By: David Shoombe and Tulimevava Simeon
The Deputy Prime Minister and Minister of Industries, Mines and Energy Natangwe Ithete informed various investors that all partnerships ought to be done on the country’s terms.
Speaking to the investors and industrial leaders at the third Oil and Gas Conference in Namibia, the deputy prime minister stated that oil, which has a potential to generate N$ 7.7 billion per year in government royalties and taxes, must be handled with integrity to benefit the nation’s communities.
Ithete stated that the government pledged “every barrel, every cubic foot must translate into jobs, infrastructure and opportunities for Namibians.”
On that account, he indicated to the investors that “you must partner with us on our terms – terms which protect our environment, respect our communities and share benefits fairly.”
Delivering a speech on the President’s behalf, special advisor and head of the upstream petroleum unit, Kornelia Shilunga, reiterated that oil and gas should benefit the Namibian people and create employment.
“Our natural resources are national assets, and their development must always serve the public good. We will not tolerate practices that undermine the Namibian people’s rightful share of the benefits,” read the President’s speech.
Moreover, Shilunga noted that the success of the oil and gas sector be measured by the lives improved, and not by barrels extracted.
For added clarity, mention was also made that the management of oil and gas had been placed under the presidency for purposes of accountability and thorough monitoring.
Making reference to the recently released Greenfield Foreign Direct Investment (FDI) Performance Index, chief executive officer of the Namibia Investment Promotion and Development Board (NIPDB), Nangula Uaandja, indicated that Namibia’s increased attraction for FDI is a crucial element for national development – especially in the energy sector.
However, Uaandja added that despite having abundant natural resources and a population of just over 3 million people, the country regularly features amongst the world’s most unequal countries.
Therefore, she asked for the consideration of Namibians who go to bed hungry, encouraging that discussions of investments in oil and gas also be centred around the challenges that people face on the ground.
Jason Kasuto, chairperson of the Economic Association of Namibia – one of the organisers of the conference – shared his glee about the interest shown in the conference by delegates from across the globe.
Kasuto noted that the number of delegates to the conference increased from 885 in 2024 to 1, 161 in 2025, with the number of business exhibitors also increasing from 39 in 2024 to 73 in 2025.
In closing, he mentioned that “in terms of the oil industry, Namibia is building roots that will establish a solid foundation for accelerated and sustainable inclusive growth.”
