In what appears to be a public rebuke of private petroleum tank owners in Liberia, Energy Economist and Director of Economic Regulation at the Liberia Electricity Regulatory Commission (LERC), Mr. Alieu Fuad Nyei, has slammed that high cost of petrol storage before recent adjustment, describing it as a “systemic robbery of the ordinary people.”
Mr. Nyei made the remarks via his official Facebook page, where he compared Liberia’s fuel storage rates with those of Zambia. His comments come just days after President Joseph Nyuma Boakai’s administration announced a new pricing framework for fuel storage and distribution across the country.
“Those who were complicit in this systemic robbery of us, the ordinary people, must bow in shame,” Nyei declared.
According to Nyei, prior to the pricing reforms, private petroleum tank owners in Liberia charged an estimated US$122.50 per metric ton of petrol for storage ~ a figure he claims was among the highest in the world.
By contrast, Nyei pointed to figures from Zambia’s Energy Regulatory Board, where the storage cost per metric ton is only US$9.48. Given that one metric ton equals about 350 gallons, Nyei emphasized the vast disparity in pricing, which he says unfairly burdened Liberian consumers.
Following the recent reforms, the cost paid to private tank owners has been drastically reduced to US$17.50 per metric ton ~ still nearly double Zambia’s rate but significantly lower than previous Liberian prices.
Presidential Directive Triggers Pricing Overhaul
The comments from Nyei came in the wake of a major policy directive issued by President Boakai on September 3, 2025, mandating a revised pricing structure for fuel storage and importation across Liberia. The directive, implemented by the Liberia Petroleum Refining Company (LPRC), introduced a standardized list of per-gallon fees aimed at enhancing transparency and affordability.
The new fee structure includes:
Storage Fees (All Terminals): $0.05
Road Fund (LRA): $0.30
Support for Counties’ Roads Equipment (LRA): $0.09
Government Social Program: $0.02
Inspectorate and Maintenance Fee (LPRC): $0.06
Vessel Discharge Fees (LPRC): $0.08
Testing Handling Fees (LPRC): $0.07
Importers’ Margin: $0.14
Retailers’ Margin: $0.20
The government says the reform is designed to balance affordable consumer prices with sustainable infrastructure funding, while addressing long-standing concerns over unregulated pricing in the petroleum sector.
Backlash from Business Leaders
However, the new policy has faced strong resistance from some members of the business community, most notably Musa Bility, CEO of Srimex Oil and Gas Company and a prominent political figure.
In a press release issued Tuesday, Bility accused the government of using the new policy to undermine local entrepreneurs in favor of the state-owned LPRC.
“This is a deliberate attempt to cripple Liberian entrepreneurs,” Bility charged. “The government must reverse course and engage in meaningful dialogue with stakeholders. What we are seeing here is not reform ~ it’s economic sabotage disguised as policy.”
Bility warned that the pricing overhaul could discourage investment, undermine energy security, and cost jobs in a nation already struggling with high unemployment and fragile economic conditions.
A Broader Debate on Energy Justice
As the debate over the new pricing framework intensifies, Nyei’s comments have struck a chord with many citizens who have long felt that fuel prices in Liberia were artificially inflated due to unchecked storage costs and monopolistic practices in the sector.
By drawing a direct comparison with Zambia ~ a fellow African country with a regulated fuel market ~ Nyei seeks to underscore the need for stronger regulatory oversight and fairer pricing mechanisms in Liberia’s petroleum industry.
“We deserve better,” Nyei concluded. “We must never allow a few to profit off the suffering of the many.”
With both public officials and private sector leaders now at odds, the Boakai administration faces growing pressure to strike a balance between reform and consensus, as it pursues broader efforts to stabilize Liberia’s energy sector.
