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Museveni Reveals Areas Where Oil Revenues Will Be Invested As He Pledges Economic Growth And Poverty Eradication

Museveni and his wife during the address

President Yoweri Kaguta Museveni on Sunday formally received the declaration of his re-election as President of Uganda, pledging to prioritize poverty eradication, unity, and disciplined governance in the new term.

President Museveni, who won the recently concluded Presidential elections with more than 7 million votes according to provisional Electoral Commission figures, was officially presented with the declaration form by the National Resistance Movement (NRM) Central Executive Committee (CEC) at his country home in Rwakitura.

In his acceptance remarks, the President began by thanking God and the First Lady, Janet Museveni, for her steadfast support.

He credited the win to collective effort, praising NRM members, party leaders, and institutions that he said played a critical role.

The President also acknowledged the contribution of national institutions and community leaders, including the armed forces, religious leaders, and cultural leaders.

“I thank the armed forces for their role, the religious leaders for praying for us, and the cultural leaders for being responsive and working for peace,” President Museveni said.

Reflecting on voter turnout, President Museveni said a significant number of NRM supporters did not vote, a matter he said the party must study going forward.

“About 10 million of our people did not turn up. Many of them are our members, and we must find out why.”

He linked this re-election to what he described as a return to the founding principles of the NRM, emphasizing unity and stability, particularly in regions that had previously experienced conflict.

“That atmosphere of maximum unity is coming back,” he said, citing peace in parts of northern and eastern Uganda.

President Museveni highlighted government programs such as the Parish Development Model (PDM) and presidential skilling hubs, saying they have begun to restore hope among Ugandans.

“PDM has given people hope that we can get rid of poverty,” he said, adding that skilling hubs are equipping young people with practical abilities.

However, he acknowledged uneven implementation and said the government must critically assess what is working and what is not.

“We must analyze and find out,” he said.

On security, the President warned against what he described as isolated acts of violence linked to political extremism, while stressing that peace in Uganda is maintained not only by security forces but by citizens themselves.

“It is not just the security forces who are maintaining peace,” President Museveni said. “It is all Ugandans, including members of the opposition.”

He cautioned groups he accused of working with foreign interests to abandon violence.

“This is a free warning from me,” he said. “Stop what you are doing. We shall maintain peace in Uganda.”

Looking ahead to the new term, President Museveni outlined two broad economic priorities: supporting wealth creators to grow the economy and intensifying efforts to eliminate household poverty.

“For about 70 percent of the people in the money economy, we must support them to continue growing,” he said. “For the remaining 30 percent, this is where we must decisively address poverty.”

He said PDM funds are central to that effort, insisting that poverty must be eliminated at the household level.

“We must end poverty in the homesteads,” he said.

The President also emphasized the importance of free education in government schools, improved healthcare delivery, and strict action against corruption.

“Corruption annoys our people,” President Museveni said, calling on elected leaders to closely monitor government programs, including drug availability in hospitals, justice delivery, land protection, road maintenance, and water access.

“I will be very harsh in this Kisanja,” he warned.

On job creation, President Museveni said the focus would remain on agriculture, manufacturing, and the private sector, rather than public service employment.

He confirmed that Uganda’s oil production is expected to begin this year and said revenues would be invested in long-term national assets.

“Our oil will start flowing this year,” he said. “This money must be used for things that will last, like railways, power stations, roads, and science education.”

President Museveni cautioned against proposals to directly distribute oil revenues to local governments, arguing that oil is a finite resource.

“This oil will last about 20 years,” he said. “If you care about your country, you must use this exhaustible resource to build things that will endure.”

He concluded by urging unity and discipline as Uganda looks toward the next electoral cycle.

Taddewo William Senyonyi
https://www.facebook.com/senyonyi.taddewo
William is a seasoned business and finance journalist. He is also an agripreneur and a coffee enthusiast.

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