The African Development Bank has given fresh policy contributions and advice to new Oil producers on how to leverage oil, minerals and gas resources to improve human development and progress.
The report that comes on a backdrop of research on national development policy frameworks in Africa, targets mainly East African states of Uganda, Kenya and Tanzania using case studies across the globe with focus on African Oil giants.
Titled Delivering on the promise: Leveraging on natural resources to accelerate human development in Africa, the bank through the report notes that even as most governments continue to express commitment to turn new revenues from natural resources into outcomes that matter for their citizens; better health, better education, and access to quality social services, delivering on the commitments is not is not easily achievable unless nations revise their national policy frameworks.
The report further notes that delivering on the commitments of common good demands tough and complex policy choices.
It cites balancing the need for social sector investments with the needs of other sectors across the economy, transparency and carefully managing citizen expectations through distributing the benefits from the extractive sector to meet the demands of the present and future generations as core in designing the needed policies.
See the report