Museveni's hard-hitting speech telling African Presidents to stop exporting to Europe raw materials

"Uganda discovered some oil about 20 years ago. Up to now, we have not started pumping the oil out of the ground. We are about to start. But the main problem was that we didn't agree with the oil companies because they were saying that we should build a pipeline to take the oil, the petroleum, out of the country. Then I told them that I had a rumour that there were human beings here. Why don't we process this petroleum for these human beings who are rumoured to be here? It's not confirmed, but the rumors say there are some, oh, big, battles. They told me that oil refineries don't make money. So, then I said, but if they don't make money, those who run them, why do they run them? Are they Mother Teresa? Now I happen to go to Iran. When I went there, I said, You people, do you have oil refineries? They said, Yes, we have nine. Iran had nine refineries. Now here they didn't want me to have one, just one. So, because of those battles. It took time, but now, eventually, they gave up and we shall build the refinery and the pipeline also. And when they made a calculation, the oil refinery is very productive and profitable. What they call the internal rate of return (IRR) is very high, much higher than in other places. So that war of wanting to keep Africa the raw material-producing continent is a very big one," President Kaguta Museveni said at opening session of the Extra-Ordinary AU Summit on the Post-Malabo Comprehensive Africa Agriculture Development Program (CAADP) at Speke Resort Munyonyo

[aiahsdaughter]

A thoroughly complete assessment of the rich agriculture in Uganda 🇺🇬 by his Excellency. He is truly well read and understands the history of the continent of Africa 🌍 and its vast wealth in land and resources.

Shalom family ✨️

[charlesotim]

I like the President's ideas. I have been telling my own family these great ideas.

[aldoajoudeng-akuey]

President Museveni: I award you an excellent in this deeply enriched historical and future dedicated plane, not only for Uganda, but for all of Africa, I must congratulate you for your PanAfricanism speech. Thank you so much for now. I am your age made from South Sudan, the country you fought for.

[WakiisaEmmanuel]

Long live museven our loved one president of Uganda

[dailyolivia]

I love how this video highlights the importance of embracing each challenge. It’s a reminder that progress happens when we face difficulties head-on.

[vonniofdoom]

This man is just doing hot air for 30 minutes meanwhile his country is one of the poorest in the world!!!

[Rkikomeko]

Uganda needs a refinery, more than one.

[Anonymous-fmyh]

Did someone write his speech?
One thing I know he needs to leave!!!

[AbahoGodfrey-hj]

Long live His Excellency the president of Uganda 🇺🇬🇺🇬

[Rkikomeko]

Uganda used to have Lindt marketing board in Jinja (for marketing cotton)Should invest in same again .

[Gerald-xt]

Iron smelting project here in bushenyi

[alexmwesigwa]

My president cut electricity prices and water price we need equipments at normal price see bukina faso the guy is distributing tractors to farmers I don't know who bewitched our politicians

[OmallaMartin]

Let me enjoy my kikomando as i listen, ortherwise the union should have talked about àn East African minimum working wadge, and furthermore improve the money currency as well to give value for production in all... Africa should know that our currencies are the problem as well

[jara]

***Mzee always uses his favourite economic concepts such as enclave economy, depending on 3Cs and 3Ts.
** I see too much of Nyombi Tembo in his speech. Confusing our president with outdated post colonial economics.

[moseskazungu]

Ebyo byona yogera naye ekibuga Kampala kirabika bubinyo toyambe kijemu ebyobufuzi Ebikiziza emabega.!!Obadeko Dubai olabye bwebazimba ebyo babizimbide emyaka asatu oba Ana gwe bikulemye Government naboluda oluvuganya mwafuka Mpuku zabanyazi.!!!

[ThomasReginaThomaspresident]

Regina thomas president ugandans12/1/2025❤😂🎉😢😮😅😊

[ronnielumu]

No matter how eloquently you talk, how elaborately you explain in a written speech, if your country is poor, for all the 40yrs you've been unopposed as president, vast lands lie idle without any substantial commercial agric while children are malnourished, eat one meal a day, you're a failure

[overcomers]

But the general Ugandans looks bad and rural parts are bad

[momwanafunziuumbaji]

I affectionately refer to H.E. Yoweri Kaguta Museveni as PROFESSOR IN CHIEF 😁 If anyone deserves the title H.E. it's him.