Uganda: 'Oil revenues should be used to make a more humane society'

Uganda should deploy oil revenues to create universal old age pensions and universal health insurance to make a more humane society. This would be a real investment in the future of the nation. So says Dr. Ezra Suruma, Uganda’s former Minister of Finance, in this exclusive interview with Oil in Uganda. He accepts that it will be prudent to place some of the revenues in an Investment Fund - because too much money flowing too fast into the general budget would be difficult to absorb. But, he argues, all Ugandan citizens should become individual shareholders in the Investment Fund, in order to ensure that each and every citizen benefits directly through annual dividends - and also to create citizen-shareholder pressure for transparent and corruption-free management of the funds.