The federal government has been advised to be careful in tackling the problem of the Niger-Delta to avoid any form of repression.
At the just concluded annual general meeting of the African Development Bank (AfDB) in Dakar Paul Collier, professor of economics at the Oxford University in the UK said that repression would not solve the problem of the region.
Collier said that though there was no "quick fix" to the crisis in the Niger Delta, but that the solution "lies in having an informed society and confidence building."
According to him, if there is transparency in the use of resources derived from the Niger Delta region for the benefit of the country and the Niger Delta region, there may be less agitation.
He noted that Nigeria could have been very prosperous if the wealth derived from mineral resources in the last 30 years was adequately utilised for the benefit of the country and its future.
Speaking on the way forward, Collier, who co-authored the "Natural Resources Charter" with seven other professionals, said: "build a transparent process and invest in the future of Nigeria and the Niger Delta."
He said that if there was transparency in the use of the oil wealth, the people of the Niger Delta would be proud that "they have been the engine of wealth for Nigeria and the region."
He commended the federal government for maintaining the excess crude account, which according to him, has helped the country to absorb the shocks from the global financial crisis.
"The excess crude account is okay, but the challenge now is to use the money for productive investment," he said.
Collier commended the federal government for spending part of the excess crude reserves on the power sector and called for proper scrutiny on the investment.
On crude oil bunkering, Collier urged President Umaru Yar'Adua to intensify his international campaign against bunkering and oil theft.
He said that the certification process used in the case of diamond should be used to check oil bunkering by the international community.
Collier suggested that processes should be developed to check oil bunkering and "make crude oil difficult to sell."