Dar es Salaam. Economists have proposed that for Tanzania to benefit from its ongoing extractive activities, the revenue collected should be directed into investment projects.
In a tone that seems to echo that of the International Monetary Fund, they said the revenue should specifically be channeled toward developing infrastructure – railway roads, eletricity and ports – as well improving the health and agriculture sectors.
The economists made the proposal yesterday in Dar es Salaam at a one-day Consultation meeting with Higher Learning and Research Institutions on Tanzania Natural Resource Charter Programme (TNRC).
TNRC is a framework that gives guidance on the chain of complex economic decisions that have to be made in order to transform extractive wealth into inclusive development.
A lead researcher from Uongozi Institute, Prof Ammon Mbelle said one way the country can benefit from the resources is to invest the revenues from oil and gas.