Summary
Natural resources in Nigeria needs sound management for their sustainability and development of the country. The realization that more needs to be done to translate the potential benefits of natural resources into broad-based socio-economic development of Nigeria motivated this study. Despite this realization, the necessary policies and concrete actions are not integrated at present. Indeed, natural resources constitute the base for the infrastructure and energy needs of society, the industrial sector, urban development and social well being of the people. However, these contributions are contingent on the fulfillment of critical conditions, chiefly, improving governance and transparency, and eliminating corruption. This paper using various sampled data from government officials organized private sector, donor agencies and rural dwellers examines the relationship between natural resources management and sustainable development. The data acquired were analyzed using scores percentage comparison and explanatory notes coupled with the spearman's rank order correlation coefficient (γ^sub S^) and the t - test. Findings Revealed that despite the strong link between natural resource management and sustainable growth, its exploitations are yet to impact positively on the socio-economic and infrastructural needs of the people. The paper concludes with recommendations geared toward effective management of natural resources of sustainable development in Nigeria.
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Natural Resource Management: An Option for Sustainable Development in Nigeria
(ProQuest: ... denotes formulae omitted.)
1. IntroductionThe importance of natural resources in Nigeria's development process cannot be overemphasized. These resources have become more important than ever before as the country seek additional sources of development financing in order to progress towards the Millennium Development Goals (MDGS). Even so, the fact remains that Nigeria has failed to tap the potential for its natural resources wealth to serve as a driver for industrialization, economic growth, poverty reduction and sustainable development. Indeed, Nigeria is rich in natural resources, but this has not always been a blessing. This has become a persistent challenge for sustainable development and natural resource management in Nigeria. The country is endowed with natural resources, which it needs for its own development, but which other countries also want. Furthermore, the country's several decades of resource exploitation have not translated into economic growth or improve the livelihoods and welfare of their growing population.Nigeria's record of poor management of its natural resources has been a recurring theme in recent debates on the "natural resource curse". Although natural resource wealth contributes to economic de...See the full content of this document
(Copyright 2011)
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