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The Minister of Energy and Mineral Development, Ruth Nankabirwa, held a fruitful meeting with Tanzanian President Samia Suluhu about proposed policy for bulk importation and supply of petroleum products to reduce fuel prices over the weekend in Dar es Salaam, Tanzania.

Over the weekend in Dar es Salaam, Tanzania, the President of Tanzania, Samia Suluhu, and the Minister of Energy and Mineral Development, Ruth Nankabirwa, had a productive meeting regarding a suggested policy for the bulk importation and delivery of petroleum products to lower fuel costs.

Minister Nankabirwa briefed President Suluhu on Uganda’s proposed policy for bulk importation and supply of petroleum products to reduce fuel prices.

On the Minister’s team at the meeting were the Energy Ministry’s Permanent Secretary, Irene Bateebe, and other Ugandan government officials.

The minister outlined the potential benefits of the importation policy, which seeks to establish an efficient framework for procuring fuel from international suppliers at lower costs. Additionally, the team updated President Suluhu on the progress of the East African Crude Oil Pipeline (EACOP) project, which will transport Ugandan crude oil to Tanzania’s Tanga port for export.

Both parties expressed optimism about the economic benefits that the importation policy and EACOP project can bring. President Suluhu welcomed Uganda’s efforts to lower fuel costs for its citizens, recognising the importance of affordable energy in driving economic growth and improving living standards.

This development highlights Uganda’s commitment to enhancing its energy sector and fostering regional collaboration in the energy industry. The government continues to work towards implementing the importation policy and advancing the EACOP project, aiming for a sustainable and prosperous future for Uganda and Tanzania.

Nankabirwa last week tabled in Parliament a Bill that empowers Uganda National Oil Company Ltd (UNOC) to be the supplier of all imports to the licensed oil marketing companies of petroleum products in the country.

The Bill is titled “The Petroleum Supply (Amendment) Bill 2023).

The Bill seeks to empower UNOC to ensure security of supply of petroleum products, improve petroleum product stock holding levels within the country and contribute to the competitiveness of consumer and retail pump prices.

Nankabirwa said the Bill seeks to repeal the Petroleum Supply Act of 2003.

She said the current Act does not empower UNOC to supply all imports to the licensed oil marketing companies of petroleum products for the Ugandan market.