CAPITOL HILL -- In a late-night vote Thursday, the House of Representatives approved Liberia's 2026 national budget, endorsing LRD 247.8 billion--about US$1.249 billion--after hours of debate and a formal submission from the Joint Committee on Ways, Means, Finance and the Public Accounts Committee (PAC).
The passage came after Grand Gedeh District #1 Rep. Jeremiah Garwo Sokan offered the motion for approval, which was quickly and unanimously seconded. The final tally was 42 votes in favor, two against, with no abstentions--marking one of the Legislature's most consequential decisions this session.
Committee Says Budget "Ready for Passage"
Presenting its report, the Joint Committee said it conducted a thorough review of the draft before recommending passage.
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"After thorough scrutiny of the fiscal year 2026 draft budget, the Joint Committee is pleased to inform Plenary that the fiscal year 2026 budget is ready for passage," the report stated.
It confirmed the fiscal size at LRD 247,886,866,647.44, equivalent to US$1,249,665,191.15, based on the Central Bank of Liberia's average exchange rate of LRD 198.3 to US$1. The committee noted that payments during execution would follow the CBL's monthly published market rate.
Two Lawmakers Dissent, Cite Transparency Risks
Despite the overwhelming support, Rep. Musa Hassan Bility and Rep. Frank Saah Foko voted against the bill.
Bility argued that some revenue forecasts were "not grounded in realistic collection expectations," warning that overambitious projections could "create fiscal stress during execution."
Foko cited persistent weaknesses in financial reporting, reconciliation, and oversight of state-owned enterprises, saying "accountability mechanisms must come before budget approval, not after."
Their objections, though unsuccessful, underscored ongoing legislative concern over transparency in budget execution.
Inside the Fiscal Framework
The Joint Committee outlined the 2026 fiscal structure as follows:
Adjusted Revenue: US$1,249,665,191.15
Core Revenue: US$993,463,275.45
Contingent Revenue: US$256,201,915.70
Core Expenditure: US$993,463,275.45
Contingent Expenditure: US$256,201,915.70
The report reaffirmed that all tax revenues and fees must be deposited into the Consolidated Fund Account, consistent with statutory requirements.
Key Policy Measures in the 2026 Budget Act
The approved budget embeds several policy directives designed to strengthen governance, fiscal discipline, and domestic revenue mobilization.
Revenue & Administration
-- Mandatory monthly ECOWAS Levy deductions.
-- Full reconciliation of all transitory revenue accounts.
-- 5% revenue retention for the Liberia Immigration Service and Ministry of Labor.
-- 50% retention for the Liberia Telecommunications Authority.
Oversight & Governance
-- Quarterly financial and performance reports from all ministries, agencies, and SOEs.
-- No additions to government payroll without MFDP authorization.
-- Reconciliation of the Consolidated Fund Account due by March 31, 2027.
-- Enforcement of the US$0.30 Road Fund levy on petroleum imports.
Local Development & Procurement
-- Immediate transfer of Social Development Funds to county escrow accounts.
-- Mandatory 25% procurement allocation to Liberian-owned businesses.
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-- Revenue-sharing of excess real property taxes between central and local governments.
Leadership Praises Passage
Speaker Richard Nagbe Koon commended the Joint Committee for what he described as a "rigorous and exhaustive review process," noting that timely approval ensures ministries and agencies can begin planning for the next fiscal year without interruption.
Other lawmakers said the embedded structural reforms--if fully enforced--could improve revenue performance and strengthen fiscal discipline across government.
Next Stop: Senate Concurrence
With the House's approval, the budget now heads to the Liberian Senate for concurrence. Once endorsed by the upper chamber and printed into handbill, the spending package will serve as Liberia's financial blueprint for January 1 to December 31, 2026.
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