Is Oil Exploration More of a Curse Than Blessing?

May 26, 2019 | Abdifatah Hassan Ali
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On 20th May 2019, Somalia's Lower House passed a petroleum bill ahead of government's plan to issue oil exploration license by the end of this year. According to the plan, the winners of the bid will be announced on 7th November and the official agreement will be signed on December. The agreement will go into effect on 1stJanuary 2020. The bill was passed after getting vote of favor from 150 parliamentarians out of the 275 Lower House members, only 4 of them abstained. The rest were not in attendance.