The World Bank has disclosed that Nigeria and other metals and mineral resource-rich countries in Sub-Saharan Africa can double revenues from natural resources such as minerals, oil, and gas. In a statement announcing the new Africa’s Resource Future report, the World Bank noted that these countries could achieve double revenue by adopting a better set of policies, implementing reforms, investing in better fiscal administration and promoting good governance.
The Washington-based bank noted that on average, countries capture only about 40 per cent of the revenue they could potentially collect from natural resources.
It added, “In other words, at a time when countries are burdened by slow growth and high debt, governments could more than double revenues from natural resources such as minerals, oil, and gas by adopting a better set of policies, implementing reforms, and investing in better fiscal administration and promoting good governance.”
More details at:
https://punchng.com/nigeria-collects-only-40-of-natural-resources-revenue-world-bank
The Washington-based bank noted that on average, countries capture only about 40 per cent of the revenue they could potentially collect from natural resources.
It added, “In other words, at a time when countries are burdened by slow growth and high debt, governments could more than double revenues from natural resources such as minerals, oil, and gas by adopting a better set of policies, implementing reforms, and investing in better fiscal administration and promoting good governance.”
More details at:
https://punchng.com/nigeria-collects-only-40-of-natural-resources-revenue-world-bank
