Monrovia, Liberia – August 8, 2025
President Joseph Nyumah Boakai on Thursday received the 2025 Bi-Annual Performance Report of the National Oil Company of Liberia (NOCAL) during a formal ceremony at the Executive Mansion.
Presenting the report, NOCAL’s Acting President and Chief Executive Officer, Hon. Fabian Michael Lai, outlined urgent actions requiring presidential intervention within the next 30 days, emphasizing four key priority areas. He also unveiled the company’s five-year Strategic Plan aimed at revitalizing Liberia’s oil and gas sector.
Hon. Lai, accompanied by members of NOCAL’s leadership team and Board of Directors, highlighted growing interest from leading international oil companies in Liberia’s offshore basin. He attributed this to the Boakai administration’s reputation for responsible governance and the absence of security threats along the Liberian coastline.
Board Chairperson, Cllr. Gloria Maya Musu-Scott, praised President Boakai for his continued support and commended the company’s senior management for significant progress made over the past eight months since her appointment in January.
In response, President Boakai reaffirmed his commitment to ensuring NOCAL’s short- and long-term priorities are implemented, stressing that all energy sector institutions must operate within the law, honor binding agreements, and adhere to their mandates.
The meeting concluded with a renewed pledge from both the government and NOCAL to work towards national development and transformation of Liberia’s oil and gas industry.
