Director General of the National Petroleum Regulatory Agency (NPRA), Brima Koroma, has revealed that Sierra Leone’s fuel sector now contributes over 12 percent to domestic revenue, making it one of the country’s most significant sources of income.

Speaking at the Ministry of Information and Civic Education’s weekly press briefing in Freetown on July 15, Koroma said the sector’s growth is a direct result of deliberate regulatory reforms, infrastructure investments, and increased transparency in petroleum management.

“From 2018 to now, the petroleum sector has seen consistent year-on-year growth, even during global economic disruptions,” he said. “Fuel is no longer just a consumption item, it is now a key economic driver, accounting for over 12 percent of national revenue.”

He recalled that just five years ago, the industry was marred by instability, with stock levels often dipping to less than 10 days, leading to widespread panic buying, black market trading, and long queues.

“Today”, he said, “Sierra Leone maintains daily fuel stock stability, managing up to 278,000 litres per day and meeting consumption demands of over 1.3 million litres.”

The NPRA chief credited new licensing policies and legal reforms under the Petroleum Regulatory Act for this transformation. “Every importer is now required to maintain at least 25,000 metric tons of reserve stock. Failure to comply results in suspension,” he stated.

Koroma also announced that the number of licensed fuel importers has grown from three dominant players to over 10, including indigenous and youth-led businesses—creating competition, jobs, and broader economic participation.

He, however, pushed back against what he called “misinformation and sentiment-driven criticism” that undermines public trust. “Some commentators twist facts to cause panic. But the data does not lie. This sector is performing and contributing significantly to national development,” he emphasized.

Addressing fuel price concerns, he explained that the current pump prices—ranging between Le 26 and Le 28 per litre—are determined by global supply factors and foreign exchange conditions, not local manipulation.

While acknowledging challenges such as outdated infrastructure and over reliance on imports, Koroma insisted that the NPRA remains committed to building a modern, transparent, and economically vital petroleum sector.

“We have gone from scarcity to stability, from opacity to accountability. The petroleum sector is now a revenue pillar for Sierra Leone—and we intend to build on that momentum,” he added.