Africa is endowed with an incredible amount of natural resources of which
the extractive sector is a key component. Unfortunately, however, the continent
is characterized by a paradox of plenty or resource curse, depicting a situation
of abundant resources that have not translated into economic growth and
prosperity for the population. The potential role of the extractive sector is
further affected by global volatilities. This article reviews the importance of
the extractive sector to selected African countries. It identifies sources of