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Uganda: The Issue of High Commodity Prices Is Small, We Are Going to Handle, Says Museveni

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President Museveni has said the issue of high commodity prices is small and will soon be dealt with easily.

“I have fought bigger problems like going to war without ammunition, so this high commodity prices is not as big but what I don’t want to happen is the lack of food,” Museveni said while delivering the State of the Nation Address on Tuesday.

The president said having done a careful analysis of the situation, government has decided to avoid tax waivers and provision of subsidies but rather adopt other strategies.

He noted that one of the strategies is talking to global actors like Russia and the US.

“I have contacted some of the actors. I am glad H.E. Biden is going to Saudi Arabia, to meet the Crown Prince to get OPEC to pump more petroleum out of the ground. That would definitely help. Also, the Chairperson of the AU,H.E. Mack Sall, met H.E. Putin in Sochi, Russia to ask him to assist in getting the wheat of Ukraine out of the Ports of Odessa and he has also talked to the Europeans to stop sanctioning wheat from Russia and fertilizers because Africa needs them. This is one of the correct ways,” Museveni said.

“This is one of the correct ways. We shall use diplomacy to solve problems caused by these people.”

He noted that the other solution is ensuring Uganda gets her own substitutes for bread and wheat including cassava and banana flour.

“The other one is to get our own substitutes – cassava and banana flour for bread and our own sunflower, soya beans oil as we wait for our more quantities of palm oil from Sango Bay, Mayuge, Buvuma, Maruzi and Bundibugyo.”