By Musa Paul Feika
This year’s Ramadan is one of the most difficult in the history of Sierra Leone as it is being marred by the current hardship in the country. The rise in the price of food commodities during this year’s holy month of Ramadan has exacerbated the already dire economic downturn under the auspices of the Sierra Leone People’s Party (SLPP).
Considering the skyrocketing prices of our commodities in this holy of month, it is obvious that even after Ramadan the rise in food commodities will continue. The increment in the prices of food commodities has deprived many Sierra Leonean Muslims from observing this year’s Ramadan.
The prices of goods and services have increased in the markets, which bite anyone’s imagination. Before Ramadan a plastic of charcoal cost two new leones (NLe2). However, with Ramadan, the same plastic bag of charcoal has gone up to five new leones (NLe5).
Furthermore, for the first time in Sierra Leone’s history our neighbouring country Guinea’s currency is now more valuable than our leones under the President Bio led administration. It could be recalled that during the erstwhile presidency of Dr Earnest Bai Koroma, a bag of rice which is our staple food was two hundred thousand old leones (NLe200) as compared to the price of a bag under the ruling SLLPP, which has exponentially increased from NLe200 to NLe600 per bag since April 2018.
Many economists have predicted that if the Sierra Leone People’s Party (SLPP) retains power after the 24 June 2023 elections and remains in power, there is the possibility that a bag of rice will increase from NLe600 to NLe1,100.
Since the SLLP took over governance in 2018 there has been a 225% increment in the price of rice which means that the ruling party has been adding ninety thousand old leones (NLe90) on the price of a bag of rice a years for the past five (5) years since they took over governance.
Due to the increments in the prices of food commodities, this year’s Ramadan has seen fewer people observing the fast. During former President Koroma’ administration the price of five gallon palm oil was one hundred and seventy thousand old leones (NLe170) but the price has increased from one hundred and seventy thousand old leones to seven hundred thousand leones (NLe700) in this Ramadan month.
In addition, Sierra Leoneans have admitted that the level of hunger in Sierra Lone is unprecedented and alarming under the SLPP government as many Sierra Leoneans go to bed without food.
In a radio interview the All People’s Congress Party Member of Parliament representing Constituency 07, Hon Abdul Kargbo, buttressed that in 2018 Guinea’s inflation rate was 14.19% as compared to our inflation rate, which has increased to 38.48% under the Paopa administration, which is a novelty in the economic history of Sierra Leone. One thousand United States dollars ($1000) is presently equivalent to one thousand, nine hundred seventy five new leones (NLe1,975).
Owing to lack of fiscal and prudent financial advice, the Bio led administration has made the standard of living for the ordinary more difficult than ever. When President Bio took over the mantle of leadership in 2018, he changed the country’s currency, and the then Bank Governor, Professor Kallon who is now in exile, confessed in the Well of Parliament that he had spent millions of dollars to print the said currency, but that the change of currency is not making any impact as both the old and new currencies are running in our markets, which shows that the change had not made any distinction or difference in the economy or lives of the people.
In 2020 Guinea’s growth rate was estimated at 7% and their public debt was 43.3% of their GDP which indicated that even at the worst public debt did not surpass their GDP. As it stands Guinea’s current inflation rate is at 120% and its public debts, 50% of GDP.
On the contrary, under the Poapa regime in under five years, Sierra Leone’s public debt is 95% of the country Gross Domestic Profit (GDP), even though the ruling SLLP has been receiving help or funding from our development partners, it has however failed to reflect on or impact the lives of the citizens.
The skyrocketing prices under this regime is so alarming that even a plate of “cookery” has increased from five thousand old leones (Le5,000) to ten leones or twenty leones (NLe20) upwards. Now imagine the price of a plate of rice at our local restaurants.
The escalating prices of food commodities in this holy month of Ramadan when synchronised with the status quo under Bio’s regime, has resulted to the most difficult financial circumstance for the people, in the history of Sierra Leone.