In my findings and reviewed of our economy, I was able to realised the problems and the reason for the high prices of basic commodities. Prices have escalated tremendously over the past years. This applies to both locally produced and imported items. A bag of cement is about Le32, 000. A Bundle of Zinc is about Le250, 000, whilst a bag of rice which is our staple food ranges from Le110,000 to Le120,000 and so are many other items. It appears as if there is an increase in Prices for every commodity.

In my researched, I noticed that Sierra Leone Economic status is better than its neighbour’s irrespective of the high increase in the prices of basic commodities. See an example of prices of commodities of one of our neighbouring country:

In Liberia a bag of cement was sold between LD 280-300 during Taylor’s administration but is currently sold at LD 600 in present day Liberia. A 50Kg bag of Rice was sold between LD 800-850 during Taylor’s administration but is now sold at LD 1,750 in present day Liberia. A gallon of gasoline was sold between LD 140-150 during Taylor’s administration but is now sold at LD 280 in present day Liberia. A pack of candle was sold between LD 25-30 during Taylor’s administration but it is currently sold between LD 80 in present day Liberia. A gallon of Argo oil was sold between LD 275-300 in Taylor’s administration but it is now sold for LD 650.

The high prices of items are affecting households and businesses in various spheres of life. In many cases, prices have so prohibitive that people cannot afford to purchase essential items. I spoke with some business people, and these were their responses. Aminata Kalokoh sells local foodstuff and according to her she believed that increases in prices of commodities is due to the fact certain systems, which should have been put in place, have not been done. I asked her to tell me what exactly she meant, she said that the cost of transportation is very expensive and the drivers are always increasing transport fares. Their reason for doing so is that price of fuel is increasing everyday. What I gathered from our conversation was that when there is an increase in fuel there is also a corresponding increase in the prices of locally produced commodities.

I went further to talk with a businessman called Juldeh Bah who sells imported commodities like television sets and many others. His first response was that his customers claimed that money was hard to come and that business was getting stiff.

I further asked him why prices were increasing everyday. He said the problem is with the Government. Why the Government, I asked? He said the customs rate for clearing goods are too high and this is reflected in their prices, as they would have to get back their money spent. I also took my time to check with customers in one of the busiest market (Dovecot), I asked one of them to comment on the prices of basic commodities. She said goods are very expensive these days. I asked her, what type of policy she thinks could be put in place in order to normalise prices. She said, “The only thing government should do is to reactivate the price control system because in the past it used to work effectively.

As for shortage of foreign exchange and unfavourable exchange rates, businessmen experience acute shortage of foreign exchange, and when available it is at prohibitive high exchange rates. The Leone has depreciated tremendously against other foreign currencies.

Well as a patriot Sierra Leonean and a Research Fellow, I will recommend the provision of urgent assistance to farmers. Meaning to provide financial assistance to farmers in major agricultural areas to clear their farmlands and rehabilitate their plantations.

The improvement of feeder roads is also another factor to be urgently addressed to enable farmers to transport their goods in big towns. Improving feeder roads will facilitate the marketing of agricultural products by local farmers in remote areas. Although there are on going programmes, the government should consider giving priority to certain agricultural areas by providing much-needed funds directly from the government budget.

In addition, it will be good for the Government to address some specific factors responsible for the high costs of doing business. There are several of these but I particularly concerned about the following:

• The inefficiencies at the sea port relating to poor facilities for cargo handling, theft, delays in transportation of goods and high shipping costs need to be addressed.
• The non-availability of basic infrastructure is a cause for concern. I am particularly concerned about the electricity situation, but now it appears that the new Government has been able to put modalities in place with additional power by an Independent Power Provider (IPP) whilst we await the connection of the Bumbuna project.
• There is need for more prudent management of the economy by pursuing prudent fiscal and monetary policies in order to stabilise the currency and keep inflation at acceptable levels.
• I also believe that certain sectors can be made to create significant and immediate positive impact on the economy. This is especially true of the marine sector for which there is considerable potential. The government should ensure the appropriate regulations are enforced, and seriously consider the construction of fishing ports as a priority, whilst providing greater protection to our waters.