OTJIWARONGO: Minister of Finance, Iipumbu Shiimi on Wednesday announced an increase in the budget of the Ministry of Mines and Energy of more than 50 per cent for the 2024/25 financial year.

He made this announcement during the tabling of the 2024/2025 National Budget in the National Assembly.

The N.dollars 381.9 million allocation in total is meant to improve the capacity at the ministry, especially in the Petroleum Affairs Directorate in light of the upsurge in exploration activities in the Orange Basin.

Furthermore, the development budget of the same ministry was also doubled with N.dollars 131 million, which is aimed at fast-tracking rural electrification and improve access to electricity countrywide, Shiimi stated.

Source: The Namibia Press Agency