Natural Resources, a Curse towards National Development: A Case of Nigeria and the Democratic Republic of Congo

Ahmad, Dr. Abdullahi Ayoade (2019) Natural Resources, a Curse towards National Development: A Case of Nigeria and the Democratic Republic of Congo. In: Research Trends in MULTIDISCIPLINARY RESEARCH. AkiNik Publications, India, pp. 39-57. ISBN 978-93-5335-848-8

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Abstract

Natural Resources are gifts that support economic, social and political development that pave way for nation-building and future sustainability of any given society. Several countries and regions were bestowed with variety resources such as crude oil, natural gas, gold, iron ore, etc. These resources do not automatically make the beneficiary rich or live a better life, unless the policy makers sincerely formulate and adopt right policies towards implementation of such policies. Without technology adaptation, oil, gold, copper and other natural resources of these kinds can not be extracted to yield effective and profitable production, while decision makers, adequate laws and enforcement are tools to achieve positive goals and objectives. Resources curse theory is one of the theories within the political economy that oversees the potentiality of natural resource as a consequence of various disadvantages in a giving society rather than rich and enjoys economic growth and political stability, as a result, merely ends up state ends up in destruction. The paper examined the relationship between resources and state development, its contribution largely to focus on Nigeria and Democratic Republic of Congo as illustration of African resourceful states with less development. As a result, the study adopts the Resources curse theory in analysing these resources and its consequences while policy makers’ decisions are duly examined in reaching a conclusive result.

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