On 6th January, 2025 the Government of Sierra Leone, through the Chief Minister’s Office at State House, announced the establishment of a new pricing formula for rice.

The Chief Minister had earlier on summoned all the major rice importers in the country to a meeting at State House. At that meeting, all the major rice importers unanimously approved the new pricing formula for rice.

A 50 kg bag of Parboil rice was to be sold by retailers for Le730 and Fen-Fen rice to be sold for Le640 per 50kg bag. These new prices have been complied with by all the major rice importers in the country. These prices are expected to go down again in March, according to a senior official in the Ministry of Trade and Industry.

Currently, a bag of Parboil rice of 50kg is sold at US$22.16 CIF (Cost, Insurance and Freight) in the international market. Fen-Fen rice, on the other hand, is sold for US$19.64 (CIF) per bag of 50kg in the international market. Why is the government paying Le1,150 for a bag of rice to rice suppliers?

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Even though wholesale prices for Parboil and Fen-Fen rice remain the same (as agreed between importers and the Government), suppliers of this essential commodity to government agencies like the Police, Prisons and Army continue to sell a bag of rice (Fen-Fen 100% broken) for Le1,150.

The government has fallen victim to this cut-throat price monopoly pioneered by a coterie of selfish businessmen parading as rice suppliers. They are nothing but daylight robbers!

This daylight robbery can be stopped immediately, if the political will to stop it, is there, and it is openly manifested. The Ministry of Finance is very much aware of this daylight robbery. Why can’t the Minister take firm action to stop it? If the Minister is serious about his ambition to succeed President Julius Maada Bio in 2028, he should be seen to be blocking all these leakages. The Minister can as well suspend all dubious duty waivers and cancel all tax concessions given to mining and road construction companies. That singular move can help boost domestic revenue. This country cannot continue to depend on foreign aid or budget support from the European Union.

We can simply boost revenue mobilization through the suspension of dubious duty waivers and senseless tax concessions given to mining and road construction companies.
The NRA Commissioner General should shift attention from the customs department and put tremendous pressure on the Domestic Tax Department of the Authority. The lack of a strong leadership at NRA is causing a lot of leakages in domestic revenue mobilization.

Government should stop the leakages, by refusing to pay Le1, 150 for a 50kg bag of Fen-Fen rice (100% broken) to selfish rice suppliers to the Police, Army and Prisons.