Monrovia, Liberia – President Joseph Nyuma Boakai has returned to Liberia after attending the Africa Energy Summit in Dar es Salaam, Tanzania, from January 27-29, 2025. During the summit, a key highlight was the signing of the Dar es Salaam Declaration, in which African Heads of State committed to expanding electricity access to an additional 300 million people across the continent by 2030. The declaration aims to promote sustainable energy solutions and foster economic growth throughout Africa.
In addition to his participation in the summit, President Boakai signed the Liberia Energy Compact, cementing the country’s partnership with the World Bank in advancing its energy sector. The agreement pledges $1.5 billion in investments from the World Bank to improve Liberia’s energy infrastructure, with $800 million of that already earmarked for the expansion of the St. Paul Hydro Project (Sp2 Project).
The Liberia Energy Compact is a major step forward for the country’s energy transformation. It aims to increase electricity access to 100,000 households annually, a significant rise from the current rate of 70,000 households. The compact also sets an ambitious goal of achieving 75% national electricity coverage by 2030, a marked improvement from the present coverage of just 32.7%.
President Boakai was accompanied by a high-level delegation, including Hon. Augustine Kpehe Ngafuan, Minister of Finance and Development Planning, Hon. Wilmot Paye, Minister of Mines and Energy, Hon. Mamaka Bility, Minister of State Without Portfolio, and Hon. Morley Kamara, Economic Advisor to the President.
Upon his return, President Boakai emphasized the significance of reliable and affordable electricity for Liberia’s growth and development. “This Energy Compact is a game-changer,” the President stated. “We will ensure that these investments translate into real improvements in the lives of our people.”
The Government of Liberia is committed to working with international partners to fully implement this initiative, bringing clean and sustainable energy to millions of Liberians in the years to come. President Boakai reaffirmed the administration’s dedication to using energy development as a catalyst for economic growth, industrialization, and improved living standards for all Liberians.
