R5.2 Billion Oil Reserve Project in Limbo Amid Corruption Allegations and Parliament Resistance
Eswatini’s controversial R5.2 billion Strategic Oil Reserve project, signed with a Taiwan-based company, has hit a major hurdle after the Minister of Natural Resources and Energy, Prince Lonkhokhela, announced that the deal will not be implemented without Parliament’s approval.
The statement by the Minister comes amid growing public outcry and mounting pressure from Members of Parliament (MPs), following a series of investigative articles published by Swaziland News. The reports exposed how the Eswatini National Petroleum Company (ENPC), under the directive of the government, signed the lucrative contract without following a fair, open, and competitive tendering process.
Shockingly, a company that had submitted a significantly lower bid of R2.2 billion to construct the same oil reserve was sidelined without explanation. Instead, the government opted to hand the contract to a Taiwanese firm, sparking allegations of corruption and abuse of power.
Despite the formal signing of the agreement, Prince Lonkhokhela, while addressing MPs earlier this week, sought to reassure Parliament that implementation of the project will not proceed without its explicit green light. This move, however, raises more questions than answers—especially given that King Mswati has already endorsed the project and ordered its implementation.
Taiwan, known for its close ties with the monarch, seems to have leveraged this relationship to bypass established procurement protocols. This kind of interference from the throne once again highlights the deep structural issues in Eswatini’s governance. When a single individual can override due process and direct state resources toward questionable deals, the country’s democracy, economy, and sovereignty are placed at risk.
The MPs who have vowed to block the project in Parliament have cited serious concerns about corruption and the irregular awarding of the contract. Their stance represents a rare but growing defiance within the legislature—a body that has historically operated under the shadow of royal influence. Whether this Parliament will have the political will or constitutional power to stop a project backed by King Mswati remains uncertain.
This oil reserve scandal is not just about financial mismanagement; it’s a window into how governance under absolute monarchy works in Eswatini. A nation already grappling with poverty, unemployment, and a fuel crisis cannot afford to squander billions on a deal riddled with controversy. The people deserve better: transparency, accountability, and a government that puts national interests before royal alliances.
As we await Parliament’s decision, the people of Eswatini must stay vigilant. This moment is a test of whether the legislative arm can stand for what is right or whether it will, once again, be swallowed by the monarch’s iron grip. Either way, the exposure of this deal has struck a nerve—and the truth can no longer be hidden behind palace walls.
