NIGERIA NEEDS TO DEEPEN POLITICAL REFORMS TO GENERATE MORE WEALTH FROM OIL
September 1st, 2011
BY KEITH NUTHALL
A WORLD Bank report has called for the deepening of political reforms in Nigeria to generate more general wealth from its oil reserves. Highlighting how a despotic government acting as an oil firm landlord had concentrated revenues, it said democracy and proposed "reforms for the petroleum sector hold much promise". However democratic institutions needed to ensure "vested interests...be aligned with the public interest and a vision of Nigerian development."
ENDS
A WORLD Bank report has called for the deepening of political reforms in Nigeria to generate more general wealth from its oil reserves. Highlighting how a despotic government acting as an oil firm landlord had concentrated revenues, it said democracy and proposed "reforms for the petroleum sector hold much promise". However democratic institutions needed to ensure "vested interests...be aligned with the public interest and a vision of Nigerian development."
ENDS
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