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<\/p>\nYoweri Kaguta Museveni has held discussions with Nigerian billionaire industrialist Aliko Dangote on plans for a proposed East African regional oil refinery, in a move aimed at strengthening regional energy integration and value addition.<\/p>\n
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The meeting took place at Nakasero, where Museveni reiterated Uganda\u2019s long-standing position against the export of raw materials without local processing and industrialization.<\/p>\n
According to the President, Uganda deliberately delayed commercial oil production to prioritize the establishment of a refinery, arguing that exporting crude oil without refining it would deny the country and the region the full economic and strategic benefits of its petroleum resources.<\/p>\n
\u201cWithout refining our oil, it would not make economic or strategic sense to simply export crude oil while others benefit from the finished products,\u201d Museveni said.<\/p>\n
The President welcomed the proposal for a larger regional refinery, saying it aligns with Uganda\u2019s broader vision of African integration, regional cooperation, and shared prosperity.<\/p>\n
Museveni stressed that fragmented African markets weaken the continent\u2019s bargaining power and industrial potential, arguing that joint regional projects would create stronger economies of scale and greater benefits for East Africans.<\/p>\n
\u201cWe cannot continue operating as fragmented and weak markets. If East Africa works together, such projects become more viable and beneficial to our people,\u201d he noted.<\/p>\n
Uganda is currently developing its own oil refinery project in Hoima as part of preparations for commercial oil production expected to transform the country\u2019s energy sector and wider economy.<\/p>\n
The discussions with Dangote come at a time when Africa is increasingly pushing for local industrialization, energy security, and reduced dependence on imported petroleum products.<\/p>\n
Dangote recently expanded his influence in the global energy market through the massive Dangote Refinery in Nigeria, which has rapidly emerged as one of Africa\u2019s largest refining facilities and a major exporter of petroleum products, including jet fuel to Europe.<\/p>\n
Analysts say a regional refinery initiative involving East African countries could significantly reduce fuel import costs, improve regional energy security, create jobs, and strengthen intra-African trade under the African Continental Free Trade Area framework.<\/p>\n","protected":false},"excerpt":{"rendered":"
Yoweri Kaguta Museveni has held discussions with Nigerian billionaire industrialist Aliko Dangote on plans for a proposed East African regional oil refinery, in a move aimed at strengthening regional energy integration and value addition. The meeting took place at Nakasero, where Museveni reiterated Uganda\u2019s long-standing position against the export of raw materials without local processing […]<\/p>\n","protected":false},"author":4,"featured_media":9013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[409],"tags":[949,656],"class_list":{"0":"post-9011","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national","8":"tag-aliko-dangote","9":"tag-president-yoweri-kaguta-museveni"},"yoast_head":"\n