By L J Kingah
Yaounde – Cameroon is making a double move to revive its extractive sector – launching six new oil exploration blocks while lobbying international watchdogs to lift a suspension that has stained its transparency record since 2024.
On Monday, the National Hydrocarbons Corporation (SNH) announced at the African Energy Week in Cape Town the opening of its 2026 Bid Round, offering six exploration blocks across three sedimentary basins to international investors.
The announcement came just days after Cameroon’s Minister of Mines, Industry and Technological Development, Prof. Fuh Calistus Gentry, met with the Chair of the Extractive Industries Transparency Initiative (EITI) Board, Maria van der Hoeven, on the sidelines of the 10th EITI Global Conference in Brussels on October 10.
Cameroon was suspended from EITI in 2024 following a low compliance score, linked to restrictions on civil society participation and unresolved corruption concerns involving local oil officials.
In Brussels, Gentry said Cameroon is committed to corrective measures, including ensuring free participation of civil society under Requirement 1.3, appointing a Deputy National Coordinator for EITI, and working with SNH to publish petroleum contracts and financial data.
The timing is critical. With declining hydrocarbon production and IMF warning of weakened 2026 prospects, Yaounde needs fresh investment. But analysts say investors may hesitate to commit to new blocks while transparency concerns persist.
Political ownership is essential if technical recommendations are to lead to action, said officials at recent ECA meetings in Yaounde, echoing calls for stronger governance.
For communities in the Anglophone regions and Far North, where over 1.2 million still need humanitarian assistance and ghost workers drain public funds, the question remains whether new oil wealth will translate into public services or repeat past governance gaps.
If Cameroon secures an early validation and lifting of the suspension, the 2026 blocks could mark a turning point. If not, it risks offering acreage without the credibility investors demand.