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Nigeria’s tainted petroleum legacy offers Kenya a lesson in resource management
A worker at the Ngamia 1 oil rig in Turkana County. World leaders are urging Kenya to come up with clear laws to ensure oil boosts its economic growth. File
Is there really a resource curse? If yes, why has it apparently afflicted African countries such as Nigeria and Angola that have mismanaged their petroleum wealth, while Norway, for instance, has escaped such national tragedy?
(Read: Oil: Let’s learn from others’ mistakes) Nigeria’s first mistake was neglecting other foreign exchange earners, especially agriculture. Before Nigeria’s oil became a real gusher, the country depended on agriculture to fully fund development. Each of the four regions (east, west, north and mid-west) were locked in a healthy competition.