Liberia’s Finance and Development Planning Minister, Augustine Kpehe Ngafuan, has announced a significant development initiative aimed at boosting the nation’s economic prospects. The government plans to mobilize US$2.1 billion from international development partners to address critical infrastructure gaps, particularly in electricity supply and road networks. This ambitious undertaking is projected to enhance investment opportunities, stimulate job creation, and ultimately improve the living standards of Liberians.
The current state of electricity access in Liberia stands at a mere 33%, a major impediment to economic growth and development. Recognizing this challenge, the government’s five-year development plan, known as ARREST, prioritizes expanding electricity access to at least 75%. This substantial increase in electricity availability is expected to significantly reduce the cost of doing business, enabling businesses to flourish and contribute to broader economic expansion. Improved electricity access will also empower households and communities, fostering improved living conditions and increased productivity.
Beyond electricity, the government is committed to addressing the inadequate road infrastructure across the country. Minister Ngafuan articulated a vision of a future where seamless travel on paved roads connects major cities, specifically highlighting the goal of enabling comfortable travel from Monrovia to Cape Palmas in Maryland County. This improved road connectivity will facilitate trade and commerce, opening up new markets and opportunities for businesses and entrepreneurs. Furthermore, it will enhance access to essential services such as healthcare and education, promoting social development and reducing regional disparities.
The Minister’s address to graduates of the Banking Institute of Liberia emphasized the potential for job creation arising from these infrastructure investments. He expressed confidence in the government’s plan, assuring graduates that both those currently employed and those seeking employment would benefit from the anticipated economic growth spurred by these initiatives. Minister Ngafuan underscored the link between the government’s development plan and individual career prospects, urging graduates to consider how the plan’s components connect to their aspirations and future opportunities.
While acknowledging the challenges facing the nation, Minister Ngafuan stressed the importance of maintaining a positive outlook. He encouraged Liberians to focus on the positive developments, citing the graduation of skilled professionals as a testament to the country’s progress. By highlighting successes and cultivating a sense of optimism, he conveyed a message of hope and progress, encouraging collective effort toward building a brighter future.
The Minister’s address also touched on the crucial role of integrity in professional life. He urged the graduates to uphold ethical standards, emphasizing that integrity is a cornerstone of success, particularly in the financial sector. He stressed that the graduates’ skills and knowledge, combined with integrity, would empower them to make significant contributions to Liberia’s economic development and build successful careers. The call for integrity served as a reminder of the importance of ethical conduct in both public and private sectors, highlighting its essential role in fostering trust and promoting sustainable growth.
