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The Director General of the National Petroleum Regulatory Authority, Brima Baluwa Koroma, has clarified the reason for the different prices between the government and the private sector of petroleum products across the country.
Koroma made this clarification while speaking during the government’s weekly press conference at Miatta Conference Centre, Freetown.
According to Koroma, the recent reduction in pump prices is due to the government policy reforms. He stated that the government established a price ceiling while encouraging open market competition, which has left dealers to voluntarily lower their prices, adding that the NPRA has committed to staying out of pricing interference, allowing competition to flourish as intended.
He also spoke about the new NPRA Act, which he said empowers the Authority to maintain the government’s strategic fuel stock. He disclosed that due to the new legislation, the country now holds petroleum reserves that can last six to seven weeks, a record in the nation’s history. The law also mandates that licensed operators must maintain a minimum stock balance or risk losing their licenses, ensuring better preparedness and accountability in the sector.
Congratulations to papa government but why the same government can not the same thing in other business area, for example bike price, spare parts and many more if this same system are in other business line this country will grow.
You are too quick to believe.
Bra the ruling govt. just believe sa any body wa no d part of den system na idiot.
Den d watch we day tem, n lie pa we.
Jst becoz den d get excess percentage mek den no wan put d price don..
Nothing last forever
Why transport fare still high 🤔
This is a baseless assertion , if hat he said is true then where is the competition? Because as said competition is where there are varying prices to attract customers or consumers , but where is this variation ? Had it not been the pressure from Edmond Abu junior , the prices would have remained as they were before now.
Mr koroma should be ashamed of this flimsy pronouncement , because they were publishing reviewed prices for every decrease and increase in cent per barrel of fuel , why had that stopped ?
This is a heartless carelessness on the side of the regulators for the poor citizens.
Mr koroma should go back to the drawing board and revisit his assignment , as his actions leaves much to be thought of .
Absolutely true Sir
Mr koroma, please tell us what a competition is ? The present situation is disgusting and painful , and it’s a burden on us as road users, please have a sense of reflection and be mindful of the fact that not all hands are equal . And the exact wording for this present situation is wickedness to the highest level . Can you kindly retrospect the days that prices were intermittently changing and your pricing formular that you were regularly publishing? not all sierra Leoneans are gullible. Do something worth listening .