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Museveni Assures Double-Digit Economic Growth with Oil Production
President Yoweri Kaguta Museveni, who is also the Commander-in-Chief of the Uganda People’s Defence Forces (UPDF), has assured Ugandans that the country’s economy will grow into double digits once oil production begins.
“After June this year, our economy will grow by 7.3 percent without oil. That’s a high growth rate—very few countries can achieve that. With oil, our growth rate will rise into double digits, exceeding 10 percent,” he said.
The President, who was accompanied by the First Lady and Minister of Education and Sports, Maama Janet Museveni, made these remarks during the 44th Tarehe Sita Anniversary celebrations at Kasasa Township Grounds in Kyotera District.
The celebrations were held under the theme: “Celebrating Pan-African Solidarity and People’s Sacrifice in the Struggle for Freedom and Democracy for Socio-Economic Transformation.”
Tarehe Sita is observed annually on February 6 to commemorate the founding of the People’s army. The day honours the heroic efforts of the founding fathers and the People’s Revolution.
The President noted that Uganda’s economy is steadily growing, thanks to the five key phases of economic and social transformation since 1986.
“As a result of these efforts, although we still have a lot to do, our economy will reach USD 59.3 billion by June 2025 using the Foreign Exchange Method and USD 168.5 billion by the Purchasing Power Parity (PPP) method. Remember, we started at just USD 4 billion in 1986,” he said.
Museveni outlined the five economic phases:
- Minimum economic recovery – Reviving the colonial-era 3Cs (Coffee, Cotton, Copper) and 3Ts (Tobacco, Tea, Tourism), which had been destroyed under Idi Amin.
- Expanding the economy – Increasing coffee production from 2 million to 9 million bags.
- Diversification – Broadening economic sectors beyond traditional exports.
- Value addition – Boosting local processing and manufacturing.
- Entering the knowledge economy – Advancing industries such as automobile manufacturing and vaccine production.
The President also pledged to generously reward local scientists who have contributed to innovative developments, including vaccines.
“We must congratulate our people. Our universities and some factories are now manufacturing most of the diagnostics we need. We are also self-sufficient in sanitisers,” he said.
Additionally, Museveni urged Ugandans to focus on value addition to maximize their economic gains.
“With coffee value addition, we are making progress. We are supporting several groups. That’s why when we talk about targeting a USD 500 billion economy in the next few years, take it seriously,” he stated.
“The Greater Masaka area is making strides in commercializing coffee, palm oil, and milk. Add irrigation, and the sky will be the limit. In the Katonga floodplain, we can do a lot of fishing. But I don’t think growing rice there is a good idea—we shall discuss that.”
Museveni emphasized that Uganda’s long-standing peace is a result of the National Resistance Army’s (NRA) commitment to strong philosophical, ideological, and strategic principles.
“These principles have enabled Uganda to remain peaceful by building a strong army and other state institutions, expanding education and health services, modernizing infrastructure and electricity, ensuring freedom of speech and worship, and promoting Pan-Africanism through regional and political integration,” he said.
He congratulated Ugandans on reaching the 44th Tarehe Sita Anniversary, marking the NRA’s attack on Kabamba in 1981.
“I congratulate the combatants and the people of Uganda on the victories we have achieved since that day. We thank God for these successes,” he said.
“Since we are in Kakuuto, I must thank the people of Greater Masaka for their support during the liberation struggles of 1972, 1979, and 1985-86. Major historical battles were fought here, and I deeply appreciate your contributions.”
President Museveni directed the Ministry of Works and the Ministry of Finance and Planning to prioritize the maintenance of old roads before constructing new ones.
“I must apologize to the people of this area. We have built many roads in Uganda, but the planners in the Ministry of Works made some mistakes. They focused on new roads and neglected the old ones. That’s why the Mutukula-Masaka road deteriorated. By the time they started working on it, it was already in bad shape,” he noted.
“We have now given clear instructions: old roads must be maintained before starting new projects. That scattered planning approach must stop.”
President Museveni concluded his speech by reaffirming the UPDF’s capacity to protect Ugandans and their property.
“As the Chief of Defence Forces, Gen. Muhoozi has assured you, the UPDF has the full capacity to protect you and your property, with your support,” he said.
The Minister of Defence and Veteran Affairs, Hon. Jacob Oboth Oboth, assured the President that the Ministry is working closely with the army’s leadership to maintain peace and security in Uganda.
“The only thing I must emphasize is that we must all guard and protect the NRM’s achievements without fear or favor,” he said.
“Your Excellency, you risked everything to launch an armed struggle with minimal equipment. Today, the CDF has affirmed that our military capability has significantly improved. As Ugandans, we must stand firm and safeguard what we have achieved.”
Chief of Defence Forces (CDF), Gen. Muhoozi Kainerugaba, also spoke, acknowledging the historical significance of Tarehe Sita as the day Uganda’s liberation struggle against dictatorship began under Gen. Museveni and 27 other fighters.
“This day holds great importance in the history of the UPDF and the NRM. It reflects our journey of continuous growth, despite challenges,” he said.
“We honor and revere all those who sacrificed their lives for this country. Under the guidance of our senior leaders and through experience, we will continue to push for fundamental change and ensure security for all Ugandans.”
Gen. Muhoozi expressed gratitude to President Museveni and all those who believed in his vision for a free, prosperous Uganda and Africa.
“To everyone who contributed to the liberation struggle, we owe you our heartfelt thanks. Tarehe Sita remains special, not only for its historical significance but also for the achievements we continue to witness in our nation,” he said.
“As the UPDF, we are committed to consolidating the gains of the liberation struggle. We will ensure peace and security within our borders while also supporting our brothers and sisters across Africa. This Pan-African spirit will remain a cornerstone of our mission.”
At the same function, 41 individuals were awarded medals for their exceptional contributions to Uganda’s liberation.
Vice President H.E. Jessica Alupo, NRM First National Deputy Chairman Alhajj Moses Kigongo, NRM Secretary General Rt attended the event. Hon. Richard Todwong, ministers, members of parliament, senior security officers, and other dignitaries.
