The Institute for Public Policy Research's (IPPR) latest Procurement Tracker edition indicates that the local content policy for the oil and gas industries is likely to result in the revision of the Petroleum Act and its regulations, as well as the model petroleum agreement the Mines and Energy Ministry has with the international oil companies.

The procurement tracker highlighted some of the procurement risks that local policy content carries for Namibia.

Mines and Energy Ministry aims to attract more investors and embrace innovation as well as improve transparency in the industry. 

The ministry further pledges to continue to support small miners and contribute to job creation.

This was the remark of its Deputy Minister Kornelia Shilunga when tabling the ministry's budget of N$250 million for the 2023-2024 financial year in the National Assembly today.

The minister plans to invest more in geoscience and research and energy resources.