{"id":44204,"date":"2023-05-05T15:55:01","date_gmt":"2023-05-05T15:55:01","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor"},"modified":"2023-05-05T15:59:10","modified_gmt":"2023-05-05T15:59:10","slug":"namibias-oil-sector-must-benefit-country-says-central-bank-governor","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor","title":{"rendered":"Namibia\u2019s Oil Sector Must Benefit Country, says Central Bank Governor."},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Namibia\u2019s Central Bank Governor, Johannes !Gawaxab has emphasized the need for a clear legal framework to support the development of the country\u2019s oil sector. !Gawaxab stressed that it is crucial to ensure that revenues from the sector are generated for the benefit of the nation and not for the interests of a few individuals. The governor also called for measures to be put in place to prevent corruption and nepotism in the oil sector through clear legal structures and regulations.<\/p>\n

It is essential that all Namibian citizens and companies involved in the oil sector fully understand the legal basis on which they can extract and use oil off the country\u2019s coast, !Gawaxab added. The governor noted that there have been many negative examples worldwide regarding oil, and Namibia must avoid such cases. The governor emphasized that it is crucial to ensure that the development of the oil sector aligns with the country\u2019s best interests and promotes sustainable growth.<\/p>\n

Namibia has vast offshore oil reserves, which can significantly boost the country\u2019s economy. However, the potential negative impact of oil extraction on the environment and the socioeconomic well-being of communities cannot be ignored. Therefore, it is crucial to have a clear legal framework that ensures responsible and sustainable practices in the oil sector.<\/p>\n

In conclusion, the Central Bank Governor\u2019s call for a clear legal framework to support the development of Namibia\u2019s oil sector is a step in the right direction. It is essential to ensure that the development of the sector benefits the nation as a whole and not a few individuals. The implementation of clear regulations and structures can help prevent corrupt practices and promote responsible and sustainable oil extraction practices. Namibia must learn from the negative examples worldwide and strive to develop its oil sector in a manner that aligns with its best interests and promotes sustainable growth.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Namibia\u2019s Central Bank Governor, Johannes !Gawaxab has emphasized the need for a clear legal framework to support the development of the country\u2019s oil sector. !Gawaxab stressed that it is crucial to ensure that revenues from the sector are generated for the benefit of the nation and not for the interests of a […]<\/p>\n","protected":false},"author":84,"featured_media":44203,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,249],"tags":[234,236,233],"class_list":["post-44204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nNamibia\u2019s Oil Sector Must Benefit Country, says Central Bank Governor. - Namibia<\/title>\n<meta name=\"description\" content=\"Namibia\u2019s Central Bank Governor, Johannes !Gawaxab has emphasized the need for a clear legal framework to support the de ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Namibia\u2019s Oil Sector Must Benefit Country, says Central Bank Governor.\" \/>\n<meta property=\"og:description\" content=\"Namibia\u2019s Central Bank Governor, Johannes !Gawaxab has emphasized the need for a clear legal framework to support the de ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-05T15:55:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-05T15:59:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/05\/postQueueImg_1683285917.66.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"474\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Namibia\u2019s Oil Sector Must Benefit Country, says Central Bank Governor.\",\"datePublished\":\"2023-05-05T15:55:01+00:00\",\"dateModified\":\"2023-05-05T15:59:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor\"},\"wordCount\":338,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/05\/postQueueImg_1683285917.66.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-oil-sector-must-benefit-country-says-central-bank-governor\",\"name\":\"Namibia\u2019s Oil Sector Must Benefit Country, says Central Bank Governor. - 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