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Namibia has vowed to transform its recent offshore oil discoveries into long-term jobs and national wealth, with government insisting strict oversight will prevent the so-called “resource curse.” Speaking at the 2025 Namibia Oil and Gas Conference in Windhoek, Deputy Prime Minister and Minister of Industries, Mines and Energy, Natangue Ithete, said the discoveries could redefine the nation’s future if managed responsibly.
“We must take a stand to manage [and] guide our offshore discovery jealously, and be a model country that translates oil and gas discovery into a catalyst for peace, unity and prosperity. Let our future generations sing songs of praise to all of us here today for putting in place legal frameworks and operational tools that will ensure there is no mismanagement of these precious resources,” noted Ithete.
Government projections suggest oil and gas could generate up to N$7.7 billion annually through royalties and taxes. Ithete urged citizens to take ownership of the opportunity by saying, “To Namibians, this is your oil, your gas, your future, rise, prepare and take your place in this new frontier. To my fellow leaders, let us govern with foresight and integrity. Oil money can vanish in a decade but nation building lasts forever.”
He stressed that local people must directly benefit through jobs, infrastructure and social services. “Local content will be the heartbeat of this industry, our businesses, our skills, at the centre of value creation. Every barrel, every cubic foot, must translate into jobs, infrastructure, and opportunities for Namibians. The revenues will not be squandered. They will build schools, power our homes, and seed our renewable energy future,” explained Ithete.
However, he warned that failure to put strong systems in place would carry grave consequences. Ithete stated, “Colleagues at the ministries and relevant institutions, we have one chance to get this right, therefore, failure is not an option! We must succeed, so that the oil beneath our seas fuel prosperity long after the wells run dry. If we fail, history will judge us harshly.”
He said Namibia would not repeat mistakes of other resource-rich nations. “The ‘resource curse’ destroys economies, collapses institutions, harms the environment and leaves the people, the rightful owners of the resource, worse off than before. Namibia will not follow that path. We refuse to become another cautionary tale,” added Ithete.
President Netumbo Nandi-Ndaitwah, in remarks read on her behalf, reinforced this stance, warning international oil firms against malpractice. “We will not tolerate practices that undermine the Namibian people’s rightful share of the benefits. Namibia’s natural resources belong to the Namibian people, therefore their development must always serve the public good, not private interests alone,” said Nandi-Ndaitwah.
Namibia began oil exploration in 1974 with its first Orange Basin well. Since then, 26 wells have been drilled and extensive seismic surveys conducted. The breakthrough came in 2022, when multiple deep- and ultra-deepwater finds at depths of up to 3,000 metres turned the country into one of the world’s most closely watched new oil frontiers.
