Looking at achieving transparency in the oil sector | PANORAMA
Uganda’s long journey to becoming a major crude oil exporter received a major boost last weekend when a historic deal was signed between two presidents and the Total CEO. There is anticipation that if the oil revenues are put to good use, this can be a catalyst for economic growth and lead to the improvement in community livelihoods. Uganda recently ratified the Extractive Industries Transparency Initiative, which monitors and assesses the progress of countries in managing the oil and gas resource. Could this be the gold standard to foster transparency and accountability or it is yet another ritual?