PM Browne says company stands as model public-private partnership.
Prime Minister Gaston Browne says the government has collected about $170 million in taxes and dividends from the West Indies Oil Company (WIOC), calling it the most successful example of public-private partnership in Antigua and Barbuda.
Speaking on his Browne and Browne radio programme on Saturday, Browne said WIOC’s performance underscores how strategic government involvement in key sectors can yield strong returns for the country.
“West Indies Oil Company is the most successful one,” Browne said. “I believe that they currently have a dividend check for us—about some point something million dollars. Not taxes, you know—that would have been for last year. And hopefully by next year, when we collect this year, probably about maybe eight or eight plus. So that is going extraordinarily well.”
He said the government’s investment in WIOC has already delivered significant returns, totaling around $170 million in revenue through taxes and dividends. “That’s good,” Browne said, noting that the model demonstrates how collaboration between the public and private sectors can drive long-term national benefit.
“This is what happens when the government partners with the private sector responsibly,” Browne added. “It’s about creating sustainable enterprises that work for the country, not just for a few shareholders.”
He added that similar partnerships will be pursued in finance and manufacturing to encourage wider economic participation and ensure that Antiguans and Barbudans continue to share in the nation’s growth.
