By Benjamin Jumbe
Economists and policy analysts have tipped the government on avoiding the oil curse.
This comes after the government of Uganda signed final agreements to give way for the commencement of oil production activities in the country.
Speaking to KFM, economist and policy analyst Ramathan Goobi says many African countries have suffered due to the existence of such resources as oil due to poor governance of the natural resources.
He however says the same can be avoided by doing certain things including investment in good governance, institutions and properly using the resources from the oil.
Meanwhile, the Ministry of energy and mineral development has allayed fears of biodiversity loss due to the oil activities about to start.
It comes at a time several environmentalists have expressed fear that some animal and bird species could be extinct once the oil production starts in the Albertine graben region which is also home to a number of the protected area.
The minister of energy and mineral development Dr Kitutu Kimono Mary Goretti who previously was a minister for the environment says the government knows the sensitivity of the biodiversity in the area and considered the best and safest options to conduct these activities. She says there is, therefore, no need for fear or worry.
This comes after the government signed key agreements with oil companies to give way for the production process to start with the first oil expected in 4 years’ time.