Photo: JohnMMM (Flickr)

Typically, the discovery of “black gold” in African countries has led to conflict over land and overwhelms governments with more revenue than can be effectively managed. Brutal secessionist conflicts have been taking place for years in countries rich with oil, including Sudan, Nigeria and Angola. Ghana hopes to buck the trend. The country is one of the most stable on the continent and responsible development of its oil industry can provide a good model for other African nations.

"There’s no reason that oil should be a curse,” one government official told Financial Times, which recently published a special report on Africa's fossil-fuel resources. “We want to make sure we follow the example of countries like Canada or Norway who’ve used oil to their benefit."

Why can’t African countries – or any developing country, for that matter – use newfound oil wealth to raise living standards for all citizens? For starters, the oil market is vulnerable to price shocks, and the centralized revenues are susceptible to theft. Dependency on oil as a primary commodity can discourage economic diversification.

Another critical issue is the exploitation of indigenous populations near extraction sites, a prime example being the abuses felt by those in the Niger delta region of Nigeria. Governments frequently overlook the fundamental needs of communities adjacent to oil drilling sites. Ghana’s new oil find may not be very beneficial to communities that fish the waters where the discovery was made.

Can Ghana avoid these pitfalls? The government says it plans to use the oil wealth to turn Ghana into "a middle-income country" by 2015, and to invest in infrastructure, health care and education. That's reminiscent of rhetoric used by officials in Nigeria, Angola, and the Congo — all are failing to follow through with those promises.

Can Ghana succeed in turning the “black gold” into a blessing for its citizens, or will oil once again prove a curse?

A recent development in oil-rich Nigeria has all but been overlooked in recent news coverage as the violence in Kenya continues to garner most media attention. The forced leave of absence of an anti-corruption chairman in Nigeria could lead to tensions and international implications similar to those unfolding in Kenya.

Nigeria's failure to encourage positive and widespread development is often attributed to heavy corruption within its governing bodies. Corruption is blamed for the loss of millions in oil revenues; money that is critical for the country to address issues like rampant poverty and a failing infrastructure. Nigeria has great potential to be a positive model for other African countries in the area of international trade and population management. Its success in these areas, though, are directly linked to whether or not Nigeria can curb its corruption problems.

Shock, outrage and, in some quarters, relief, greeted news that Nuhu Ribadu was being sent on a year-long training course in the midst of launching the biggest graft prosecutions ever seen in Nigeria, perhaps in Africa. Although far from universally popular, the chairman of the Economic and Financial Crimes Commission (EFCC) was credited with doing the most to bring some of the country’s hitherto untouchable politicians to book.