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Linkages between the Oil and Gas and other Sectors of Uganda’s Economy; Opportunities and Challenges
The planned oil and gas activities provide an opportunity for economic growth for the country through participation of Ugandans and Ugandan Enterprises. Uganda’s Gross Domestic Product (GDP) is approximately US$ 29.5billion growing at an estimated 6.1% (FY 2018/19). According to Uganda’s Vision 2040, development of the country’s oil and gas resources is deemed crucial in spurring economic growth and development. Experience has shown that development of the oil and gas industry can create an enclave economy if its development is not integrated within the wider economy.
Harnessing the linkages between oil and gas and other sectors of the economy is therefore key for broad based, inclusive economic development. Defining and creating these linkages is therefore very critical for the growth and sustainability of Uganda’s economy.