The moves follow promises from Sonko’s 2024 government to audit and renegotiate Senegal’s resource deals, a push aimed at rebuilding Senegal’s finances, delivering cheaper gas to industries and households, and improving overall economic transparency.
“The contracts that have been signed are unfair contracts, which we intend to discuss in detail,” Sonko said in a televised statement.
Senegal is grappling with debt levels that reached 132% of GDP at the end of 2024, according to the International Monetary Fund, which froze its lending program after misreported debt was uncovered during a government audit.
Recall in an earlier publication, Business Insider Africa reported that the Senegalese administration has also announced plans to close 19 government agencies to reduce costs, while financial tensions have sparked nationwide strikes among teachers and unrest at universities over unpaid student aid.
Africa’s resurging resource nationalism
Senegal’s crackdown reflects a broader trend of resource nationalism across Africa, as governments increasingly scrutinize foreign contracts to ensure domestic benefit.
Analysts say these moves are driven by rising domestic demands for fiscal stability, growing awareness of Africa’s mineral wealth, and competition between global firms for access to critical commodities.
Meanwhile, the government cited overcharging on infrastructure projects by an average of 15%, further highlighting the financial pressures motivating the reforms.
Sonko has emphasized that the review will continue throughout his term, promising sweeping changes across the energy, mining, and infrastructure sectors.
While BP has not commented, the signal to foreign investors is clear: Senegal is asserting its authority over contracts and resources, a move that underscores the continent-wide race for fairer resource deals and greater economic sovereignty.
