Senegal has made major efforts to regain control of its oil and gas reserves, setting up a commission to review and renegotiate contracts with foreign companies that critics say have long favored international interests over domestic ones.
Prime Minister Ousmane Sonko announced the move as part of the government’s broader initiative to ensure Senegal’s new-found energy wealth benefits its people, fulfilling a key campaign promise made by President Bassirou Diomaye Faye and Sonko.
The commission, which is composed of experts from the fields of law, taxation and energy, was officially established on Monday.
It will closely examine contracts in Senegal’s oil, gas and mining sectors to identify areas where terms can be renegotiated in the country’s interest. The Commission has the power to call on additional foreign expertise if necessary.
This move follows President Faye’s overwhelming electoral victory, during which he promised to review and, if necessary, renegotiate contracts with foreign operators in strategic sectors.
While no details of the review and no concrete plans for renegotiation have been announced, the establishment of this Commission represents an important step towards fulfilling this commitment.
Promise
Sonko stressed that the government is determined to keep its promises to the Senegalese people.
“As a political opposition party, we have vigorously denounced the way in which agreements and conventions have been concluded, in most cases to the detriment of the strategic interests of Senegal and its people,” Sonko said.
Now that he is in power, he promises to do better.
Read more on RFI English
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