Tuesday 18th March 2025
KEY HIGHLIGHTS
By: Zacharia Jalloh, Strategic Communications Unit, Ministry of Information and Civic Education
The Ministry of Information and Civic Education held a press conference on Tuesday, 18th March 2025, provided updates on key national issues, including economic reforms, revenue generation, and international relations. Hosted by Media Adviser, Imran Silla, the press conference underscored key government achievements, including strengthened bilateral ties with Ghana, reductions in the price of rice and inflation, improved revenue generation, and the implementation of new tax compliance measures. The following are the key highlights:
Strengthening Bilateral Relations with Ghana
Imran Silla announced the official working visit of the newly elected President of Ghana, H.E. John Dramani Mahama, to Sierra Leone. The one-day visit, which took place at Lungi International Airport, marks President Mahama’s first official trip since assuming office in January 2025. Discussions focused on strengthening and reviewing existing bilateral relations in key sectors such as trade and investment, agriculture and food security, tourism, public health, education, defence, security, and international relations. Both leaders reaffirmed their commitment to exploring new opportunities for cooperation in advancing their respective national development agendas.
Reduction in Rice Prices
Imran Silla highlighted a significant and unprecedented reduction in the price of rice, attributing this success to the leadership of H.E. President Dr. Julius Maada Bio and his economic team at the Ministry of Finance, the Ministry of Trade, and the National Revenue Authority (NRA). He explained that a newly developed price formula has led to a reduction of over NLe250 in the cost of a bag of rice, bringing it down from approximately NLe960. Further reductions are anticipated in the coming months.
Revenue Generation and Electronic Cash Registers (ECR)
The Financial Secretary at the Ministry of Finance, Matthew Dingie, assured the public that despite fluctuations in revenue streams, Sierra Leone is performing well in meeting its revenue generation targets. He noted that in 2024, the country successfully achieved 99% of its revenue target. However, a slight drop was observed in early 2025 due to over 2,000 Electronic Cash Register (ECR) machines being out of use, which impacted revenue collection.
Dingie explained that many businesses were reluctant to use the ECR machines, leading to revenue losses. He urged the public to request NRA-issued receipts for all purchases and payments, emphasizing that tax compliance is a civic responsibility. Following engagements between the NRA and the service provider, all ECR machines have now been reactivated, and revenue collection is expected to improve significantly by the end of March 2025.
Inflation Reduction
Matthew Dingie announced a major economic achievement: inflation has dropped from 54.3% in July 2023 to 13.8% in February 2025, representing a reduction of over 30%.
Improved Revenue Generation
The Commissioner General of the National Revenue Authority, Mrs. Jeneba K. Bangura, provided an overview of the country’s revenue growth from 2022 to 2024. She reported that revenue collection had increased significantly:
2022: NLe7.1 billion
2023: NLe10.1 billion
2024: NLe14.5 billion
2025 Target: NLe18.9 billion
Mrs. Bangura attributed this steady improvement to the NRA’s strong commitment to implementing financial reforms aimed at making revenue generation more predictable.
Reforms in Taxation and Revenue Collection
To curb tax evasion and improve compliance, Mrs. Bangura outlined several key measures introduced by the NRA:
• Fuel Marking System: Focused on concessions granted to mining companies, which previously paid little or no tax on fuel but were reselling it for profit. The new system will prevent this abuse.
• Tax Stamps on Beverages: A tax stamp is now required on all alcoholic and non-alcoholic beverages, both locally produced and imported. Citizens are encouraged to check for tax stamps on drinks and report any missing stamps.
• ‘CHECK AM’ Mobile App: A newly launched app available on the Play Store, enabling consumers to verify the authenticity of tax stamps on beverages.
• ENSOFT System: A digital platform integrated with telecommunications companies to provide real-time data, enhancing Goods and Services Tax (GST) collection from Mobile Network Operators (MNOs).
Mrs. Bangura revealed that the NRA has implemented 21 internal and external measures to strengthen revenue generation. She joined the Financial Secretary in urging citizens to support the NRA by collecting their GST receipts as part of their civic duty.
Clarification on the 2025 Finance Act
The Deputy Chairman of the Finance Committee in Parliament, Hon. Mustapha M. Sellu, clarified that the 2025 Finance Act does not introduce new taxes but rather strengthens enforcement provisions to ensure compliance. The Act grants the NRA the authority to fine defaulters and enforce tax obligations. Hon. Sellu reaffirmed Parliament’s commitment to supporting the NRA in digitizing revenue collection, minimizing corruption, and reducing financial losses.
