President Yoweri Kaguta Museveni today met with renowned African industrialist Aliko Dangote at Nakasero, where the two leaders discussed the proposed East African regional oil refinery project.
During the meeting, President Museveni emphasized Uganda’s longstanding position on value addition, noting that the country has consistently opposed the export of raw materials without local processing. He explained that Uganda deliberately delayed the commencement of oil production in order to prioritize the establishment of a refinery, ensuring that the nation derives greater economic and strategic benefits from its petroleum resources.
The President stressed that exporting crude oil without refining it would deny the country and the region the full value of their natural resources, while allowing others to reap the benefits of producing and marketing finished petroleum products.
President Museveni welcomed the proposal for a larger regional refinery, describing it as a significant step toward deeper African integration and shared economic prosperity. He noted that East African countries stand to gain more by working together on transformative projects rather than operating as fragmented markets.
He further highlighted that regional cooperation strengthens the viability of major industrial investments and creates broader opportunities for economic growth, job creation, and energy security across the region.
Uganda remains committed to supporting the East African regional refinery initiative while simultaneously advancing the development of its own refinery project in Hoima, which is expected to play a key role in the country's industrialization agenda and long-term economic transformation.