Daily News: New Oil, Gas Discoveries to Boost Economic Growth

New natural resource discoveries, oil and gas provide a substantial opportunity to fast-track human development progress, with updated estimates indicating that revenues to be developed could contribute between 9 per cent and 31 per cent of additional government revenues, a new report shows.

The report, by African Development Bank and the Bill and Melinda Gates Foundation, titled “Delivering on the Promise: Leveraging Natural Resources to Accelerate Human Development in Africa,” specifically highlights recent developments in Tanzania on oil and gas, but urges for development of local people’s capacity ahead of the industry.

Read the full article HERE.