Kampala, Uganda: President Yoweri Kaguta Museveni has declared that Uganda’s economy can grow tenfold, from the current Gross Domestic Product of $50 billion to $500 billion, if the country fully exploits its mineral wealth, agriculture, tourism, and scientific innovation.
“Since 1986, Uganda has progressed through five stages of development, and the NRM aims for the country to become a $500 billion economy in the next five years.”
Mr Museveni made the remarks on Saturday, June 28, as he officially picked nomination forms for both the National Resistance Movement (NRM) National Chairperson and Presidential Flag Bearer positions at the NRM Electoral Commission Headquarters in Kyadondo, Kampala.
Accompanied by the First Lady, Janet Museveni, the President said the transformation witnessed in Uganda’s mineral sector was proof that such ambitious targets are realistic.
Museveni cited the gold industry, where exports have risen from $200 million to $3 billion, thanks to government policies that banned the export of unrefined gold and forced investors to set up refineries within Uganda.
“When I stopped the export of non-refined gold, investors were forced to come here. That is why today, we have nine refineries. If we apply this same approach across the board, the economy will grow,” Museveni said.
According to the Ministry of Finance figures, Uganda’s strategy to reach the $500 billion target by 2040 is anchored on four pillars: Agro-industrialisation, Tourism, Mineral Development, and Science and Technology Innovation (ATMS).
The Ministry’s Permanent Secretary, Ramathan Ggoobi, recently noted that Uganda’s main challenge is ensuring the responsible parties can coordinate effectively to deliver this vision.
President Museveni also used the occasion to rally NRM members to reject corruption and elect leaders who understand the party’s ideology. “This time, I want us to really wipe out corruption,” Museveni said, urging voters to avoid taking bribes and to focus on leaders who will serve national interests rather than personal gain.
He further cautioned NRM leaders against “politics of personality” and called for politics based on issues and policy.
Museveni also thanked the newly elected NRM district chairpersons and encouraged them to maintain impartiality as the party heads into primaries and the 2026 General Elections.
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