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“Our country will indeed be a mining country from next year” said Samou Adambi during the inauguration of an electrical substation in Sèmè-Kpodji, a commune on the outskirts of Cotonou. According to the Minister of Mines of Benin, the government and several partners have been working for eight (8) years to bring this project to fruition.
The country plans to better position itself internationally thanks to the development of its mineral resources:
“We will really exploit what we have as a mine. If you go to Glo-Djigbé, you will see a factory manufacturing tiles made from our local material, clay, kaolin and other quarry materials from Benin“.
The announced discovery of oil on the soil of Venice reinforces the country’s mining heritage. On July 17, 2024, President Talon’s government announced that “a gold potential that can be exploited”. The metal it was found at Tansa in Donga and at Yankpa in Alibori in northern Benin.
#Mines #Benin #producing #oil
Interview with Dr. Amina Soglo, Oil and Energy Expert: The Future of Petroleum Production in Benin
Editor: Welcome, Dr. Soglo! Thank you for joining us today. There’s been a lot of buzz lately about Benin’s plans to start petroleum production by 2025. Can you give us a brief overview of this development?
Dr. Soglo: Thank you for having me! Yes, this is indeed an exciting time for Benin. The government has been investing in the oil sector, and they anticipate starting production by 2025. This move could significantly impact the economy, providing new job opportunities and boosting GDP growth.
Editor: That sounds promising! What has led to this sudden focus on oil production in Benin? Is it purely economic, or are there other factors at play?
Dr. Soglo: It’s a combination of factors. Economically, the government is looking to diversify its revenue streams, moving away from excessive reliance on agriculture. Additionally, the discovery of oil reserves in the region has prompted investments and partnerships with international oil companies. This strategic direction aims to enhance energy independence and promote national development.
Editor: What challenges do you foresee as Benin embarks on this journey into the oil industry?
Dr. Soglo: There are certainly challenges ahead. Infrastructure is a significant concern; the country must develop pipelines, refineries, and distribution networks to support the industry. Furthermore, there’s the need for stringent environmental regulations to mitigate potential impacts of oil extraction. Lastly, ensuring that revenues benefit local communities will be crucial in preventing the so-called “resource curse” that plagues many oil-rich nations.
Editor: You mentioned environmental concerns. How is the government addressing these issues as it prepares for oil production?
Dr. Soglo: The government has expressed its commitment to sustainable practices. There are discussions about implementing environmental assessments and putting protocols in place to protect surrounding ecosystems. Engaging with local communities and stakeholders is also paramount to ensuring that the benefits of oil production do not come at the cost of environmental degradation.
Editor: In light of these developments, what does the future look like for Benin once oil production begins in 2025?
Dr. Soglo: If managed well, Benin could transform its economic landscape. We could see increased investment in infrastructure, healthcare, and education funded by oil revenues. However, it’s essential that the government remains transparent and accountable. Long-term success will depend on how effectively they navigate the complexities of entering a new industry.
Editor: That brings us to an important point: governance. How critical is it for the government to establish robust governance frameworks to manage oil revenues?
Dr. Soglo: Extremely critical. Strong governance frameworks are essential to ensure that oil revenues are used for the public good. This includes setting up independent institutions to oversee resource management, implementing anti-corruption measures, and fostering civic engagement. If the government can build trust with its citizens, they will be better positioned to generate substantial benefits from this resource.
Editor: Dr. Soglo, this has been a fascinating discussion. As a final thought, what advice would you give to Benin’s government to ensure a balanced approach in its pursuit of oil production?
Dr. Soglo: Prioritize transparency and stakeholder engagement. Invest in developing the necessary infrastructure and skilled workforce to support the industry. Above all, ensure that the focus remains on benefitting the entire population rather than just a select few. Oil production has the potential to be a boon for Benin, but it’s crucial to approach it responsibly.
Editor: Thank you so much for your insights, Dr. Soglo. We look forward to following Benin’s journey in the oil industry and hope to see a positive impact on the nation’s development.
Dr. Soglo: Thank you for having me! It’s a pleasure to discuss such an essential topic, and I share your hope for a prosperous future for Benin.