NPRA Baluwa Koroma Showcases Sierra Leone’s Downstream Potential
On Friday, August 22, 2025, at the Westin Yokohama Hotel, Japan, the NPRA Boss displayed Sierra Leone’s dedication to attracting foreign investment. Koroma’s presence and his insights into the downstream petroleum sector were pivotal, underscoring not only the strategic importance of this industry for Sierra Leone, but also the country’s commitment to fostering an environment conducive to investment.
The TICAD (Tokyo International Conference on African Development) 2025 conference seeks to strengthen partnerships between Japan and African nations through various developmental avenues. The event officially kicked off with an opening plenary session led by H.E. Ishiba Shigeru, the Prime Minister of Japan, who emphasized Japan’s ongoing commitment to supporting Africa’s sustainable development initiatives.
During his address, Director General Koroma laid out the promising landscape for investment in Sierra Leone’s downstream petroleum industry, which includes refining, distribution, and marketing of petroleum products. He stated, “The establishment of the Sierra Petroleum Company will serve as a trading outlet for the government—this is a critical step toward ensuring that we maximize our national resources while creating opportunities for private sector participation.”
Koroma emphasized that the vision for Sierra Leone’s petroleum sector transcends mere attraction of investment—it is about building a robust, sustainable industry aligned with the government’s broader economic goals. He elaborated, “We recognize that the downstream industry is not only a compelling place for investment, but also vital for the nation’s energy needs and economic growth. By actively dismantling bureaucracy and barriers that stifle investment, we aim to promote scale and sustainability within our industry.”
Throughout the discussions at TICAD 2025, Koroma highlighted several key initiatives that the NPRA is championing to enhance the investment climate. These include streamlining regulatory processes, enhancing transparency, and engaging stakeholders to create a more conducive business environment. “By reducing the layers of bureaucracy, we can facilitate quicker decisions and foster a stronger partnership between the government and potential investors,” he explained.
The Director General’s advocacy for a vibrant downstream petroleum sector resonates with the Sierra Leonean government’s intention to utilize its natural resources to fuel socio-economic development. The significance of the African market as a growth frontier was palpable during the conference, with numerous representatives from various sectors seeking pathways to collaborative growth.
The discussions also touched upon promoting renewable energy alternatives within the context of the petroleum sector’s evolution. Koroma asserted that, while the focus remains on downstream activities, there is a recognition of the global shift towards cleaner energy. “Our strategy includes diversifying our energy portfolio, which not only caters to current demands, but also aligns with international sustainability commitments,” he remarked.
Sierra Leone’s participation in TICAD 2025 has indeed been a strategic move, showcasing the nation’s readiness to engage with global partner’s eager to invest in promising sectors. Koroma’s dialogue at the conference resonated with many attendees, showcasing Sierra Leone as a competitive destination for foreign direct investment in the African continent.
As he concluded his presentation, Koroma urged prospective investors to consider the long-term advantages of investing in Sierra Leone’s petroleum sector. He noted that with the government’s proactive stance and streamlined regulations, there has never been a better time to engage in the Sierra Leonean market. In his words, “This is a unique opportunity for investors who wish not only to be part of a burgeoning industry, but also contribute to the socio-economic upliftment of our nation.”
The conversation surrounding the potential of Sierra Leone’s petroleum sector at TICAD 2025 attracted considerable interest, creating a platform for future collaborations and investments. As the conference progressed, it became evident that Sierra Leone, under Koroma’s guidance, is positioning itself as an attractive hub for investment, aiming to harness its natural resources sustainably while fostering economic resilience.
Brima Baluwa Koroma’s impactful presentation at TICAD 2025 marks a notable milestone in Sierra Leone’s journey toward realizing its economic aspirations through strategic investments in the petroleum sector. With such proactive engagement on the international stage, Sierra Leone signals to the world that it is open for investment and ready to embark on a transformative path that aligns with both local objectives and global standards.