Yoweri K Museveni@KagutaMuseveni
Today at Nakasero, I met Mr. Aliko Dangote and we discussed the proposed East African regional refinery.
I informed him that from the very beginning, we have always opposed the export of raw materials without value addition. That is why Uganda delayed oil production because we insisted on first having a refinery. Without refining our oil, it would not make economic or strategic sense to simply export crude oil while others benefit from the finished products.
I, therefore, welcomed the idea of a bigger regional refinery because our objective is African integration and shared prosperity. We cannot continue operating as fragmented and weak markets. If East Africa works together, such projects become more viable and beneficial to our people.
Uganda is ready to support the regional refinery initiative while also continuing with the development of our own refinery in Hoima.
