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SOMALIA: Benefits – and risks – of Puntland oil | IRIN Africa

NAIROBI, 8 March 2012 (IRIN) – The recent discovery of oil deposits in the self-declared autonomous region of Puntland, northeastern Somalia, could improve its population’s livelihoods as long as it is handled properly, officials and locals told IRIN.

Farah Ali Jama, Puntland Minister of Finance, said he was confident that any money from the oil would be handled properly and improve the lives of all Somalis. “I am 100 percent confident that this resource will improve people’s livelihoods,” he said, adding, “we will not fall into the mistakes made by others.”

For more on this story, visit: IRIN Africa | SOMALIA: Benefits – and risks – of Puntland oil | Somalia | Conflict | Early Warning | Economy | Food Security | Governance.

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