Keywords
governance quality
economic diversification
accountability mechanisms
environmental sustainability
Nigeria
Abstract
This study examines the political economy of resource management in Nigeria, with a focus on governance quality, accountability mechanisms, environmental sustainability, and economic diversification. Drawing on institutionalist, political economy, and rational choice perspectives, the study analyses indicators, including oil revenue dependence, transparency and accountability metrics, environmental governance, socio-economic outcomes, and sectoral contributions to GDP. The findings reveal persistent oil dependence, weak institutional enforcement, environmental degradation, and limited diversification, despite incremental improvements in transparency and host community fund compliance. These outcomes reflect the interplay between extractive institutions, elite rent-seeking, and structural constraints that inhibit sustainable development. Policy implications highlight the need for robust institutional reforms, enhanced accountability, equitable fiscal distribution, environmental remediation, and strategic economic diversification to break the cycle of resource dependence. The study contributes to the understanding of how governance structures, incentive frameworks, and policy interventions shape the utilization of natural resources in resource-rich developing economies.
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