Mogadishu, Somalia – On Monday, Somalia’s Minister of Petroleum and Mineral Resources, Dahir Shire, met with members of the Financial Governance Committee (FGC) in a session aimed at reinforcing accountability and fiscal discipline across the country’s extractive industries.
The meeting, held at the minister’s office, centered on advancing transparency and governance standards in the management of Somalia’s petroleum and mineral resources—two sectors seen as critical to the nation’s long-term economic recovery.
Discussions focused on strengthening institutional mechanisms that ensure revenues from natural resources are managed responsibly and in line with international best practices. Participants examined ways to improve oversight of contracts, streamline reporting processes, and enhance collaboration between the ministry and oversight bodies to promote public trust in the sector.
The dialogue comes at a crucial time as Somalia continues to attract growing interest from investors in oil and mineral exploration. By deepening transparency and fiscal governance, the government aims to safeguard national wealth and ensure that resource development contributes directly to public benefit.
Shire reaffirmed the ministry’s commitment to responsible resource management and to working closely with the Financial Governance Committee and other stakeholders to uphold integrity and accountability in all operations.
The engagement underscores Somalia’s broader reform agenda, which seeks to align the extractive sector with the principles of good governance and sustainable development.