Oil Wealth

Welcome To My Webpage Contact Heart Health Facts Issues Quotes Livestyles Lizs Note SURMON Gissel Uk Good Governance George Kosmas Adyebo Memoir The Late Akejo Prime Minister's Home Cosmas and Friends IT Adminstrator ASDI Contact Life Experience Solomenity of Deminoir Pics Files Kampala View Webpage Editorial Wish Within Reach Mistique Cataloge Friends Political View Addresses Life at 'A' Level UPDF Acquiring skills in computer Aduku S.S Contact Tutoring Episode Inter Pals Masindi Port Ouma Ventures into Muddy Water Mistical Thought A Dying Woman World of One Until The Reason Is You The Cup of Coffee Bibilical Seven Sins What He Says History of Internet What God Can Do Church Meeting Deep Shit Adongo Mary Immaculet It's good to be a woman Men during and after sex The Languge of Female Visual Trauma A Long Way Guest Book 8 Will Oil Wealth Improve Uganda's Economy? Besigye Promises to Mechanize Agriculture Oral, Anal and Normal Sex Sexual Network NRM VOLUNTARY TASKFORCE TEAM-AVOLTAST



Will oil wealth improve the economy of Uganda 

Most people assume that when the oil starts flowing the economy will automatically improve, but this is not a gift. There will definitely be more finance flowing into Uganda’s treasury, but if one is asking whether this money will improve the daily lives of the common people, the answer is not so straight forward. What has been demonstrated by other countries is that the benefit depends not just on the level of oil, but on the level of good governance. In the short term, the discovery of the oil practically always brings a benefit, but if wealth is not properly managed, it can actually damage the country in the long term. One only has to look at Nigeria, where there are constant fuel shortages and where the cost of living has soared, to see what happens to an oil rich country where there is rampant corruption.

Some people worry that this is likely to  happen in Uganda since there is general lack of confidence in the public sector to manage public assets.This has been demonstrated repeatedly in cases such as NSSF, Global fund and CHOGM. However, despite this, the governence of Uganda and Mgt of Uganda's economy are stil far better than Nigeria and it would take a long time to reduce Uganda to that degree of chaos. Of course this process can be accelerated in any country, as we witnessed in Zimbabwe, if there is a Megalomaniac in charge who is prepared to rape and pillage for the sole purpose of keeping himself in power.

In Uganda, it is unlikely that we have either a Zimbabwe or a Nigeria scenario, unless soem faction tries to seize power and take the oil resources for themselves. The oil wealth will be used for  development of the country, but from past experience, it is likely that there will be poor value for money.