The Executive Chairman of the Petroleum Regulatory Agency (PRA) recently addressed the press at the agency's headquarters, highlighting significant strides and prospects achieved during his five-year tenure.
Mr Brima Baluwa Koroma emphasized the restoration of public trust and confidence in the agency, noting substantial increases in the number of operational gas stations across the country. Under his leadership, the agency expanded from 202 to 415 gas stations, implementing open-door policies that foster inclusivity within the sector.
During his maiden press conference in 2024, Chairman Baluwa revealed impressive growth metrics, including a 105% increase in gas stations over five years and significant expansions in importation, sales, and distribution of petroleum products. Importation volumes rose from 355,000 to 525,000 metric tons annually, while sales and distribution recorded a 28% increase, reaching 523 million litres by December 2023.
Moreover, strategic policy developments led to a substantial rise in storage capacity, with an increase from 120,000 to 215,000 metric tons. The agency also expanded its presence across the country, establishing district offices and employing District Monitoring Officers in all 16 districts.
Chairman Baluwa underscored the agency's critical role in society, emphasizing its status as the largest agency worldwide in the petroleum sector. He highlighted key policy initiatives, including the establishment of strategic storage facilities to mitigate external supply threats, such as the 10,000 metric tons storage provision for emergencies.
Additionally, Chairman Baluwa announced upcoming commissioning ceremonies for new storage facilities, including Conex Energy's 30,000 metric tons tanks and Aminata & Sons' 8,000 metric tons diesel storage, further enhancing the country's petroleum infrastructure.
In closing, Chairman Baluwa called for fair and reasonable reporting by journalists, acknowledging the agency's significant contributions to national revenue generation and economic development.
