By: Archie Boan
The Liberian Senate has kicked off intensive revenue hearings on the Draft FY2026 National Budget, signaling a stronger push for transparency, realistic projections, and measurable performance across government revenue-generating institutions.
Presiding over the opening session on Monday, November 24, 2025, Chairman of the Senate Committee on Ways, Means, Finance and Budget, Senator Prince K. Moye of Bong County, assured the public that lawmakers will thoroughly examine the revenue estimates to ensure that figures presented are sound, attainable, and backed by performance.
Senator Moye said the strength of the FY2026 Budget rests on the credibility of its revenue foundation, stressing that public trust depends on institutions demonstrating efficiency and accountability.
“This process is not about numbers alone but about trust, discipline, and national responsibility,” he declared.
“We will engage each entity with rigor and fairness, demanding clarity on projections, accountability in performance, and innovation in mobilization.”
Deputy Finance Minister for Fiscal Affairs at the Ministry of Finance and development planing, Anthony G. Myers, described the hearings as a critical annual platform to assess how government resources can be realistically mobilized to fund the country’s development priorities.
Myers revealed that the draft resource envelope for FY2026 stands at US$1.2 billion (LRD 240.23 billion), calculated at an average exchange rate of US$1 to LRD 198.362. Of this amount, 84.5 percent (US$1.02 billion) is projected to be generated in U.S. dollars, while the remaining 15.5 percent (US$188.26 million) is expected to be raised in Liberian dollars.
He noted that domestic revenue is expected to account for 94 percent of the total budget, amounting to US$41.139 million, reflecting major government efforts to strengthen tax administration and expand the revenue base.
Also speaking, Deputy Commissioner-General for Technical Affairs at the Liberia Revenue Authority (LRA), Gabriel Y. Montgomery, proposed amendments to the LRA Act that would allow the agency to retain a share of the revenue it collects. He argued that such provisions would enhance capacity for modernization, digitization, and innovation in tax administration.
Montgomery highlighted improvements such as the Liberia Integrated Tax Administration System (LITAS), which now enables online tax registration, filing, and payment.
During the session, the Senate Committee mandated the Ministry of Finance and Development Planning to submit the Budget Framework Paper, including financial carryovers from FY2024–2025 and FY2025–2026.
The LRA was further instructed to present a detailed Sales Volume Report from January 2025 to present, categorized by importer.
The hearings resume Tuesday with expected appearances from several major institutions, including the National Port Authority, Liberia Maritime Authority, Liberia Petroleum Refining Company, Liberia Telecommunication Authority, National Fisheries and Aquaculture Authority, National Road Fund, and the Forestry Development Authority.
