Politics
Oil: Potential hope for Liberia’s development
They also rejected the president’s powers to appoint NOCAL board members, preferring the legislature to exercise such powers. They also went on to insist that prospective oil companies be made to establish an oil refinery in the country to create local jobs for Liberians.
Analysts believe that after the initial storm, the government will likely make changes to the legislation to accommodate the citizens’ concerns. Global Witness, a watchdog group that campaigns against natural resource-related conflicts and corruption, says Liberia needs the right policies and could implement them on their own.
The Liberian oil sector could potentially be “one of the best-run and best-governed sectors on the continent, if not in the world, in terms of developing countries with new oil finds,” according to Chloe Fussel, a campaigner for the organisation.
This article was first published by United Nations Africa Renewal Magazine
Source: The Africa Report
