Africa-Press – Uganda. The Ministry of Finance, Planning and Economic Development has revealed that Uganda is expected to earn over Shs2.2 trillion in oil revenue in the 2026/27 financial year from the country’s first oil production activities, with a significant portion expected to finance the national budget.
The revelation was made by Henry Musasizi, the Minister of State for Finance, Planning and Economic Development, while appearing before Parliament’s Committee on Finance, where he led a team presenting the 2026/27 Ministerial Policy Statement for the ministry.
“In preparation for the first oil, overall progress on development of the East African Crude Oil Pipeline is at 80%. Five engineering studies are being conducted for the oil refinery project. The Government expects about Shs2.2 trillion from oil revenues next financial year 2026–2027, of which Shs 1.4 trillion is programmed to finance the budget,” he said.
Minister Musasizi also outlined several achievements registered under the Parish Development Model and other wealth creation funds.
He indicated that as of December 2025, all PDM SACCOs had been capitalised with an additional Shs 529 billion, with each of the 10,589 verified SACCOs receiving Shs 50 million as the first tranche of capital.
“Cumulatively, Shs 3.63 trillion has been disbursed as parish revolving funds to last-mile beneficiaries. As a result, we have achieved financial inclusion for more than 3.6 million beneficiaries who were previously unbanked,” he said.
Under the Emyooga Programme, Minister Musasizi revealed that over Shs 100 billion was disbursed in affordable credit, benefiting more than 350,000 individuals, while Shs76.32 billion in Emyooga seed capital was disbursed to 3,816 SACCOs supporting over 1 million beneficiaries.
He said these interventions have contributed to the creation and maintenance of over 1.1 million jobs.
He further revealed that by December 2025, under the Agricultural Credit Facility and the Uganda Agricultural Insurance Scheme, a total of Shs40.7 billion was disbursed as government capitalisation of the Agricultural Credit Facility, while Shs7.5 billion was disbursed as a government subsidy to the insurance scheme, bringing the cumulative number of farmers who have benefited from the scheme to 959,919.
Minister Musasizi also revealed that in the coming budget for FY2026/27, the Ministry of Finance is expected to receive a total budget of Shs2.78 trillion.
He added that subventions under the ministry will include allocations to several government institutions, including the Tax Appeals Tribunal, the Public Procurement and Disposal of Assets Appeals Tribunal, the Economic Policy Research Centre, and the Capital Markets Authority.
The ministry further indicated that in the 2026/27 national budget, Enterprise Uganda has been allocated Shs26 billion, while the Microfinance Support Centre has been allocated Shs176.67 billion.
The Uganda Development Bank is expected to receive Shs415.19 billion, while PostBank Uganda, now operating as Pearl Bank, is set to receive Shs4.086 billion.
Minister Musasizi assured Parliament that Uganda’s economic outlook remains positive, noting that the economy is characterized by strong growth momentum, low inflation, stable financial markets, and improving external sector performance.
“Going forward, the Ministry remains focused on addressing emerging risks, including fiscal pressures, while sustaining the gains achieved under its core mandate of sound economic management,” he said.
