Mining minister vows to protect oil wealth

Ogone Tlhage



Mines minister Natangue Iithete says Namibia must not fall into a resource curse and ensure that it effectively manages its oil and gas resources for the benefit of all Namibians.



Iithete made the comments at the Oil and Gas Conference this week, and urged the optimal use of the anticipated exploitation of future oil and gas resources.



“The ‘resource curse’ destroys economies, collapses institutions, harms the environment and leaves the people, the rightful owners of the resource, worse off than before. Namibia will not follow that path. We refuse to become another cautionary tale,” Iithete said at the conference.



It was incumbent on Namibia and Namibians at large to ensure the optimal use of these resources, Iithete said. “We must take a stand to manage, guide our offshore discovery jealously, and be a model country that translates oil and gas discovery into a catalyst for peace, unity and prosperity. Let our future generations sing songs of praise to all of us here today for putting in place legal frameworks and operational tools that will ensure there is no mismanagement of these precious resources,” Iithete said.



According to Iithete, it was important to ensure that every barrel, every cubic foot, must translate into jobs, infrastructure and opportunities for Namibians.



“The revenues will not be squandered; they will build schools, power our homes, and seed our renewable energy future. Local content will be the heartbeat of this industry, our businesses, our skills, at the centre of value creation,” he said.



Iithete also called on investors to openly collaborate with the government toward exploiting these resources.



“To investors, I say: Namibia welcomes you, but you must partner with us on our terms - terms that protect our environment, respect our communities, and share the benefits fairly. To Namibians, I say: This is your oil, your gas, your future. Rise, prepare and take your place in this new frontier. To my fellow leaders, I say: Let us govern with foresight and integrity. Oil money can vanish in a decade, but nation-building lasts forever.”