Connect with us

Business

President Museveni Announces Plan To Cut Middlemen Costs in Uganda’s Petroleum Imports

Avatar photo

Published

on

UNOC

By Hason Mutunzi Bwambale

In a recent address to the nation, President Yoweri K. Museveni revealed a major concern regarding the importation of petroleum products in Uganda. President Museveni expressed his disappointment in the middlemen who have been profiting from the country’s oil imports, leading to significant financial losses. He emphasized the need for an alternative procurement process, ensuring that Ugandans receive competitive prices and eliminating unnecessary intermediaries.

Initially unaware of the situation, President Museveni acknowledged the failure of his administration in not addressing this issue sooner. However, he assured the Ugandan people that measures were currently being taken to rectify the situation. To this end, the president has engaged with both Kenyan President, H.E Ruto, and Tanzanian President, H.E Samia Suluhu, to discuss more favorable agreements for procuring petroleum products.

The president also expressed his frustration with internal parties who have attempted to hinder the government’s efforts by launching a campaign against their plan to combat overcharging. These detractors have utilized social media as well as mainstream media outlets, including what President Museveni referred to as the “pro-parasite” Monitor newspaper. Nevertheless, President Museveni affirmed his commitment to resolving the issue and proclaimed readiness to confront those who seek to sabotage the government’s efforts.

President Museveni further noted that these changes would not only benefit Uganda but also surrounding regions. With the implementation of new procurement arrangements and the future establishment of a refinery in the country, there is anticipation for competitive petroleum prices across Inland East Africa. This development is expected to positively impact not only Uganda but also Northwestern Tanzania, Rwanda, Burundi, Western Kenya, South Sudan, and the eastern Democratic Republic of Congo.

As citizens eagerly await the resolution of these issues and keep a close eye on the engagements with Kenya and Tanzania, there is hope that this move will alleviate the burden of high petroleum costs and create a more efficient and cost-effective system for the benefit of the Ugandan people.

President Museveni expressed optimism that in a few years, Uganda’s own refinery will be operational, further safeguarding the nation’s energy needs and ensuring greater independence in the petroleum sector.

President Museveni urges the public to disregard misinformation spread through social and mainstream media channels, emphasizing their commitment to addressing the problem of overcharging in the petroleum industry and creating a more equitable system for the people of Uganda.

Continue Reading

Copyright © 2023 The New Light Paper, Uganda. A Subsidiary of KOOM Media Group Ltd.