Oil industry experts warn Namibia must prepare for boom

Patience Makwele

Oil industry executives have warned that Namibia faces a defining test as the country moves closer to oil production, arguing that discoveries and foreign investment alone will mean little unless the sector translates into jobs, skills and economic opportunities for ordinary Namibians.

The warnings were raised at the National Petroleum Corporation of Namibia (Namcor) headquarters in Windhoek on Tuesday during the launch of the fourth Namibia Oil and Gas Conference and Exhibition, where organisers unveiled the theme, “From Decision to Dividend: Making Namibia’s Oil Work for Namibians.”

According to the organisers, the conference’s theme signals a decisive shift from celebrating offshore discoveries to confronting the tougher challenge of converting petroleum wealth into jobs, business opportunities and skills development.

Economic Association of Namibia chairperson Jason Kasuto said Namibia was entering a critical period that would define whether the country’s oil discoveries become a genuine development story.