Namibia Accelerates First Oil Production to Boost Energy Security and Economic Growth
23:07 24.04.2025 (Updated: 23:44 24.04.2025)
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Namibia Accelerates First Oil Production to Boost Energy Security and Economic Growth
In her first State of the Nation Address, Namibia's President Netumbo Nandi-Ndaitwah pledged to achieve first oil production in record time by accelerating partnerships, streamlining regulations, and investing in infrastructure.
“This milestone will not only fuel our energy security but also drive rural and peri-urban electrification, job creation, local capacity development and sustainable growth for generations to come,” she said.
Discussions on nuclear energy are also set to begin this financial year.
The president noted the growth of the Welwitschia Sovereign Wealth Fund to N$450 million ($24.1 million) and projected a 4.5% economic expansion in 2025.
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