Lagos — The once war-torn West African country of Sierra Leone has discovered oil, offshore Freetown. However, it is still not clear if it is in commercial quantity.
The first find of oil was announced by a consortium led by United States firm Anadarko, with Australia's Woodside Petroleum Ltd, Spain's Repsol YPF and Britain's Tullow Oil PLC as partners.
However, citizens welcomed the announcement with cautious optimism saying the oil should benefit the entire country.
Sierra Leone's Informa-tion, Minister Ibrahim Ben Kargbo told journalists yesterday: "President Ernest Koroma is extremely happy about the discovery but has advised that we must all be cautious and watch further developments.
"It is good news indeed. Let's all pray the oil will become a blessing to the country. If the oil becomes a flourishing industry, all Sierra Leoneans will benefit, particularly the younger generation."
The minister was further quoted by cocorioko.net as saying: "I can assure you that what happened when foreigners benefited from the diamond industry and Sierra Leoneans didn't will not happen with the oil sector."
Ordinary Sierra Leoneans were sceptical, in a country which ranks at the bottom of the UN's human development list and among the three most corrupt in the world, according to corruption watchdog, Transparency International.
"It may be the end of our woes as far as any fuel shortage is concerned," taxi driver Sallieu Jalloh said, but office assistant Salian Koroma hoped that "the discovery will not fuel corruption in the industry."
Repsol said the discovery showed the potential in a region, which has been relatively unexplored.
Anadarko is also prospecting off the coast of Liberia, Ivory Coast and Ghana.
West African states on the Gulf of Guinea, including Nigeria, Gabon, Equatorial Guinea and Sao Tome, as well as Angola and Congo, are or promise to be major oil producers, but very little of the wealth has filtered down to the populace.
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Here's hoping that the minister will be able to accomplish his intents. Prospects are not bright. It is being developed internationally, which means for export. Small amounts of money from exports are generally beneficial. Large amounts of foreign money are an economic poison. Only a small amount can be absorbed by employing local labor, the rest is absorbed as imports, which in turn displaces local workers. Develop this oil slowly and for yourselves, and it could be a blessing for generations. Unlike the diamonds, you do have use of your own for the oil. Develop it at speed, and it will be another "resource curse".
thanks steve for your cautious contribution but listen the trend is going to be like old. This is the government that was in power when gems were picked from gutters in Sierra Leone. they did nothing for the country just nothing. We are scared to death after hearing this because if these guys loose the next election they will refuse to leave power and there will serious confusion and din again!! I am not a pessimist but listening to what is happening; with the currency dying at a Zimbabwe dollar rate, prices increasing, Bumbuna not done yet, street traders that were promised that they will stay in the streets now being kicked out, cheap politics eh to win votes? The so called SLPP are currently licking their wounds and may continue to do so for long because they proved equally useless. The Rwandans after the genocide are doing far better but Sierra Leoneans keep complaining about war forever. The leadership is NOT there yet to lead that country at a time when we need a Sierra Leonean,Not a Temene, Mende etc. We lost 4 people to violence in Lungi few days ago something the community will not take lightly with APC in the future. One will write and write but I regret voting for the current government and like the SLPP that I refused to give my vote to I will be among many that will be kicking these guys out, come what may. This may sound stupid but Maada Bio will tell you that Peoples power is stronger than any plan and weapon!
My heart bleeds for my beloved country! Lonta Shero
Deltashiro,guns or jetfighters will never scare Sierra Leoneans anymore.When you loose elections,you'll get out as stipulated by the word"DEMOCRACY"(whether African or Western). Sierra Leoneans are not cowards.They're brave and strong.Come 2012 you'll see happiness.
But,I sincerely doubt whose going to get this sit from the cool and gentle Ernest Bai Koroma.Trust me he'll light up the city from Bumbuna before the 2012.He's using his political strategies on the Sierra Leonean people.He's a very clever man.
Second point,he's set and ready to make all Journalists in Sierra Leone jump in happiness.You wait and see.For now, I do not hold them tigth-neck as failures in their administration.They're far better than the SLPP-for now.For street sellers,yes,it's time they too have to think that Freetown need that beauty plus cleanliness.They can't continue holding the City Mayor or the Government down.Let's pray...and I wholeheartedly assure you that mama Salone will shine and shine.
@Steve Klaber, This is the huge price Africans have to always pay for their inabaility to explore and exploit their own natural resources. If not of the west, Sierra Leoneans will never be aware they have oil, just like other sub Saharan African countries without the capability to explore and exploit their own natural resources. This is already going to be an obvious cause for social instability in Sierra Leone.
If you say so,then you're a false witness.Are you suggesting that the discovery of oil in Sierra Leone is goint to cause social instability or you're directing the West to plan and secretly cause social instability among Sierra Leoneans? What have you not done in the past.We saw it in Irag,while the fighting was going on,oil tankers were in line in the desert.
What do you think of Africa?The West have to discover it because they badly need it to survive every day.Africans,we don't need it,that's why we don't go into other lands to cause tsunamies.The discovery of oil in the Indian lands in America did cause social instability amongst Americans.Teach me that I'm wrong.
Africans will never have to fight each other if you do not come as a tail-bearer,satirist,or a hypocrite.