Namibia will produce first oil soonest – Nandi-Ndaitwah

President Netumbo Nandi-Ndaitwah says her administration will focus on ensuring Namibia produces its first oil “within the shortest timeframe”.

She said this during her first state of the nation address (Sona) in the National Assembly on Thursday.

The president said her administration will accelerate strategic partnerships, streamline regulatory processes, and invest in critical infrastructure to unlock the full potential of Namibia’s 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.

“While I’m 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,” she said.

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$262 million in May 2022, to N$450 million in January.

The Namibian economy is estimated to have grown by 3.8% in 2024, reflecting a slowdown from 4.2% recorded in 2023, while it is expected to expand to 4.5% in 2025.

“While government debt remained high at 61% 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, the president 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 this evil.

“I empathise 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.

She called on the police to intensify visible patrols to eliminate crime.