64 years of Independence: President Museveni recounts Uganda’s economic recovery, sets sights on further transformation

What the report says

President Yoweri Kaguta Museveni used Uganda’s 64th Independence Day commemoration on October 9, 2026, to revisit the country’s economic path since the NRM government took power in 1986 and to outline priorities for the next phase of growth. The remarks, delivered virtually from State House, Entebbe, focused on recovery, industrialisation, value addition and building household wealth. Watchdog Uganda reported that the celebrations carried the theme “Embracing Our Sovereignty with Hope and Visionary Leadership.”

Museveni said Uganda’s economy had expanded from about USD 3.9 billion in 1986 to roughly USD 69.3 billion, and projected further growth to nearly USD 74 billion by June 2027. He attributed the earlier economic decline to years of instability and the collapse of key sectors, then described a staged recovery strategy that included restoring production, diversifying exports, and expanding processing of agricultural goods such as coffee, tea, cotton, milk and fruit. He also said more progress was needed in turning these products into higher-value goods rather than exporting them in raw form.

The president framed value addition as central to keeping more earnings in Uganda and creating jobs, noting that processing and branding can capture more of the final market price. He also pointed to science- and technology-based production, including electric vehicles and pharmaceuticals, as part of a knowledge economy strategy. In addition, he identified transport bottlenecks, including traffic congestion and reliance on roads for cargo and fuel movement, as challenges the government aims to address through rail and pipeline projects. As background, Uganda has long sought to expand industrial capacity and reduce dependence on primary commodity exports.