Will President Museveni take President Magufuli’s advice?

Tanzanian President John Magufuli has told Ugandan President Yoweri Museveni not to focus on short-term gains.

The Tanzanian President was speaking in terms of taxing oil companies. He informed his compatriot that the vast tax placed on the oil companies was delaying the oil pipeline project.

This comes after plans to sign the final investment decision collapsed when Tullow Oil failed to sell 21.5% of its stake for U.S.$900 million to its partners – France’s Total E&P and China’s CNOOC last week.

President Magufuli made this known at the just concluded Tanzania-Uganda Business Forum in Dar es Salaam which he hosted.

“We are late. We are still sleepy,” said Magufuli.

He said Uganda should sacrifice some of the short-term gains for the national benefits.

“The Uganda Revenue Authority officials should not delay the project for the benefit of a large population”, he said.

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