NPRA Remains Dormant in the midst of Pump Price Reduction
By Father Aliko
Exclusive random sampling interviews conducted among quite a good number of people across the country have revealed how the suffering masses are being betrayed by the National Petroleum Regulatory Authority (NPRA) when there is a slight decrease in the pump price of fuel by some patriotic dealers who mean well for this Nation. The million dollar question that most patriotic Sierra Leoneans are asking is that why NPRA has not announced the decreased price of fuel up to this moment, especially when conditions of living are very challenging for citizens.
Responding to the concerns being raised to the Director General (DG), Brima Baluwa Koroma of the aforementioned institution, through the Managing Editor of the Indigenes Newspaper, he stated that the current market prices of fuel is NLe 29 and NLe 28 per litre for petrol and diesel respectively. He went further stating that the Sierra Leone pump price is still NLe 27.4 and NLe 27.3 for petrol and diesel respectively, lower than the regional market prices from other nations. However, an unanswered question was posed to him by the said Managing Editor. The concern is why there is price discrimination among fuel dealers. Meaning, why is it that some are selling petrol at NLe 25 per litre whilst some are selling diesel at NLe 24? DG Baluwa was also asked that why the meager decrease, when the price at the World market is quite reasonable? He answered as thus “NPRA is the ONLY institution in Sierra Leone that is registered and licensed with international oil reference prices Platts S&P Global. Nobody has expert knowledge on fuel pricing other than S&P Global Platts used by NPRA. Current prices for diesel and petrol per MT is $701 and $740 for petrol and diesel respectively increased from $625 and $695 per mt in the last two weeks.
However, it was put to Brima Baluwa Koroma that it is alleged that a clandestine meeting was held with fuel dealers to decide on the pump price per litre. It is said that dealers were forced to vote for an increased price and that Brima Baluwa Koroma and the Chief Minister; Dr. David Moinina Sengeh did not want the price to decrease at all. The reason attached to that is the commission or kickback they are making. In response, the DG of NPRA says NPRA Act 2025 give them the mandate to set the fuel price ceiling. Every dealer is free to sell at any price below the ceiling. That is below NLe 27.4 and NLe 27.3. On that, he ended by saying this is currently what is happening in the market. When interrogated why is the pump price of fuel not uniformed among fuel stations, he outlined that there is no country in the world that has a homogeneous price or the same pump price. He buttressed that it is because importers have different prices. Petroleum industry is a competitive market and consumers are benefiting today from this competition. Why is the meager decrease in the pump price not reflecting on transportation and on prices of commodities (especially essential goods) in the market? DG Baluwa replied “Note that NPRA is not Ministry of Transport. The Ministry of Transport determines transportation costs and not NPRA”. The Managing Editor of the Indigenes Newspaper digressed on the fact that fuel is a major political commodity. It is an influential product in the market which has the tendency to influence the prices of all other commodities. Either an increase or decrease in those prices. The proverbial Sierra Leoneans are bitterly crying that NPRA is not seeking their interest at all. They are pinpointing on the unavoidable fact that the said Authority is only seeking its own interest, at the detriment of their dire need. Attempting to convince this Writer, Baluwa has this to say “Because NPRA works in public interest, which is why we support government policy to open up the market and bring in more players. There were a few importers in Sierra Leone six (6) years ago; there are over ten (10) importers now. Today, consumers are enjoying product availability and at competitive prices. The prices we enjoy today are as a result of competition and not international market forces”.
In conclusion, the General Public is assured of subsequent updates on this burning issue affecting us as a people.
©The Indigenes Newspaper
