The Extractive Industries Transparency Initiative (EITI) has finally released its third validation report for Liberia since 2016. What does EITI have to say about Liberia this time?
“Liberia has achieved a very good score in implementing the 2023 EITI Standard…,” the EITI, the leading international organization responsible to promote open and accountable management of natural resources, said in a statement on its website.
Why this is important?
This is Liberia’s third Validation, following previous assessments in 2016 and 2022. Liberia has made significant progress in aligning its EITI implementation with the 2023 EITI Standard, demonstrating a commitment to integrating transparency into national priorities like the ARREST agenda.
Scorecards since 2016:
1) 2026: 80%
2) 2022: 75.5%
3) 2016: Minimum Performance (Between 50 and 64).
This Validation assessment finds that Liberia has achieved, ‘Leading’ performance on one requirement, ‘Very good’ performance on 10 requirements, ‘good’ performance on 11 requirements, ‘limited performance’ on four Requirements and ‘poor’ performance on one.
Why this is a very good news for Liberia?
“Countries with very good Extractive Industries Transparency Initiative (EITI) scores enjoy stronger foreign investment, enhanced domestic revenue collection, and greater political stability. High-performing nations mitigate corruption risks and build public trust by comprehensively disclosing contracts, licenses, and revenues across the oil, gas, and mining sectors. High-quality EITI Validation signals to global markets and financial institutions that the country has a stable, transparent business climate with clear rules..” EITI
The 80% historic score mark under President Joseph Nyuma Boakai has been achieved as a result of the hard work and high performance of the Liberia Extractive Industries Transparency Initiative (LEITI) under the leadership of Head of Secretariat Mr. Jeffrey N. Yates.
