Nigeria Position

Developing Diverse Economies Away from a

Reliance on Natural-Resource Rents and Revenues

„In the hope of seeking a society of citizenship, justice, equality, booming, progress

and prosperity wherein there is no place for injustice, tyranny, despotism,

exploitation and dictatorship", the paramount aim of our young Libyan Democracy is

to establish a stable democracy with the political multitude and the estate of

institutions, to create a society wherein all can live in stability, tranquility and justice.

In oder to do so, Libya depends, and will depend for several more years, on one

essential resource that stands for the wealth of this prosperous land: oil. Talking

about the development of diverse economies, the way of achieving this aim must be

at least a two-staged one. In the first phase, within the current transitional period,

characterized by instability within and outside the country, the establishment of

functioning, democratic, political instituions is prior on the political agenda. After

more than four decades of Gaddafi-rule, the Libyan people finally have the

perspective of self-determination and freedom. Not until these fundamental

institutions helped to build spheres, where rule of law and self-determination can be

securely promoted, the second stage can start.

Basing upon those capabilites, the creation of a stable, interconnected and globally

working economy in Libya would be possible. Nevertheless, this long term aim will

not be achieved without the focus on processing oil, to learn and develop, to

interchange knowledge and experience with our partners worldwide, to have a

foundation for innovation and investement. We believe that economic stability is

inevidently linked to political stability. The strategic position in the mediterrean sea

is another positive aspect for Libya to specialize in, e.g. renewable energy, becoming

a synonym for modern, advanced technologies, providing energy for the future. The

process of lifting US unilateral sanctions began already in the spring of 2004; all sanctions were removed by June 2006,