Nairobi, Kenya — President William Samoei Ruto has revealed details of a candid conversation with Uganda’s President Yoweri Kaguta Museveni on the management of oil resources, praising him for resisting pressure to take what he described as “easy choices.”
Speaking at the opening of the Africa We Build Summit 2026 in Nairobi, President Ruto told delegates that Museveni had warned against the dangers of mismanaging Africa’s natural wealth.
“I thank President Museveni for refusing easy choices,” Ruto said. “He could have allowed Uganda’s oil to go the way others wanted, but he stood firm.”
Ruto went on to recount Museveni’s remarks during their discussions, quoting him directly: “He told me that if some people were given the chance, they would sell the oil at a throwaway price and go buy perfume.”
He added: “President Museveni called me and said he wanted to buy 50 shares in the Kenyan pipeline and did not mind the price, President Museveni, Just as you invested in the pipeline, Kenya will invest in your refinery and in the shared future of our resources.”
The comment drew attention from delegates, highlighting long-standing concerns among African leaders about the exploitation and undervaluation of the continent’s natural resources.
Call for value addition
Ruto used the anecdote to reinforce his broader message on the need for Africa to control its resources and prioritise value addition.
“We cannot continue to export raw materials and import finished products,” he said. “Africa’s place in global trade is defined by a structural imbalance that requires our urgent attention.”
He warned that reliance on external financing continues to limit Africa’s development ambitions.
“As the saying goes, he who pays the piper calls the tune,” Ruto added, noting that foreign capital often comes with conditions that may not align with Africa’s long-term interests.
Push for regional energy solutions
The Kenyan leader also pointed to ongoing regional efforts to strengthen energy security, revealing plans by East African countries to explore a joint oil refinery at Tanga Port in Tanzania.
In a direct message to Museveni, Ruto signaled Kenya’s commitment to collaboration in the sector.
“Mzee, I want to assure you that the same way you invested in Kenya Pipeline, Kenya is going to invest in your refinery and the future of our resources together,” he said.
Summit focus
The two-day summit, hosted by the Africa Finance Corporation in partnership with the African Union Commission and the Government of Kenya, has brought together Heads of State, ministers, financiers, and industry leaders.
Other high-profile participants include Nigerian industrialist Aliko Dangote and AFC President Samaila Zubairu.
In his remarks, President Museveni emphasized the role of domestic capital in driving Africa’s development, pointing to pension funds as a largely untapped resource for financing infrastructure.
From rhetoric to action
Kenya’s Prime Cabinet Secretary Musalia Mudavadi said the summit aims to move beyond discussion to concrete outcomes.
“This is a profound opportunity to turn potential into action by forging partnerships, unlocking finance, and building continental synergy,” he said.
By the close of the summit, organisers expect the signing of key infrastructure deals, including regional corridor agreements and the launch of an Africa Infrastructure Investment Pipeline for 2026–2030.
Analysts say Museveni’s remarks, as relayed by Ruto, underscore a broader shift among African leaders toward resource nationalism and value retention—an approach increasingly seen as critical to the continent’s industrialisation agenda.
