Senegal, under the leadership of President Bassirou Diomaye Diakhar Faye, is preparing to strengthen its economic sovereignty, an ambitious project which should be operational from the first half of 2025. This project is mainly based on the exploitation of the country’s mining, oil and gas resources. country. During a recent Council of Ministers, the president insisted on the need for Prime Minister Ousmane Sonko to finalize the validation process of the bill on economic sovereignty. This project will also include the implementation of Territorial Poles, key pillars for the success of national economic and social policy.
In his speech, President Faye highlighted the importance of transparency in the extractive industries and expressed his desire to guarantee inclusive governance of natural resources, exclusively at the service of the Senegalese population. Among the mechanisms to be activated, the Stabilization and Intergenerational Funds are crucial. These are governed by Law No. 2022-09 of April 19, 2022, which governs the management of revenues from the exploitation of hydrocarbons.
The Head of State also requested preparations for an upcoming meeting of the COS-PETRO-GAZ Committee, in collaboration with several ministries, for a session expected by the end of April 2025. This, in order to ensure that all aspects of resource exploitation and economic sovereignty are aligned with Vision Senegal 2050.
Other essential aspects of the plan include the strengthening of employment policy, the empowerment of territories, and the urgent operationalization of Territorial Poles. These measures aim to ensure consistency with the National Transformation Agenda. Vocational training centers must be set up quickly, with particular emphasis on the employability of young people. The government is also encouraged to intensify the development of the social and solidarity economy, while promoting the empowerment of women, including those in the diaspora.
To ensure the effectiveness of the measures taken, it is planned to develop an innovative monitoring-evaluation framework, ensuring continuous monitoring of progress made within the framework of Vision Senegal 2050. This project aims to establish governance focused on measurable results , allowing Senegal to achieve its short-term economic objectives. This information was reported by our colleagues at Sud Quotidien.
Senegal
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