Although Endowed with Rich Natural Resources, Nigeria Is One of the Poorest

Although endowed with rich natural resources, Nigeria is one of the poorest countries in the world, illustrating that

A) colonialism hinders even resource-rich countries from developing.
B) political and institutional development and stability and sound economic policy are necessary for growth.
C) exploitation by multinational corporations can impoverish even resource-rich countries.
D) resources alone provide a poor basis for economic development.
E) global financial institutions work to the disadvantage of poor nations.