WHAT IS IMPORTANT FOR UGANDA NOW IS THE TRANSPARENCY WHICH LOOKS A BIG AND IS A REAL PROBLEM

Oil becoming diversionary - Museveni

By Francis Mugerwa 

Posted  Wednesday, September 21  2011 at  00:00

Hoima

President Museveni says increased household incomes, improved agriculture and industrialisation are key factors of Uganda’s transformation. He said there is now a tendency for many Ugandans to focus on oil than agriculture.

“There is a lot of diversion about oil. This oil we discovered yesterday. Suppose we had not discovered it, would we not modernise Uganda?” Museveni wondered. He made the remarks while presiding over the commissioning of the pediatric ward at Azur Christian Health Centre and a science laboratory block at Canon Njagali High School in Hoima town on Tuesday.

The President said agriculture and industrialisation can greatly improve productivity and transform Uganda’s economy. He said he sometimes forgets that Uganda has oil reserves. “I sometimes forget about oil.

I need to be reminded about it. I think a lot about agriculture and industries,” Mr Museveni said. His remarks come at a time when the 9th Parliament has put emphasis on the need to make public oil agreements and related deals.

Oil explorers discovered commercially viable oil deposits in the Albertine grabben, estimated to be well over 2.5 billion barrels of oil, and commercial production is anticipated to commence in 2015 according to some energy experts.