10 June 2011
Oil and gas policies
Coming from the Niger Delta and from the state where oil was first discovered in commercial quantity, there are great expectations from Mr. President's new administration, not only to increase the economic benefits derivable from the sector, but also to assuage the yearnings of the host communities in having a greater share of the oil wealth.
However, despite the abundant resources,
remains one of the less developed and poorer countries of the world, as successive administrations failed to harness the rich natural and human resources to promote rapid economic development. Nigeria
Corruption and mismanagement prevented past administrations from channeling these resources, into improving the dilapidated infrastructure and sustaining economic development.
Against this backdrop, President Jonathan cannot afford to fail Nigerians. Even as he has made some appreciable progress in the golden oil and gas sector, a lot more is expected from him because the majority of his programmes for the sector are still mere projections...