World Bank: How Can Uganda’s Private Sector Yield Maximum Benefits from Oil and Gas?

The discovery of 6.5 billion barrels of oil reserves in the Albertine region of Uganda present an opportunity for the country to generate government revenues for domestic investment and catalyze domestic private sector development. However, the oil reserves represent a temporary boon, as revenues from oil reserves will be finite. But their impact on Ugandan economy and society, if deployed strategically, could be far more long-term, according to a new World Bank report.

The study, Leveraging Oil and Gas Industry for the Development of a Competitive Private Sector in Uganda, recommends that the oil and gas sector be leveraged for domestic private sector development by developing local suppliers and related industries.

Read the full article HERE.