Malema maintains that oil and gas discoveries should be nationalised

- | a week ago

Julius Malema is adamant that the state should nationalise oil and gas discoveries, including the recent find by Total. The Economic Freedom Fighters maintained at the State of the Nation Address debate that the country should be benefiting from their resources, not foreign entities.

The state should nationalise oil and gas discoveries, such as the recent deep-water oil and gas find off of the coast of Mossel Bay by French company Total, said Julius Malema.Addressing Parliament during the State of the Nation Address debate, the Economic Freedom Fighter leader commented on the discovery, dubbed by the president as a 'game changer'.za reported earlier that President Cyril Ramaphosa had been encourage by the report of the 'catalytic find':"This could well be a game-changer for our country and will have significant consequences for our country’s energy security and the development of this industry," READ ALSO: Ramaphosa says the discovery of gas on SA coast is a game-changerYesterday saw Malema claiming that the president had neglected to divulge that 90% of the oil and gas discovery would benefit foreign companies:"If you (Ramaphosa) continue with indecisiveness of natural resources, the oil and gas will be a curse to our nation like it is in other African countries"The EFF leader demanded that the nations asset should remain just that, explaining:"We demand all oil and gas discoveries must be nationalised. Oil and gas must be declared a national asset.

"Dr Nkosazana Dlamini Zuma had also commented on the find and had proposed that the profits should be channeled into a sovereign fund for both current and future generations to benefit from South Africa's 'finite resources':"We must ensure the wealth the nation holds benefits all and not just a few,".

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