Bio’s Govt Reduces Price Of Rice

Freetown, Sierra Leone – January 6, 2025

In a significant move to alleviate economic pressures on citizens, the Government of Sierra Leone (GoSL) has introduced a new pricing formula for rice, the nation’s staple food.

This decision emerged from a meeting involving the Chief Minister, the Ministries of Finance, Agriculture and Food Security, Trade and Industry, the Majority Leader in Parliament, and major rice importers.

As a result of this new formula, the wholesale price for a 50 kg bag of parboiled rice will undergo the following reductions:

– Effective January 7, 2025: reduced to NLe 840

– Effective February 14, 2025: further reduced to NLe 799

The Minister of Trade and Industry emphasized the government’s commitment to supporting rice importers through policies and incentives aligned with the Feed Salone agenda.

This initiative aims to mitigate the impact of global economic challenges on Sierra Leonean citizens.

The GoSL assures the public of its ongoing efforts to develop macro- and micro-economic policies that promote productivity, equity, and growth across all sectors. Additionally, similar pricing formulas are being considered for other essential commodities in collaboration with major importers.

The GoSL encourages all stakeholders to cooperate fully in implementing these changes and remains committed to monitoring the situation to ensure the intended outcomes are achieved.