Freetown: The Parliament of Sierra Leone has passed the Finance Act of 2026 into law following a prolonged debate. The Act, which was enacted with several amendments, aims to facilitate the collection of necessary taxes for the development of Sierra Leone. According to Sierra Leone News Agency, the Finance Act is designed to impose and alter taxes, reflecting the government's financial proposals and addressing related matters. The Minister of Finance, Sheku Ahmed Fantamadi Bangura, emphasized that the Bill contains tax proposals to empower the government in generating resources for the state. He assured Parliament of the government's commitment to generating Nle 2.5 billion and addressing tax efficiency. Proposed amendments include changes to the customs tariff act of 1978 and the Excise Act of 1982, with specific focus on low tobacco taxation in the region. Revenue projections for adjustments in the cement sector stand at Nle 207 billion, while adjustments in the petroleum sector and an increase in the inco me tax rate are also anticipated. The Act proposes amendments to the income tax act of 2000, with exceptions for petroleum gas to address environmental concerns. The Minister highlighted the importance of GST certifications for tracking financial institutions effectively and assured that the Bill's approval would enhance domestic revenue mobilization and improve the economy. Chairman of the Parliamentary Finance Committee, Hon. Francis Amara Kaisamba, representing Kenema District, expressed gratitude to the Ministry of Finance for drafting the Finance Bill. He highlighted the government's efforts to provide basic needs such as electricity, roads, and healthcare facilities, requiring substantial resources. He acknowledged the decrease in food prices and downplayed the impact of a proposed 10 Leones increase in cement prices. Hon. Aaron Aruna Koroma, Deputy Leader 2 of the Opposition, representing Tonkolili District, emphasized the importance of taxation for government revenue. He noted the lack of implementa tion as a recurring issue and expressed concerns about the negative impact of cement price increases on citizens. He also warned against potential hardships arising from fuel price hikes, hoping that these increments would not lead to widespread price increases. Whip of the Opposition, Hon. Abdul Karim Kamara, representing Kambia District, stressed the need for prioritizing citizens' interests while generating resources. He cautioned against increasing petroleum product prices, labeling fuel as a political commodity, and urged sensitivity regarding cement and fuel issues. He commended the ministry for increasing tobacco taxation. Deputy Leader of Government Business, Hon. Saa Emerson Lamina, referenced the 1991 Constitution regarding taxation and countered opposition claims. He underscored the significance of involving private sector players in national issues for growth and development. He praised the Minister of Finance for addressing inflation and urged parliamentary cooperation for financial growth. Op position Leader of Parliament, Hon. Abdul Kargbo, critiqued the country's revenue generation struggles despite mineral wealth. He attributed issues to corruption, tax evasion, and theft, advocating for laws to sanction non-compliant MDAs. He emphasized strategic Finance Act formulation to ensure compliance, block leakages, and prevent corruption. Majority Leader and Leader of Government Business, Hon. Mathew Sahr Nyuma, commended the Ministry of Finance for the Finance Act. He referenced the President's development efforts and identified domestic revenue generation challenges. He dismissed claims about fuel being a political commodity and criticized businesses for inflating prices. He stressed policy implementation and enforcement as ongoing challenges. The Minister responded to parliamentary concerns, affirming the Bill's purpose of raising revenue and delivering services. He highlighted changes in the petroleum sector's management and reiterated the government's commitment to reducing burdens on citizens. He urged parliamentary approval to enable revenue generation and service delivery.