{"id":55694,"date":"2024-04-11T16:51:07","date_gmt":"2024-04-11T16:51:07","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/integrity-watch-liberia-reveals-over-us15-million-annual-revenue-from-sand-mining-industry-urges-policy-action"},"modified":"2024-04-11T16:51:07","modified_gmt":"2024-04-11T16:51:07","slug":"integrity-watch-liberia-reveals-over-us15-million-annual-revenue-from-sand-mining-industry-urges-policy-action","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/integrity-watch-liberia-reveals-over-us15-million-annual-revenue-from-sand-mining-industry-urges-policy-action","title":{"rendered":"Integrity Watch Liberia Reveals Over US$15 Million Annual Revenue from Sand Mining Industry, Urges Policy Action"},"content":{"rendered":"

Africa-Press – Liberia. <\/strong><\/span>Recent findings from Integrity Watch Liberia have revealed that seven sand mining and quarrying companies generate over US$15 million annually, yet citizens see little benefit from this lucrative industry.<\/p>\n

Integrity Watch Liberia, acting as the Secretariat of the African Parliamentary Network on Illicit Financial Flows and Taxation (APNIFFT) chaired by River Gee County Senator Francis Dopoe, presented these findings along with recommendations on Wednesday, April 10, 2024, at the Capitol Building in Monrovia.<\/p>\n

Harold Aidoo, Executive Director of IWL, highlighted the comprehensive study conducted on the sand mining and quarrying sector. He emphasized the varied financial landscape within the industry, analyzing revenue data across multiple companies and fiscal years. Aidoo noted significant disparities in operational scales and market impacts.<\/p>\n

The findings revealed staggering revenue figures for companies like Ever Bright Sand Mining Beach and Fengshou Quarry, while smaller entities like Grass Field River Sand Mining Corporation operated at more modest levels.<\/p>\n

Further analysis showed fluctuations in revenue from sand mining and quarrying activities in Montserrado and Margibi Counties over a four-year period from 2020 to 2023. Despite fluctuations, Aidoo stressed the industry\u2019s importance in contributing to domestic revenue mobilization.<\/p>\n

He urged policymakers to implement measures to stabilize revenue streams, including improving regulatory frameworks and promoting sustainable practices.<\/p>\n

Aidoo also addressed the role of tax incentives in attracting investments within the extractive industries, highlighting substantial revenue losses for Liberia due to tax expenditures, particularly in the mining sector.<\/p>\n

Senator Francis Dopoe commended Integrity Watch Liberia for their research, acknowledging its timeliness and importance in informing legislative decisions. He pledged to act on the recommendations to rectify issues within the sector.<\/p>\n

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

Africa-Press – Liberia. Recent findings from Integrity Watch Liberia have revealed that seven sand mining and quarrying companies generate over US$15 million annually, yet citizens see little benefit from this lucrative industry. Integrity Watch Liberia, acting as the Secretariat of the African Parliamentary Network on Illicit Financial Flows and Taxation (APNIFFT) chaired by River Gee […]<\/p>\n","protected":false},"author":84,"featured_media":55692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-55694","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":"\nIntegrity Watch Liberia Reveals Over US$15 Million Annual Revenue from Sand Mining Industry, Urges Policy Action - Liberia<\/title>\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\/integrity-watch-liberia-reveals-over-us15-million-annual-revenue-from-sand-mining-industry-urges-policy-action\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Integrity Watch Liberia Reveals Over US$15 Million Annual Revenue from Sand Mining Industry, Urges Policy Action\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Liberia. 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