Otunnu: Corruption a threat to oil revenue
By Lakshmi Gandhi–
Opposition leader Olara Otunnu said on Friday that the profits from Uganda’s budding oil industry will be lost to corruption unless there is more government transparency.
“Based on the current record all that money would be swindled. All this is being handled personally and exclusively at the kitchen table of the president. We know nothing about it,” Otunnu, the head of Uganda Peoples Congress party, told Reuters.
Otunnu, who was Uganda’s foreign minister in the mid-1980s, will face President Yoweri Museveni when elections are held in February. British companies Tullow Oil and Heritage Oil have found 2 billion barrels of oil in the Albertine Rift Basin. Reuters estimates Uganda could earn $2 billion a year from the reserves.
Also on Friday, the Wall Street Journal reports that Museveni met with a delegation from the Dubai-based Africa Middle East Resources (AMER) about potentially investing in Ugandan oil. A government spokesperson said the meeting was a follow up of June meetings with the company.
Olara Otunnu (Photo Credit: .edu)
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