The Mozambican President, Filipe Nyusi, recently emphasised the need for ‘cautious management without emotions or exaggerated expectations’ in relation to the megaprojects under development in the country.
During the gala celebrating the 20th anniversary of the National Petroleum Institute (INP), held in Maputo, the head of state emphasised the importance of avoiding unrealistic expectations about the immediate benefits of these projects.
According to information from the Agência de Informação de Moçambique (AIM), Filipe Nyusi said that it is essential for Mozambicans to realise that the results of these projects, especially in the natural gas sector in Cabo Delgado, require time and a strategic approach. ‘We cannot allow emotions and exaggerated expectations to influence our perception of the potential of the Sovereign Fund and the resources it can manage,’ he warned.
The head of state also emphasised that the first revenues from shipments of liquefied natural gas (LNG) from the floating platform in the Rovuma basin are limited. ‘The revenue obtained so far is not enough for major immediate investments, such as the construction of significant infrastructure,’ he noted, referring to the amount received as insufficient to finance a road from Maputo to Xai-Xai, a distance of approximately 210 kilometres.
‘We cannot allow emotions and exaggerated expectations to influence our perception of the potential of the Sovereign Fund and the resources it can manage’
In addition, Filipe Nyusi called on the INP and other institutions to strengthen their institutional capacity in order to ensure that the country is not just a consumer, but a relevant player in the oil industry.
The President also recommended that Mozambique position itself as an attractive destination for investment in the sector, maintaining clear and competitive rules to attract concessionaires.
According to Nyusi, strengthening security and institutional stability will be crucial to transforming the natural gas reserves in Cabo Delgado into an engine for sustainable and inclusive development, benefiting both current and future generations.
According to AIM, during the ceremony, INP employees who stood out in the institution’s internal competition were also recognised, demonstrating the country’s continued commitment to the growth and efficiency of its oil industry.
