Liberia has taken another giant step in complying with new standards of managing its extractive industries under the Extractive Industries Transparency Initiative (EITI). The Head of the Initiative congratulated the Government, the private sector in the extractive industries and activists of civil society who have together accomplished what he described as an incredible job to become one of the best countries implementing the new standards of the EITI.

Addressing the media following a meeting with Liberian President Ellen Johnson Sirleaf, Dr. Peter Eigen observed that too often problems associated with the use of natural resources are based on the greed of people, who like to get hold of these natural resources.

Dr. Eigen stressed the importance of Liberia to have in place good, transparent and honest governance structures to ensure the resources of the country benefit the people.

EITI Chairman Peter Eigen and President Ellen Johnson Sirleaf meet at the Foreign Ministry in Monrovia.

The visiting EITI chairman praised Liberia for the progress which he attributed to the commitment of political leadership in Liberia and the professionalism of the stakeholders' management group, whose tireless efforts have accelerated the progress Liberia has madein transparent, predictable, and stable governance. It is this rapid progress, Dr. Eigen emphasized, that has made Liberia a leader not only in Africa but globally in the extractive industry transparency sector.

The EITI executive has, meanwhile, disclosed that Liberia has been recommended to the Board of the Initiative to accept the validation process that has taken place in the country. If approved, Liberia will become the first African country to be compliant under the extractive industries initiative.

Azerbaijan, which hosts the next EITI Board meeting in two weeks, is the only country enjoying the EITI compliant status. Dr. Eigen described as tremendous the achievement Liberia has made and congratulated all who have contributed to the process.

Liberian President Ellen Johnson Sirleaf also commended the Liberia Extractive Industries Transparency Initiative (LEITI) team, headed by Cllr. Negbalee Warner, for the progress. The President expressed satisfaction that Liberia has performed very well in the process.

The President spoke of the commitment and dedication of the country's EITI team in the implementation of its functions, making sure that all concession agreements, all major contracts are vetted, "going beyond the mining sector where EITI started, but to include our forestry."

She continued, "If they had not been so diligent in making sure they get all those agreements and get them published and go after the companies, for the companies to report what monies they have paid, to the Government or to anybody else; they have done such a good job, that they've won Liberia a very high standing."

The President welcomed the visit to Liberia of Dr. Eigen and his delegation which, she noted, serves as a motivating factor to review the progress that would help Liberia continue on the path of progress.

Liberia, the President said, has excelled under the EITI program. She expressed hope that a similar program with more dedicated people would be able to work on the country's anti-corruption strategy. Government, the President said, remains committed to doing that.

Dr. Eigen and his EITI team arrived in the country on October 4 to review the progress Liberia has made since the country joined the Initiative two years ago. Liberia is one of 22 African countries serving as members of the Extractive Industries Transparency Initiative (EITI), whose membership consists of 30 countries worldwide.