Abstract
A previous study of the author on the need to domesticate benchmarked international standards and practices associated with Permanent Sovereignty over Natural Wealth and Resources (PSNWR) in Nigeria, in the course of petroleum and other extractive industrial operations, as aspects of PSNWR, ended by stating that a follow-up study would be embarked upon. That follow-up study would, on the premise of actual performances and/or performance indicators of relevant government institutions established on the basis of their respective enabling laws, examine the efficacy of these institutions and overall government social responsibility (GSR) associated with petroleum development in the country. From the background of global and other benchmarked international sustainable development-oriented regulatory standards and practices and existing Nigerian legal and institutional frameworks associated with PSNWR, the study evaluates the effectiveness of laws and government institutions in the context of the significant and inevitable roles of governments, in the course of petroleum development in Nigeria. Keywords: Permanent Sovereignty over Natural Wealth and Resources (PSNWR), Petroleum Development Operations, Government Social Responsibility (GSR), Good Governance (GG) and Sustainable Development (SD). DOI : 10.7176/JLPG/92-08 Publication date: December 31 st 2019
Highlights
Permanent Sovereignty over Natural Resources (PSNWR) a soft law principle, which is enshrined in the UN General Assembly (UNGA) Resolution 1803 (XVII) of 14 December, 1962, entitled: ‘Permanent Sovereignty over Natural Resources’. 1 This principle evolved as an international political claim and a principle of international law, which is rooted in international human rights law and the principles of self-determination and economic sovereignty, and eventually became an aspect of domestic policy, law, regulatory process and practice in developing countries, which are richly endowed with major natural resources
2.5 Conclusion Based on the rights and duties of global states, resources-rich developing countries, inherent in Permanent Sovereignty over Natural Wealth and Resources (PSNWR), this study has attempted to give an overview of PSNWR and examined the efficacy of some government institutions set-up on the basis of their enabling laws and overall government social responsibility (GSR) associated with petroleum development in Nigeria
From the threshold of the duties ingrained in PSNWR, the study examined the duties of Nigeria, represented by governments in the country, to the country, the citizenry and the oil-rich Delta region, in the course of petroleum development in the oil producing communities of the region
Summary
Permanent Sovereignty over Natural Resources (PSNWR) a soft law principle, which is enshrined in the UN General Assembly (UNGA) Resolution 1803 (XVII) of 14 December, 1962, entitled: ‘Permanent Sovereignty over Natural Resources’. 1 This principle evolved as an international political claim and a principle of international law, which is rooted in international human rights law and the principles of self-determination and economic sovereignty, and eventually became an aspect of domestic policy, law, regulatory process and practice in developing countries, which are richly endowed with major natural resources. PSNWR presupposes absolute, inalienable, free and full right of a newly independent developing country over its natural wealth and resources.[2] It advocates and supports the unfettered sovereign right of resources-rich developing countries to explore and exploit their natural resources and to manage the wealth accruing from the exploitation of these resources for development of such countries and the wellbeing of their citizens, especially the wellbeing of the citizens from whose communities the resources are being exploited and/or developed for the benefit of the countries.[3] So, PSNWR, vigorously advocated and promoted by developing countries in the UN system, stipulates the rights and corresponding duties of states, resources-rich developing countries, over their natural resources and the management of the wealth accruing therefrom to these countries.[4]. Resources-rich developing countries, especially those plagued by the resource-curse like Nigeria often promptly exercise their rights of PSNWR to exploit natural resources of their countries and to manage the wealth accruing from the exploitation of these resources, without performing their duties to cater for the wellbeing of their countries and citizens, including the wellbeing of their geographical regions where the natural resources being so exploited are derived, regardless of the fact that rights and duties are related and cannot be
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