Minister of Finance, Sheku Ahmed Fantamadi Bangura and Julius Mattai, Minister of Mines and Mineral ResourcesPresident Julius Maada Bio’s administration faces scrutiny following a substantial disparity in declared mining sector receipts for 2024. According to the Ministry of Mines and Mineral Resources and the National Minerals Agency (NMA), the non-tax mining sector generated $49.4 million between January and December 2024. However, the Ministry of Finance only received $16 million, leaving $33.4 million unaccounted for.
The Mines Ministry and NMA issued a detailed breakdown in response to the Finance Minister’s claims, revealing that total non-tax revenue increased to $49.4 million in 2024 from $32.7 million in 2023. The Mines Ministry and NMA reported mining royalties of $27.9 million for 2024, up from $21.8 million the previous year, while annual licence fees nearly doubled to $21.4 million from $10.9 million in 2023.
However, Finance Minister Ahmed Sheku Fantamadi Bangura informed the public that his ministry’s records show $16 million in revenue from the sector in 2024. The $33.4 million gap has alarmed the public, who are demanding answers as to how the two ministries’ accounts could differ so dramatically. Officials have yet to provide a definitive explanation for the discrepancy.
The unexplained shortfall has raised fresh concerns about accountability and the safeguarding of public funds. The public is imploring the Anti-Corruption Commission to investigate the matter.***
