Signing Ceremony of the East Africa Crude Oil Pipeline
TANZANIA ›› DAR ES SALAAM 20 May, 2021 ››Signing Ceremony of the East Africa Crude Oil Pipeline (EACOP)
President Yoweri Museveni has cautioned the region not to be intoxicated with petroleum as this is an exhaustible resource but urged stakeholders to use it to build the infinite resources in the four sectors that drive jobs and wealth creation including commercial agriculture, industrialization, services including tourism, banking, entertainment and Information Communication Technology (ICT) the new software.
“People always demand for social services including health, education etc but how do you sustain services without production of wealth and jobs,” he said.
The President said they need to have infrastructure development such as roads, railway, electricity for both physical and social energy including a large market that can consume in bulk to create wealth and jobs and the oil pipeline is part of this infrastructure.
“We are starting to agree on the direction. We don’t have poverty but we have lack of direction. In the 1960s in college, we wanted education, now people are educated but no industries. This pipeline is part of that infrastructure. There is a bit of money in this project, if we get this money and do something durable, by the time the oil is finished, we shall be at a different level of development,” he said.
The President was today speaking shortly after witnessing the signing of the Host Government Agreement between the government of Tanzania and the oil companies going to undertake the construction of the oil pipeline from the oil fields in Hoima in Uganda to the Indian sea port of Tanga in Tanzania.
President Yoweri Museveni described the signing of the Host Government Agreement between the government of Tanzania and the East African Crude Oil Pipeline Project (EACOP) for the construction of the oil pipe line as a historic event and a very important regional project that will not only benefit Uganda and Tanzania but will also in the long run serve countries in the Great Lakes region.
“The pipeline is a very important regional project, Tanzania and Mozambique you have gas and the corridor can be used to take another pipeline for gas to help countries in the great lakes region with the resource. What we are doing here today is really historic. I congratulate the government of Tanzania and President Samia Suluhu for this achievement,” he said.