Here, the recent evolution of Nigeria’s oil sector is instructive (yes, Nigeria). The emerging turnaround is primarily because of more robust involvement by Nigerian private sector players. They have skin in the game and can make long-term bets. They get the political economy. They have nowhere to run, and therefore will stand their ground and move the needle on policy improvements as they advance their interests. They are more likely than foreign firms to de-enclave their operations, including by reinvesting windfalls in non-resource sectors of the economy. And overall, their very presence can be a catalyst for reorienting elite thinking and habits away from two-bit rent-seeking.