Uganda’s 1st Oil Expected in 2026, PM Nabbanja Says as She Woos UAE Investors

Prime Minister Robinah Nabbanja has announced that Uganda’s long-awaited first oil drop is expected in 2026, a milestone she said will transform the country’s economic fortunes and accelerate its journey toward sustainable development.

Delivering her keynote address at the 4th Uganda-UAE Business Forum at Speke Resort Munyonyo, Nabbanja said the upcoming oil production marks the beginning of a new economic chapter for Uganda.

She said that Uganda’s oil journey has taken patience and persistence adding that with the first oil expected in 2026, this will be a turning point that will boost our economy and attract new investments.

The Prime Minister noted that the forum’s theme — “Accelerating Bilateral Investment for Sustainable Growth” — reflects the shared ambition between Uganda and the UAE to create prosperity through trade, investment, and innovation.

She commended the flourishing bilateral relations between Kampala and Abu Dhabi, underscoring President Yoweri Kaguta Museveni’s three official visits to the UAE in recent years as a testament to the growing partnership.

“These high-level visits have deepened our relations and culminated in the signing of six Memoranda of Understanding, which continue to shape cooperation in areas such as trade, energy, investment, and technology,” Nabbanja stated.

She added that the UAE has equally demonstrated commitment by sending several high-level delegations to Uganda, signaling mutual trust and confidence in the partnership.

Earlier, Uganda’s Ambassador to the UAE, H.E. Zaake Kibedi, highlighted the tangible results of this strengthened cooperation, revealing that trade between the two countries has surged from $600 million in 2018 to $2.85 billion today, making the UAE Uganda’s leading destination for exports.

“We have grown from two to six direct flights between Uganda and the UAE. The number of Ugandans working in the UAE has increased from 40,000 in 2018 to 160,000 today, remitting about $350 million annually,” Ambassador Kibedi said.

The Uganda-UAE Business Forum 2025, running from October 27–29, brings together policymakers, investors, and business leaders to explore opportunities for deepening cooperation under the theme “Accelerating Bilateral Investment for Sustainable Growth.”