Last week, the minister of finance and planning Agak Achuil who was appointed late last year said he came to the ministry only to learn that previous ministers have mortgaged the country’s oil until 2027.
“Where am I going to get the money? If the oil has been sold in advance up to 2027 that means I will go to 2028 to ask somebody to give me money such that by 2028 he will be given that oil,” the minister said.
“And by the time I am gone somebody will come in my place and he will find out that all oil of 2028 has been sold so he will have to go for 2029,” he added.
Acuil said he has to solicit for loans to pay the arrears and “If I want to pay I will have to borrow and when I borrow that means your oil is being sold in advance. So this is where your oil money is going, nobody is eating it.”
The statement angered South Sudanese social media activist warranting a comment from the minister of humanitarian affairs and disaster management Peter Mayen Majongdit who said that oil can be disastrous in lieu of other alternatives.
“There’re so many other revenues in the country in fact Oil itself can be a disaster if the country’s Economy is not diversified,” Mayen said, before adding “The future is still bright.”