Publisher: University of Calabar

Opportunities and Stability: The Economic Aspect of Resource Control

Uwatt B. Uwatt
KEYWORDS: OPPORTUNITIES AND STABILITY: THE ECONOMIC ASPECT OF RESOURCE CONTROL

ABSTRACT:

Resource control has remained a controversial issue in Nigeria over the years. Although differently understood, and in some cases, wrongly, it has been argued that resource control is an integral part of a free enterprise or market driven economy and an embodiment of true federalism. Accordingly, it is the key to rapid economic development and political and economic stability of Nigeria going by the experience ofthe 1950s and 1960s when it was used. At that time, more emphasis was placed on the regions developing separately on their own and using their own resources; hence the greater emphasis on derivation. It follows, therefore, that unless the issue of resource control is appropriately resolved, Nigeria cannot honestly expect to make meaningful progress.



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