Officials warn of rising global fuel costs impacting domestic markets, call for urgent measures to stabilize prices.
Hargeisa, Somaliland (Horn post) Somaliland’s Ministry of Trade and Tourism convened its weekly high-level meeting on Saturday, with senior officials warning of mounting pressure on domestic markets due to rising global fuel prices linked to ongoing tensions in the Middle East.
The meeting, chaired by Minister Abdirahman Hassan Nur and attended by Director General Mahmoud Hussein Adan, brought together department heads to assess the country’s commercial outlook and review the ministry’s operational performance.
A key focus of the discussions was the sharp fluctuation in global fuel prices, which officials said is beginning to translate into higher costs for essential goods within Somaliland. As a fuel-import-dependent economy, Somaliland remains particularly vulnerable to external shocks affecting supply chains and pricing.
Participants examined detailed reports on international fuel markets, highlighting trends driven by geopolitical instability in key oil-producing regions. Officials warned that without timely intervention, the rising costs could further strain household spending and disrupt business activity.
To address these concerns, the ministry outlined a series of measures aimed at stabilizing fuel prices and maintaining market equilibrium. These include closer monitoring of supply chains, strengthening regulatory oversight, and enhancing coordination with private sector stakeholders involved in fuel importation and distribution.
In addition to market conditions, the meeting reviewed the ministry’s broader performance, including ongoing projects, recent achievements, and institutional challenges. The Director General presented an overview of progress made in key areas and detailed upcoming priorities designed to support economic resilience.
Minister Nur, in his closing remarks, called on all departments to accelerate priority initiatives, reinforce transparency and accountability, and improve internal coordination. He stressed that proactive and unified efforts are essential to safeguarding market stability and protecting consumers from external economic shocks.
The meeting reflects Somaliland’s continued efforts to navigate global economic uncertainty while strengthening domestic trade systems and ensuring sustainable economic management.
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