President Yoweri Museveni has revealed details of a high-level meeting with Nigerian billionaire industrialist Aliko Dangote held today at Nakasero, where the two discussed plans for a proposed East African regional oil refinery.
Museveni said the discussions centered on the importance of value addition within Africa’s oil sector and the need for regional cooperation to strengthen economic growth and industrialization.
According to the President, Uganda has consistently opposed the export of raw materials without processing, a position that influenced the country’s decision to delay commercial oil production until plans for a local refinery were secured.
He explained that exporting crude oil without refining it would deny Uganda and the region the broader economic and strategic benefits that come with producing finished petroleum products locally.
Museveni welcomed the proposal for a larger regional refinery, describing it as a significant step toward African integration and shared prosperity. He argued that East African countries cannot continue operating as fragmented markets if they are to compete effectively on the global stage.
The President noted that regional cooperation would make large infrastructure projects such as oil refineries more economically viable while also creating employment opportunities, improving energy security, and boosting industrial development across the region.
He further reaffirmed Uganda’s commitment to supporting the regional refinery initiative while simultaneously continuing with the development of its own oil refinery project in Hoima.
The meeting comes at a time when East African countries are increasingly exploring joint infrastructure and energy projects aimed at accelerating regional trade and reducing dependence on imported petroleum products.
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