Extractive sector: 39.6 billion FCfa generated in Saint-Louis

The Saint-Louis region confirms its growing weight in the Senegalese extractive sector. According to the 2024 EITI Report presented Wednesday during a Regional Development Committee (CRD), the region generated 39.6 billion FCFA in revenue from oil and gas activities.

This performance comes in a context marked by the gradual start of exploitation of the Grand Tortue Ahmeyim (GTA) project, which now places Senegal in the era of hydrocarbon production. For the authorities, 2024 constitutes a pivotal year for the repositioning of the extractive sector in the national economy.

At the national level, the extractive sector contributed 455.99 billion FCFA. Saint-Louis thus represents nearly 8.7% of total revenue, with more than 38 billion FCFA returned to the state budget.

Presenting the report, the president of the National Committee of the Extractive Industries Transparency Initiative (CN-ITIE), Thialy Faye, highlighted the country’s entry into a new economic phase. “The year 2024 ushers in a new economic cycle called to reposition the extractive sector in the national landscape,” he declared.

For the governor of Saint-Louis, Al Hassan Sall, these figures confirm the strategic role of the region in the gas dynamic. However, he insisted on the need to better articulate this growth with the needs of local populations.

The report highlights a persistent weakness in local content. Companies in the region carried out 7.2 billion FCFA in transactions with local suppliers, compared to 23.8 billion with foreign partners.

“We must strengthen local content in order to allow Saint-Louis businesses to capture more markets and create more jobs,” argued Thialy Faye.

The extractive sector currently only generates 207 jobs in the region, a level considered low given the expectations linked to the exploitation of hydrocarbons.

Social and environmental spending also remains limited, with 904 million FCFA committed to social actions and 523 million FCFA in environmental payments in 2024.

The authorities are now calling for better involvement of local communities in the management of the fallout, particularly fishing stakeholders, so that extractive wealth further benefits the territories concerned.