https://en.sputniknews.africa/20250424/namibia-will-achieve-first-oil-production-in-shortest-timeframe-president-1072267345.html
Namibia Fast-Tracks First Oil, Eyes Energy Security and Economic Growth
Namibia Fast-Tracks First Oil, Eyes Energy Security and Economic Growth
Sputnik Africa
Namibia's President Netumbo Nandi-Ndaitwah said the Eighth administration will place unwavering focus on ensuring that Namibia achieves first oil production... 24.04.2025, Sputnik Africa
2025-04-24T18:48+0200
2025-04-24T18:48+0200
2025-04-24T18:55+0200
namibia
netumbo nandi-ndaitwah
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crime
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Nandi-Ndaitwah, in her first State of the Nation Address on Thursday, said her administration will accelerate strategic partnerships, streamline regulatory processes, and invest in critical infrastructure to unlock the full potential of hydrocarbon resources.Namibia, she noted, is the third-highest producer of uranium in the world, and as part of value addition, the country must not shy away from using God-given resources to contribute to its energy mix.The president also revealed that the Welwitschia Sovereign Wealth Fund, established in 2022 to secure generational wealth, has grown steadily from an initial seed capital of N.dollars 262 million (over $14 million) in May 2022, to N.dollars 450 million ($24.1 million) in January 2025.The Namibian economy is estimated to have grown by 3.8 percent in 2024, reflecting a slowdown from 4.2 percent recorded in 2023, while it is expected to expand to 4.5 percent in 2025.Meanwhile, Nandi-Ndaitwah reminded the nation that the government has taken a zero-tolerance stance against gender-based violence (GBV), urging all stakeholders to work together to fight the evil of GBV and violence against children.
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namibia, netumbo nandi-ndaitwah, oil, violence, economy, resources, crime
namibia, netumbo nandi-ndaitwah, oil, violence, economy, resources, crime
Namibia Fast-Tracks First Oil, Eyes Energy Security and Economic Growth
18:48 24.04.2025 (Updated: 18:55 24.04.2025) Namibia Press Agency (NAMPA)
Namibia's President Netumbo Nandi-Ndaitwah said the Eighth administration will place unwavering focus on ensuring that Namibia achieves first oil production within the shortest timeframe.
Nandi-Ndaitwah, in her first State of the Nation Address on Thursday, said her administration will accelerate strategic partnerships, streamline regulatory processes, and invest in critical infrastructure to unlock the full potential of hydrocarbon resources.
“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.
Namibia, she noted, is the third-highest producer of uranium in the world, and as part of value addition, the country must not shy away from using God-given resources to contribute to its energy mix.
“While I am not in a position to tell you when we will have a nuclear energy power plant in Namibia, I can assure you that the discussions will certainly begin this financial year,” said Nandi-Ndaitwah.
The president also revealed that the Welwitschia Sovereign Wealth Fund, established in 2022 to secure generational wealth, has grown steadily from an initial seed capital of N.dollars 262 million (over $14 million) in May 2022, to N.dollars 450 million ($24.1 million) in January 2025.
The Namibian economy is estimated to have grown by 3.8 percent in 2024, reflecting a slowdown from 4.2 percent recorded in 2023, while it is expected to expand to 4.5 percent in 2025.
“While Government debt remained high at 61 percent of Gross Domestic Product for the year under review, we are hopeful that the projected expansion of economic activity in 2025 and 2026 can lead to a reduction in Government debt,” she stressed.
Meanwhile, Nandi-Ndaitwah reminded the nation that the government has taken a zero-tolerance stance against gender-based violence (GBV), urging all stakeholders to work together to fight the evil of GBV and violence against children.
“I condole with the parents and family of five-year-old Ingrid Maasdorp, whose young life was brutally cut short at Okahandja,” she said, stressing that Namibia must be a safe place for all citizens and visitors to work and raise their families calling on the Namibian Police Force to intensify visible patrols to eliminate crime in the communities.
