Senegal's newly elected President Bassirou Diomaye Faye addresses the audience after he took the oath of office as president during the inauguration ceremony in Dakar, Senegal April 2, 2024. REUTERS/Zohra Bensemra/File Photo Purchase Licensing Rights, opens new tab
DAKAR, April 3 (Reuters) - Senegal will conduct an audit of the oil, gas and mining sectors, newly elected President Bassirou Diomaye Faye told the nation in a televised speech on Wednesday, while also reassuring investors they were welcome in the country.
Faye defeated the ruling coalition's candidate in a March election by a landslide, reflecting high hopes for change in the country of around 18 million.
The audit is one of the first policy moves announced since the 44-year-old former tax inspector's inauguration on Tuesday.
Advertisement · Scroll to continue
"The exploitation of our natural resources, which according to the constitution belong to the people, will receive particular attention from my government," he said.
"I will proceed with the disclosure of the effective ownership of extractive companies (and) with an audit of the mining, oil, and gas sector."
He did provide further details, but sought also to reassure investors, who he said were "welcome in Senegal."
Advertisement · Scroll to continue
Senegal's first offshore oil development is due to start production in mid-2024. The Sangomar oil and gas project operated by Woodside Energy (WDS.AX), opens new tab is expected to produce about 100,000 barrels per day.
The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.
Reporting by Diadie Ba and Bate Felix; Writing by Alessandra Prentice; Editing by Chris Reese and Costas Pitas
Our Standards: The Thomson Reuters Trust Principles.
