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MUSEVENI COMMENDS USE OF FINITE RESOURCES FOR DURABLE DEVELOPMENT IN EQUATORIAL GUINEA

Monday, 28th August 2017
PRESIDENT MUSEVENI (LEFT) ADDRESSING THE PRESS IN MONGOMO. ON THE RIGHT IS PRESIDENT TEODORE OBIANG NGUEMA MBASOGO

President Yoweri Museveni has commended Equatorial Guinea for using its finite resources to build durable development infrastructure and enhance human resource development saying African products have been used to add value to the African people.

The President was speaking during a joint Press Conference with his host President Teodore Obiang Nguema Mbasogo at Mongomo Hotel at the end of his four-day state visit to the Republic of Equatorial Guinea.

"I congratulate President Obiang Nguema on the right decision of not wasting gas by flaring it. He took a decision that it is madness to destroy part of your natural resource. All the gas must be used by liquidifying for sell or for electricity," the President said.

President Museveni thanked his host for arranging a working tour for his delegation that saw him visit various oil and gas projects, maritime ports, recreational parks and the infrastructure development in the new city of the future in Djibloho. He also hailed the people of Equatorial Guinea for conserving their natural forests that he described as gold mines that attract high value tourism. He described the country as the cradle of bantuism saying West Africa is where Bantu go for African pilgrim of heritage and language.

President Obiang Nguema Mbasogo said Museveni is the first Uganda President to visit his country and that despite not going to many places, he dedicated three days to Equatorial Guinea.

President Obiang Nguema said the quality of the person of President Museveni is a rare and yet great quality for the continent and humanity.

"The quality of the person of the president Museveni, we find few on the continent. A very good leader, pan Africanist who looks for the sovereignty of the people of Africa. Without the Intention of minimizing rate of other leaders on the continent, we need more leaders with the qualities of President Museveni to pacify Africa," he said.

He said, it will be the first time that Equatorial Guinea will be sharing experiences with Uganda in the areas of oil and gas saying while there are many pitfalls, it is important to learn and agree with exploration companies to avoid selling cheaply.

On how he has managed to turn what is described as the oil curse into a blessing for his people, President Obiang Nguema said the ugly term, 'curse' is only used by exploiters and that oil is black gold and cannot be referred to as a curse.

"Like Honey, Oil and gas attracts all and sundry. Petroleum or black gold is never going to be a curse. How can a curse bring so much transformation and development to a nation. Only those seeking to have the wealth for themselves wish that it is a curse for others," he said.

President Obiang Nguema Mbasogo said Equatorial Guinea's development level is a huge blessing, emerging from one of the least developed countries on the continent to the third, whose development is unprecedented.

Initially, the two leaders witnessed the signing of a memorandum of understanding between the two countries (MOU attached here) in which the two countries agreed that both will be participating in hydrocarbon Events, starting with the upcoming 3rd Uganda International Oil and Gas Conference scheduled for end of September 2017.

They also committed to sharing knowledge and experience in the field of oil and gas. President Museveni also pledged to appoint an Ambassador to Equatorial Guinea to strengthen cooperation.

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