Abdou Karim Fofana, the Senegalese Government Spokesperson and Minister of Trade and Consumption, stated that Senegal aims to become a “petrochemical economy” and is shifting towards oil and gas production.
In a comprehensive interview with Al Jazeera Net, Fofana described this direction as a “significant turning point” for Senegal, which aspires to transform into an industrial and strong economic center in West Africa.
The Minister mentioned that Senegal is preparing to produce its first quantities of oil and gas. Additionally, the country is gearing up to transition its economy to be able to develop a broader industry and important service economy, acting as a stimulus for the economy in Africa. These are the anticipated changes for Africa, according to him.
Fofana emphasized that oil and gas are key factors in boosting the economy, which will, as he stated, alter the “nature of our economy.” However, he noted that the initial exploitation operations, referring to the first expected revenues, initially scheduled for the end of the year, unfortunately got postponed to 2024.
“We want our economy to be petrochemical because we have a lot of phosphoric acid. With gas, we will be able to process it and manufacture fertilizers for the benefit of Senegal and countries behind Senegal,” Fofana added.
“We are establishing a common fund for the future generations because oil and gas belong to Senegalese today, but also to Senegalese in the future,” he clarified. He noted that this fund will enable the country to carry out strategic investments and guarantee income for Senegalese citizens.
The Senegalese Minister also highlighted that owning oil and gas resources will position his country strongly in more modern economic sectors, such as industry. He mentioned, “Many products are imported from Asia and Europe to African countries, and due to our geographical location and the resources provided by oil and gas, we will be able to become an industrial hub, a service center, and a very strong economic center overlooking the African mainland, especially in West Africa.”
Regarding the joint gas field management between Senegal and Mauritania, Fofana commented, “Firstly, we do not choose our neighbors, just as we do not choose what nature holds for us. Mauritania is a fraternal country to Senegal.”
He elaborated, “Currently, divine will has granted us a gas field extending between the two maritime regions. Our leadership from the beginning was extremely wise to agree on joint exploitation and work on not dividing between Senegal and Mauritania, as that would be difficult and meaningless.”
“This is genuine cooperation between two fraternal countries. We have agreed on all arrangements, and this is the most important. It is a cooperation that deserves welcome and encouragement, and it is quite revolutionary for two countries to achieve this in a fraternal manner despite the economic system and reality surrounding them,” Fofana concluded.
