A Review of the Nigerian Energy Industry

Somalia Oil and Gas Summit concluded in London

Drilling rig08 October 2013, London – The Somalia Oil and Gas Summit ended in London, Tuesday with the country’s Minister of Finance and Planning, Mohamud Hassan Suleiman, describing Somalia as an investment-friendly nation and encouraging investors to “seize the opportunity” to invest in the country.

The Minister said: “We are working to improve the investment climate having recently revised the Investment Law to ensure that Somalia is investment-friendly. Foreign investors see the huge steps that Somalia has taken and are keen to invest.

“International investors and multi-national corporations are turning their attention to Somalia and we must now seize the opportunity and work with them.

“The discovery of oil and gas in Somalia opens up an array of hope and opportunities for the new Somalia; enabling it to influence the pace of economic recovery and the future stability of the country.

“The potential for oil and gas to drive Somali people out of the poverty they are in, and positively contribute to the well-being of the war affected communities, will only be realized if they are fully integrated into the Somali Compact just signed in Brussels.

Such a move would link this important industry with other productive and service sectors of the economy and becomes a catalyst for rapid economic growth and sustainable development in the country.

“It is important that Somalia gets a fair share of the profit which in turn contributes to economic growth of the new Somalia and improves the livelihoods of our war affected people.”

– Dalsan Radio

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