Uganda: Members of Parliament (MPs) Raise Alarm Over Falling Shilling, Escalating Fuel Costs

The Leader of the Opposition, Hon. Joel Ssenyonyi, has raised concern over the continued depreciation of the Ugandan shilling against the US dollar, warning that the weakening currency is likely to increase the cost of doing business, particularly for importers who rely on foreign exchange to pay for goods and services. Ssenyonyi alluded to the Central Bank Governor’s opinion during the House consideration of the Protection of Sovereignty law that sought to regulate and register agents of foreign interests, and control foreign funding to prevent external interference in national policy and politics. ‘We are going to have a substantial depreciation of the Uganda currency because of our balance of payments which are to be greatly destabilized by the sovereignty bill,’ Ssenyonyi quoted the Governor, Ating-Ego while appearing before the joint committee. “It is important that government tells us what they are doing about this situation because it is biting hard,” Ssenyonyi said during House sitting on Tuesday, 06 October 2026. The LOP also raised concerns about skyrocketing prices of fuel across the country, saying that fluctuating prices of a liter of petrol and diesel between Shs6,800

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