1 July 2014

Liberia: LEITI Releases Fifth Annual Report

The Liberia Extractive Industries Transparency Initiative (LEITI) has released its 5th Annual Activity Report for 2013 and 2014 respectively. The launch of the Annual Report, which took place yesterday, June 30, 2013 at the LEITI head office on Capitol Hill, in Monrovia, brought together officials of government and members of the Multi- Stakeholder Steering Group (MSSG).

Speaking at the launch, the proxy of the co-chairperson of the Multi-Stakeholders Steering Group, Mr. Stephen B. Dorbor, noted that the publication of the LEITI Report was one of the core functions of the institution, and that it was required that public disclosure of revenue and tax payment data from the extractive sector be made.

Mr. Dorbor, the Deputy Minister for Planning and Resource Development at the Ministry of Land Mines and Energy, said the launch was intended to promote transparent resource management to Liberians benefiting from the proceeds of their resources.

"This report contains reconciled accounts of payments made as revenues received by the Government of Liberia from the oil, mining, foster and Agriculture companies during the fiscal year July 1, 2011, including June 30, 2012," further noting: "this report shows that the total amount received by nine(9) agencies of government from the oil, mining, foster, and agriculture sectors for the period under review amounted to one hundred and ten million, one hundred, forty six thousand, six hundred and fifty-seven united state dollars(US$110,146,657), while payment supplied by eighty(80) companies amounted to one hundred million, eight hundred and nine thousand, eight hundred and nineteen united state dollars(US100,809,819), which meant that the Government of Liberia acknowledged receiving Nine million, three hundred thirty-six thousand, eight hundred and thirty united state dollars(US9,336,830)more in revenues than what the companies reported as taxes paid," he said.

According to Minister Dorbor, the preparation of the report and its launch today were not the end of the campaign, but part of its will to take up the process to discuss the findings of the report with citizens, as well as solicit their views on the recommendations as they are the true owners of the resources.

"Because the launch of the report will be followed by massive dissemination exercise, including extensive outreach throughout the fifteen counties of Liberia; because the once findings are secured, the MSG is committed to further reviewing the findings and recommendation of the report with the aim of identifying areas for policy implementation."

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