138.
Nigeria has joined the ranks of a handful of African countries that have
led the process of implementing the novel mechanism of the APRM. It
signed the APRM Accession MoU on 9 March 2003 and has systematically
put in place structures that have led to the current review of the country.
Upon completion of the current review, Nigeria will be the eight country
to have successfully gone through the review process, which will then
pave the way for the implementation of its National Programme of Action
(NPoA). This leadership by example will go a long way in influencing other
African countries to accede to the APRM. In addition, Nigeria has been
fulfilling its financial obligations and has made significant contributions to
the continental APRM Trust Fund.
139.
Nigeria, by virtue of its abundant human resources and resource
endowment, is a major player in the global economy. Since the resumption
of civil rule in 1999, which also marked the end of its pariah status due to the
brutal military dictatorship of Sani Abacha, Nigeria has played its rightful
role as a mouthpiece of Africa on the global stage. Whether at Group of
Eight (G8) Summit gatherings of the world’s richest and most powerful
nations or meetings of the Group of 77 (G77) bloc of influential developing
nations, Nigeria has represented Africa’s interests and promoted its new
NEPAD development strategy.
140.
Nigeria’s position in global energy markets continues to underline the
interests generated by the international community in the Niger Delta
crisis. As the world’s fifth-largest producer of hydrocarbon and a leading
member of the Organization of the Petroleum Exporting Countries (OPEC),
the security situation in the Niger Delta area, where over US$40 billion
is earned from petroleum resources annually, has global repercussions,
as has been witnessed recently in the record global energy prices. Not
surprisingly, the United States of America (US) as well as multinational
energy corporations have been among the keen actors seeking sustainable
solutions to the Niger Delta crisis. Indeed, international corporate actors
have warned that, unless a lasting solution to the Niger Delta crisis is
engendered, the global volatility in energy prices will continue.
57