STAFF WRITER
DEPUTY Prime Minister and Minister of Industries, Mines and Energy Natangue Ithete says Namibia will rake in about N$7.7 billion annually from the exploitation of its oil and gas reserves.
Speaking at the ongoing oil and Gas conference in Windhoek on Wednesday Ithete said every barrel and cubic foot from the oil and gas reserves 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,” Ithete said.
He welcomed investors to Namibia but reiterated that the country will only engage them on her own terms.
“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,” he said.
Ithete said the Namibian government needs to make the most of the money coming from the oil and gas industries to develop its infrastructure and improve the lives of ghe local folk.
“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. Colleagues at the ministries and relevant institutions, we have one chance to get this right, therefore, failure is not an option! We must succeed, so that the oil beneath our seas fuel prosperity long after the wells run dry. If we fail, history will judge us harshly.
“Let us choose wisely. Let us move from exploration to action with discipline, with unity, and with the unshakable belief that Namibia and African’s best days are ahead,” he said.
Ithete said Namibia will work closely with its Southern African neighbours in the spirit of unity.
“This discovery demands collective actions, discipline, long-term vision, and courage from all of us, because development is not a one- man show, it is rather multifaceted. The big turnout of participants here today is encouraging indeed,” he said.
He added that, “Let us foster working relationships, collective strategic plans of actions toward a realisation of Namibia and Africa as leaders in the oil and gas industries. I am calling for unity of purpose because we have seen before, nations rich in oil and gas that become poorer in spirit, divided in society, and became victims of their own resources.”
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