Averting the Resource Curse in Nigeria’s Solid Minerals Sector
Crude oil resources had descended upon Nigeria like manna from heaven in the 1970s. Between 1970 and 1975, government revenue grew by over 1,100%, creating surplus funds that overwhelmed the country. The oil windfall was so unprecedented that General Yakubu Gowon admitted, in 1973, that “money is not Nigeria’s problem, but how to spend it”.
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