June 23, 2021
Bike Riders have added their voices to the Native Consortium Press Release urging Government not to allow an increase in the pump price of fuel in the country from 8,500 to 9000.
Speaking to this medium at in Bo, August Brima said if there is an increase in the pump price of fuels it will make things difficult for not only the riders but the entire people in the country.
Augustine Brima said the government needs to manage to the situation before it goes out of hands.
Some fuel stations in Bo want to hoard fuel because they are hearing about increase in the pump price.
Some members of the public in Bo say if the rumour making the rounds is true it will have an adverse effect on cost of living.
The Native Consortium press release reads below:
NATIVE CONSORTIUM & RESEARCH CENTER (NCRC) AND CITIZENS ACROSS SIERRA LEONE REGISTER DISAPPROVAL OVER IMMINENT INCREMENT IN FUEL PUMP PRICE FROM LE 8,500 TO LE 9,500 IN JULY 2021.
Firstly, we want to congratulate our Darling Leone Stars for making us proud with this momentous victory by bringing back the joy to Sierra Leoneans at this time, we want to God thank for this day after 25 years.
It has come to the notice of the Native Consortium and Research Centre that Government, through the Petroleum Regulatory Authority (PRA), is about to increase the price of fuel from Le. 8,500 to Le. 9,500 per litre anytime in July 2021 according to the PRA release dated 7th June 2021. The NCRC wants the general public and especially the PRA and the government to know that such increment is not only unacceptable but untimely and will exacerbate the suffering of the poor sierra Leonean.
The NCRC want to register its total disapproval over such move by the PRA to increase fuel price and we also want to bring to the immediate and full attention of the general public that the Native Consortium will lead a peaceful nationwide demonstration to register our dissatisfaction over such imminent increment in fuel price on behalf of the public.
The NCRC want to thank the current leadership of the Petroleum Regulatory Authority (PRA) for the ongoing construction of additional 60,000 metric tons of storage facility and the procurement of plats of refined petroleum products. Since 2005 to date the current PRA leadership should know that the above recommendations have been central in the advocacy of the Native Consortium, including sustaining a strategic stock for any likely shock or artificial scarcity created by the cartel.
The NCRC want to inform the PRA and the public that there is no material hike in oil price in the World Market.
There has been only 14% increment from February 2021 to date, compared to the 200% increment that occurred during the height of the COVID between April 2020 from Le 7,000 to Le 8,500 in February 2021 when the price per barrel was sold at $ 59 per barrel.
As at 7th June 2021 when PRA issued their release indicating the Government subsidy and loss and possible increment in July the fuel price per barrel stands at an average of $ 69 per barrel. As a lead voice on fuel the NCRC strongly believe that petroleum has 3 components which the Government can invest in: (a) Importation (b) Storage and (c) Distribution. From 2005 to date the NCRC have not just been giving descriptions but providing prescription for the downstream petroleum sector based on the studies we have conducted over time with support from International Monetary Fund (IMF) and Christian AID to name but few. Like we have always maintained there are two drivers of fuel price in Sierra Leone; it either the forces of demand and supply to make up the price of crude or the foreign exchange fluctuations locally. The Consortium have always warned the Government agents to stop using this moribund narrative of people smuggling fuel to Guinea as a driver for increase in petroleum product as this statement is an egregious assault on the intelligence of the people. Smuggling of fuel has nothing to do with fuel price; in fact it even creates big turnover and profit for the Oil Marketers more so when we have free trade protocols the Mano River Basin.
The NCRC have received intelligence that one Government Minister is working in the interest of Oil Marketers to put undue pressure on the PRA Boss to increase fuel. We want to advice that minister to stop this shameful behavior or else we will shame-name him next time. In retrospect of all of the above the NCRC want the PRA to understand that any attempt to increase the pump price now from Le 8,500 upwards (Le. 9,500) it will be devastating to the livelihood of the people and therefore any attempt by the Trade Minister through the PRA to increase fuel price will be met with the stiffest resistance from well-meaning Sierra Leoneans in a peaceful protest to register our disapproval, as we have already written a letter to the police for protection and clearance to demonstrate nationwide. We are calling on the President and the Government to halt the PRA from increasing fuel price. For the sake of our Darling Leone Stars the PRA and the Trade Ministry should halt such insensitive move that will by extension lead to increase in transportation fares and add to the economic hardship and the cost of living of Sierra Leoneans. However, if at all the PRA neglect the people’s demand and insist on increasing fuel price in July the NCRC, lead Civil Society Organizations, some Interest and Minority Groups alongside concerned Sierra Leoneans will confront it with a peaceful protest.
Edmond Abu Jr.
Executive Director