The Sierra Leone People’s Party has just clocked five years in power with a shrinking economy.
The New Direction Administration headed by President Rtd.Brig. Julius Maada Bio has changed two finance ministers to save the crippling economy. But things have not gone the way President Bio thought it will be due to bad bloods within his administration.
The Bank Governor Prof. Kelfala Muana Kallon has exhausted his bookish economic theories just to resuscitate a dead economy but have all proven futile. The redenomination of the local currency has helped to pile more sufferings on the vulnerable masses due to skyrocket prices of everyday use goods.
Political pundits have made it clear that the SLPP of late President Ahmad Tejan Kabbah is completely distinct from the latest SLPP of incumbent President Bio.
These pundits carried on to state that the eleven years rule of the All People’s Congress Party is more integrated in development than the five years of Bio’s SLPP.
With barely five years in governance, the price for a bag rice during late President Kabbah’s regime was Le60,000 while former President Koroma left it at Le200,000 and the latest price in Bio’s regime is NLe700 (Seven hundred thousand old) which is an increase of Le500,000 in five years.
The price of fuel per litre in the eleven years of APC was sold at just Le3, 500 and increased slightly to Le6, 500 which is an increment of just Le3, 000 in just eleven years. But the SLPP in just five years, the price of fuel per litre unprecedentedly increased from Le6, 500 to its recent price of Le21, 500 leaving a double increase of Le16, 000 in just five years.
The price for a bag of cement during the eleven years of APC was sold at Le25, 000 and it increased to Le40, 000 giving an increment of Le15, 000 in just eleven years. But the SLPP in five years in power, a bag of cement is now sold at Le150, 000 which is a skyrocket increase of Le110, 000.
The local currency is chasing the US Dollars because the country is not exporting anything that will reduce the over bloated exchange rate price. And the APC left the exchange rate at Le750, 000 from Le450, 000 for $100 US dollars therefore an increase of Le300, 000 in eleven years was done. But in just five years of Maada Bio’s PAOPA regime, US$100 is sold at Le2, 200,000 giving an historical upsurge of Le1, 450,000.
The flagship projects of Bio’s SLPP which is the Free and Quality Education has also helped to create more stress for parents and guardians who spend huge amount of money to enroll their children to their school of choice even though their children passed the schools’ mark. Parents spend lot of money to get their children back to school after writing their NPSE and BECE examinations. Despite parents are not paying school fees but the prices of school materials have catapulted to unprecedented prices with a pair of shoes sold at Le200,000, school bag at Le150,000 and so on and so forth.