The Uganda National Oil Company’s takeover of petroleum product imports has delivered remarkable results for consumers and the economy since December 2023. Despite initial skepticism about UNOC’s capacity to handle this critical responsibility, the state enterprise has maintained stable fuel supplies while achieving unprecedented price stability. This success has directly influenced inflation rates and living costs across Uganda. Small fuel retailers have particularly benefited from equal access to UNOC’s fuel stocks in Jinja, reducing incentives for adulteration practices previously common among smaller operators struggling to compete with industry giants. Most impressively, UNOC exceeded profit targets sixfold, generating 37.6 billion shillings against a projected 6.989 billion. The company’s success story demonstrates how well-managed government entities can effectively serve public interests while generating substantial returns for reinvestment in social sectors like health, education, and infrastructure. With reliable fuel supplies now guaranteed nationwide, UNOC’s model could potentially inspire similar interventions in other essential sectors like agriculture, where farmers continue struggling with counterfeit seeds and agricultural inputs.
Source: Nile Post
