EID GIFT! Uganda & UAE Sign Oil Refinery Implementation Agreement

Uganda has taken a major step toward achieving energy self-sufficiency and economic transformation with the signing of a historic oil refinery implementation agreement with Alpha MBM Investments LLC, a company based in the United Arab Emirates (UAE).

The agreement, whose signing coincides with the end of Ramadan, is the perfect Eid gift to crown thirty days of fasting.

It was signed in the presence of President Yoweri Museveni at State House Entebbe on Saturday, pointing to Uganda’s commitment to industrialization and value addition to its natural resources.

Energy Minister Ruth Nankabirwa signed on behalf of Uganda while Sheikh Mohammed bin Maktoum bin Juma Al Maktoum, put pen on paper for Alpha MBM Investments LLC.

The project, which will see the construction of a crude oil refinery in Hoima District, is set to have a capacity of 60,000 barrels per day. President Museveni hailed the agreement as a game-changer for Uganda’s energy sector and broader economic landscape.

“I want to thank His Highness Sheikh Mohammed Bin Maktoum and our friends from the UAE for their commitment to investing in Uganda. This oil refinery is not just about fuel but also about Uganda producing and exporting refined products instead of importing them,” President Museveni stated.

He emphasized the importance of value addition in Uganda’s economic strategy, noting that the country must move away from exporting raw materials and instead focus on industrial processing.

The refinery project is expected to create jobs, boost local industries, and reduce Uganda’s dependence on imported petroleum products. By refining its own crude oil, Uganda aims to enhance energy security and generate revenue through exports.

It is part of Uganda’s broader goal of harnessing its natural resources for national development. Hoima District, which is at the heart of Uganda’s oil discoveries, will soon become a hub for the country’s petroleum industry, attracting further investments and infrastructure development.