The government of South Sudan is aware that oil is not an everlasting resource and agriculture should be the main source of income for its economy.
GoSS spokesperson Barnaba Marial Benjamin made these comments in response to an International Monetary Fund report indicating that in less than ten years South Sudan’s oil production will be reduced to half.Dr. Marial told SCR News that South Sudan has not yet tapped all its oil resources but agriculture and livestock are the backbone of the economy.
He said the government will use the current oil revenue to develop agriculture.
Dr. Marial said South Sudan has other mineral resources including gold, copper and uranium still to be developed.
He added that the government is working on a mining bill to regulate the sector.
The government currently depends almost entirely on oil revenue to run the country and produces over 300 thousand barrels of crude per day.
The IMF report says the crude output reached its pick in 2009.