AMINATA & SONS UNVEILS US$18M EXPANSION PLAN
…Clarifies Tax Deferment Proposal
Aminata & Sons (SL) Limited has issued a detailed statement clarifying its proposed three-year tax deferment request to the Government of Sierra Leone, emphasizing that the proposal is aimed at strengthening national fuel security, expanding petroleum storage infrastructure and supporting long-term economic growth rather than seeking a tax waiver.
In a press statement issued in Freetown on Friday, 19th June 2026, the company said recent public discussions and media reports surrounding the proposal had not fully reflected the purpose, scope and national significance of the request. See full press release below:
The company stressed that the proposed arrangement is a tax deferment, not a tax waiver, noting that all tax obligations would still be paid but over a later period. According to management, the temporary deferment would provide the financial flexibility needed to complete major infrastructure projects, maintain fuel imports, preserve working capital and meet existing debt obligations arising from earlier investments.
Aminata & Sons disclosed that between 2020 and 2023, it invested approximately US$20 million in downstream petroleum storage facilities in Sierra Leone, including assets at Cline Town and the Kissy Terminal. The company stated that these investments were undertaken without government tax incentives and were largely financed through shareholder equity and commercial borrowing.
The company further revealed plans for a second phase expansion valued at approximately US$18 million, which would add an additional 25,000 metric tonnes of storage capacity. If completed, total storage capacity would increase from about 19,500 metric tonnes to 45,000 metric tonnes, significantly enhancing the country’s ability to store petroleum products and support future imports, including Jet Fuel and Heavy Fuel Oil.
Chief Executive Officer, Mohammed Turay, stated that the proposed deferment would enable the company to complete the expansion while safeguarding national energy security and ensuring uninterrupted fuel imports.
He maintained that while the deferment could result in a temporary delay in government revenue collection, the long-term benefits would include increased economic activity, job creation and higher future tax revenues.
Highlighting its contribution to the petroleum sector since commencing operations in Sierra Leone in 2024, Aminata & Sons said it has helped improve fuel availability, strengthen market stability and contribute an average of US$6 million annually to government revenue. The company also noted that approximately 95 percent of its workforce is Sierra Leonean.
Management further stated that its presence in the market has broadened competition in the downstream petroleum sector and helped reduce petroleum product shortages.
Addressing public discussions about its operations and ownership structure, the company reiterated that neither its CEO nor any member of its management team has ever accused any Oil Marketing Company (OMC) of creating artificial shortages or operating as a cartel. It described such claims as misrepresentations of its position and emphasized its commitment to maintaining cordial and professional relationships with industry stakeholders.
Aminata & Sons concluded by reaffirming that its request is based on infrastructure development, supply chain resilience and sector stability rather than permanent fiscal exemptions. The company pledged to continue operating in compliance with regulatory requirements while contributing to Sierra Leone’s energy security and economic development.
The statement comes as public debate continues over the proposed concession agreement currently before Parliament, with supporters arguing that the expansion could significantly strengthen the country’s petroleum storage capacity and fuel security in the years ahead.