The Executive Chairman of the Petroleum Regulatory Agency (PRA), Brima Baluwa Koroma, has assured the general public that there will be no increase in the pump price of fuel products in Sierra Leone this January.
He was addressing a press conference on Tuesday at the PRA’s Board Room at Tower Hill, in Freetown, where he noted that since 2018 the PRA had recorded a revenue of Le473 billion to over Le1 trillion (old Leones) in 2023.
The PRA Executive Chairman also disclosed that PRA had recorded an increase in the number of fuel stations countrywide from 202 fuel stations in 2018 to 418 in 2023 with Port Loko District recording the highest in the country.
Brima Baluwa Koroma stated that fuel coming into Sierra Leone had also increased from 385, 000 metric tons in 2018 to 525, 000 metric tons in 2023. He added that the Government of President Julius Maada Bio had established a reserved storage of 10, 000 metric tons for any external shocks.
It could be recalled that the Petroleum Regulatory Agency was established by an Act of Parliament (PRA Act of 2014) to grant licenses and regulate the petroleum industry in Sierra Leone.