Political Economy of Oil Resources Management in Nigeria: Lessons from Other Countries

Mesagan, Ekundayo Peter and Eregha, Perekunah Bright (2018): Political Economy of Oil Resources Management in Nigeria: Lessons from Other Countries. Published in: In R. O. S. Dauda, S. O. Akinleye & E. D. Balogun (Eds.), Leading Issues in Macroeconomic Stabilisation and Financial Development (pp. 251 – 263). Lagos, Nigeria: Unilag Press & Bookshop Ltd. (15 August 2019): pp. 251-263.

Abstract

The study focuses on the political economy of oil resources management in Nigeria with the sole purpose of showcasing how far the country has gone in effectively managing its crude oil proceeds. It presents a brief history of the excess crude account as well as the sovereign wealth fund in Nigeria and then presents the models of excess oil resource management of some other countries. This is to enable Nigeria to draw some lessons and then take steps that guarantee the sustenance of growth and development.

• Item Type: MPRA Paper
• Language: English
• Keywords: Crude Oil; Political Economy; Sovereign Wealth Fund; Excess Crude Account; Growth; Nigeria.
• Subjects: D - Microeconomics > D7 - Analysis of Collective Decision-Making > D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D73 - Bureaucracy ; Administrative Processes in Public Organizations ; Corruption; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D78 - Positive Analysis of Policy Formulation and Implementation; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q3 - Nonrenewable Resources and Conservation > Q34 - Natural Resources and Domestic and International Conflicts; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy > Q43 - Energy and the Macroeconomy

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