Why do some countries stay poor despite having abundant natural resources?

[Fragrance1122]

Corruption:
Resource money goes to politicians and elites, not to schools, hospitals, or roads. Secret deals with contractors are common.

One-resource risk:
If the economy depends on just one resource, it crashes when prices fall.

No investment:
Investors avoid the country due to weak laws and no property rights, so no new factories are built.

The solution:
A stable government and low corruption are needed to turn resources into prosperity.

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

[Exitoral]

From your topic. It's simple. Neocolonialism. colonisers never left. They just wore a different gown. Other factors might contribute. But the first and foremost of them all is Neocolonialism. Quote me if I am wrong.

[kingstep]

One-resource risk:
If the economy depends on just one resource, it crashes when prices fall.

No country has just a single resource. If they are depending on just one resource, it gives a pointer to the fact that there's a leadership problem that they are facing. A group of locals that are big enough to be tagged a nation is capable of coming out from poverty if they get things right at leadership level. It becomes a great plus if there's abundance of natural resource and at such point, any failure that still happens goes straight to Sam's leadership as an institution.

Undermine leadership and you see your natural resource failing you even when others with lesser resources are doing better.

[freedomgo]

Bad governance does not make a country prosper, but hinders its country's long-term prosperity. And with that, stealing and taking advantage of the abundant natural resources for their own benefits is very common, leaving the next generation nothing to generate income because everything that are supposed to be for them are no longer there, because they have already been stolen by the current corrupt administration.

The best thing that we can do is to change the current administration and elect new politicians that have a genuine heart for the people and could sustain the rich natural resources that serves as the hope of the youth.

[PostQuantumBTC]

One-resource risk:
If the economy depends on just one resource, it crashes when prices fall.

Which country do you think depends on one resources? What if the country do not have other resources? Or you mean the country should not depend on one thing? AI today and technology advancement are not natural resources.

WHAT THINGS ARE NEEDED TO TURN NATURAL RESOURCES INTO PROSPERITY IN YOUR POINT OF VIEW ?

A country in the world that we are now should not only depend on natural resources, but natural resources are blessings. If a country has one or more, they should not embezzle the money generated from mining the resources because it can later kill the progress of the resources mining in the country.