Kampala – The National Petroleum Fund reported a significant increase in its assets, reaching UGX 212.6 billion (approximately US$57 million) as of the end of June. Finance Minister Maria Musasizi attributed the growth to higher oil revenues from the newly operational Tilenga fields and prudent fiscal management. “Our first oil is coming online as scheduled, and the fund’s expansion reflects both the robustness of our production and the disciplined reinvestment strategy,” Musasizi told reporters. The fund, which is earmarked for infrastructure, health and education projects, is expected to finance the construction of a new highway linking Kampala to the northern region and to support the expansion of rural electrification programs.
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