Africa-Press – Liberia. President Joseph Boakai endorsed a bold new policy by the Liberia Petroleum Refinery Company (LPRC) to import petroleum products directly, a move aimed at curbing persistent market failures and stabilizing fuel prices across the country.
Speaking of the initiative, Boakai—himself a former employee of the LPRC—expressed confidence that the state-owned entity is poised to meet the growing demands of ordinary Liberians.
“We are fortunate that there has been no shortage,” the President said. “We are sure this new policy move will improve service delivery.”
For years, the importation of petroleum products into Liberia has been franchised by private companies. However, rising global fuel costs, market inefficiencies, and periodic shortages have strained the system, prompting the government to reconsider its approach. The President’s endorsement signals a significant shift in Liberia’s energy policy, one intended to promote affordability, security, and competition.
At the center of the change is Amos Tweh, the LPRC’s Managing Director, who has led negotiations with Starcom Energy and Trading Limited, a global commodity trading firm based in Ghana and the United Arab Emirates. The partnership marks what Tweh called “a milestone achievement” since the founding of the LPRC.
“The LPRC Management, with the approval of the Board, deems it necessary to begin the importation of petroleum products into the Liberian market,” said Tweh, aligning the move with the Boakai administration’s broader agenda to improve livelihoods by ensuring access to basic commodities.
For years, petroleum importers in Liberia operated in a quasi-monopolistic environment, controlling the supply chain with little public oversight. The result was frequent shortages, price hikes, and, under the previous administration, widespread criticism from citizens over fuel unavailability.
Critics within the importing community have alleged that the new government-backed arrangement could lead to job losses, although they have offered no evidence to support this claim. Market analysts, however, see the LPRC’s decision as a corrective measure that could inject much-needed competition and discipline into a sector.
“This monopoly is dangerous to the economy,” said one economic analyst. “The President and LPRC are moving in the right direction. Direct importation by a state entity will relieve pressure on consumers and ensure market stability.”
Starcom Energy, now the LPRC’s international partner, is one of the leading petroleum product suppliers in the ECOWAS and Americas regions. The company has a strong track record in petroleum logistics, particularly in Ghana, and operates outside of Dubai and Accra.
Although global oil prices remain volatile, one analyst who prefers annonimity said that Boakai’s decision to return to the LPRC’s market intervention strategy could be a turning point for Liberia’s fuel economy.
Varney Dukuly is an award winning Liberian Journalist
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