Lugoloobi challenges stakeholders to maximise value from Uganda’s minerals

Minister of State for Planning Amos Lugoloobi has challenged stakeholders in Uganda’s extractive industry to strengthen governance, promote responsible investment, and improve revenue management to ensure the country benefits more from its mineral resources.

Lugoloobi made the remarks on Friday, November 6, 2026, while opening the national dissemination of the Fifth Extractive Industries Transparency Initiative (EITI) Report at Protea Hotel in Kampala.

He questioned whether Uganda was getting maximum economic value from its minerals before they were exported.

“Are we maximising the value of our mineral resources before they leave the country?” Lugoloobi asked.

According to the Minister, Uganda’s extractive sector generated approximately Shs 663.24 billion in revenue during the 2023/24 financial year, with mining and quarrying contributing Shs 336.97 billion.

He said the figures highlight the sector’s economic importance and the need for the government to strengthen revenue collection, monitor mineral production and exports, and ensure companies meet their tax obligations.

Lugoloobi further noted that EITI reporting provides valuable information on mineral production, exports, company operations and payments, helping Government identify revenue leakages and improve the collection of royalties, corporation tax, withholding tax and surface rentals.

He emphasised that EITI should go beyond publishing reports and serve as a tool for strengthening economic management and mobilising domestic revenue.

“EITI should not be viewed simply as a reporting exercise or an obligation to publish periodic reports. It is a governance and economic management instrument that can help Uganda mobilise more domestic revenue and derive greater value from its natural resources,” he said.

Uganda has so far published five EITI reports covering financial years 2019/20 to 2023/24.

The reports recommend strengthening institutional capacity, improving data quality and accessibility, enhancing transparency in mineral licensing and beneficial ownership, improving revenue disclosures, and expanding environmental and climate-related reporting.

The initiative is expected to strengthen accountability and transparency in Uganda’s extractive sector while ensuring that the country’s natural resources contribute more meaningfully to national development.