In an exclusive statement to our source on Wednesday, economic researcher and analyst Ahmed Maharem expressed concerns about Libya’s uncertain future due to the dominance of armed groups over oil resources. He highlighted how these groups use revenues from smuggled oil to purchase weapons and fuel instability, which in turn discourages foreign investments.
Maharem also revealed that Libya’s Attorney General is expected to request a fuel budget allocation in March to meet the demands of power stations and ease congestion at fuel distribution stations.
He further emphasized that the UN report pointed to corruption within the General Electricity Company, where revenues have allegedly been misused to fund militant groups. He warned that rampant corruption within state institutions poses a significant threat to Libya’s future.
