REVISITING THE RESOURCE CURSE IN NIGERIA: THE CASE OF NIGER DELTA

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 Niger Delta 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 further explores efforts made to reverse the trend of the phenomenon in Nigeria and also 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. The study recommended that that there is a well-planned and coordinated program for socio-infrastructural development across the region. Government should provide the grounds for both the oil companies and the host oil communities to cooperate with each other and ensure compliance of the MOUs signed by the oil companies and the host communities. The amnesty program initiated by late President Umaru Musa Yar’Adua should be effectively implemented to avoid the resurgence of militancy and other forms of conflict. Government and the oil companies should guarantee the indigenes that they are a part of the business of crude oil exploration and production in the communities, this will help reduce or possibly stop the issue of regular vandalization of oil pipelines and other facilities of the oil exploration companies. There should be equitable sharing of revenue from the sales of crude oil, particularly by the Federal Government.