Revenues generated from Uganda's oil industry will be used to develop the national infrastructure and human resource capacity, president Yoweri Museveni has stated.

Speaking at a two-day seminar organised by Uganda, alongside Norway and the African Development Bank, Mr Museveni explained that a petroleum fund would be established so as to utilise oil revenues properly, including using them to fund crucial public investments.

He told the seminar: "Oil revenues will not be used for consumption and importing perfumes, wines, cars and paying salaries. We shall use it as a finite resource to create infinite capacity for Ugandans. This is our core view in building long-term benefits from the oil."

At the same time, Ugandan energy minister Daudi Migereko moved to assure communities close to oil producing areas that they will benefit from the revenue generated by the resources and will play a crucial role in the success of the burgeoning industry.

The comments come on the back of a significant discovery of new oil reserves in the country's Albertine basin.