Senator Crayton Oldman Duncan of Sinoe County is spearheading a call for sweeping economic and concession reforms, urging the 55th Legislature to adopt new laws aimed at reshaping Liberia’s economic landscape in response to the recent freeze on U.S. foreign aid.
This drastic move by the U.S. government, which includes suspending support for United Nations organizations and halting USAID operations, has significantly impacted Liberia’s national budget and development programs.
In a formal communication to the Senate, Senator Duncan acknowledged the severe challenges posed by the aid freeze but stressed that the situation also presents a crucial opportunity for Liberia to assert greater control over its economic future. He proposed focusing on three key areas to foster economic independence and sustainable development: restructuring concession agreements, strengthening the Liberianization policy, and enhancing anti-corruption measures.
Duncan called for a comprehensive review of all concession agreements within Liberia’s extractive and plantation sectors, including rubber, timber, iron ore, oil palm, gold, diamonds, and crude oil. He emphasized that future agreements should require companies to invest in critical infrastructure such as roads, schools, and healthcare facilities as part of their resource extraction agreements. He further proposed that at least 60% of extracted raw materials be processed within Liberia before export to promote local industry and job creation.
The senator also advocated for a shift in how Liberia’s natural resources, especially gold and diamonds, are traded. He proposed that 50% of these resources be deposited into the national reserve or used for infrastructure development before they are allowed to be exported. Duncan stressed the importance of imposing strict environmental and social responsibility standards on concessionaires, including mandatory impact assessments and community benefit agreements. He warned that companies failing to meet these standards should have their contracts revoked in favor of investors willing to contribute to Liberia’s long-term development goals.
On the issue of Liberianization, Duncan criticized the current policy for not adequately empowering local businesses. He pointed to the dominance of foreign firms in sectors like construction despite the availability of qualified Liberians. To address this, he suggested the creation of a National Enterprise Development Fund, which would provide financial support, technical assistance, and equipment to Liberian-owned businesses. Additionally, he proposed apprenticeship programs, local content requirements, and tax incentives for companies exceeding Liberians’ employment and training targets.
Senator Duncan also highlighted the urgent need for anti-corruption reforms. He cited a case within the National Disaster Management Agency where over $500,000 was reportedly spent on projects that a previous administration allegedly executed.
He called for stronger legislative oversight, including equipping Senate committees with investigative staff and technical experts to conduct regular performance reviews. He also proposed an independent audit task force to oversee concession agreements and a whistleblower protection program to safeguard those exposing corruption. Furthermore, he recommended mandatory performance audits for all government agencies, with results made public to ensure transparency.
Duncan argued that Liberia’s reliance on foreign aid is no longer sustainable. He urged the Senate to take immediate action by forming a national committee of legislators, legal experts, and international partners to draft the necessary legal framework for these proposed economic and legislative reforms. According to Duncan, Liberia can only ensure that its vast natural resources truly benefit its people through bold and transformative policies.
