MONROVIA — President Joseph Nyuma Boakai has ordered a major review of foreign participation in sectors traditionally reserved for Liberians, signaling a renewed push for economic nationalism and greater indigenous ownership of Liberia’s economy.
Addressing Cabinet ministers Thursday, May 7, during his administration’s 5th Cabinet Meeting and 4th Sitting, President Boakai expressed frustration over what he described as increasing foreign dominance in small-scale businesses that ordinary Liberians should be controlling.
“Over the years, businesses that were reserved for Liberians have been taken over by a lot of business people,” the President declared.
Boakai specifically instructed Vice President Jeremiah Kpan Koung to work with relevant stakeholders to examine how Liberians can regain greater participation in the domestic economy.
The President cited sand mining, water distribution, and petty trading as examples of sectors where Liberians are increasingly being displaced.
“You take people here mining sand, selling sand to us,” Boakai lamented. “You see people here selling water — take your own water and sell it to you.”
While clarifying that Liberia remains open to foreign investment, the President insisted that government must become more intentional about protecting economic opportunities for citizens.
“We have to be very intentional about businesses that are owned by Liberians,” he stressed.
The issue of foreign participation in Liberia’s economy has remained politically sensitive for decades. Liberia’s Business and Investment laws reserve certain categories of small-scale businesses exclusively for Liberian citizens, but enforcement has often been weak.
Successive governments have faced criticism for allegedly allowing foreign nationals to dominate retail trade, transportation, construction materials, and other low-capital sectors historically occupied by Liberians.
The debate intensified during the administration of former President George Weah, when concerns grew over increasing foreign involvement in petty commerce and street-level trade.
Now, the Boakai administration appears poised to revisit the issue more aggressively as part of its broader “Liberians First” economic agenda.
President Boakai also raised concerns about the lack of business partnerships among Liberians themselves, arguing that many citizens struggle to compete because they fail to pool resources and expertise.
“Liberians must begin to learn to team up,” he urged. “If you don’t have the resources, somebody might have the expertise.”
The President further called for business education and financial literacy programs targeting market women and small entrepreneurs.
“I’ve been thinking about how to help our people in the economy to do small, small businesses,” Boakai explained. “We need to teach them how to manage their resources.”
Analysts say the President’s comments reflect growing public pressure for stronger economic empowerment policies amid rising unemployment and increasing competition within Liberia’s informal economy.
The issue is also expected to become politically significant ahead of future elections, as debates intensify over jobs, foreign investment, and indigenous economic participation.
For many ordinary Liberians struggling economically, Boakai’s remarks may resonate strongly with longstanding frustrations about exclusion from meaningful economic opportunities in their own country.
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