Director of Communications at State House, Myk Berewa, in a social media post, has stated that Sierra Leone spends about $24 million a year, roughly $1.5 to $2 million every month, just to keep fuel pump prices down.
In a statement on fuel subsidy, Berewa said the huge sum used to subsidise petroleum products means vital public funds are being diverted from essential sectors.
“Sierra Leone spends about $24 million a year, roughly $1.5 to $2 million every month just to keep fuel prices down. This means that vital public funds are being diverted from essential areas like school subsidies, local councils, and development initiatives,” he stated.
His disclosure comes weeks after the Minister of Trade and Industry, Alpha Sesay, revealed during the 2027 Financial Year budget hearing that government had spent over $8 million in recent months to cushion citizens from rising global oil prices.
Currently petrol sells at NLe 40 per litre and diesel at NLe 45 per litre, prices the government says would have been far higher without intervention.