Liberia Breaks US$1B Revenue Barrier | Business

Minister of Finance and Development Planning Augustine Kpehe Ngafuan says the true measure of Liberia’s domestic revenue mobilization should not be limited to the amount of money collected by the government, but rather the extent to which those resources improve the lives and well-being of ordinary Liberians.

Minister Ngafuan made the assertion Monday in Harper Maryland County, when he served as Guest Speaker for Tubman University 17th founder’s day program moment after Liberia surpassed the US$1 billion threshold in domestic revenue mobilization, marking a significant milestone in the Government’s ongoing efforts to strengthen domestic resource mobilization and improve fiscal sustainability.

“The true measure of revenue is not what enters the government’s account; it is what enters the lives of the citizens,” Minister Ngafuan averred. 

He said the achievement should be viewed not merely as a financial or statistical milestone, but as an opportunity to translate increased domestic resources into tangible improvements in the lives of all Liberians.

According to him, the ultimate objective of mobilizing more domestic revenue is to create the fiscal space needed for the government to finance national development priorities, strengthen public services, improve infrastructure, and address the needs of citizens across the country.

The achievement comes amid renewed efforts by the Ministry of Finance and Development Planning, the Liberia Revenue Authority, and other government institutions to improve revenue collection, strengthen compliance, broaden the tax base, reduce leakages, and enhance efficiency in the country’s revenue administration system.

Minister Ngafuan has consistently emphasized that a stronger domestic revenue system is essential to reducing Liberia’s dependence on external financing and ensuring that the government has greater capacity to fund its development agenda.

He acknowledged the contribution of taxpayers, businesses, revenue-collecting agencies, and other stakeholders whose compliance and cooperation have helped strengthen the country’s domestic revenue performance.

While celebrating the achievement, Minister Ngafuan cautioned that the collection of revenue should not become an end in itself, but citizens must ultimately see the benefits of their tax contributions through improved roads, healthcare, education, electricity, water and sanitation, agriculture, job opportunities, and possible delivery of other essential public services.

“When we say it’s about what enters the lives of the citizens, we are simply talking about when salaries are paid in time, Medicine in hospitals, scholarships are provided for young people, roads are paved, electricity is available, and other basic social services provided to citizens”  

As Liberia celebrates the crossing of the US$1 billion threshold, Minister Ngafuan remarks to place emphasis on accountability and the social contract between citizens and the Government emphasizing that citizens who pay taxes and contribute to the national economy should be able to see and feel the impact of those contributions.

He explained that the government is expected to continue working with the LRA and other stakeholders to consolidate the gains recorded in domestic revenue mobilization while pursuing further opportunities to expand the country’s revenue base.