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Abstract
In 2008, aid flow to sub-Saharan Africa reached US$36 billion per year. Natural resource rents, by contrast, stood at US$240 billion. Over three-quarters of Africa’s subsoil assets have yet to be discovered. If such estimates are confirmed, oil, gas, and mining are likely to represent the single most significant untapped source for financing development in resource-rich low- and middle-income countries. Capturing these mineral rents and putting them to effective use will require many resource-rich countries to strengthen institutions and policies. Civil society, parliamentarians, and the media all have a critical role to play in ensuring revenues are used for the public good.
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