During a recent civic engagement at the Kono District Council Hall, organized by the Ministry of Information and Civic Education (MoICE), the Director General of the National Petroleum Regulatory Authority (NPRA), Baluwa Koroma, highlighted significant progress in Sierra Leone’s petroleum industry. His remarks underscored the government’s commitment to liberalizing and expanding the sector, a move that has yielded impressive results over the past five years.
DG Baluwa Koroma revealed that liberating the petroleum industry was the first directive he received from His Excellency President Dr. Julius Maada Bio upon assuming his role. Since then, the sector has experienced notable transformation. Previously, Sierra Leone had only two players operating within the industry. Today, that number has grown to nine, indicating a more competitive environment that benefits consumers through better services and prices.
In terms of consumption, Sierra Leone’s fuel demand has surged from 345,000 metric tons to over 550,000 metric tons annually. This increase reflects economic growth and improved transportation infrastructure. Storage capacity has also expanded significantly, from 124,000 metric tons to 237,000 metric tons, ensuring more stockpiles are available to meet the rising demand.
The number of gas stations across the country has more than doubled, from 220 to 510, making fuel more accessible to Sierra Leoneans. Specifically, in Kono District, the number of gas stations has nearly doubled in five years, increasing from 17 to 35. This expansion not only enhances access, but also stimulates local economic activities.
On the issue of fuel availability and affordability, DG Koroma emphasized improvements in import timelines. Sierra Leone used to import fuel every ten days, leading to frequent shortages and price volatility. Currently, fuel is imported every 42 days, indicating a more stable supply chain, which helps stabilize prices and makes fuel more affordable for the average citizen.
Overall, DG Koroma’s presentation paints a picture of a rapidly developing petroleum sector that is increasingly benefiting Sierra Leoneans, especially residents of Kono District. The ongoing reforms and investments are expected to continue driving growth, ensuring reliable fuel supply and fostering economic development across the country.
