Senegal's new leader announces audit of oil, gas and mining sectors

In his first speech to the nation since his election as president of Senegal, Bassirou Diomaye Faye said one of his first policy moves would be to audit the country's oil, gas and mining sectors to root out corruption.

"The exploitation of our natural resources, which according to the constitution belong to the people, will receive particular attention from my government," said Faye in the president's traditional speech given the day before the country's independence day.

"I will proceed with the disclosure of the effective ownership of extractive companies [and] with an audit of the mining, oil, and gas sector."

Senegal's first offshore oil development is due to start production in the middle in this year.

The Sangomar oil and gas project, operated by the Australian Woodside Energy is expected to produce about 100,000 barrels per day.

Faye, a former tax inspector who defeated the ruling coalition's candidate by a landslide in last month's presidential election, also sought to reassure investors, who he said are "welcome in Senegal".

"Investor rights will always be protected, as well as the interests of the state and the people," he said.

The 44-year-old pan-Africanist has become the youngest leader ever in charge of Senegal, and the youngest currently in power in Africa.

He has never held elected office before.
(with Reuters)