Parliament on Thursday, 27 November 2025, passed the Finance Act 2026, a key fiscal instrument expected to generate NLe 2.5 billion in domestic revenue. The Minister of Finance, Sheku Fantamadi Bangura, said the Bill strengthens tax enforcement, improves revenue collection, and places citizens at the center of government policy.
Presenting the Bill, Minister Bangura told MPs that the 2026 Finance Act is designed to confront the country’s economic challenges while deepening efforts to reduce poverty and vulnerability.
“The 2026 Finance Bill seeks to address the nation’s economic realities by enhancing efficient tax collection, strengthening enforcement mechanisms, and boosting domestic revenue generation,” he assured.
A major highlight of the Bill is the proposed increase in import duties on commodities that are already manufactured locally—including tomato paste, ketchup, bottled water, and Maggie cubes. The existing 20% import duty will rise to 35% in 2026, a move aimed at protecting domestic manufacturers and encouraging consumers to buy locally produced goods. The government says this step will help stabilize prices and improve the cost of living.
For years, citizens have raised concerns about the high cost of cooking gas, forcing many households to rely heavily on charcoal. In response, the government of President Dr. Julius Maada Bio is introducing a zero-rate policy on LPG gas and its accessories, including cooking stoves, solar panels, and other home-energy systems. This measure is expected to significantly reduce costs, improve accessibility, and accelerate the shift toward clean cooking and renewable energy.
Together, these reforms reflect the government’s commitment to easing financial pressure on citizens, supporting local industry, and promoting environmentally sustainable solutions. The zero-rate proposal for LPG, in particular, underscores a renewed national push toward cleaner, healthier, and more affordable household energy.
