{"id":25919,"date":"2022-11-02T16:51:12","date_gmt":"2022-11-02T16:51:12","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007"},"modified":"2022-11-02T17:19:50","modified_gmt":"2022-11-02T17:19:50","slug":"leiti-gol-has-realized-us1-64bn-in-revenue-since-2007","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007","title":{"rendered":"LEITI: \u201cGoL Has Realized US$1.64bn in Revenue Since 2007\u201d"},"content":{"rendered":"

Africa-Press – Liberia. <\/strong><\/span>The head of Secretariat at the Liberia Extractive Industries Transparency Initiative (LEITI), Jeffery Yates, has revealed that the government of Liberia has received US$1.64bn in revenue since the Initiative was established in 2007.<\/p>\n

According to Yates, the highest amount of revenue received by the government and verified by LEITI was US$185 million between 2012-2013. Yet, the LEITI remains underfunded, with one assigned vehicle for seven years; its office in dire need of renovation and lack of computers.<\/p>\n

\u201cDue to the Coronavirus virus pandemic in 2020 to 2021, financial assistance from donors was not available,\u201d Yates said when he recently appeared before the Plenary of the Liberian Senate, sitting as a Committee of the Whole.<\/p>\n

The LEITI head of Secretariat was last week cited to appear before the Committee of a Whole to provide requisite information on the status of its work including compliance issues of the various mining and logging companies, as well as work plan. Taking the witness stand, Yates told members of the Senate that he saw his appearance as an opportunity to interact with the august body, having served at the helm of the LEITI for a little over one year now.<\/p>\n

A Senate Press and Public Affairs release says the information of Yates to the Senate was centered around achievements, impacts on the economy, government support to the entity as well as challenges.<\/p>\n

He told the Senate that the entity\u2019s cardinal responsibility is to ensure global standards for transparency and accountability in the reporting of revenue from the country\u2019s natural resources.<\/p>\n

Yates also said that this will not only help to improve the investment climate of the country but also increase Government Revenue and, at the same time, ensure that the benefits due the communities on account of the extraction of their natural resources are duly paid to them.<\/p>\n

He was however quick to note that the entity must ensure that it scores high in the next validation exercise that is due in 2024.<\/p>\n

Commenting on the challenges of the entity, the LEITI Head of Secretariat pointed to the lack of adequate budgetary support to purchase essential materials for the effective running of the entity. He named lack of computers, vehicles and other office equipment as some of the basic material lacking at the entity.<\/p>\n

During interaction on the Senate floor, Senators pledged their commitment to assist the LEITI to achieve its objectives in ensuring transparency and accountability in the extractive sector.<\/p>\n

He told the Senate that the entity\u2019s cardinal responsibility is to ensure global standards for transparency and accountability in the reporting of revenue from the country\u2019s natural resources.<\/p>\n

This, Yates asserted, will not only help to improve the investment climate of the country but also increase Government Revenue, and at the same time ensure that the benefits due the communities on account of the extraction of their natural resources are duly paid to them.<\/p>\n

He was however quick to note that the entity must ensure that she scores high in the next validation exercise that is due in 2024. Commenting on the challenges of the entity, the LEITI Head of Secretariat pointed to the lack of adequate budgetary support to purchase essential materials for the effective running of the entity.<\/p>\n

The invitation to LEITI to appear before the Senate Plenary is in furtherance of the earlier commitment made by the President Pro-tempore, Senator Albert T. Chie, that the Liberian Senate will promote the work of LEITI and assist it by the provision of additional working resources through the National Budget.<\/p>\n

Against this backdrop, Yates said, he and his team will closely collaborate with the Legislature, especially the Liberian Senate, during the budget process for the support needed to help the entity realize its full potential.<\/p>\n

Meanwhile, Yates disclosed that the entity has plans to forge partnership with the Liberian Senate for easy access to concession agreements, which he said have been very difficult to obtain over the years, thus making the timely review of concession documents difficult.<\/p>\n

For More News And Analysis About Liberia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Liberia. The head of Secretariat at the Liberia Extractive Industries Transparency Initiative (LEITI), Jeffery Yates, has revealed that the government of Liberia has received US$1.64bn in revenue since the Initiative was established in 2007. According to Yates, the highest amount of revenue received by the government and verified by LEITI was US$185 million […]<\/p>\n","protected":false},"author":84,"featured_media":25918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-25919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"\nLEITI: \u201cGoL Has Realized US$1.64bn in Revenue Since 2007\u201d - Liberia<\/title>\n<meta name=\"description\" content=\"The head of Secretariat at the Liberia Extractive Industries Transparency Initiative (LEITI), Jeffery Yates, has reveale ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LEITI: \u201cGoL Has Realized US$1.64bn in Revenue Since 2007\u201d\" \/>\n<meta property=\"og:description\" content=\"The head of Secretariat at the Liberia Extractive Industries Transparency Initiative (LEITI), Jeffery Yates, has reveale ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007\" \/>\n<meta property=\"og:site_name\" content=\"Liberia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-02T16:51:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-02T17:19:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2022\/11\/postQueueImg_10-6362a694c730c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"LEITI: \u201cGoL Has Realized US$1.64bn in Revenue Since 2007\u201d\",\"datePublished\":\"2022-11-02T16:51:12+00:00\",\"dateModified\":\"2022-11-02T17:19:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007\"},\"wordCount\":684,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2022\/11\/postQueueImg_10-6362a694c730c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Liberia\",\"Liberia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007\",\"url\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/leiti-gol-has-realized-us1-64bn-in-revenue-since-2007\",\"name\":\"LEITI: \u201cGoL Has Realized US$1.64bn in Revenue Since 2007\u201d - 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