Reversing the ‘Resource Curse’ Phenomenon in Nigeria:

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" Reversing the ‘Resource Curse’ Phenomenon in Nigeria: "
Nelson Ojukwu-Ogba, Patrick Osode

Document Type	:	AL
Record Number	:	1064414
Doc. No	:	LA108043
Call No	:	‭10.1163/17087384-12340019‬
Language of Document	:	English
Main Entry	:	Nelson Ojukwu-Ogba
	:	Patrick Osode
Title & Author	:	Reversing the ‘Resource Curse’ Phenomenon in Nigeria: [Article] : An Assessment of the Nigeria Extractive Industries Transparency Initiative Act After a Decade\ Nelson Ojukwu-Ogba, Patrick Osode
Publication Statement	:	Leiden: Brill \| Nijhoff
Title of Periodical	:	African Journal of Legal Studies
Date	:	2017
Volume/ Issue Number	:	10/2-3
Page No	:	141–162
Abstract	:	Natural resources endowment is a blessing to the endowed states due to their catalytic development-driving potential. The exploitation of the endowment should result in rapid socio-economic development. However, for most developing states, the blessing of these natural resources strangely tends to turn disadvantageous; a phenomenon that has been distinctly identified in the literature as ‘the resource curse’. This paper examines that phenomenon, using Nigeria as a case study given the serious environmental, political and socio-economic challenges occasioned by the country’s exploitation of its oil and gas endowment. The paper particularly considers the impact of the statutory intervention in Nigeria to reverse the trend through the instrumentality of the Nigeria Extractive Industries Transparency Initiative Act (NEITI Act) 2007. The paper further explores what could be the most effective means of containing the said problems in light of their implications for the future of the country and its people. Natural resources endowment is a blessing to the endowed states due to their catalytic development-driving potential. The exploitation of the endowment should result in rapid socio-economic development. However, for most developing states, the blessing of these natural resources strangely tends to turn disadvantageous; a phenomenon that has been distinctly identified in the literature as ‘the resource curse’. This paper examines that phenomenon, using Nigeria as a case study given the serious environmental, political and socio-economic challenges occasioned by the country’s exploitation of its oil and gas endowment. The paper particularly considers the impact of the statutory intervention in Nigeria to reverse the trend through the instrumentality of the Nigeria Extractive Industries Transparency Initiative Act (NEITI Act) 2007. The paper further explores what could be the most effective means of containing the said problems in light of their implications for the future of the country and its people.
Descriptor	:	accountability
Descriptor	:	extractive industries
Descriptor	:	International Law: General Interest
Descriptor	:	Nigeria
Descriptor	:	oil and gas
Descriptor	:	resource curse
Descriptor	:	transparency
Location & Call number	:	‭10.1163/17087384-12340019‬