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Uganda's Auditor General, John Muwanga.

Levy royalty on sand mining and stone quarrying, advises Auditor General

The Auditor General is proposing that the government starts taxing the commercial excavation of sand and rocks.

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Refinery Dark Picture

Uganda in new search for refinery investor

Three months after RT Global Resources pulled out of negotiations to construct the oil refinery, government has launched a search for a new investor.

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Energy Minister Irene Muloni

Finally! Oil companies welcome production licenses

The Minister for Energy and Mineral Development, Irene Muloni, yesterday issued 8 production licenses to the Joint Venture oil companies.

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A woman sets up a roadside stall in Kigorobya, Hoima. (Photo: Stephen Wandera)

Hoima farmers rue shrunk market for their produce

Demand for fresh produce from the oil camps dropped to a paltry 2,490 kilograms in 2015, from 73,286 kilograms the previous year.

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Libyan Sovereign Wealth Fund case offers good lessons for Uganda

While a trendy priority for new oil producers, sovereign wealth funds can easily be manipulated if their internal governance and oversight are not strong enough. 

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Did you Know?

Petroleum Fund, Stabilisation Fund, Sovereign Wealth Fund

A fund, separate from government’s general budget, which receives part or all of the revenues from natural resources.  Norway, Chile and some oil producing countries in the Middle East have created such funds.   The money is invested, rather than spent, so that future generations will also have the opportunity to benefit from the present harvesting of natural resources.  Saving some of the revenues for future use also helps to reduce the risk of ‘Dutch Disease.’

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