Aminata & Sons (SL) Limited has issued a clarification regarding recent media reports and public discussions surrounding its proposal to the Government of Sierra Leone, through the Ministry of Trade, for a temporary three-year tax deferment linked to the expansion of its downstream petroleum infrastructure.

The company said some of the reports have misrepresented the intent and scope of its proposal, stressing that the request is aimed at strengthening fuel security, expanding storage capacity, improving market stability, and supporting long-term national revenue growth.

According to the company, the proposal is not a tax waiver but a deferment, which does not cancel tax obligations but only postpones payment for a defined period. It noted that the temporary measure would enable it to complete capital-intensive infrastructure expansion while maintaining operations, protecting working capital, and meeting debt obligations from its initial investment cycle.

Aminata & Sons disclosed that between 2020 and 2023, it invested approximately USD 20 million in phase-one downstream petroleum storage infrastructure in Sierra Leone, including facilities at Cline Town and the Kissy Terminal. The company said the investment was financed largely through shareholder equity and commercial loans without government tax incentives.

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The company’s Chief Executive Officer, Mr. Mohammed Turay, explained that loan repayments and amortization obligations have now become due, making operational flexibility necessary to sustain ongoing investments and fuel imports.

Since beginning operations in Sierra Leone in 2024, the company said it has contributed to improved fuel availability, job creation, and market stability, adding that it contributes an average of USD 6 million annually to the national revenue basket. It further stated that about 95 percent of its workforce is Sierra Leonean.

On its proposed expansion plan, Aminata & Sons said it intends to add 25,000 metric tons of storage capacity, representing an estimated USD 18 million Phase II investment. This would increase total storage capacity from about 19,500 metric tons to approximately 45,000 metric tons, while also improving the supply of different petroleum products, including Jet Fuel and Heavy Fuel Oil.

Mr. Turay stated that the proposed deferment would provide the financial flexibility needed to complete the expansion without disrupting fuel imports or compromising national energy security. He added that any short-term reduction in revenue would be offset by long-term gains in economic activity, employment, and future tax contributions.

The company also addressed public commentary regarding its operations and industry relations, stating that it has not made any claims accusing other Oil Marketing Companies (OMCs) of creating artificial shortages or operating as a cartel. It described such reports as misquotations that do not reflect its official position.

Aminata & Sons further emphasized that it is a Pan-African petroleum company with over four decades of industry experience and operates in Sierra Leone as part of a broader regional network.

Reaffirming its stance, the company said its request is strictly focused on infrastructure expansion and sector stability, not permanent tax relief. It reiterated its commitment to regulatory compliance, transparency, responsible investment, and supporting Sierra Leone’s long-term energy and economic development.