The Parliament of Sierra Leone has approved the Finance Act 2026, a landmark economic policy designed to boost domestic revenue, strengthen local manufacturing, and reduce the cost of essential commodities for citizens. The Bill, passed on November 27, 2025, seeks to raise NLe 2.5 billion through enhanced tax enforcement and improved revenue mobilization.

Presenting the Bill to lawmakers, the Minister of Finance, Mr. Sheku Fantamadi Bangura, described it as a “people-centered legislation” aimed at improving livelihoods amid global and domestic economic pressures.

“The 2026 Finance Bill endeavors to tackle the nation’s economic challenges by continuing efforts to reduce poverty and vulnerability,” the Minister said. “Upon approval, the Bill will enhance efficient tax collection, strengthen enforcement, and boost the country’s domestic revenue generation.”

One of the most significant policy interventions in the 2026 Finance Act is the proposed increase in import duties on selected commodities that are already produced locally. Items such as tomato paste, ketchup, bottled water, and Maggie cubes—currently charged at 20% import duty—will now attract a 35% duty.

The government says the adjustment is intended to protect local manufacturers from unfair foreign competition, encourage domestic production, and stimulate job creation within the manufacturing sector. By boosting local industries, authorities hope to stabilize prices and improve the availability of homegrown products in the market.

Responding to long-standing public concerns over the rising cost of cooking gas, the government has introduced a zero-rated tax policy on Liquefied Petroleum Gas (LPG) and all related accessories. The waiver also applies to cooking stoves, solar panels and essential home energy systems.

For many households, the high cost of LPG has pushed them toward charcoal, contributing to deforestation and environmental degradation. The new measure under the leadership of His Excellency President Dr. Julius Maada Bio seeks to reverse that trend by making clean cooking more affordable and accessible.

Officials describe the zero-rate provision as a major step toward promoting renewable energy, improving public health, and supporting environmental conservation.

The Finance Act 2026 underscores the government’s commitment to easing economic pressures on citizens while fostering sustainable growth. The combined effect of supporting local manufacturers and removing taxes on clean energy equipment is expected to reduce overall household expenses and stimulate economic activity.

As Sierra Leone heads into 2026, the new Finance Act signals a renewed push for inclusive development, improved domestic revenue performance, and policies that balance economic growth with social welfare. https://thecalabashnewspaper.com/government-introduces-zero-rate-on-cooking-gas-to-promote-clean-affordable-cooking/