The experts finally confirm it,Buganda too has oil.It may take longer to bring it out but at least,they have found the guts to say it.It has been kept secret for long.The experts confirm the oil is around the shores of L.Victoria and L.Wamala in Mubende but said that it has not yet matured.It still has along way since the segments are still few.
Many areas in Uganda have minerals but have not been formally listed because of the fear of people rushing to buy land in those areas and hike land prices
Do you remember the kayunga circus of 2009? Do you know the causes? Well,secrets about oil were one of them.Yesterday, NTV reported that the experts confirmed it.This has been well known but informally.I dont know why government doesnt want to mention areas where minerals are but I think the fear is that these areas too will jump on the federal question.
For Buganda already it will fuel the demand for federalism ,which the government avoids.Oil has been found in areas in Kayunga,kiboga and Kyankwazi.Obviously,gold we all know a lot of deposits in Mubende.Other areas too,like Busia Have gold and is mined but one wonders who benefits from these but mubende`s gold is better than that of Busia.The Karamojong GOLD is of better quality than those of mubende and Busia.
Some of these minerals are mined but secretly and God knows whether the money reaches the treasury. With Oil,It is even said that the deposits of it in Northern Uganda in Amuru area could even be much more that those in Hoima.And the total oil reserves in Uganda could be much more than those of Soudi Arabia.
If we have caring leaders and not really rulers,Uganda would benefit from oil but these agreements the regime is signing with the investors,it is really questionable whether uganda will benefit at all.Imagine,the investors have to first cover all their expenses before uganda can start getting money from oil.The realistsic date is at around 2022 for full extraction ,though the government says 2017.
The question is ,what will the expenses for the invstors be by that time? At present ,their expenses are around $5b .How long will it take to get that money for the investors ?Lets assume,by 2022,their expenses are 14b$,how long will it take to recover that amount? so, there is little hope that uganda will benefit really from the oil as the investors stand to gain far much more than Ugandans.
The spirit that led them to destroy the Lubiri in 1966,I can see it is still very live.So, just deny them power because they still harbor the same intentions!! A Leopard Never changes its spots.You are warned.It is written on the walls,the same yesterday,today and for ever!!