By: Rufus S. Berry II, MBA
The recent revelation by the Minister of Finance and Development Planning regarding the potential loss of $50 million in USAID funding is a stark reminder of the vulnerabilities within Liberia’s economic and governance structures. While this setback will undoubtedly be painful in the short term, it also presents an opportunity for deep national reflection. Liberia must begin to move away from dependence on foreign aid and instead harness its own abundant resources with transparency, integrity, and a genuine commitment to national development.
Revisiting Liberia’s Concession Agreements
One of the major obstacles to Liberia’s financial independence is the manner in which its natural resources are managed. Concession agreements that should serve as engines of national growth have instead become tools for foreign exploitation and local corruption. Take Bea Mountain, for instance—while the company generates tens of millions in revenue, the Liberian people receive only a fraction of their country’s true worth.
Even more troubling is the case of Western Cluster Liberia (WCL). The decision to allow this company to truck iron ore from Bomi to the Freeport of Monrovia is not only economically questionable but also an affront to national development. A properly negotiated agreement could have ensured infrastructure investments such as railroads or value-added processing within Liberia. Yet, the current arrangement prioritizes corporate profit over national interest. Those lawmakers who pushed for and signed these agreements should be held accountable for their failure to protect the interests of the Liberian people.
APM Terminals, another major foreign concession, also requires urgent review. The cost of doing business at the Freeport of Monrovia remains excessively high, stifling trade and economic growth. How is it that a nation with such a strategic coastal position continues to struggle with high import and export costs? The answer lies in poorly negotiated agreements that prioritize foreign investors over national prosperity.
Do We Really Need 15 Counties?
Beyond concession agreements, Liberia must also confront an uncomfortable but necessary question: Can we afford 15 counties? Governance should be structured for efficiency, not for the mere purpose of political patronage. If we applied rigid economic criteria to determine county status, would Bomi, Grand Kru, Gbarpolu, River Gee, and Rivercess qualify? What is their economic viability outside of maintaining an oversized government structure?
The reality is that Liberia’s administrative divisions must be reassessed. Instead of a system that creates positions for politicians while adding no real value to national development, resources should be redirected toward productive sectors—education, healthcare, infrastructure, and industrialization.
The True Wealth of Liberia
Liberia is not a poor country—it is a country that has been mismanaged for generations. The greatest tragedy of our time is not the lack of resources but the lack of vision and the absence of leadership that prioritizes national interest over personal enrichment.
If corruption and wasteful spending were effectively tackled, Liberia would not need to rely on foreign aid. Our country is blessed with vast mineral wealth, fertile agricultural land, and an enviable coastline for trade and tourism. Yet, rather than developing innovative strategies to generate billions in revenue, we continue to beg for aid while allowing foreign companies to extract our resources with little benefit to the Liberian people.
This is not just an economic issue—it is a mindset issue. Until we, as a people, take ownership of our destiny, no foreign aid, concession agreement, or government administration will be able to lift Liberia out of poverty.
The Path Forward: A Call to Leadership
The administration of President Joseph Boakai has an opportunity to make bold decisions that will transform Liberia. This requires strong political will, a commitment to renegotiating exploitative concession agreements, and a relentless fight against corruption. It also demands a shift in mindset among Liberians—to think critically, work diligently, and demand accountability at all levels.
The road to national transformation will not be easy. It requires sacrifice, discipline, and a rejection of short-term personal gain for long-term national prosperity. But if we commit to this path, Liberia can—and will—emerge as a strong, self-sustaining nation that no longer needs to depend on foreign aid.
The time for excuses is over. The time for action is now.
