The discovery of oil and gas provides the country with an opportunity to fast‐track the
economic and social transformation process. However, oil and gas resources are finite and
the associated revenues can be immense. If not well managed, these revenues have the
potential to undermine the macroeconomic, budgetary and governance structures that
have been built over the last two decades leading to waste. In order to sustain the
economic and social transformation process beyond the oil and gas era, we will have to
manage the oil and gas revenues in manner that will encourage other sources of wealth
creation.
The 2008 National Oil and Gas Policy required that an appropriate framework be put in
place to aid the sustainable management of oil and gas revenues. This policy provides
details on how the anticipated revenues shall be managed and integrated into the existing
Government systems with a view of mitigating the overall impact of these revenues on the
economy. The policy requires the highest standards of transparency and accountability in
the management of oil and gas revenues and gives the institutional and governance
structures to be used to achieve this. Lastly, to promote harmony and social cohesion, the
policy provides for a mechanism for the sharing of royalty revenues with the local
governments within the oil producing region.
I would like to acknowledge the Government of the Kingdom of Norway for the technical
and logistical support to the Government of Uganda towards the formulation of this policy.
We are grateful to all the other development partners, institutions and individuals for their
ideas and contributions during the consultation process which culminated into formulating
the policy. Special thanks to all the Government officials and institutions that worked
tirelessly in the preparation of this policy.
Maria Kiwanuka
MINISTER OF FINANCE, PLANNING AND ECONOMIC DEVELOPMENT