Mines Minister Natangue Ithete says oil and gas could generate up to N$7.7 billion annually in government revenue through royalties and taxes.
Speaking at the opening of the third Namibia Oil and Gas Conference, Ithete described the country’s estimated 11 billion barrels of oil and 2.2 trillion cubic feet of gas as a “generational opportunity” to transform the economy, create jobs, and position Namibia—and the entire Southern African region—as a global energy frontier.
Ithete stressed that proper management of these resources could drive industrialisation, infrastructure development, skills transfer, and poverty eradication, while avoiding the “resource curse” that has plagued other resource-rich nations.
He pledged that every barrel and cubic foot extracted would translate into tangible benefits for Namibians, from building schools and powering homes to funding renewable energy.
Local content, he said, would be “the heartbeat” of the industry, with businesses and skills at the centre of value creation.
He called for unity of purpose among African nations, noting that President Netumbo Nandi-Ndaitwah’s first visits abroad after taking office focused on strengthening regional cooperation.
To investors, Ithete said Namibia welcomes partnerships that protect the environment, respect communities, and ensure fair benefit-sharing.
He urged fellow leaders to govern with foresight and integrity, warning that oil wealth could vanish in a decade but that nation-building lasts forever.
The conference, held at the Mercure Hotel in Windhoek, brings together government officials, industry representatives, investors, and civil society under the theme “From Exploration to Action: Positioning Namibia as the Next Energy Frontier.” It follows masterclasses aimed at youth, local stakeholders, and suppliers seeking opportunities in the emerging oil and gas sector.
