Gbarpolu County Senator Amara M. Konneh is asking for a proper overview session to judge Liberia’s funding incentive frameworks and their impacts on the nation.
By Stephen G. Fellajuah
Monrovia, Liberia; June 27, 2025 – Gbarpolu County Senator Amara M. Konneh has known as on the Liberian Senate to convene a proper overview session to judge the nation’s funding incentive frameworks and their broader financial and financial impacts, significantly in mild of Liberia’s evolving growth priorities.
In a communication submitted to Plenary and browse throughout session on Thursday, June 26, 2025, Senator Konneh addressed Senate President Professional-Tempore, Nyomblee Kangar-Lawrence, emphasizing the necessity to reassess insurance policies designed within the post-war period.
“We should assess whether or not these mechanisms are nonetheless related for Liberia at this time, versus the Liberia of twenty-three years in the past,” Senator Konneh acknowledged.
Following the nation’s extended battle, successive administrations launched a collection of incentives, together with tax exemptions, royalty reductions, and concession agreements, to draw overseas direct funding (FDI) and stimulate restoration. These measures have supported key sectors akin to mining, agriculture, forestry, and power, and helped generate employment alternatives.
Nonetheless, Senator Konneh questioned the long-term viability and impression of those incentives. Whereas acknowledging their preliminary advantages, he expressed concern that fiscal constraints now hinder the federal government’s means to spend money on public companies and infrastructure.
“As our nation continues its growth journey, the perpetuity of those incentives calls for crucial reassessment,” he stated. “Persistent income efficiency challenges restrict our capability to finance important public sector investments and spend money on Liberians.”
The senator additionally raised concern concerning the Nationwide Bureau of Concessions (NBC), which is tasked with monitoring the implementation of concession agreements. Regardless of its mandate, the lawmaker stated the Bureau has confronted delays in enforcement and oversight, contributing to financial losses and compliance gaps.
“The NBC should be empowered and held accountable to make sure that concessionaires meet their obligations in trade for the advantages they obtain,” he emphasised.
To handle these points, Senator Konneh additional proposed that the Senate set up a particular committee, supported by a legislative marketing consultant, to steer a complete overview. This initiative would contain collaboration with key government establishments, akin to Ministry of Finance and Growth Planning (MFDP), to current fiscal analyses and budgetary implications of present incentives.
Liberia Income Authority (LRA), to share the most recent Tax Expenditure Report detailing the income results of tax exemptions and concessions, and the Nationwide Funding Fee (NIC), to judge the effectiveness of present incentives in attracting and retaining investments.
Different committee members embody, Nationwide Bureau of Concessions (NBC), to supply updates on compliance monitoring and oversight mechanisms, whereas the Ministries of Mines & Power, Agriculture, and the Forestry Growth Company, to supply perception into sector-specific concession agreements and assess their financial and developmental impacts.
Konneh famous the timeliness of this effort, as some current incentives close to expiration and the Legislature prepares to think about new funding agreements throughout its fifty fifth session.
“We stand at a pivotal juncture. With international uncertainties affecting commerce, finance, and growth, Liberia should proactively form its future by aligning its pure endowments with sustainable and adaptable fiscal insurance policies,” he instructed Plenary.
He concluded that the proposed overview would assist establish areas for coverage reform, improve compliance, and optimize income era, significantly because the nation faces reductions in worldwide help.
“It is a crucial alternative to optimize Liberia’s funding local weather in a manner that delivers for each the state and the folks,” the Senator added. Modifying by Jonathan Browne
