Revenues from the oil resource must be monitored at all costs.
The Speaker of Parliament, Rebecca Kadaga has warned that unless laws governing the oil revenues are strengthened, the resource could heighten corruption and conflict.
Speaking at a three-day meeting of the International Organization of Supreme Audit Institutions at Serena Hotel today, Kadaga noted that competition for control over such natural resources has led to armed conflict.
She says revenues from oil should spur economic growth, as well as ensure good governance and transparency in the extractive industry.
The Auditor General, John Muwanga, who doubles as the organization’s chairman, says the extractive resources should benefit the population.