In today's timeline, we can see that the most valuable economic resource is stability, not even oil.
Economies who don't offer stability, irrespective of natural resource are experiencing; migration, a reduction in the use of indigenous currency, businesses are starting to eliminate long term plans for short term, a reduction in capital expenditure and investment, and a fall in productivity.
Economic productivity depends more on productivity than in resources.
A stable country with fewer resources will surely out perform one richer with resources, as we've seen with countries of the world. In comparison a country like Belgium with fewer resources is outperforming a supposedly oil rich nation like Nigeria.
Trust is surely starting to be an economic resource.
In the case of Nigeria you cited, it's far beyond resource ownership and more of mismanagement and corruption. If we critically look at Belgium, it might be that they might not be too far in production than Nigeria, but they've been able to manage whatever they have judiciously, as a Nigerian, I can tell you that the level of wastage in our budgetary system alone, is enough to plunge the economy into economic downturn. So productivity doesn't just start in an economy, people make it to be possible, hence the political will is there, every other thing will fall inline.
