Harnessing Natural Resources for Sustainable Development: An Alternative View

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The inability of representative Governments of African nations to meet the challenges associated with exploration, exportation and revenue issues with regards the natural resource phenomena has lead to the existence of the resource curse. In a simple analogy, this refers to resource management problems ranging from contractual agreements on exploration to rents accrued to government, as well the use of the resource revenues and economic structural changes.The main objective of this research will be to seek an optimal and feasible solution to the problem of resource management with respect to resource revenues. We will show how a windfall revenue should/can be used in such a way that it reduces the effects of the resource curse. Most research studies related to this, abstracted from certain important features of African nations, some of which include: economies that have no absorption or structural change issues or resource curse, non introduction of political implications to decision making process and non inclusion of risk arising from socio economic characteristics . The introduction of these issues stand out as the niche that this research tends to fill.

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