Welcoming the newly appointed Chief Executive Officer of National Petroleum Sierra Leone Limited Mohamed Kanu, the Director General of the National Petroleum Regulatory Authority (NPRA), Brima Baluwa Koroma, urged to adopt business models that are responsive to today’s volatile market dynamics. He made his statement at his office in the British Council Building, Tower Hill, Freetown.
Welcoming Mr. Kanu and the NP delegation, Director General Koroma expressed his excitement and high expectations for the leadership change. He noted that the NPRA management was particularly impressed with the timely visit, emphasizing that it was the perfect moment for the new CEO to familiarize himself with key stakeholders in an ever-evolving industry landscape.
Koroma also highlighted Mr. Kanu’s impressive two-decade-long experience in the petroleum sector, both locally and internationally. He believes that Kanu’s expertise will bring new dynamism to the industry and instill renewed hope, helping NPSL maintain its position as a market leader.
Baluwa Koroma reassured Mr. Kanu that the NPRA team remains optimistic about continued collaboration with NPSL, citing the company as a crucial partner to the government and a major contributor to the country’s economy. He acknowledged NPSL as the largest taxpayer in the sector and a key employer within the industry.
With NPSL’s expanding geographical presence in West Africa spanning Liberia, Ivory Coast, and The Gambia the Director General encouraged the company to continue setting the standard for other operators by adopting best international practices. He urged NPSL to embrace these standards as part of its efforts to maintain its leadership role in Sierra Leone’s oil marketing sector.
Koroma further appealed to Mr. Kanu to leverage his vast management experience from other markets and regulatory environments. He reminded Kanu that the NPRA will continue to regulate the industry strictly within the legal framework. The Director General emphasized the importance of strategic decisions that will ensure NPSL’s long-term growth and sustainability, while balancing the protection of investor returns and consumer interests.
“The Authority remains committed to maintaining a regulatory environment that supports a win-win situation for both investors and consumers,” Koroma stated.
Mr. Kanu’s appointment signals a positive change in the market, with expectations of strategic repositioning and the introduction of robust strategies for a more efficient and stable business environment.
In his remarks, Mr. Kanu expressed deep admiration for the NPRA’s leadership and the remarkable reforms the sector has undergone over the past six years. Reflecting on his past experience working in various markets, including NP Gambia, NP Guinea, NP Liberia, and NP Côte d’Ivoire, he noted that the petroleum market today is markedly different from when he last worked in Sierra Leone.
He acknowledged the stiff competition he had faced earlier in his career, particularly from outside Sierra Leone, and expressed confidence that this experience would help him overcome any challenges ahead. He also noted that during his previous tenure in Sierra Leone, the NPRA was not as visible as it is now, and he is excited about the forward-thinking leadership of Koroma and his team.
Mr. Kanu took office at a time when the industry faces significant challenges and uncertainties. He expressed his commitment to using his wealth of experience to address the industry’s current bottlenecks. He also called for maximum cooperation from regulators, urging them to recognize NPSL as a major industry player that requires consistent engagement and collaboration for continued success.
