NRA and PRA Warn Petroleum Operators of Revenue Obligations
Kadijatu Barrie The National Revenue Authority (NRA) and the National Petroleum Regulatory Authority (PRA) have issued a public notice on March 13, 2025, warning petroleum operators of outstanding revenue obligations to the government of Sierra Leone.
The notice emphasizes the authorities’ mandate under the National Revenue Authority Act of 2022, which empowers them to enforce compliance measures aimed at recovering overdue revenues and maintaining the integrity of the revenue collection system.
Under Part VIII, Section 71 of the National Petroleum Regulatory Statutory Instrument 2016, failure to pay the required fees outlined in the Second Schedule is classified as an offence. Offenders could face significant penalties, including a fine of Fifty Thousand Leones (Le 50,000.00) or imprisonment for at least one year, or both.
To ensure compliance, the NRA and PRA may take several enforcement actions. These include sealing the business premises of non-compliant operators, garnishing their bank accounts, and imposing travel restrictions on key executives.
The NRA and PRA urge all affected petroleum operators to promptly settle their liabilities to avoid these enforcement measures and ensure the continuity of their operations. Stakeholders are strongly encouraged to comply to prevent any potential penalties.