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Museveni Meets UK Moneybags, Urges them to Invest in Oil Sector

President Yoweri Museveni has met a delegation of several British investors led by Lord Popat Dolar of Harrow at State House, Entebbe.

The investors from several British companies are in Uganda to look at possible investment opportunities in the oil and gas sector in Uganda.

President Museveni informed his guests that there is need to do further exploration of hydrocarbons in Uganda because the oil that has been discovered in the country only covers 40% of the area.

“There is more to discover in the area. 60% of the area still needs exploitation. The job here is to discover if there is enough quantity of oil and gas to consider for commercialization,” he said.

The President also advised the UK investors to consider establishing training schools in order to equip Ugandans with oil and petroleum skills in preparation for the upcoming oil sector in the country.

Other areas that the President brought to their attention for investing in and to co-operate with Uganda include the agro-processing industries and infrastructural developments like roads and the refurbishment of the old railway routes.

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