Stakeholders have blamed Nigeria's inability to effectively manage its oil and gas resources on a number of factors including the country's over reliance on oil, undiversified revenue base, economic and other social factors.

The experts gave these reasons in Abuja, at the 'Soft Media Launch' of the Nigeria Natural Resource Charter (NNRC) 2019 Benchmark Exercise Report on Wednesday. Programme coordinator of the NNRC Tengi George-Ikoli said efforts were made in 2017 to strengthen Nigeria's oil and gas resource strategy with the approval of the national oil and gas policies by the Federal Executive Council.

She said the policies, which would have helped in no small measure in the effective management of the country's oil and gas wealth, were yet to be fully implemented. George-Ikoli emphasized the need for better management of Nigeria's oil and gas resources with a view to repositioning the country as one of the fastest growing economies in the world. 

Source: AllAfrica.com