Opposition, eyeing changes to oil contracts, wins Senegal elections

DAKAR, March 25, 2024 – Senegalese opposition candidate Bassirou Diomaye Faye, whose party aims to renegotiate the country’s oil and mining contracts, is poised to be declared president after ruling coalition candidate Amadou Ba conceded in Sunday’s elections.

Official results from the polls have not yet been announced.

 

Apart from the revamp of oil and mining contracts, the coalition also aims to introduce a national currency (departing from the West African CFA franc) along with tax and Customs reforms.

“Convinced that full independence cannot be achieved without controlling the economy, livestock management, fisheries and agriculture, we are fully committed to achieving food, digital, fiscal, energy and scientific sovereignty,” the report quoted opposition leader Bassirou Diomaye Faye as saying.

Senegal is poised to become a major oil and gas producer, with first production expected later in 2024. This includes an eventual 100,000 bopd and at least 2.5 million tonnes of LNG per year from function echoPub() {document.getElementById('pub').innerHTML="

";document.getElementById('pub').parentNode.style.display = 'block';} echoPub();