A COMPARATIVE ANALYSIS OF RESOURCE GOVERNANCE IN NIGERIA AND OTHER JURISDICTIONS

Abstract

This comparative analysis of resource governance in Nigeria and other jurisdictions underscores the critical importance of effective petroleum ownership practices for Nigeria's sustainable development, economic prosperity, and equitable distribution of benefits. The examination of resource governance frameworks in Nigeria, Norway, Australia, the United States, and Canada has shed light on key characteristics, challenges, best practices, and exemplary provisions that can inform Nigeria's path towards successful petroleum ownership. �Nigeria, as a resource-rich country, faces significant challenges in managing its petroleum sector. The literature review has revealed several key issues with Nigeria's current resource ownership and governance regime. These include the centralization of power and decision-making, the marginalization of oil-producing communities, environmental degradation, revenue mismanagement, corruption, and lack of transparency and accountability. These challenges have hindered the optimal utilization of petroleum resources and undermined the potential for sustainable development and broad-based socio-economic progress.

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urn:uuid:5571a31d-0162-4f4e-a411-d2b07c64d5e9