The Chief Executive Officer of Aminata and Sons (SL) Limited, Mohammed Turay, has clarified that the company is not seeking a tax waiver from the Government of Sierra Leone but rather a three-year tax payment deferral to support the expansion of its operations.
Speaking on the company’s plans, Turay explained that the proposed arrangement would provide the financial flexibility needed to expand Aminata and Sons’ petroleum storage facilities and strengthen its supply chain infrastructure.
He noted that the proposal has already received Cabinet approval and is currently awaiting ratification by Parliament.
According to Turay, the company’s entry into Sierra Leone’s petroleum sector in 2024 has contributed significantly to improving fuel availability and reducing shortages across the country.
“Since we entered the market, artificial scarcity of petroleum products has been curtailed,” he said, adding that the company has helped challenge what he described as a longstanding monopoly enjoyed by a small group of petroleum importers.
Turay maintained that the planned expansion would require substantial capital investment but stressed that the government would not lose any revenue under the proposed tax deferral arrangement.
“The country will not lose a single cent. All we intend to do is to have flexibility in our operations so that we can invest more money and expand our storage facility,” he stated.
He further disclosed that an expanded storage capacity would enable Aminata and Sons to begin importing Jet Fuel and Heavy Fuel Oil (HFO), sectors currently dominated by other market players. He argued that increased competition in these areas would help improve efficiency and reduce market concentration.
At present, the company imports only petrol and diesel due to existing storage limitations.
Aminata and Sons currently operates in Sierra Leone, Liberia and Guinea, with plans to expand its footprint into The Gambia in the near future.
The company, which has operated in the petroleum industry for more than three decades, began its operations in Liberia and has since grown into a regional player in the West African energy sector.
The proposed tax payment deferral is expected to be debated by Parliament as part of the government’s efforts to encourage private sector investment while safeguarding public revenue.
