By Ragan M. Conteh

The Chairman of the Petroleum Regulatory Agency (PRA) , Baluwa Koroma, has disclosed to the sub-appropriations committee headed by Hon Sallieu Osman Sesay that the country is consuming 40,000 metric tons of fuel a month.

The Petroleum Regulatory Agency (PRA) was principally enacted by Act of Parliament in 2014, with the Statutory Instrument of 2016 to regulate the downstream petroleum sector which includes refining, storage, importation, bunkering, transportation, distribution, retailing, etc, of operators and also to work with relevant stakeholders to determine affordable and efficient pump prices of fuel sold across the country.

He was given a status report about the activities of the committee in the chambers of parliament.

Digressing further about the petroleum industry in the country, Koroma stated that, as an agency they are always working towards meeting demand for fuel use in the country.

He said transparency and accountability is the bedrock for the agency, adding that in order to further strengthen and ensure development and the demand for fuel in the country, they have held dialogue with the World Bank to review fuel pricing.

He underscored that over the last 5 to 6 years, as an agency, they have bestowed a strategic mandate to open up the sector and fairness.

He stressed that Sierra Leone is an investment destination and as an agency they are striving towards further rebranding the sector.

Baluwa Koroma revealed that, they are working with the 2014 PRA Act which states that before one is given a license to import fuel one must have a storage facility.

He pointed out that the country is currently having 885,000 metric tons of fuel  in stores.

He also disclosed that a newly constructed company called Aminata and Sons who built their storage facility at Cline Town will also import thousands of metric tons of fuel in the next couple of months.

Koroma maintained that they have significantly improves gas infrastructure across Sierra Leone  and will continue to work towards revitalizing the petroleum industry.

Chairman Baluwa Kroroma has also called on government to work towards having a specific company that will transact the fuel business on behalf of government, like how Ghana is doing, stating that this will improve efficiency in fuel consumption.

As an agency, he said, they have also been able to hit Le 1.1 trillion target on revenue mobilization for government.

Stating that they have over 200 gas stations across Sierra Leone at the moment.

However, MPs in the committee urged out the Chairman Baluwa Koroma for more proactive steps to be taken towards strengthening the petroleum industry in the country.