The National Oil Company of Liberia (NOCAL) recently presented an impressive progress report to President Joseph Nyuma Boakai, Sr., at the Executive Mansion in Monrovia on a partnership with TGS NOPEC, a global geological and geophysical leader.
Reading the report to the President, cabinet minister, and industrial leaders, the Acting ECO of NOCAL, Fabian Lai, said the 23-year collaborative venture has positioned Liberia as West African's most promising energy frontier, resulting in acquisition of multi-client 2D and 3D seismic survey program. The investment covers more than 15,000 square kilometers of the country's offshore basin, CEO Lai detailed.
He also disclosed the economic impact of the partnership, stating that Liberia currently enjoys 80 percent of revenues from 3D data sales, which has significantly bolstered government's financial resources, enhancing public services and development.
The report sounds very promising and motivating, but we think Liberians should celebrate with cautious, given past experiences at NOCAL under this very ruling Unity Party-led government then led by former President Ellen Johnson Sirleaf, when plunder, cronyism, lavish spending and uncontrollable corruption racked this promising public entity, and shattered dreams and aspiration of ordinary citizens.
NOCAL eventually collapsed under the watch of the former President with her son, Robert Sirleaf, serving at the helm of the entity. Madam Sirleaf took responsibility and that was end of story, for what should have been a great game-changer in post-war Liberia socio-economic development. The rest is history.
But here we are again, with a revised NOCAL under a new administration that has begun to inspire hope in Iberians amidst ongoing widespread corruption in the government, particularly so when the President and Chief Executive Officer Madam Rustonlyn Suakoko Dennis is under suspension over allegation of corruption, financial mismanagement and abuse of public office.
This followed recommendation by the Board of Directors that called for investigation into the purchase of SUV valued US$75,000 and other financial irregularities when feces flow our streets like a mighty stream of river.
CEO Lai talked of corporate social responsibility efforts initiated by NOCAL as a result of the partnership with TGS NOPEC. Revealing an annual contribution of US$200,000 for social welfare programs, which we think is a drop in the ocean. But our mind runs to the Sharon-sponsored recreation park right at the entrance of the Gabriel Tucker Bridge in Via Town that reportedly cost over US$1million under the collapsed NOCAL. No assessment of that place does not indicate that the facility even worth US$500,000.
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This is why we are sounding an early caution to the Lai-led NOCAL to exert a great departure from the previous NOCAL under Madam Sirleaf md her son, Robert, for that was not a pleasant experience. And we don't want a re-occurrence.
We want hold CEO Lai by his words that the current partnership with TGS NOPEC is not just about data sales and profits but empowering citizens and building a future that eluded them under former CEO Robert Sirleaf, so that Liberians can have an opportunity to lead their energy sector. This we believe strongly would frog-leap their socio-economic wellbeing.
Not that we do not have confidence in CEO Lai and his team of officials in managing our energy sector, but experiences of the past are or should be very good lessons to propel us into the future that is filled with uncertainties and surprises.
