President Bio heaps praises on NPRA’s Outstanding Performance

Sierra Leone’s President Julius Maada Bio  last week stated that petroleum imports in the country had grown by an impressive 56% over the past year, in a significant address during the State Opening of the Third Session of the Sixth Parliament of the Second Republic of Sierra Leone on Thursday, August 7, 2025. This remarkable increase, the president said, comes amidst efforts to expand the nation’s petroleum storage capacity by 86%, now reaching a total of 250,000 metric tons. These developments, he said, are vital as Sierra Leone seeks to build a secure, competitive energy market that ensures citizens and businesses have access to affordable and reliable fuel.

The President’s speech, delivered at the Chamber of Parliament Building Tower Hill in Freetown, was underscored by the government’s collaboration with the World Bank to modernize the pricing formula for petroleum products, making it more transparent and responsive to fluctuations in global markets.

A key element of Sierra Leone’s evolving petroleum landscape is the establishment of the National Petroleum Regulatory Authority (NPRA). Strengthened by the NPRA Act of 2025, this new regulatory body is poised to ensure a reliable fuel supply, enhance infrastructure development, and foster fair competition among industry players. The President noted that the NPRA is critical in stabilizing the downstream petroleum sector, which has seen recent improvements due to enhanced governance and strategic oversight.

The government’s efforts have not gone unnoticed. The Civil Society Consortium on Petroleum and Industrial Relations, led by Alphonso Manley, has commended the progress made under President Bio’s leadership. Manley stated, “The gains in the petroleum sector are a testament to the effective management provided by the NPRA.” He praised the authority for its strong leadership, which he said has played a significant role in stabilizing the downstream industry and contributing to national development. The Consortium highlighted the importance of these reforms in fostering a competitive market environment that benefits consumers and investors alike.

Brima M. Baluwa Koroma, the Director General of the NPRA, echoed similar sentiments, emphasizing the agency’s dedication to supporting the President’s “new direction” agenda. He defined three core focus areas for the NPRA’s operations moving forward. “Firstly, we are committed to opening up the market space and restoring fairness in the industry, which will contribute to increased efficiency and transparency,” Koroma explained. “Secondly, the Government is focusing on initiatives to develop our petroleum industry infrastructure, we are encouraging investors to come to Sierra Leone and look at the possibility of resuscitating our Oil refinery, construction of tank farms across the regions, bulk transportation and retailing this is to enhance petroleum product security and affordability. The National Petroleum Regulatory Authority is a member of the World Petroleum Council (WPC) and The Africa Refinery Association (ARA). Finally, we want to ensure compliance with our petroleum laws and tax commitments.”

He conveyed that Sierra Leone was actively seeking to attract local and foreign investors to its downstream sector, aiming to demonstrate its potential as a viable investment destination.

Koroma also revealed that one of the government’s key initiatives includes revitalizing the nation’s petroleum industry infrastructure. This entails encouraging investment in various projects such as the resuscitation of existing oil refineries, construction of new tank farms across different regions, and enhancing bulk transportation and retailing capabilities. These improvements aim to ensure both petroleum product security and affordability in the long run. “Our commitment is to create a petroleum market that serves the needs of our people, ensuring they have the fuel necessary for their daily lives and economic activities,” he said.

The NPRA’s membership in international bodies like the World Petroleum Council (WPC) and the Africa Refinery Association (ARA) is indicative of its commitment to adhering to international standards and practices. This affiliation allows for knowledge sharing, capacity building, and collaborative opportunities with other nations facing similar challenges.

Moreover, Koroma affirmed the NPRA’s resolve to ensure strict compliance with the nation’s petroleum laws and tax obligations from industry operators. The framework established by the NPRA Act of 2025 allows for the licensing and regulation of all downstream petroleum activities in Sierra Leone, including importation, storage, transportation, retailing, refining, jetties, and bunkering.

The growth in petroleum imports and the expansion of storage capacity come at a crucial time as many Sierra Leoneans have been concerned about fuel accessibility and pricing volatility. The President’s address aims to alleviate these concerns, highlighting the government’s proactive approach to managing the country’s energy needs effectively.

The combination of increased imports, modernized pricing structures, and a robust regulatory framework holds the promise of reshaping the energy landscape in Sierra Leone, as the country moves forward. President Bio’s commitment to building a competitive energy market, coupled with the NPRA’s expansive vision, is expected to lead to significant advancements in the sector, ultimately benefiting the whole nation.