Following the new oil and gas discovery by Total, The leader of the Economic Freedom Fighter Julius Malema has issued a statement for the state to nationalise oil and gas discoveries, including the recent find by Total.
Malema maintained at the State of the Nation Address debate that the country should be benefiting from their resources, not foreign entities.
The state should nationalise oil and gas discoveries, such as the recent deep-water oil and gas find off of the coast of Mossel Bay by French company Total, said Julius Malema.
[WATCH]: CIC @Julius_S_Malema told President Ramaphosa that we demand that all oil and gas be nationalised and form part of the Sovereign Wealth Fund. The oil and gas must be declared national assets. #SONADebate pic.twitter.com/318rqIY9TL
— Economic Freedom Fighters (@EFFSouthAfrica) February 12, 2019
Addressing Parliament during the State of the Nation Address debate, the Economic Freedom Fighter leader commented on the discovery, dubbed by the president as a ‘game changer’.
Malema claimed that the president had neglected to divulge that 90% of the oil and gas discovery would benefit foreign companies:
“If you (Ramaphosa) continue with indecisiveness of natural resources, the oil and gas will be a curse to our nation like it is in other African countries”
The EFF leader demanded that the nations asset should remain just that, explaining:
“We demand all oil and gas discoveries must be nationalised. Oil and gas must be declared a national asset.”