Somali President Opens 7th Parliamentary Session, Announces First Oil Production and Economic Reforms

The President of the Federal Republic of Somalia, Hassan Sheikh Mohamud, today opened the 7th session of the bicameral parliament, delivering a speech outlining the government’s achievements and priorities.

The President announced that the Federal Government will begin full-scale development of the country’s natural oil resources, confirmed to be among the world’s largest reserves. He revealed that in the coming months, Somalia will commence production from its first oil well — a milestone he described as transformative for economic growth, job creation, and national self-sufficiency.

Turning to security, President Hassan Sheikh stated that financial networks feeding Al-Shabaab have been shut down and highlighted key territorial gains in areas such as Toora-tooray and Arbacow in Lower Shabelle region.

He further emphasized that Somalia has avoided taking on harmful foreign debt and instead urged citizens to strengthen the nation by paying taxes, which he said are vital for sustainable development.

Concluding his address, the President stressed that Somalia has moved beyond the era of being dictated to: “Today, we are part of the global decision-making table,” he declared.