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 ?
First is the nationalist spirit needs to be built for the spirit in nation building, focus on educational infrastructure to regenerate the nation into a society that is creative and innovative and can be independent, investment in human resources of their own is the most appropriate way to develop the potential of the future, as it was done by Japan after it was destroyed by the US, they call teachers to educate the people and they managed to become a developed country with the technology they produce.
Why corruption is still running in developing countries because intelligent people with low nationalism make them easy to turn and prefer for personal and group interests and therefore also the government does not create laws and economic systems that lead to the progress of a country either in the utilization of natural resources or elements of welfare citizens.
Countries also need to encourage research for the latest technology in many sectors, especially in the use of natural resources, making raw materials into semi-finished goods or even ready for consumption, the added value of this production will be very valuable than selling raw goods.