The National Petroleum Authority (NPA) is assisting its counterpart in Sierra Leone, the Petroleum Regulatory Agency (PRA), to improve efficiency in regulating the petroleum downstream in that country.
A team, led by its Executive Chairman, Dr. Brima Baluwa Koroma, said they were here to share and learn experiences in terms of structures, processes, policies and procedures in regulating the petroleum downstream sector.
He was worried the private sector controlled the petroleum downstream sector in Sierra Leone, adding that: “For Sierra Leon, it is very strange that throughout our petroleum value chain, there is no government participation”.
Mr. Koroma said the current government was determined to take a position in the industry and reinstitute a semblance of Goil in Sierra Leone.
He believed it was dangerous for any government to allow only the private sector to control the petroleum downstream industry which is the driver of every economy in this world.
“So, we are here to understand how the National Petroleum Authority of Ghana does its works and controls the sector so efficiently that they have won the admiration of many regulatory agencies and players of the petroleum downstream industry across the continent,” the Executive Chairman lauded.
Addressing the Sierra Leonean team, Dr. Mustapha Abdul-Hamid, the Chief Executive of NPA corroborated the sentiments of the PRA Executive Chairman, and eulogised the strategic functions Goil and BOST play in the economy.
Recounting Ghana’s experience on regulation of the petroleum downstream industry, Dr. Abdul-Hamid said what has been helping the people is the active participation of government through its entities, such as Goil and BOST, unlike Sierra Leone that depends wholly on private players that normally decide what happens.
He stated that cooperation was the only way the two entities could advance the development of their countries.
The NPA boss pledged Ghana’s willingness to continuously assist Sierra Leone to develop its petroleum downstream industry, adding: “I am prepared to send my best workers to Sierra Leone to assist you craft out a system that will ensure efficiency in regulating the downstream sector better”.
He commended Dr. Baluwa Koroma for his transformational leadership for the past four years, which has seen new important players within the sector.
The Executive Chairman of PRA was accompanied by Christopher Pearce, Director of Finance and Administration; Gibrilla Barwe, Deputy Finance; and Jayah K. Muana, Deputy Director of PRA.