What is the agreement of Somalia sharing resources?

Photo/Somali Times

Further details can be found in the formal agreement reached on the country’s resource-sharing system, which has been under way for some time, and is being pursued by the federal and state governments.

The ministerial committee responsible for advising and deciding on resource issues has finally jointly approved an agreement on the country’s sharing system, which is crucial for the exploitation of resources.

Mr Abdirashid Mohamed Ahmed, Somalia’s Minister of Petroleum and Minerals, described the agreement as an important step forward.

“It is an important step that will definitely play a role in our efforts to explore and utilize our resources, for the benefit of our nation,” said Somali Minister of Petroleum and Minerals Abdirashid Mohamed Ahmed.

The federal government is also working to understand and prepare for the extraction of the country’s resources.

However, Somalia is now gearing up to exploit its natural resources, so that the Somali people and the country can achieve greater development.