Akram Matovu

Sustainable Utilisation of Resources: the Emerging Oil Industry in Uganda Akram Matovu

In the near future, Uganda is expected to join the league of oil producing countries. This is after the long period of exploration that has at last brought the good news of the existence of the oil and gas deposits in the Albertine Graben (Refer to extract 1). The rest of the world observes closely to make out if it shall attain what other numerous nations have vowed and failed to honor, that is guaranteeing oil wealth, minimizing, or eradicating poverty of the masses through generating employment prospectus and regional economic progress and thus eventually fostering extensive Nationwide Economic and social growth. In view of this, it is the objective of this paper to discuss the principles of sustainable management and utilization that Uganda should espouse to manage its implementing oil wealth and in the event evade the self style oil curse. The study will include an appreciation of the legal and structural policy underlying the national priorities concerning the necessity of sustainable utilization and its practical realization amidst the controversial interests in our country.