Baluwa Allays Fears Of Sierra Leoneans
By: Alimatu Kargbo
The government has assured the public that Sierra Leone’s fuel supply remains stable despite changes in global crude oil prices, with authorities expanding national storage capacity to prevent shortages.
Speaking at the conference held by the Ministry of Information and Civic Education, Baluwa Koroma of the National Petroleum Regulatory Authority (NPRA) explained that the country’s fuel pricing and supply are heavily influenced by developments in the international oil market.
According to Koroma, Sierra Leone consumes an average of about 1.5 million litres of fuel daily, making a steady supply essential for transportation, businesses and other economic activities.
He noted that petroleum products used in the country are imported because Sierra Leone does not produce crude oil. As a result, the nation depends on international suppliers from regions such as Saudi Arabia, Kuwait and other Gulf countries.
Koroma explained that crude oil makes up about 60 percent of the final cost of fuel, while the remaining portion covers transportation, commercial levies, distribution costs and dealer margins before the product reaches consumers.
He added that when global crude oil prices increase or decrease by around 10 percent, the final pump price usually changes proportionately, because the cost of the raw material shifts in the international market.
The NPRA official also highlighted the effect of global crises on fuel prices. He said international tensions and conflicts can quickly influence oil prices worldwide, which in turn affects importing countries like Sierra Leone.
To strengthen fuel security, Koroma disclosed that the government has significantly increased national fuel storage capacity.
According to him, the country’s storage capacity has been expanded from a 10-day supply to about 42 days, a move aimed at preventing fuel shortages and eliminating long queues at filling stations.
He said the expansion allows the country to maintain larger fuel reserves while ensuring frequent replenishment of petroleum products in the market.
Koroma further explained that petroleum shipments arrive in large quantities, sometimes ranging from several thousand litres to much larger consignments, depending on demand and market needs. Regular replenishment, he said, helps maintain steady supply across the country.
Despite the challenges posed by global oil market fluctuations, he expressed confidence that Sierra Leone is managing the situation well.
“We are working to ensure that fuel supply remains stable and that the country maintains competitive prices within the region,” he said.
Koroma also encouraged the public to rely on accurate information from relevant authorities, including the Ministry of Trade, Ministry of Finance, Ministry of Information and the National Petroleum Authority, regarding developments in the petroleum sector.
He emphasized that continued cooperation between government institutions and regulators will help sustain stability in the fuel market and protect consumers from unnecessary disruptions.
