Freetown, Sierra Leone – March 20, 2025 – The Sierra Leonean government has announced additional reductions in rice prices in the coming months, building on a series of unprecedented price cuts implemented in recent times.
This move is part of broader efforts to ease the financial burden on citizens and ensure the affordability of essential food commodities.
Speaking at the Ministry of Information and Communication’s (MOICE) weekly press conference, Imran Sillah from the Strategic Communication Unit attributed the continued price reductions to the leadership of President Julius Maada Bio and the collaborative efforts of key government institutions, including the Ministry of Finance, the Ministry of Trade, and the National Revenue Authority (NRA).
According to Sillah, a newly developed pricing formula has played a crucial role in stabilizing rice prices, leading to a reduction of over NLe 250 per bag. As a result, the price of a 50kg bag of rice has now dropped to approximately NLe 960.
Rice is a staple food in Sierra Leone, and its affordability remains a key concern for both consumers and policymakers. The government’s pricing strategy is part of a broader economic reform agenda aimed at mitigating inflation, strengthening food security, and ensuring that basic commodities remain within reach of ordinary citizens.
The pricing formula, established on January 6, 2025, was the result of extensive consultations between the government and major rice importers. The agreement set the wholesale price of parboiled rice at NLe 840 per 50-kilogram bag, effective January 7, 2025, with a further reduction to NLe 799 per bag from February 14, 2025.
The Ministry of Trade and Industry has been actively working with rice retailers to ensure these adjusted prices are reflected in the market, aiming to stabilize the market and enhance food security.
This initiative is part of the government’s broader strategy to improve food security and the livelihoods of Sierra Leoneans.
The government remains committed to developing macro- and micro-economic policies that promote productivity, equity, and growth across all sectors. Similar pricing formulas are being considered for other essential commodities to further support citizens during these challenging economic times.
These measures reflect the government’s dedication to mitigating the impact of global economic challenges on Sierra Leonean citizens, ensuring that essential commodities like rice remain affordable and accessible.
