The Executive Chairman of the Petroleum Regulatory Agency, Brima Baluwa Koroma, has on the 23rd of January 2023, commended the commissioning of the LeonOil Grammar School gas station in Aberdeen.
The LeonOil Grammar School gas station is the second largest facility commissioned by LeonOil after the Shell new road outlet.
During the commissioning, Chairman Baluwa Koroma commended the management and Board of LeonOil company for such a massive investment as it shows their determination and dedication to invest in the sector.
This is going to be the 410 gas stations in the country that have been commissioned. Such investments are an indication that we are in the right direction as a nation.
Leonoil has recorded remarkable growth within a short period from a market share of 12.5% in 2018 to a solid jump to 21.23% as of December 2022.
This is sustained progress to shareholders of which I will appeal to management to reinvest in other regions in the country. Mr Baluwa Koroma
Chairman Baluwa Koroma reiterated the government’s commitment to ensuring that Oil Marketing Companies, operators, and other players get the needed support to thrive irrespective of any global crisis while highlighting government interventions including government subsidies and foreign exchange support.
Chairman Baluwa Koroma reiterated that the sustained growth of LeonOil is a testament to the new direction government commitment to private sector growth.
He said the government of President Julius Maada Bio has designed policies that will enhance development in the downstream petroleum sector.
He underscores the vital role of the sector in generating revenue for the government.
He called on sector players to focus their investments in the provinces to curb energy poverty which he said will reduce the presence of black marketers and hoarding.
The Minister of Trade & Industry, Dr. Hinga Sandi thanked oil marketing companies for playing an active part in maintaining the sector with products.
He commended the Grammar School gas station as a modern one that should be replicated across the country by dealers and operators.
The Board Chairman of Leonoil Mr. Sidie Bakarr said that they have been rebranding their outlets in line with government ideas in the past years, adding that PRA and the Ministry of Trade and Industry have been instrumental in giving them the support needed.
Reverend Leonard Ken Davies, Grammar School Principal, described it as a great day for a lasting business friendship, adding that the place was an eye-sore and crime scene.
He appealed to SLRSA to visit the place and do proper safety markings to avert accidents and other traffic-related issues.
Giving his vote of thanks, the Managing Director of Leonco, Ibrahim Cole, thanked the PRA boss for the leadership role he has been playing in the sector.
Mr. Cole said that they started negotiating for the spot in 2012, but are now happy that they have been able to construct such a modern gas station there. This he said will help to serve the Aberdeen community and Murray town areas.
He called on other players to work together in making the sector a better place as Leonco is here to serve.
