Monrovia — The Liberian Senate has confirmed Augustine Kpehe Ngafuan as the country's new Minister of Finance. Ngafuan, who previously held the position during former President Ellen Johnson-Sirleaf's administration, replaces Boima Kamara and has vowed to address the contentious Harmonization Policy inherited from the George Weah government.
Ngafuan's confirmation followed a hearing on September 5, where he outlined his vision for resolving salary discrepancies in the public sector and fostering a more equitable compensation framework. The harmonization policy, introduced under the Weah-led Coalition for Democratic Change (CDC) government to stabilize the wage system, has been a source of debate due to its impact on government payroll structures.
During his confirmation hearing before the Senate Committee on Ways, Means, Finance, and Budget, Ngafuan acknowledged the significant challenges ahead but pledged to take immediate steps to improve the current situation. "Though the challenges and expectations of the Liberian people remain huge, I do not hold a magic wand to change everything overnight, but I will take quick actions to make things better," Ngafuan stated.
He stressed the need for a multi-stakeholder approach to address Liberia's complex challenges and emphasized the importance of aligning national resources with development priorities. "We need to ensure that the resources we raise through domestic sources, grants, and loans are directed to our nation's priorities as identified in our development agenda," he added.
Ngafuan revealed plans to craft a credible national development agenda supported by the national budget, with the fiscal year 2025 budget set to align with these priorities. He pledged to generate substantial revenue under his leadership to address the country's development needs.
One of Ngafuan's key objectives is to review the Harmonization Policy in collaboration with the Civil Service Agency (CSA) and other government bodies to ensure the policy supports the current administration's goals for sustainable wage distribution. "A top priority as Minister of Finance will be to work with the CSA and other institutions to conduct a thorough review of the policy and its implementation," he asserted.
Ngafuan's confirmation was unanimous, with all 26 senators present voting in favor of his appointment.
His return to the Ministry of Finance is seen as a strategic move by President Joseph Nyuma Boakai's administration, leveraging Ngafuan's experience to drive fiscal reforms and address critical economic challenges. His plans include strengthening key sectors such as energy, mining, and infrastructure, while improving revenue generation and fiscal management.
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Ngafuan also emphasized the role of technology and digitization in improving revenue collection and closing financial gaps. He committed to pushing revenue-generating agencies to perform at their full potential while ensuring a balanced approach to avoid overburdening them.
Additionally, Ngafuan pledged to enhance the capacities of the Ministry of Commerce and Industry and the National Port Authority, aiming to streamline business registration processes and operations. He also expressed his commitment to supporting Liberia's climate action agenda by collaborating with the Environmental Protection Agency and other relevant stakeholders to tap into climate finance opportunities.
