Aminata & Sons (SL) Limited has issued a detailed statement clarifying its proposed three-year tax deferment request to the Government of Sierra Leone, emphasizing that the proposal is aimed at strengthening national fuel security, expanding petroleum storage infrastructure and supporting long-term economic growth rather than seeking a tax waiver.
In a press statement issued in Freetown on Friday, 19th June 2026, the company said recent public discussions and media reports surrounding the proposal had not fully reflected the purpose, scope and national significance of the request.
The company stressed that the proposed arrangement is a tax deferment, not a tax waiver, noting that all tax obligations would still be paid but over a later period. According to management, the temporary deferment would provide the financial flexibility needed to complete major infrastructure projects, maintain fuel imports, preserve working capital and meet existing debt obligations arising from earlier investments.
Aminata & Sons disclosed that between 2020 and 2023, it invested approximately US$20 million in downstream petroleum storage facilities in Sierra Leone, including assets at Cline Town and the Kissy Terminal. The company stated that these investments were undertaken without government tax incentives and were largely financed through shareholder equity and commercial borrowing.
The company further revealed plans for a second phase expansion valued at approximately US$18 million, which would add an additional 25,000 metric tonnes of storage capacity. If completed, total storage capacity would increase from about 19,500 metric tonnes to 45,000 metric tonnes, significantly enhancing the country’s ability to store petroleum products and support future imports, including Jet Fuel and Heavy Fuel Oil.
Chief Executive Officer, Mohammed Turay, stated that the proposed deferment would enable the company to complete the expansion while safeguarding national energy security and ensuring uninterrupted fuel imports.
He maintained that while the deferment could result in a temporary delay in government revenue collection, the long-term benefits would include increased economic activity, job creation and higher future tax revenues.
Highlighting its contribution to the petroleum sector since commencing operations in Sierra Leone in 2024, Aminata & Sons said it has helped improve fuel availability, strengthen market stability and contribute an average of US$6 million annually to government revenue. The company also noted that approximately 95 percent of its workforce is Sierra Leonean.
Management further stated that its presence in the market has broadened competition in the downstream petroleum sector and helped reduce petroleum product shortages.
Addressing public discussions about its operations and ownership structure, the company reiterated that neither its CEO nor any member of its management team has ever accused any Oil Marketing Company (OMC) of creating artificial shortages or operating as a cartel. It described such claims as misrepresentations of its position and emphasized its commitment to maintaining cordial and professional relationships with industry stakeholders.
Aminata & Sons concluded by reaffirming that its request is based on infrastructure development, supply chain resilience and sector stability rather than permanent fiscal exemptions. The company pledged to continue operating in compliance with regulatory requirements while contributing to Sierra Leone’s energy security and economic development.
The statement comes as public debate continues over the proposed concession agreement currently before Parliament, with supporters arguing that the expansion could significantly strengthen the country’s petroleum storage capacity and fuel security in the years ahead.
PRESS STATEMENT
Aminata & Sons (SL) Limited Clarifies Position on Proposed Tax Deferment and
Petroleum Infrastructure Expansion Freetown, Sierra Leone Friday, 19th June 2026.
Aminata & Sons (SL) Limited has noted recent media reports and public commentary concerning its proposal to the Government of Sierra Leone, through the Ministry of Trade, for a temporary three-year tax deferment linked to the expansion of its downstream petroleum infrastructure.
Some of these reports have presented the proposal in ways that do not fully reflect the purpose, scope, and national importance of the request. The company therefore wishes to provide clarity and set out the facts.
The company emphasizes that the proposal is intended to strengthen fuel security, expand storage capacity, support market stability, and contribute to the country’s long-term revenue growth.
It is important to state that the request is not a tax waiver. A deferment does not cancel or forgive tax obligations; it only postpones payment for a defined period. Our position is that this temporary measure would enable us to complete capital-intensive infrastructure expansion, maintain operations, protect working capital, and meet debt obligations arising from our initial investment cycle.
Between 2020 and 2023, Aminata & Sons (SL) Limited committed approximately USD 20 million to phase-one downstream petroleum storage assets in Sierra Leone, including facilities at Cline Town and Kissy Terminal. According to our Chief Executive Officer, Mr. Mohammed Turay, this investment was undertaken without tax incentives from the Government of Sierra Leone and was financed largely through shareholders equity and commercial debt with loan amortization now falling due.
Our Track Record
Since commencing operations in Sierra Leone in 2024, we have contributed to improved petroleum product availability, local employment, market stability, and contribute an average of USD 6 million annually to the revenue basket.
We are proud that approximately 95% of our workforce is Sierra Leonean, and we have demonstrated significant expertise and logistical capacity to support continuity of petroleum products supplies.
Our presence in the market has helped broaden competition in the downstream petroleum sector and reduce petroleum products scarcity.
Our Proposed Expansion
We are seeking to expand our storage infrastructure by an additional 25,000 metric tons, representing an estimated USD 18 million Phase II investment.
This expansion would increase total storage capacity from approximately 19,500 metric tons to about 45,000 metric tons, improve the availability of different grades of petroleum products, and support future imports including Jet Fuel and Heavy Fuel Oil.
Our Chief Executive Officer, Mr. Mohammed Turay, stated that the deferment would provide the flexibility required to complete the expansion while preserving fuel imports, protecting national energy security, and allowing the company to service existing term loans without eroding working capital.
He added that any short-term delay in revenue would be outweighed by the broader medium- and long-term benefits of increased economic activity, job creation, and future taxable growth.
Public Clarity
We also wish to provide clarity regarding public discussions around our ownership, operations, and corporate conducts.
Aminata & Sons (SL) Limited is a Pan-African petroleum company with over four decades of experience in the sector and operates in Sierra Leone as part of its broader regional footprint.
We would like to further clarify that, the CEO or any team member, have never spoken negatively nor accused anyone or OMC of creating an “artificial shortage” or acting as a “cartel” in the industry. The statements are entirely misquoting and do not represent our views. We operate as a responsible institution with the highest regard for our industry peers.
For the avoidance of doubt, our request is based on infrastructure development and sector stability, and not on permanent fiscal exemption. Our objective is to invest, expand storage capacity, improve supply chain resilience, support national fuel security, and contribute to Sierra Leone’s long-term economic development.
The company remains fully committed to responsible investment, regulatory compliance, transparency, and sustainable development in Sierra Leone.
BY MANAGEMENT
Whatsapp: +232 74008214 | +232 78 138845
Email: finance.sl@aminatagroup.com
Email: marketing.sl@aminatagroup.com
Address: 18 Hamilton Lane Junction Hillside Bypass Road
Website: www.aminataliberia.com