desirable revenue management practices for a sustainable oil and gas industry in uganda.

Description

This study was aimed at examining the desirable revenue management practices for a sustainable oil and gas industry in Uganda which involved studying the relationship between transparency and accountability, tax administration and contract negotiation as well as citizens’ involvement in the Oil sector and sustainability of the sector. The researcher adopted a descriptive survey research design to examine perceptions of 48 respondents drawn from the Oil Governance and Management class of UTAMU, Bank of Uganda and the Ministry of Energy and Mineral Development who were sampled by convenience and by stratification. Descriptive analysis was used to establish the distributions of the sample on demographic variables of age, sex, level of education, and occupation while the Pearson Rank Correlation in the MS Excel programme was used to measure the degree of association between the two variables. Additionally, regression analysis was also run using number analytics software to determine the strength of the model. The study established that while transparency and accountability is a major contributor to sustainability development of the oil sector, it has a less positive marginal effect compared to tax administration and contract negotiation, yet a better determinant of sustainability than citizens’ involvement. Altogether, the study established that the marginal effect of instituting proper tax administration and contract negotiation processes will have a more positively significant effect to the sustainability of the oil resource while citizens’ involvement may not have a significant effect. Since the Government of Uganda holds all oil, gas and sub-soil mineral assets in trust for the nation, care must be taken in formulating taxation policies and in negotiating contracts pertinent to oil and gas exploration and development in the country. It may also consider the Extractive Industries Transparency Initiative (EITI) because it provides avenues for addressing the general failure to account, transform resource wealth into sustainable development, i.e. the resource curse and the associated governance problems in the extractive sector.