The land of black gold, corruption, poverty and sabotage: Overcoming the Niger Delta���s problems through the establishment of a Nigerian Non-Renewable Revenue Special Fund (NNRSF)

What is it about?

This paper will examine the need for improved oil revenue accountability and investment in socio-economic development in Nigeria’s Niger Delta. It will show that despite the Niger Delta 2009 amnesty programme, high levels of sabotage continue in the region that can be partly attributable to the lack of widespread socio-economic development implemented by successive Nigerian Governments and development agencies. The paper will show that one of the main underlying causes for this is widespread national corruption and will then go onto present how the new funding mechanism set out in this article can not only nullify this issue but also achieve socio-economic development and with that a possible reduction in oilfield sabotage.

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Why is it important?

This article sets out how to tackle the Niger Delta's chronic need for socio-economic development in a country suffering from high levels of corruption. Though this resource revenue fund is a radical proposal, the scale of the corruption and the problems it's causes merit such a proposal.