The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | The Uganda Extractive Industries Transparency Initiative (UGEITI) will release its fifth report on September 23 in Kampala, officials announced on Thursday.
The report is expected to provide updated information on Uganda’s oil, gas and mining sectors, including revenues, production, corporate participation and the contribution of extractive resources to the economy.
Speaking at a press conference at the Ministry of Finance headquarters in Kampala, UGEITI National Coordinator Saul Ongaria said transparency and accountability in the management of natural resources are critical to achieving the objectives of the Fourth National Development Plan (NDP IV) and Uganda’s wider economic transformation agenda.
“As a country, we are implementing NDP IV, and transparency and accountability in extractive resources are critical to achieving its goals,” Ongaria said.
He said the September 23 event will bring together government agencies, private-sector players and development partners to promote information sharing, transparency and accountability while strengthening investor confidence.
The report comes as Uganda prepares to begin oil production and seeks to increase the economic contribution of its mineral resources.
Clovice Bright Irumba, the Petroleum Authority of Uganda (PAU) Director for Exploration, said the report would provide an overview of Uganda’s oil sector and give stakeholders an opportunity to seek clarification on issues arising from the findings.
Arthur Bainomugisha, Executive Director of the Advocates Coalition for Development and Environment (ACODE), warned against the risk of elite capture in the extractive sector, saying citizens must remain central to decisions concerning the country’s natural resources.
“We are here to hold those in power accountable and ensure that the people benefit from these resources,” Bainomugisha said.
UGEITI said the report is intended to make information on resource production, government revenues, companies, local-content opportunities and environmental and social impacts more accessible to the public.
The initiative also wants extractive revenues to support Uganda’s Ten-Fold Growth Strategy, which targets an economy worth US$500 billion by 2040.
Uganda joined the Extractive Industries Transparency Initiative in 2020 as part of efforts to improve transparency, revenue collection and public accountability in the oil, gas and mining sectors.
Uganda’s extractive sector holds 6.5 billion barrels of proven petroleum resources, of which 1.4 billion barrels are commercially recoverable, while mining contributes about 1.8% of GDP. The sector accounted for 0.6% of government revenues in the latest EITI data, highlighting its growing importance as Uganda moves toward first oil and seeks greater value from its mineral resources.
