Museveni gives assurance on oil money

By Benjamin Jumbe.

President Yoweri Museveni has assured all local and international Organisations Uganda owes huge sums of money that they will be cleared as soon as trading of the country’s oil kicks off.

The president gave the assurance during the 5th Oil and Gas summit held in Kampala last evening

He said in the first phase, revenue totaling to 80 Billion US $ is expected to be generated part of which will be used to pay off the debts in addition to infrastructure development

Museveni also challenged the oil companies to take advantage of the big market in Africa to invest.

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