Friday, November 24, 2017
Add this page to Blinklist Add this page to Del.icoi.us Add this page to Digg Add this page to Facebook Add this page to Furl Add this page to Google Add this page to Ma.Gnolia Add this page to Newsvine Add this page to Reddit Add this page to StumbleUpon Add this page to Technorati Add this page to Yahoo


ideas have consequences

You are here:Home>>Strategic Research & Analysis>>Kenyan Oil Discovery: A Source of Wealth Creation and Development
Saturday, 12 May 2012 18:40

Kenyan Oil Discovery: A Source of Wealth Creation and Development

Written by Emeka Chiakwelu
Kenyan Oil Discovery: A Source of Wealth Creation and Development standard media

 

With the discovery of a large oil deposits in the isolated northern Turkana region of Kenya by Tullow Oil PLC and British Oil, the east African nation has begun its journey of joining the exclusive club of African oil producing nations.

 

Africa is becoming the gold rush for oil exploration: Oil and gas exploration spots are crowding African landscape. With already older oil exploration spots in Nigeria, Angola, Sudan , Chad and the most recent discoveries in Ghana, Uganda, Democratic Republic of Congo, the continent is over washing with oil and gas.

 

Kenyan oil discovery is “good news” as was assured by Kenyan Prime Minister Raila Odinga but he was also right when he emphasized that the country’s administration should remained “cautiously optimistic".   History has proven that African oil producing nations have not done right with their oil revenues.

 

When oil revenue is properly invested and managed, it becomes the foundation and source for further wealth creation and the building block of an economically prosperous nation. Norway has shown that oil wealth can be used for a nation development and the so-called “oil curse” did not apply to Norway.

 

But take a look at the  African oil producing nations including Nigeria, Angola, Chad, Sudan and others, their oil revenues have not bring much quantifiable and tangible economic turnaround. Majority of their citizens are still living in penury poverty with abysmal existential indices that indicated that “oil blessing” have eluded these nations.  The social infrastructures are neglected without upgrade while health and educational facilities remained deteriorated, while capital flight becomes imminent.  The gap between rich and poor widens, the richer continues to increase in wealth and poor continues to live in squalor.

 

Invest in Agriculture, Tourism and Infrastructures

 

The golden opportunity that comes with oil revenue is enormous if Kenya is willing to do the right thing. Kenya source of foreign exchange is grounded in cash crop exports and tourism. The major exports are tea and coffee together with fresh flower export to Europe. Kenya can develop and invest in modern mechanized agriculture.

Kenya's Prime Minister Raila Odinga  picture: africanreview


Kenya should learn from the mistake that Nigeria made. Before the flowing in of oil revenue into Nigerian coffers, the country was the largest producer of palm oil and among largest exporter of cocoa, groundnuts and millet. But Nigeria delayed on investing in agriculture and when they came around it became nearly impossible because oil revenue has weaken the country’s resolve to develop her agricultural facilities.

 

Kenya should tackle the problem of food preservation and processing to enhance export, which will give them the leverage to negotiate for higher prices without the concern of crops decay.

 

Another great thing Kenya can do is to invest in its infrastructure – provides road, health facilities, electric light and improve its primary and secondary schools. When it comes to education Kenya must invest in his people for economic growth and development to be sustainable. Kenya must be careful and do a good job in order to train and develop adequate manpower to supply the skill for running the oil hi-tech industry.

 

Most importantly, Kenya should subscribe to transparency and accountability, anything short of that is a disaster. Kenya must muster the will power to change the story in Africa on oil mismanagement, thereby opening a new chapter for the continent.

 

Emeka Chiakwelu is the Principal Policy Strategist at Afripol Organization. Africa Political and Economic Strategic Center (Afripol) is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, sustainable green environment, human rights, conflict resolutions, transparency and probity in Africa. http://afripol.org. This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

 

 

 

 

 

 

 

 

 

 

Last modified on Monday, 14 May 2012 17:15

438 comments

  • Comment Link Paper Writer Free Friday, 17 November 2017 15:46 posted by Paper Writer Free

    buy essay online buy an essay buy essay buy an essay online

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
  • Comment Link Paydayloan Sunday, 12 November 2017 02:02 posted by Paydayloan

    personal loans bad credit personal loans for bad credit bad credit personal loans i have bad credit and need a personal loan

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
  • Comment Link Pamcox Wednesday, 01 November 2017 00:30 posted by Pamcox

    illustration essay illustration essay pay for essay writing i need help on my homework help with homework online chat term papers online custom essay writing custom essay writing buy essays writing essay website best dissertation services essays help money loan instant loans online instant payday loans instant online loans write my paper for me write my paper for me write my paper for me write my essay for me payday loans lenders instant payday loans get a loan instant payday loans payday loans bad credit direct lender loans payday loans direct lender payday loans direct lender direct lenders of loans direct payday loans bad credit payday loans direct lenders direct payday loans best payday loan online 10 top loan companies payday loan online best payday loan online

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
  • Comment Link Jamescox Tuesday, 03 October 2017 21:33 posted by Jamescox

    st ephrem homework online Look At This research paper writer free https://essaywritingservices.us.com - essay writing service review

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
  • Comment Link RichardNic Tuesday, 03 October 2017 20:37 posted by RichardNic

    Nike Free Flyknit Dama
    To help keep your skin pores clean and crystal clear, you should rinse your linens and pillowcases at least one time per week. Whenever we sleep, we perspiration more than ever before, and microorganisms the facial skin can be transferred to bedding. This harmful bacteria causes your pores to obtain clogged and can lead to breakouts. A clean bed contributes to cleaner skin area.


    When the pile that you have is just not too large, you may be able to gently drive it back again within the anal sphincter. Accomplishing this will probably lessen the overall pain that this will result in and may lower the probability of acquiring it hurt and internal bleeding. It may also help to prevent it from getting infected.

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
  • Comment Link Johncox Saturday, 23 September 2017 20:35 posted by Johncox

    https://bestpaydayloansonline.us.com/ - payday loan https://loansforbadcredit.us.com/ - link

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
  • Comment Link Johncox Friday, 22 September 2017 12:24 posted by Johncox

    https://paydayloans.us.org/ - payday loans

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
  • Comment Link Vernonvinna Thursday, 21 September 2017 09:22 posted by Vernonvinna

    Michael Kors Bag Ireland
    So long as you use what you've read on this page, you should certainly improve your find rate and also have a really great time carrying it out. Enjoying the sport activity arrives along with being successful at it, so ensure you begin using the following tips at the earliest opportunity and you'll be eating species of fish for dinner!Comprehend The Easiest Method To Overcome Apnea

    https://www.interaktywna-gmina.pl/images/int2/5922-ray-ban-okulary-korekcyjne-damskie.jpg

    Entail your household together and perform for home based business success. Your extroverted spouse might be keen to do frosty cell phone calls and take care of clients. Your girl might be ideal for posts and ad duplicate, although your child could create awesome logos, internet sites and brochures. Especially, they should enjoy yourself.

    https://www.heidelbergsecatechismus.nu/images/hei2/5687-nike-air-max-thea-yellow.jpg

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
  • Comment Link Johncox Thursday, 21 September 2017 04:57 posted by Johncox

    https://paydayloans.us.org/ - cash advance

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
  • Comment Link MichaelBlorn Friday, 08 September 2017 06:39 posted by MichaelBlorn

    wh0cd5342548 albuterol

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Start
Prev
1

Add comment