Namibia’s oil, gas sector calls for policy to drive economic diversification, job creation

Namibia’s oil and gas sector requires a Local Content Policy (LCP) to drive economic diversification and promote backward and forward linkages throughout the value chain, an official said on Thursday.

Speaking at the National Petroleum LCP workshop in the Namibian capital of Windhoek, Minister of Mines and Energy Tom Alweendo emphasized that implementing this policy would fast-track the country’s industrialization and create jobs for its citizens.

To achieve this, Alweendo stated that the LCP must prioritize in-country value creation, reinforce local entrepreneurship through skills and technology transfer, and establish enterprise opportunities.

Furthermore, Alweendo said international companies interested in participating in Namibia’s oil and gas sector must demonstrate their adherence to the LCP.
Alweendo also underscored the importance of collaboration among stakeholders and the need for an effective monitoring and evaluation system to ensure that the LCP achieves its objectives.

According to Alweendo, Namibia should establish a robust monitoring and evaluation system to track progress and measure outcomes. Without such a system, he said, it would be impossible to determine whether policies are effectively delivering on their objectives or when modifications may be necessary.

The workshop will provide stakeholders with a platform to discuss how to create an effective LCP that would benefit Namibians and generate in-country value from the exploitation of the country’s oil and gas resources. Enditem