Uganda reiterates commitment to extractive sector transparency at EITI conference

Amos Lugoloobi represented Uganda at the 10th Extractive Industries Transparency Initiative (EITI) Global Conference in Brussels. Lugoloobi reiterated the government's commitment to ensuring transparency and accountability in managing funds from the country's extractive sector, including oil and gas. The latest EITI report for Fiscal Year 2023/2024 showed that companies disclosed a combined social expenditure of 261.9 million shillings, with CNOOC Uganda Ltd reporting 198.66 million shillings in mandatory social expenditure.

The commitment to transparency in resource management is a key component of international governance standards. Lugoloobi called on other oil and mineral producing countries to ensure their resources are used transparently for the benefit of their citizens. The disclosures recorded in the report provide specific figures on mandatory social and environmental spending by companies operating in Uganda.