Mar 24, 2025
On March 24, 2025, Honourable Bogolo Joy Kenewendo, Minister of Minerals and Energy, presented the Ministry's budget proposal for the 2025/2026 fiscal year. She reported on the funds allocated for the 2024/25 Recurrent and Development budgets and highlighted the progress made regarding key policy and legislative issues in the energy and minerals sectors.
The Minister noted that about 65% of the country's electricity demand is met through local generation, with the rest imported from neighboring countries like South Africa. To prevent power crises, the Ministry is exploring new baseload generation options, including the construction of a 600 MW coal-fired power plant in Mmamabula, expected to be completed by 2027.
The Minister requested an approval for the Ministry’s budget estimate of fiscal year 2025/2026, amounting to P347,147,890 from the Consolidated Fund under the Recurrent Budget, and P2,659,182,923 from the Development Fund.
