President Museveni speaks out on matters of national importance .
President Museveni,
I am coming here to share with you in the issue of the imported inflation because that is what we are suffering from. These high prices originate from outside.
Fuel is the one of the major causes of inflation. Number two is fertilizers then palm oil (buto) and also wheat. You people that eat bread, not me, but bread eaters get a problem of wheat. All these are imported.
The other three are expensive for separate reasons.Fertilizers it is because of the sanctions on Russia. Palm oil it is because of the behavior of Indonesia and Malaysia who were producers. Wheat again, it is Ukraine and Russia.
As I told you last time fuel(petrol) went up because in twenty years time petroleum and diesel for use in cars will no longer be allowed globally. Because of that people have abandoned the business of investing in petrol.
We are lucky, we that had already discovered our petrol which will come out by 2025. For us we are going to enjoy that money because all other people are no longer looking for the petrol, they will have moved to the electric cars.
Because of the gap between now and then, the price will have gone up for the little petroleum that is available now and ours will benefit from that.
Some people think politics is just talking and going to weddings and funerals. From the beginning, NRM told you that politics is a matter of life and death. If you handle politics badly, you will end up with bad results.
The shirt I am putting on is a Ugandan shirt, that is why I don’t put it off. This shirt is made by fine spinners, made of polyester and cotton. In a few years time we shall also also be making the polyester here, from our petroleum.
I don’t know why Ugandans are still buying second hand clothes(emivumba). They should be buying products of Nytil and Fine spinners because it is a lot of money which you are wasting.
As I told you last time we are going to move on value addition of all these other crops like coffee.We are now earning $800million ,the biggest in Africa but with value addition we can go to billions
In Kirembe we are going to make sure we have a tin refinery,a copper refinery.I was discussing with the group to build a tin refinery in the Ntungamo area.We are going to build a steel factory in Kabale using hydrogen instead of coal.
There was an opinion of wanting to subsidize the petrol from outside and remove taxes. That one we said no, this is not wise. So the question is what do we do? Do we intensify dependency or do we disengage?.
The money that we have is funded by the money from taxes which people say we should remove.That means we should forget about the road which we were about to do, we stop it and put the money in subsidizing petrol and send more money to Arabs.
The long term answer to the four big imported problems: we shall make our own fertilizers.For palm oil the answer is growing our own.Wheat, I hear the price is going down and there are better alternatives like cassava, akalo which I take”.
