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Liberia finally released Extractive Industries Report

Johnathan Grigsby/Jos Garneo Cephas

MONROVIA, LIBERIA-The Liberia Extractive Industries Transparency Initiative (LETTI) has released its 9th Extractive Transparency Initiative Report.

The report covers the oil, mining, forestry and agriculture sectors of Liberia.

The report comes following the suspension of Liberia by the Extractive Industries Transparency Initiative EITI) in September 2018 due to Liberia’s reported failure to publish it in 2018 from the fiscal period of June 2016 to the July 2018 deadline.

The decision followed a request by the Liberian Government to extend the reporting deadline set by the EITI standard, something which failed to meet the criterion for granting an extension by the Board.

During the released of the report Monday, January 7, 2019 in Monrovia, the Steering Group Chairman, Mick Doryen said: “ A total of US 566.37million is generated in Liberia’s Extractive Industries Transparency Initiative during the 2015/2016 fiscal years”.

Mr. Doyen however, disclosed that there was a decreased in in the direct government revenue in 2015/2016 due to the fall in the prices of Liberia’s major export commodities on the global market.   

 


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