Seedy Keita, Minister of Finance
By Buba Gagigo
The Minister of Finance and Economic Affairs, Seedy Keita, has confirmed that the government has allocated $20 million (equivalent to D1.4 billion) to the National Water and Electricity Company (NAWEC) to settle outstanding arrears.
This confirmation follows recent revelations by the Minister of Petroleum and Energy, Hon. Nani Juwara, who informed lawmakers that NAWEC owes Senegal’s electricity provider, Senelec, $16.1 million, along with an additional $8.4 million debt to Karpower.
“Every Gambian knows the legacy issues (with NAWEC) and even part of our expenditure pressures In 2024 budget implementation, and I will repeat this, the government of the Gambia has allocated $20 Million equivalent to D1.4 billion, to help pay the arrears of NAWEC. And why did we do that? To protect the population from tariff hikes,” the minister said.
He further elaborated: “If the government had not come in to pay that $20 million (D1.4 billion), and this happened because we had to repurpose the budget. It’s an emergency. What economic management will you be talking about if there’s no water, If there’s no light? So that’s why, when these emergencies come, that’s where you rise to the occasion, and the government did that consciously.”
Minister Keita also assured the public that measures are underway to address NAWEC’s longstanding challenges, including the development of an energy roadmap.”But all is not lost. A lot of work is in progress. There’s an energy roadmap that by 2025-2027 Once implemented, we believe (most problems will be solved) because the cost pressure is what is affecting NAWEC.” he stated.
The Finance Minister made these remarks during The Brunch, a Kerr Fatou weekly program.