NATIONAL NEWS
MONROVIA – Finance Minister Augustine Kpehe Ngafuan has called for stronger domestic resource mobilization and improved public spending as Liberia seeks to build resilience against growing global economic and environmental crises.
By: Trokon S. Wrepue – trokon1992seokin@gmail.com
Minister Ngafuan made the call during a High-Level Development Dialogue held under the theme, “Navigating Development in a World of Crises: Resilience, Equity, and Planetary Stewardship.”
He said Liberia is pursuing development at a time when the world continues to face conflicts, economic uncertainty, declining development assistance, climate shocks, disrupted supply chains and rising food and energy prices.
According to the Finance Minister, global crises inevitably affect Liberia, making it necessary for the country to strengthen its ability to withstand external shocks without abandoning its development goals.
“Global turbulence eventually finds a local address. When conflict thousands of miles away pushes up oil prices, the impact eventually reaches the taxi driver and kehkeh rider in Monrovia.”
Ngafuan said Liberia’s experience with civil conflict, Ebola, COVID-19, commodity shocks and economic downturns demonstrates the need to prepare for crises before they occur.
“We cannot always prevent the next shock, but we can determine how prepared we are when it comes.”
He said resilience must be built through stronger institutions, sound public financial management, improved infrastructure, agriculture, education and healthcare, as well as economic diversification.
Liberia Nears Historic US$1 Billion Domestic Revenue Target
The Finance Minister identified development financing as one of the major challenges facing Liberia, noting that the country’s development needs are increasing while traditional sources of external financing are becoming more limited.
He said Liberia remains grateful to its bilateral and multilateral development partners but must increasingly strengthen its ability to finance national priorities using domestic resources.
“Every additional dollar we legitimately mobilize through stronger tax administration, improved customs systems, reduced leakages, better management of natural-resource revenues and broader economic activity gives Liberia greater control over its development destiny.”
Ngafuan disclosed that the government’s domestic resource mobilization efforts are producing results, with Liberia set to reach the historic US$1 billion domestic revenue target this month.
However, he stressed that raising more revenue must be matched by better management and use of public resources.
“The question cannot simply be, ‘How much did government spend?’ The better question is, ‘What did the Liberian people get for what government spent?’”
He said government spending should translate into tangible improvements, including roads, electricity, classrooms, medicines, agricultural productivity and jobs.
The minister also called for greater innovation in mobilizing external financing through concessional resources, partnerships with institutions such as the World Bank and African Development Bank, responsible private-sector investment and the development of bankable projects.
Development Must Benefit Ordinary Liberians
Ngafuan also emphasized the importance of equity, saying economic shocks do not affect all citizens equally.
He argued that macroeconomic stability must be accompanied by social protection and development initiatives that directly improve the lives of ordinary Liberians.
“Development must have a human face.”
He said development must reach citizens across the country, including farmers, market women, fishermen, entrepreneurs and families seeking healthcare.
The minister particularly highlighted Liberia’s young population, describing it as a potential national asset if the government invests adequately in education, skills development, agriculture, entrepreneurship, technology and job creation.
“Without opportunity, youthfulness can generate frustration. With opportunity, it becomes a demographic dividend.”
Ngafuan Links Environmental Protection to Economic Growth
On environmental sustainability, the Finance Minister said Liberia must reject the idea that economic development and environmental protection are competing priorities.
He described Liberia’s forests, coastline, biodiversity, water resources and ecosystems as both environmental and economic assets that must be protected for future generations.
“The real question is: How do we develop today without destroying tomorrow?”
Ngafuan said Liberia’s forests must generate economic value without being destroyed, while mineral resources should contribute to national prosperity without leaving behind environmental devastation.
He also called for sustainable urban development and an energy transition that expands access while moving toward cleaner and more sustainable sources.
“We are not owners of Liberia only for ourselves. We are trustees for Liberians yet unborn.”
Minister Urges Stronger Partnerships and Accountability
Ngafuan further stressed the importance of partnerships and public trust in advancing Liberia’s development agenda.
He called for continued cooperation with the United Nations, World Bank, African Development Bank, bilateral partners, civil society and the private sector, while urging government to strengthen transparency, accountability, procurement systems and public financial management.
“Because trust is also development capital.”
According to Ngafuan, stronger public trust can encourage greater cooperation among citizens, investors, government and development partners while ensuring that development resources produce measurable results.
Liberia Must Maintain Its Development Ambitions
In concluding his remarks, the Finance Minister said Liberia cannot control global conflicts, international oil prices, donor-country budgets or climate change, but the country can determine how prepared it is to respond to those challenges.
“We can determine how prepared we are.”
He urged Liberia to strengthen its institutions, mobilize more domestic resources, invest productively, diversify the economy, protect vulnerable populations, manage natural resources responsibly and deepen national and international partnerships.
“The turbulence around us should not cause Liberia to lower its development ambitions. It should cause us to strengthen the foundations beneath those ambitions.”
Ngafuan said Liberia’s development should ultimately be judged not only by its progress during periods of stability, but also by its ability to remain on course when confronted by major challenges.
“Our task is therefore to build a Liberia that can withstand shocks without losing direction; pursue prosperity without leaving people behind; and use the gifts of nature without stealing the inheritance of future generations.”
