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UPDF, URA Demand For A Combined Shs34bn To Safeguard EACOP

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The Uganda People’s Defence Force (UPDF) is seeking for Shs2.5bn to provide security to the East African Crude Oil Pipeline (EACOP), while the Uganda Revenue Authority (URA) also asked for Shs31.5bn to develop an oil and gas monitoring system to be used to monitor all taxpayers within this sector.“You know the security of our oil […]

Here Is The Reason Why The Yaka Meter Is Being Phased Out

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The Minister of Energy and Mineral Development, Ruth Nankabirwa, at a press conference at Uganda Media Centre, on Friday said the use of yaka meter will come to an end this year in October. Without giving reasons for the change, Nankabirwa said the prepaid meters will be migrated onto the New Token Identification System so that […]

World Bank Funded Project Targets 1.3m Electricity Connections

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The government of Uganda, with support from the World Bank, acquired funding of $638 million to implement the Energy Access Scale-up Project (EASP), the Minister of Energy and Mineral Development, Ruth Nankabirwa, told a press conference at Uganda Media Centre in Kampala on Friday. Under EASP over 1,360,000 households, industrial Parks, SMEs, refugees, and host communities […]

Govt Announces 1.6% Power Tariffs Reduction

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The Minister of Energy and Mineral Development, Ruth Nankabirwa, and officials from Electricity Regulatory Authority (ERA) have announced a 1.6 percent power reduction for the first quarter of 2024. The pronouncement was made on Friday 5th January 2024 at Uganda Media Centre in Kampala. The Chairperson of ERA, Sarah Wasagali said a tariff reduction of 1.6% is […]

UEGCL Reports Shs34bn Net Profit

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Uganda Electricity Generation Company Limited (UEGCL) earned a net profit of Shs34bn in the Financial Year (FY) 2022/23, Eng. Proscovia Njuki, the company’s Board Chairperson told shareholders at the 13th Annual General Meeting (AGM) in Kampala.The AGM was attended by the Minister of Energy and Mineral Development, Ruth Nankabirwa Ssentamu, and State Minister of Finance […]

Finance Minister Tours Oil Fields

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The Minister of Finance, Planning & Economic Development, Matia Kasaija, has conducted a two-day monitoring and supervision exercise of works in the oil fields of Tilenga Project in Buliisa district, Kabalega International Airport in Hoima district, and the East African Crude Oil Project (EACOP) in Kikuube district in Western Uganda. Dr. Jane Mulemwa, the Board Chairperson […]

Miners Targeting Lithium In Ntungamo Get M7 Nod

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A proposal by Strand Hanson Limited, a London based company, has been accepted by President Yoweri Museveni. The proposal targets lithium in Ntungamo district, Western Uganda. The mineral will be used to locally manufacture electric car batteries.In a meeting at State House in Entebbe, the President informed the investors that Uganda is currently making electric […]

Uganda Makes Nuclear Energy Targets

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The Minister of Energy and Mineral Development Minister, Ruth Nankabirwa, has revealed that Uganda is set to generate at least 1,000 megawatts of nuclear energy come 2031.“We are looking at 50 percent renewable energy use, 40 per cent of which is going to be nuclear,” said Nankabirwa told the National Renewable Energy Conference that sat […]

Oil Sector Developments Spur FDI Growth

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The Minister of State for Finance Planning and Economic Development, Henry Musasizi, has told Parliament’s Committee on National Economy that the country continued to register growth in Foreign Direct Investment (FDI) inflows in the past Financial Year (FY).“FDI inflows increased by 68.3 percent in 2022/23, largely hinged on the developments in the oil sector as […]

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