Defining a path for benefit sharing arrangements for local communities in resource development in Nigeria: the foundations, trusts and funds (FTFs) model

Abstract

This article examines the extent to which the foundations, trusts and funds (FTFs) model as a global practice in benefit sharing with local communities (LCs) can be utilised in defining a path for benefit sharing with communities in Nigeria with the aim of achieving socio-economic development. It is argued that while FTFs may be useful to meet the developmental needs of communities, the extent to which they may be adopted in Nigeria will vary mainly due to their flexibility and practical design issues that require political will to deal fairly with LCs. The FTFs model can only be properly knit into Nigeria's policy and legal framework on benefit sharing with LCs if these practical implementation issues as identified in the article are addressed. The article's contribution lies in its application of the FTFs model for benefit sharing with LCs in the Nigerian context and its possible integration into policy formulation and law-making on community benefit sharing in Nigeria. This is justified on grounds of the ability of the FTFs model to provide benefits beyond a project's life cycle with its revenue management and multi-stakeholder representative governance structure advantage that appears lacking in other benefit sharing models.