Resource wealth & energy transition: challenges for resource-rich economies

Abstract

The objective of this paper is to validate a policymaking model for resource-rich developing countries to increase value-exploitation from their resources. It has been identified that established research on policymaking fails to integrate external trend and internal barrier analyses for target countries. A new model has thus been proposed during a preceding project, including the external and internal dimensions to improve policymaking This model has been applied to Nigeria to validate its applicability. This paper has found that this framework can generate meaningful policy strategies and insights on external trends and internal barriers.