Freetown, SIERRA LEONE – In response to the growing shortage of petroleum products in the country, Baluwa Koroma, the Chairperson of the Petroleum Regulatory Agency (PRA), confirmed on Tuesday the arrival of 10,000 tons of petrol. This move aims to address the scarcity and alleviate concerns among consumers.
The shipment, which arrived at the anchorage on Tuesday morning, was scheduled for offloading and distribution to various petroleum stations across the nation on Wednesday.
During a briefing at the Ministry of Foreign Affairs, Mr. Koroma reflected on the agency’s financial contributions to the government. He stated that in 2018, the PRA generated and remitted 476 billion Leones as revenue to the government. Last year, in 2022, the agency presented 800 billion Leones, constituting a 12% contribution to the country’s domestic revenue.
Looking ahead, Mr. Koroma announced that the agency aims to generate revenue at a maximum rate of one trillion Leones in December 2023.
Addressing the current fuel scarcity, Mr. Koroma disclosed that the National Petroleum (NP) has already acquired 10,000 tons of fuel, and between the 17th and 20th of December 2023, an additional 12,000 metric tons of petroleum will be imported to mitigate shortages. Furthermore, in the same period of December, an additional 12,000 metric tons of diesel will be imported to meet consumer demand.
Conex Petroleum Sales Company is set to import 4,000 tons of petroleum from Tuesday night to Wednesday morning, and from the 11th to the 15th of December, an additional 5,000 metric tons of petroleum is expected to be imported. Mr. Koroma assured that by the Christmas season, a total of 29,000 metric tons of petroleum will be available to meet the country’s demand. AJ/7/12/2023