Such an accord is only possible if leaders are perceived to be credible, effective and acting in the interests of the Nigerian people. 449. Moreover, crude oil production remains below potential because of disruptions to drilling activities caused by civil unrest in the Niger Delta. The contentious issues of revenue-sharing and, particularly, of getting consensus on the relative weight of derivation in the revenue formula remain unresolved. They have a direct bearing on ensuring peaceful coexistence with minority ethnic groups (like the Ogoni and Ijaw) whose lands generate most of the oil. Related to derivation is the question of environmental degradation in oil-producing localities and, in turn, its implications for Nigeria’s overall sustainable development. 450. Unemployment continues to worsen. It is aggravated by underemployment, particularly in the informal sector. Apparently, growth has yet to convert into broad-based employment generation. This partly reflects regulatory and infrastructural constraints on investment. Notwithstanding oil windfall gains, Nigeria still suffers from a large infrastructure gap. The figures for the roads network (kilometres per 1,000 inhabitants), rail system and electricity generation (kilowatt hours per inhabitant) are well below those of peer countries such as Indonesia and South Africa. Nigeria must address these shortfalls if it is to assume its rightful status as a middleincome country. 451. Like most developing countries, Nigeria needs visionary leadership, commitment and a willingness to sacrifice personal aggrandisement for the collective good if it is to develop. There is obviously enough wealth to satisfy the needs of the people. Initiating change, however, requires bold, credible and selfless leaders. 452. The African Peer Review (APR) Panel has noted the creation of the Excess Crude Account managed by the Central Bank of Nigeria (CBN). It is clear that the main purpose of this account is to stabilise revenue from oil exports, and to ensure that funds in the account are used mainly inside the country so as to fund domestic infrastructure investments. The account shows the government’s awareness of the need for the prudent management of oil resources. However, there is little information in the findings of the Country Self-Assessment Report (CSAR) and Country Review Mission (CRM) on managing the revenue accruing from the oil industry. 453. The sections that follow review the nation’s efforts to improve economic governance and management (EGM). They are based on submissions reported in the CSAR and on focus-group interviews with state and nonstate stakeholders. The first section assesses Nigeria on the APRM standards and codes. It then discusses the progress and challenges in achieving five key general objectives of the APRM questionnaire. The discussion of each objective begins with a brief summary of Nigeria’s self-assessment. This is followed by a summary of the findings of the CRM, which are based on discussions with state and nonstate stakeholders. Each objective concludes with specific recommendations for improvement. Relevant institutions are identified to implement each recommendation. 145