Monrovia – Members of the Multi Stakeholders Group of the Liberia Extractive Industries Transparency Initiative have unanimously approved and launched the 16th LEITI Country Report, reinforcing national efforts to promote transparency, accountability and improved governance in the country’s extractive sector.
By J.H. Webster Clayeh, [email protected]
The report was officially launched during the fourth sector meeting of the Multi Stakeholders Group held at the LEITI headquarters on Capitol Hill in Monrovia. The event was presided over by the Chairman of the MSG and Minister of Mines and Energy, R Matenokay Tingban, who described the approval and release of the report as a significant milestone in Liberia’s journey toward stronger oversight of its natural resources.
Minister Tingban said the launch of the report represents an important step in ensuring that citizens have access to clear and reliable information about revenues generated from mining, agriculture, forestry and oil and gas activities. He explained that the report will be widely disseminated across the country to engage citizens, civil society organizations and local communities in discussions about its findings and to solicit feedback on ways to further strengthen governance in the extractive sector.
He noted that the approval of the 16th LEITI Country Report also sets the stage for an upcoming retreat of the Multi Stakeholders Group to be held in Grand Bassa County. According to him, the retreat will focus on reviewing, discussing and approving validation templates that are required ahead of Liberia’s next international assessment under the Extractive Industries Transparency Initiative framework.
Minister Tingban reminded stakeholders that Liberia is scheduled to undergo validation by the EITI International Secretariat beginning January 1, 2026. He said the MSG views the validation exercise as a crucial step in measuring the country’s progress in implementing EITI standards and reaffirmed the group’s commitment to working closely with the international secretariat to ensure that Liberia is fully prepared for the process.
Providing details on the preparation of the report, Minister Tingban said the 16th LEITI Country Report was produced by BDO UK in collaboration with HIB Liberia using the conventional reporting framework, which requires detailed reconciliation of financial and non financial data submitted by extractive companies and relevant government institutions. He added that Millennium Partner Liberia was contracted to update the Simplified Contract Matrix and to produce a compliance investigation report, while Master Stroke Liberia developed a new online data portal with support from the Government of Liberia.
According to the report, total revenues generated from the extractive sector and received by the Government of Liberia between January 1 and December 31, 2023, amounted to 152.46 million United States dollars. The mining sector remained the largest contributor, generating 121.49 million dollars, followed by agriculture with 23.97 million dollars. Forestry contributed 6.45 million dollars, while the oil and gas sector generated approximately 550,000 dollars during the reporting period.
The report also indicates that export values from the extractive sector totaled 1.35 billion United States dollars in 2023. Gold emerged as the leading export commodity with a value of 660.34 million dollars, followed by iron ore at 482.7 million dollars, rubber at 103 million dollars, crude palm oil at 82.79 million dollars and diamonds at 17.91 million dollars.
Further analysis in the report shows that Bea Mountain recorded gold exports valued at 691.25 million dollars, Western Cluster exported iron ore valued at 93.48 million dollars and ArcelorMittal Liberia recorded iron ore exports totaling 271.05 million dollars during the year under review.
On employment, the report reveals that the extractive sector provided 19,345 jobs in 2023, made up of 16,602 men and 2,743 women. It also notes that Bea Mountain employed 1,110 permanent foreign workers during the reporting period, a figure that highlights workforce dynamics within the sector.
One of the key findings of the report is the identification of suspicious transactions involving the Liberia Petroleum Regulatory Authority, ArcelorMittal Liberia and the Liberia Revenue Authority. In response to these findings, the Multi Stakeholders Group has instructed the LEITI Secretariat to forward the matter to the Liberia Anti Corruption Commission for investigation.
Minister Tingban expressed appreciation to all stakeholders, particularly the Government of Liberia, for their continued support of the LEITI process. He also commended the LEITI Secretariat for its dedication and professionalism despite operational challenges encountered during the reporting period.
He warned government institutions and private sector actors against non compliance with LEITI reporting requirements, stressing that the LEITI Act mandates full cooperation from all reporting entities. He cautioned that refusal to comply with reporting obligations constitutes a violation of the law and said appropriate actions would be taken as Liberia moves closer to the 2026 validation.
During the meeting, the Head of the LEITI Secretariat, Jeffrey Yates, presented the newly developed LEITI Data Portal along with the updated Simplified Contract Matrix. He said the tools are designed to enhance public access to information, strengthen oversight and deepen transparency in Liberia’s extractive industry as the country advances toward full compliance with international EITI standards.
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