by Maniza Naqvi
What do Iran and Alaska have in common? Well for one thing, both have followed a similar path towards equity by sharing mineral revenues with citizens through the Alaska Permanent Fund and the Iran Citizens Income Scheme (here). Why aren't other countries, rich in mineral wealth and poverty doing the same? Because, the “journey”, which costly consultants want costly decision makers at costly aid conferences full of power point presentations and participants by the presidential suite loads, to take, is one of visualizing the eradication of poverty with truisms. This journey can be short and sweet: It would entail direct dividend payments from mineral wealth to citizens to become a reality across Africa and other parts of the world.
It's time to put the “mine” in mineral resources. If there ever was a sweet spot for perfect nationalization and poverty eradication then it would be through direct cash payments from natural resource revenues to the citizens of a country: a mechanism by which citizens of a nation, share in its wealth earnings while making sure that the earnings keep growing for future generations (here,here). It is a tantalizing prospect. (here,here)
Africa has mineral revenues and much more that can end poverty. It seems, that whatever the so called developed world craves, Africa already has: from mineral resources to yet to be discovered deposits of diamonds, oils, rare earth; to agriculture land (here, here and here); and even children (here andhere). Yet, whatever enriches the so called developed world from Africa seems to not benefit the continent itself enough or fast enough. Why is that? And what will need to be done to change it?
It is time to transform the discussion on economic growth drivers and development aid by adding into the equation the distribution of mineral and hydro carbons revenues (here). Yet this is left out of the latest discussions, in the public square of elite policy making (here andhere). Similarly the current discussions on the growth from the mining sector still revolves on direct and indirect jobs created through mining and Government investments in social and economic infrastructure on behalf of citizens. The discourse continues on without focusing on giving agency to individuals and providing them with the cash and the tools for making choices for how they spend or invest their cash for their social and economic wellbeing. Mineral rich countries may have had the potential for even greater gains in HD outcomes if they had adopted different policies for how they used mineral revenues.

