By Sulaiman Jalloh

Brima Baluwa Koroma, Director General of the National Petroleum Regulatory Authority (NPRA), has reported significant progress in Sierra Leone’s downstream petroleum sector, citing expanded storage capacity, increased market competition, and enhanced energy security as key achievements over the past five years.

Speaking during the government’s weekly press briefing on Tuesday, Koroma announced that the country’s petroleum storage capacity has more than doubled now standing at 278,000 metric tons, a dramatic improvement from previous levels that could support only two weeks of national supply. This expansion has eliminated the chronic delivery disruptions and import bottlenecks that once hindered the sector, he noted.

Koroma highlighted that the number of licensed petroleum importers has grown from just three to ten, fostering a more competitive environment. Today, competition is driving stability, he said. The market is more resilient, and our fuel supply chain is stronger than ever.

The Director General also revealed that the petroleum sector now contributes approximately 12% of Sierra Leone’s domestic revenue, underscoring its increasing strategic importance to the national economy.

A major milestone, Koroma emphasized, is the establishment of strategic fuel reserves, enabled by the recently enacted NPRA Act. The legislation empowers the Authority to manage national reserves ensuring, for the first time, that Sierra Leone can sustain fuel consumption for six to seven weeks. This is a landmark achievement in our energy security efforts,” he declared.

Under the new law, all licensed petroleum operators are mandated to maintain a minimum stock threshold. Non-compliance could result in license revocation an enforcement measure designed to uphold reliability and accountability in the sector.

Addressing recent reductions in pump prices, Koroma attributed the change to structural reforms introduced by President Julius Maada Bio’s administration. The government has instituted a price ceiling while promoting open competition among fuel dealers, we’ve seen prices drop because dealers are responding to market forces, he said. The NPRA will not interfere with pricing our role is to ensure a level playing field and effective regulation.

Koroma concluded by reaffirming the NPRA’s dedication to transparency, fair market practices, and the continued development of Sierra Leone’s energy infrastructure, we are building a sector that contributes meaningfully to the economy, strengthens national resilience, and ensures long-term benefits for all Sierra Leoneans, he stated.

Copyright –Published in Expo Times News on Monday,21th July, 2025 (ExpoTimes News – Expo Media Group (expomediasl.com)