Introduction

Senegal is now an oil producer. According to figures released by the government, at least 100,000 barrels a day will be produced. This production will generate billions of dollars in revenue and accelerate the country’s development. In view of this, the population is nurturing high expectations, even if this hope runs the risk of giving rise to bad governance or the curse of resources.

The first barrels of oil production

After several years of waiting, the country of Teranga has taken a major step towards oil production. On 11 June, the newly installed government produced its first barrel of oil. This was the start of oil extraction from the Sangomar field (100 km from Dakar). According to some, this oil exploitation must be ‘well managed’ by the government. Some well-informed Senegalese are particularly concerned about the transparent management of oil resources. They are aware of the consequences that this could have in a difficult context for the country. In fact, world history has witnessed several countries fall into conflict because of oil and the attempt to monopolise and unfairly share oil revenues. This is why some people want to see sober and virtuous management by publishing all the data relating to the exploitation of oil and gas.  In addition, civil society actors are advising the authorities and leaders to find ways and mechanisms to invest in key development sectors such as education, agriculture, livestock farming and other key sectors.

The risks of the oil curse

The enthusiasm shown by the population after the announcement of the first production of a barrel of oil is temporary. For the simple reason of the consequences that may arise in this context.  Opinions remain mixed, and some people are calling for caution, because according to them, oil is often synonymous with instability. They are calling on the authorities to be vigilant if they do not want the country to experience an untimely turn of instability like Iraq and Libya.

Recommended solutions

Despite the benefits of natural resources for a country’s development, oil is also the greatest catalyst for instability. For this reason, a number of solutions have been put in place to avoid chaos. Civil society actors have sent a letter to the authorities calling for sober and virtuous management to avoid ‘the curse of oil’. They called on the government to draw inspiration from the wealth distribution policies in force in the Arab countries of the Gulf to quell frustrations. To crown it all, they believe that oil money should not just be used to build roads and bridges, but that the most remote localities should benefit from it to reduce territorial disparities.

Conclusion

In short, despite the real opportunities presented by oil and gas, the new President must take up the economic challenges of creating wealth and promoting employment.

Building on oil and gas development, particular emphasis should be placed on tackling the high cost of living (rent, foodstuffs, water and electricity, etc.), developing the private sector and ensuring the employability of young people and women, in order to boost industry and SMEs.