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I would like to weight on the 3 "prescriptions" that Paul Collier recommends.
1st recommendation:
"the G-8 policy should adopt common set of rules to encourage African exports rather than make aid commitments".
Why should the G-8 countries give special privileges to Africa (and not Caribbean ad Pacific countries that are part of bottom billion)? Why can't G-8 countries open their trade policies to all the countries? Why should only G-8 change their rules? African and other states should also open their trade to the world.

2nd and 3rd suggestions go hand in hand
If the countries that are awash with money from oil and natural resources, tend to have higher corruption, wouldn't the same logic apply if G-8 countries give a "Marshall Plan" aid for the bottom billion. What would stop corruption when aid is given?
Furthermore, there are evidence that the "Marshall Plan" had no long-tern effects on European economies. In fact, it may have even hurt them. For example, Germany recovered relatively quickly from debris of World War II because of its liberal, pro-business policies that USA opposed but did not stop (for further information on this subject read "Commanding Heights: The Battle for the World Economy", a book by Daniel Yergin and Joseph Stanislaw).