The discovery of commercial quantities of oil presents Uganda with both opportunities and challenges. Using reasonable estimates, the country possesses at least $75 billion in assets in the form of oil – five times Uganda‟s 2010 national GDP. Even taking into account that the proceeds must be shared with oil companies and others, oil will make a substantial addition to Uganda‟s national wealth. There is great potential for Uganda to leverage this newly discovered wealth for the betterment of its people and to bring a generation out of poverty.
Uganda is at a crossroads. Though colonization, poverty, corruption, paranoid authoritarian president and self-motivated warlords have torn apart the social fabric of Uganda multiple times over the past century, the recent discovery of oil has sprouted a glimmer of hope, a pot of gold that will raise the country out of the cycle of poverty. At the same time, this discovery has raised fears of a project that could swing dangerously wrong, as it did in Africa’s top oil producer, Nigeria. The Capstone project aimed to provide practical implementable advice to all stakeholders on how Uganda can turn oil revenues into a boon for all Ugandans in a sustainable and equitable way.
Daily Monitor (http://www.monitor.co.ug/News/National/-/688334/1362986/-/axdvl9z/-/)
The Independent (http://www.independent.co.ug/cover-story/5427-parliament-to-pass-weak-laws-on-oil)
Oil in Uganda (http://www.oilinuganda.org/features/environment/you-have-to-go-slow-in-order-to-go-fast.html#more-1990)
SIPA News (http://columbiasipa.tumblr.com/post/21218909551/avoiding-the-resource-curse-in-uganda)