Why Should Tanzania Engulf Its Natural Wealth? A History worth Attention and Lessons Learnt From Economic Hurdles

This is a review paper on recent progress in Tanzania‟s natural resources management hurdles towards their full utilization for economic development. The paper summarizes how borrowed legal framework has led astray economic flourishment in the natural resource sector in Tanzania. It shows tactful international web-pin Tanzania had entered into and from which the rescue would have been impossible if the Tanzania‟s President, Hon. John Joseph Pombe Magufuli (JPM) wouldn‟t have acted to end the overdue misery of the nation. Feeble legal framework in natural resources and investment laws thereon have fore-fronted in this paper as the underlying cause for failures to manage Tanzania‟s natural resources. In particular, Foreign Direct Investments (FDIs) is pointed to be one of the drivers through which Tanzania was trapped and exploited-a loop created by foreign adopted legal framework. The paper reckons on Tanzania‟s inability to out-way the tactics within which its natural resource and investment laws had tumbled. It commends enactment of new natural resource laws and explains hopes availed by the new laws.