Uganda’s oil revenue must fund long-term infrastructure, not luxury- Museveni

President Museveni has warned against repeating the economic mistakes of other oil-producing African nations, emphasizing that Uganda’s upcoming petroleum revenues must be directed strictly toward building long-term national assets rather than funding luxury imports.

Speaking during the official naming ceremony for the country’s crude oil at the Kingfisher Development Area in Kikuube District on Wednesday (September 2, 2026), the President revealed that Uganda’s oil brand will formally be known on the international market as “Pearl Sweet Petroleum.”