UN Integrated Regional Information Networks
2 July 2009
In Africa billions of dollars from oil, gas and mining revenues go missing, leaving populations dependent on international assistance, according to a new report on natural resource use on the continent.
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The problem here isn't resources, or even simply greed. It is the overvaluation of foreign currency. Foreign money is useful when you need to import something, but the more you import, the more you subvert domestic production and become dependent on importation. Keeping dependency short-lived is important. In many cases, what you are exporting is needed desperately locally. Nigeria is getting ready to build a Trans Sahara pipeline for gas, when it cannot supply Abuja. Redeclare your independence. Use your resources to solve your local troubles first. If there are any RENEWABLE resources left over when your needs are met, export them if you can. Save the non-renewables for your descendants.