Equatorial Guinea. According to
Countryaah, Prime Minister Angel Serafin Seriche
Dougan resigned in February after being accused by President
Teodoro Obiang Nguema of triggering a constitutional crisis
"by not looking to the people's best". Dougan was succeeded
by Candido Muatetema Rivas, former secretary general of the
ruling Democratic Party (PDGE).
Since oil was found off the island of Bioko in the
mid-1990s, Equatorial Guinea has rapidly developed into
Africa's third largest oil producer after Nigeria and
Angola, with production of up to a quarter of a million
barrels per day.
Equatorial Guinea was estimated to achieve economic
growth of between 50 and 70% in 2001. However, most of the
oil revenue goes back to the foreign companies because the
state has failed to negotiate on as favorable terms as
Nigeria and Angola.