An Evaluation of the Role of Natural Resource Management in Nigeria’s Economic Development
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Background of the Study
Natural resource management (NRM) plays a critical role in Nigeria’s economic development, particularly in a country endowed with abundant natural resources such as oil, gas, minerals, and arable land. Effective NRM ensures that these resources are harnessed sustainably, contributing to long-term economic prosperity while minimizing environmental degradation. Between 2023 and 2025, Nigerian policymakers have increasingly emphasized integrated resource management strategies that balance economic growth with ecological preservation (Ibrahim, 2023).
Historically, Nigeria’s resource management practices have been characterized by overexploitation, misallocation, and environmental challenges, leading to economic volatility and social conflicts. Recent reforms aim to address these issues by promoting transparency, accountability, and sustainable practices in resource extraction and utilization. By improving governance structures and engaging local communities, these initiatives strive to create a more inclusive economic model that benefits both present and future generations (Adekunle, 2024).
This study evaluates the effectiveness of current natural resource management policies in driving economic development in Nigeria. It examines how well-managed resource sectors can spur industrial growth, attract foreign investment, and create employment opportunities while preserving environmental integrity. Through a combination of quantitative analyses of economic and environmental indicators and qualitative insights from government officials, industry experts, and local stakeholders, the research seeks to assess the successes and shortcomings of Nigeria’s NRM strategies. The findings are expected to highlight best practices and recommend further policy adjustments that can optimize resource use for sustainable economic advancement.
Statement of the Problem
Despite abundant natural resources, Nigeria has struggled to convert its wealth into sustained economic development due to inefficient resource management practices. Key challenges include corruption, inadequate regulatory frameworks, and unsustainable extraction methods that lead to environmental degradation and social unrest (Balogun, 2023). These issues have hindered the effective deployment of natural resources as drivers of economic growth. Moreover, conflicts over resource control and revenue distribution continue to impede progress, particularly in regions where resource exploitation has led to significant ecological damage.
The lack of coordination among government agencies, coupled with weak community engagement, further undermines the potential benefits of natural resource management. Inadequate investment in technology and infrastructure exacerbates these problems, reducing the efficiency and profitability of resource extraction. Additionally, there is insufficient monitoring and evaluation of resource management policies, making it difficult to determine their true economic impact (Chukwu, 2024).
This study seeks to examine the role of natural resource management in Nigeria’s economic development and to identify the systemic barriers that limit its effectiveness. It aims to provide empirical evidence on how improved management practices could enhance revenue generation, stimulate industrial development, and contribute to sustainable economic growth. Addressing these challenges is essential for developing a resource management framework that not only preserves the environment but also maximizes the economic benefits for the nation.
Objectives of the Study
• To assess the impact of natural resource management on economic development in Nigeria.
• To identify the key challenges affecting the sustainability of resource exploitation.
• To recommend strategies for enhancing transparency and efficiency in natural resource management.
Research Questions
• How does effective natural resource management contribute to economic development in Nigeria?
• What are the primary challenges hindering sustainable resource management practices?
• What policy interventions can improve the governance and efficiency of natural resource utilization?
Research Hypotheses
• H1: Improved natural resource management is positively correlated with higher economic growth.
• H2: Inefficient regulatory frameworks significantly hinder the economic benefits of resource exploitation.
• H3: Enhanced community engagement in resource management leads to more sustainable and equitable economic outcomes.
Scope and Limitations of the Study
This research covers Nigeria’s key resource sectors from 2020 to 2025, utilizing economic and environmental data alongside stakeholder interviews. Limitations include potential regional disparities and challenges in measuring long-term policy impacts.
Definitions of Terms
• Natural Resource Management (NRM): The sustainable utilization and conservation of natural resources.
• Economic Development: The process of improving the economic well-being and quality of life for a nation’s citizens.
• Sustainability: The ability to meet present needs without compromising the ability of future generations to meet their own.
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