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Home Big Story

Museveni Hails Uganda’s Economic Transformation, Eyes Oil-Led Growth

Davis by Davis
in Big Story, Business, Business, Markets, News
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Museveni Hails Uganda’s Economic Transformation, Eyes Oil-Led Growth
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President Yoweri Museveni has hailed Uganda’s remarkable political and economic progress over the past four decades, pointing to a $60 billion economy, 7% growth rate, expanded local production, and the imminent start of oil production as key milestones.

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Speaking at Kololo Independence Grounds during National Liberation Day celebrations themed “A Tribute to the Patriots Who Ushered in the Fundamental Change,” the President outlined five pivotal economic stages that have shaped the nation’s journey: initial recovery and expansion, diversification, value addition, and the transition toward a knowledge-based economy.

Museveni noted that local industries now satisfy 65% of domestic demand for goods, driven by strong growth in agriculture, manufacturing, services, and information and communications technology (ICT).

With Uganda’s oil projects entering production phase, he forecasted double-digit economic growth in the current year.

He stressed the urgency of bringing the remaining 30% of the population into the formal money economy.

The President reiterated the government’s dedication to key social programs, including universal free education, free healthcare services, a nationwide road maintenance initiative, and broader efforts to generate wealth and employment opportunities.

He issued a firm warning against corruption—particularly misuse of funds under the Parish Development Model (PDM)—declaring zero tolerance and directing immediate reforms to guarantee that resources reach the intended recipients.

As part of the commemorations, 33 distinguished individuals were recognized for their service to national development.

Among the honorees were Justice Emeritus Ralph Ochan, Mr. Barot Harshad Maganbai, Ms. Teddy Naluwu, Dr. Steven Watiti, Ms. Violet Kekitanda, Lt. Gen. (Rtd) Francis Okello, Brig. Gen. Kefa Nangeso, Col. Moses Ikuret, Hajji Bogere Abdu, and ASP Masaba Moses.

The awardees received various honors, including the Crested Crane–Grand Commander, National Independence Diamond Jubilee Medal, Nalubale Medal, Masaba Star, and Meritorious Service Award.

In his address, Museveni cautioned undisciplined members of the ruling National Resistance Movement (NRM) and opposition figures exhibiting “terroristic tendencies” against any actions that could jeopardize the country’s gains.

He underscored that continued unity, adherence to the law, and collective vigilance remain vital to preserving and building on Uganda’s achievements.

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