By Tom Pfeiffer
 
Although Libya ranks among Africa’s wealthiest nations based on per capita Gross Domestic Product, social problems within the oil-rich country prevail. Nearby oil-producing nations steadily march toward the first world, yet Libya seems worlds behind – fraught with poor and under performing schools, hospitals, utilities, transportation and banks. And meanwhile, private businesses continue to fight a losing battle against corrupt state-supported organizations that monopolize the country’s most lucrative economic asset – oil.

But help may be on the horizon, notes Tom Pfeiffer in his recent article published by Reuters Africa, if Libyan Head of State Muammar Gaddafi succeeds in his intent to shift the balance of power in favor of “ordinary people” to devise new – and moral – ways to share in Libya’s oil wealth. “This is no hollow speech,” agrees Rajeev Singh-Molares, a senior partner at Monitor Group, which produced a national economic strategy report for Libya. “There’s a real intent to make [this] government more efficient at decision making and channeling the $110 a barrel oil price into making meaningful differences in people’s lives.”

With Gaddafi’s emphasis on fostering enterprise, Libya’s state bureaucracy would take on a solely regulatory role – a move that could mean more foreign investment. “Whatever the details, Libyans say action of some sort is vital to turn oil wealth into rising living standards,” and many observers agree that Gaddafi is the only man who can bring about this clearly vital change right now.