The Joint Committee on Investment & Concessions of the House of Representatives has completed its inaugural stakeholders’ meeting, which was attended by officials from various government entities, including the Ministry of Justice, the National Investment Commission, the Ministry of Labor, the National Bureau of Concessions, and the Ministry of Mines & Energy. The meeting, held on March 5, 2025, aimed to foster collaboration among key players in the management and oversight of concession agreements in Liberia.
Hon. Foday Fahnbulleh, Chairman of the Committee, underscored the importance of closely monitoring and evaluating concession agreements to ensure that companies are fulfilling their obligations, particularly in terms of environmental standards and corporate social responsibility commitments. Fahnbulleh acknowledged the collective responsibility of the committee members in overseeing these agreements, calling for continued vigilance in monitoring their implementation.
During the meeting, the National Bureau of Concessions presented its monitoring program, which tracks the progress of various concession agreements across the country. The NBC highlighted several challenges it has faced in ensuring compliance with agreed-upon terms, particularly concerning the construction of schools and other social infrastructure as stipulated in the contracts.
A significant portion of the discussions centered on the need for a comprehensive review of the status of all concession agreements, spanning across sectors such as mining, agriculture, and infrastructure. In response, the committee requested an updated list of all ongoing concessions and their progress to better understand the current situation and identify areas requiring attention.
The stakeholders agreed on the necessity of a follow-up meeting, where lawmakers would conduct an in-depth analysis of the various agreements and identify the critical issues that require immediate action. The committee remains committed to ensuring transparency in the handling of concession agreements and reaffirmed its dedication to fostering accountability in all processes associated with national development projects.
