… Aims To Generate Over NLe 2 Billion In 2025
The National Petroleum Regulatory Authority (NPRA) has announced a significant increase in annual revenue, highlighting the growing importance of Sierra Leone’s petroleum sector to national economic growth.
NPRA Director General, Brima Baluwa Koroma, disclosed this development following the receipt of a prestigious international award from the Africa Business Leadership Center. He revealed that the petroleum sector now contributes over 12% to the country’s domestic revenue, with annual figures climbing from NLe 480 million to NLe 1.7 billion in 2024.
Looking ahead, the Authority has set an ambitious target to exceed NLe 2 billion in revenue by 2025. “The number of petroleum importers has increased from two to seven,” said Koroma. “In Moyamba alone, annual consumption is now 20 million litres, primarily due to mining activities.” He added that the diversification of importers points to a more competitive and resilient supply chain, while high fuel usage in Moyamba underscores mining’s role as a key driver of demand.
These developments mark a dynamic shift in Sierra Leone’s energy landscape, with the NPRA playing a central role in regulation and strategic growth.
Koroma, who was appointed by President Julius Maada Bio, also noted improvements within the sector since taking office. Speaking at the Moyamba Civic Series, where he joined other government officials, he emphasized progress in reducing fuel supply delays and maintaining steady availability of petroleum products nationwide.
“System reforms have been implemented to enhance efficiency and improve responsiveness to sector challenges,” he stated. “We are also working to increase public awareness of how the petroleum industry operates.”
The Moyamba Civic Series provided a platform for citizens to engage directly with officials and receive updates on sector management and its impact on the economy.
Fuel prices in Sierra Leone have remained stable since November 2024. According to the Petroleum Regulatory Agency, petrol stands at NLe 27.30 per litre, diesel at NLe 27.40, kerosene at NLe 25.87, and fuel oil at NLe 25.55.
In a personal note shared on social media, Director General Koroma expressed gratitude for his recent international recognition. “This award is dedicated to my boss, His Excellency the President, who gave me the opportunity to serve and demonstrate my abilities,” he wrote.
