Prime
Prof Augustine Ife calls for clear oil laws, regulations
An oil pipeline. The February 1, 2022 announcement of FID means launching Uganda’s oil project to the next development and construction phases. PHOTO/NMG
What you need to know:
- Local content needs to be enhanced enough to make sure Ugandans are able to benefit from the process in terms of job creation,” he said.
Prof Augustine Ife, a specialist in the oil and gas sector, has asked government to provide clear laws and regulations if Ugandans are to benefit from their natural resources.
His remarks come after government entered into the Final Investment Decision on an oil and gas project where more than Shs30 trillion ($10b) is expected to be injected into the economy in the next couple of years.
Prof Ife, who is also the deputy vice chancellor of Victoria University in Kampala, said oil and gas is a very technical industry which requires a lot of skills and capacity for one to be able to take part in it.
“Although Ugandans need to look for opportunities to develop themselves, there must be laws and regulations governing the new oil and gas projects for all stakeholders to benefit,” he said at a press conference in Kampala yesterday.
Prof Ife added that those who have skills from other sectors can cross into the industry by seeking proper skill development opportunities to be able to take part in this industry.
“A lot of skills and competence are required to have opportunities in these industries. Ugandans need to build capacity and acquire skill and get ready to provide services,” he said.
He added that this is a great opportunity and Ugandans have to ensure they get the best from the industry, but only when the right laws and regulations are in place.
Prof Ife added that in a few years’ time, Uganda is expected to be in position to take over the activities within the oil and gas industry on an estimate of 50 to 80 percent because that is what is happening in other countries.
“Local content needs to be enhanced enough to make sure Ugandans are able to benefit from the process in terms of job creation,” he said.
At the same press conference, Mr Lawrence Muganga, the vice chancellor of Victoria University, urged universities to embrace technology and innovation if they want to produce graduates who can compete on the international market.
