At State House Nakasero today, Yoweri Kaguta Museveni held high-level discussions with African business magnate Aliko Dangote on the proposed East African regional oil refinery, in a move that signals a new chapter for regional industrial transformation and economic independence.
President Museveni reaffirmed Uganda’s long-standing position against the export of raw materials without value addition, emphasizing that Uganda deliberately delayed oil production to prioritize the establishment of a refinery first.
According to the President, exporting crude oil without refining it would deny Africans the full economic and strategic benefits of their own natural resources while foreign economies continue profiting from finished petroleum products.
Museveni welcomed the proposal for a larger regional refinery, describing it as a practical step toward African integration, stronger regional markets, and shared prosperity among East African nations.
He stressed that Africa can no longer afford to operate as fragmented economies if it is to compete globally and create sustainable wealth for its people.
Uganda, he noted, remains committed to supporting the regional refinery initiative while simultaneously advancing the development of its own refinery project in Hoima — a move expected to create jobs, boost industrialization, strengthen energy security, and increase the value of Africa’s resources from within the continent itself.