MONROVIA, Liberia — Finance and Development Planning Minister Augustine Kpehe Ngafuan has reaffirmed the Government of Liberia’s determination to strengthen domestic revenue mobilization, declaring that economic growth must translate into “bread and butter” outcomes for ordinary Liberians.
Speaking Thursday, February 5th, at the official launch of the Institutional Support for Enhanced Domestic Revenue Mobilization and Reform Implementation Project (ISEDRMP) and the Debt and Ownership Transparency Technical Assistance Project (DOT-TAP) at the Corina Hotel in Monrovia, Minister Ngafuan said Liberia has reached a point where it must increasingly finance its development priorities from its own resources.
“We must bake the bread before we can share it,” Ngafuan said. “Domestic revenue mobilization is not optional. It is the foundation for delivering roads, schools, healthcare, justice, and security to our people.”
The two projects, financed by the African Development Bank (AfDB), carry a combined value of approximately US$19.6 million and are designed to strengthen tax administration, public financial management, debt transparency, beneficial ownership disclosure, and institutional accountability across government.
Ngafuan disclosed that Liberia raised US$848 million in domestic revenue in 2025, the highest in the country’s history, surpassing its target by more than US$43 million. He said the achievement demonstrates that Liberia can reduce overdependence on external aid if reforms are sustained.
“2024 broke records. 2025 broke records again. And in 2026, with a US$1.2 billion national budget, we intend to break them again,” he declared.
The Finance Minister emphasized that GDP growth—estimated at 5.1 percent in 2025—must be matched by improved revenue capture, especially from high-performing sectors such as mining.
“There is a difference between a sector contributing to GDP growth and the government earning revenue from that sector,” Ngafuan noted. “This project will help us close leakages, strengthen compliance, and ensure that growth works for the people.”
He also highlighted the project’s role in preparing Liberia for the transition to a Value Added Tax (VAT) system, modernizing revenue collection through digital platforms, and strengthening institutions such as the Liberia Revenue Authority, Ministry of Mines and Energy, Liberia Anti-Corruption Commission, and the Judiciary.
Ngafuan said judicial reforms supported under the project—particularly digitization and court management systems—will boost investor confidence by accelerating dispute resolution and enforcement of contracts.
“The faster and more credible our courts are, the stronger our investment climate becomes,” he said.
The Finance Minister pledged to personally monitor project implementation, warning that delays in disbursement and execution would undermine reform gains.
“This is the year of sprinting, not running,” Ngafuan stressed. “Today must be better than yesterday, and tomorrow better than today.”
The launch ceremony brought together senior government officials, including Justice Minister Cllr. N. Oswald Tweh, Minister of State without Portfolio Mamaka Bility, heads of beneficiary institutions, and representatives of the African Development Bank, who reaffirmed their confidence in Liberia’s reform trajectory.
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