Somalia: Revenue-sharing agreement

The federal government of Somalia signed a preliminary agreement with the federal member states on 21 October on the sharing of revenue from petroleum and mineral resources. Petroleum and mineral resources minister Mohamed Muktar Ibrahim told the Africa Upstream conference in Cape Town that the government aimed to establish a common vision on ownership, control, and how the state’s share of revenue could be distributed among all Somalis, federally, regionally and locally. In the absence of a central policy, federal states such as Somaliland and Puntland have conducted their own licensing.