President Yoweri Museveni has assured Ugandans that the country’s oil resources will be used to build lasting wealth for current and future generations. Speaking at a campaign rally in Buliisa Town, Museveni emphasized that Uganda’s oil, while finite, presents an opportunity to create durable economic benefits.

“Petroleum is exhaustible. We have about 6.5 billion barrels that can be mined over roughly 25 years, but our goal is to use it to create wealth that lasts,” Museveni said. He highlighted that Uganda is exploring additional oil reserves beyond the main Albertine Graben, including the Moroto-Kadam and Kyoga basins.

Uganda’s oil production plans include the Tilenga Project, led by French energy firm TotalEnergies, expected to produce up to 190,000 barrels per day, and the Kingfisher Project, operated by China’s CNOOC, projected to add 40,000 barrels per day. Together, these projects aim to reach a national production peak of 200,000–250,000 barrels per day during the first phase.

Museveni stressed the importance of responsible management of oil revenues, citing Norway and Saudi Arabia as examples of countries that have turned oil wealth into sovereign wealth funds to generate long-term financial returns. He rejected suggestions that the funds should be spent on short-term consumption, such as imported luxury items.

The President also highlighted ongoing development projects in Buliisa, including improved roads, schools, and health facilities, while urging residents to focus on personal and household wealth creation. He encouraged local communities to explore opportunities such as fish farming, describing it as an underutilized economic resource.

Museveni concluded by reaffirming that oil revenues will benefit all Ugandans, not just a few, and stressed that careful planning is central to transforming the country’s oil wealth into generational prosperity.