In a short video posted on TikTok, Edmond Abu Jr., Executive Director of the Native Consortium and Research Centre, claimed that oil marketing companies in Sierra Leone are making huge profits on every litre of fuel sold.
According to him, before 2024, these companies were earning only Le1 profit per litre. He stated that the CIF (Cost, Insurance and Freight) price of fuel was Le18, the bulk trader price was Le21 and the transportation cost was Le1, bringing the total cost to Le22 per litre. Based on this calculation, he concluded that with a pump price of Le27, petroleum companies are making a Le7 profit per litre.
However, this assertion by Edmond Abu Jr. is not only misleading but also dangerously simplistic. His figures completely ignore critical elements of the regulated fuel pricing structure in Sierra Leone. The National Petroleum Regulatory Authority (NPRA) Act 2025, particularly Section 13(b)(ii), mandates the Authority to ascertain whether the displayed prices of petroleum products are consistent with the prescribed petroleum pricing formula. This formula includes essential components such as government levies, port and administrative charges, dealer margins, and other statutory costs.
When these additional obligations are rightly subtracted from the so-called Le7 “profit,” it becomes evident that there is little to no profit at all. In fact, in some instances, companies may be operating at a loss. By overlooking these facts, Edmond Abu Jr. is not just misinforming the public; he is using his lack of understanding to distort a highly sensitive national issue, even to the point of influencing or confusing decision-makers within Government.
Moreover, his failure to acknowledge that fuel pump prices are not arbitrarily set by marketing companies, but rather approved by the Petroleum Regulatory Agency under strict guidelines, further undermines the credibility of his claims. The pricing mechanism is responsive to international oil market trends and foreign exchange fluctuations; factors entirely beyond the control of local companies.
While he applauds newer entrants like Zala and Aminata for offering competitive prices, Edmond Abu Jr.’s narrative wrongly implies that other companies are overcharging consumers. This overlooks the fact that all companies are operating under the same regulatory framework and face the same market pressures. Any temporary price variation reflects operational flexibility or unique cost structures, not systemic exploitation.
His call for fuel prices to be reduced to Le22 or even Le15 per litre is not only unrealistic but dangerously irresponsible. Sierra Leone imports all of its fuel and reducing prices to such unsustainable levels would either bankrupt fuel suppliers or compel the Government to implement massive subsidies. Such a move would drain public resources and undermine essential sectors such as healthcare, education and infrastructure.
Though Edmond Abu Jr. has consistently positioned himself as an advocate for consumer welfare, advocacy must be grounded in facts and guided by a clear understanding of economic and regulatory realities.
Misrepresenting figures and ignoring legal and structural considerations does nothing to help consumers. Instead, it spreads confusion, raises false hopes and risks destabilizing a sector that is critical to national development.
What Sierra Leone truly needs is a fact-based and constructive dialogue on fuel pricing; one that balances consumer protection with economic sustainability and recognizes the full complexity of the petroleum supply chain