By: Aminata Sesay
Sierra Leone’s Parliament has officially passed the Finance Act 2026 into law following a long and intense session on the evening of Wednesday, 26 November 2025. The legislation, central to the government’s revenue plans for the coming year, was approved with amendments shortly after 7:00 p.m.
The Finance Act updates and imposes various taxes intended to fund government programmes, support public services, and strengthen domestic revenue collection. It also reflects several key financial proposals from the Ministry of Finance.
Introducing the Bill, Minister of Finance Sheku Ahmed Fantamadi Bangura explained that the Act includes measures to help the government raise its projected NLe 2.5 billion in 2026. He emphasized the need for a more efficient tax system and stronger enforcement mechanisms, noting that Sierra Leone continues to lag behind its regional peers in areas such as tobacco taxation.
The Minister outlined several proposed amendments, including changes to the Customs Tariff Act (1978), the Excise Act (1982), and the Income Tax Act (2000). The adjustments also cover cement pricing, fuel charges, and a new GST certification structure to improve oversight of financial institutions. He added that environmental considerations influenced the decision to exempt petroleum gas from certain tax increases.
Hon. Francis Amara Kaisamba, Chairman of the Finance Committee, commended the Ministry for producing a comprehensive Bill. He defended the proposed NLe 10 increase on cement, arguing that it would not significantly affect the population. He also praised government efforts to reduce food prices and improve essential services such as electricity, roads, and healthcare.
Hon. Aaron Aruna Koroma, Deputy Leader 2 of the Opposition, warned that increases in cement and fuel prices could worsen economic hardship. He acknowledged the importance of taxation but stressed that implementation remains the country’s biggest challenge. He urged the government to ensure that the new tax measures do not place additional pressure on citizens.
Hon. Abdul Karim Kamara, the Opposition Whip, echoed these concerns, insisting that fuel being a politically sensitive commodity should not be taxed further. While he welcomed higher taxes on tobacco, he cautioned that changes to cement and fuel costs could trigger nationwide price hikes.
Defending the Bill, Deputy Leader of Government Business Hon. Saa Emerson Lamina invoked the Constitution to highlight Parliament’s responsibility in taxation matters. He dismissed some opposition claims and stated that private sector participation is essential for national development. Investors, he said, must contribute through tax payments, as no country can progress without adequate domestic revenue.
Closing the debate from the Opposition side, Hon. Abdul Kargbo, the Opposition Leader, argued that Sierra Leone’s revenue challenges stem from corruption, tax evasion, and weak compliance among MDAs. He urged Parliament to enact stronger laws to ensure that state institutions adhere to the legislation that guides national development.
According to Minister Bangura, reforms in the cement sector alone could generate an estimated NLe 207 billion. He assured MPs that the overall package aims to stabilise the economy and improve domestic revenue mobilisation.
The Bill sparked both support and criticism from Members of Parliament, revealing sharp divisions on issues affecting everyday citizens.
Wrapping up for the Government, Majority Leader Hon. Mathew Sahr Nyuma said the Finance Act is crucial to advancing the President’s “Big Five Changers.” He dismissed claims that fuel is a political commodity and accused some business actors of manipulating cement and commodity prices for personal gain. He argued that the real national challenge lies in enforcing existing policies and improving compliance.
Responding to MPs’ concerns, the Finance Minister reiterated that the Bill is essential for the government to raise the revenue needed to meet public expectations. He explained that the petroleum sector now operates under a more transparent and structured system and urged Parliament to provide the administration with the tools required to deliver development.
With these assurances, Parliament voted in favour of the Finance Act 2026 paving the way for significant tax reforms in the year ahead.