The Liberian Senate is expected to vote Thursday on a package of measures that would shape the country’s fiscal outlook and natural resource sector, Senate Pro Tempore Nyonblee Karnga Lawrence said.
On the upper chamber’s agenda are concurrence on the Draft 2026 National Budget — valued at about US$1.25 billion and ratification of concession and production sharing agreements involving Ivanhoe Atlantic, TotalEnergies and Atlas Oranto.
“Ivanhoe access and concession agreement, TotalEnergies, Oranto and the budget are on the Senate agenda for action on Thursday,” Pro Tempore Lawrence said, flagging what government officials have described as a “megabillion” vote with potentially wide economic implications.
About a week ago were cleared in the House of Representatives. The House adopted the Draft 2026 Budget, approving LR$247 billion (approximately US$1,249.7 million) to fund government operations from January 1 to December 31, 2026.
The Joint Committee on Ways, Means and Public Accounts reported the budget is balanced between core and contingent revenue and expenditure, and that the exchange rate calculation is based on the Central Bank of Liberia’s recent average. The committee said it also identified additional revenues amounting to about US$38.8 million during scrutiny.
President Joseph Boakai in October submitted the budget and was endorsed by the House after a vote of 42 in favor, two against and one abstention.
Two representatives, Frank Saah Foko (Montserrado County District 9) and Musa Hassan Bility (Nimba County District 7), dissented, arguing the budget did not do enough to reduce poverty.
Mining & Oil
Energy and mining agreements that passed the House and now await Senate concurrence would reopen Liberia’s upstream oil and major mining corridors to foreign investment.
TotalEnergies secured four Production Sharing Contracts (PSCs) for offshore blocks LB 6, LB 11, LB 17 and LB 29 awarded under the 2024 Direct Negotiation Licensing Round.
The company plans seismic surveys and potential exploratory drilling to revive activity in Liberia’s deepwater basins — the first major international upstream engagement in the country in more than a decade.
Oranto Petroleum’s PSCs were ratified by the House after committee review that highlighted direct fiscal benefits to the state, including signature and production bonuses and staged payments tied to seismic data acquisition, well approval and production milestones.
Committees recommended routine oversight and a five-year review clause to ensure alignment with national interests. The Oranto contract now moves to the Senate for concurrence.
The House also ratified a Concession and Access Agreement (CAA) between the Government of Liberia, Société des Mines de Fer de Guinée (SMFG) and Ivanhoe Liberia Limited. The CAA grants a 25 year right to transport Guinean iron ore through Liberia via the existing rail line and the Port of Buchanan, contingent on concessionaires upgrading rail and port capacity.
The agreement outlines near-term payments to the government, a sliding rail access fee, cross border transit charges and a community development fund that ramps up from US$1 million in year one to US$5 million annually from year six onward.
The Ivanhoe deal projects more than US$1 billion in rail access fee revenues over time and roughly US$176 million in additional taxes and duties, along with phased infrastructure investments estimated at over US$1 billion (about US$64 million in Phase 1 and roughly US$888 million in Phase 2).
Timelines in the agreement envisage project development beginning in 2026 (pending ratification), initial shipments of 2–5 million tonnes in 2027 and potential expansion to 30 million tonnes per year after feasibility studies. ArcelorMittal Liberia is slated to remain rail operator until September 23, 2030, when management transitions to a neutral independent operator under the National Rail Authority.
If the Senate concurs, the budget will be enacted and the deals will move forward to implementation, unlocking planned infrastructure upgrades, exploration work and projected payments to the state.
Lawmakers and analysts say the outcomes will be closely watched by investors and multilateral partners as indicators of policy stability, fiscal planning and Liberia’s approach to managing resource sector contracts.
Conversely, amendments or rejection in the Senate could delay project timelines and fiscal execution.
Senate deliberations are expected to include scrutiny of fiscal terms, environmental safeguards and local content commitments in the resource agreements, as well as potential amendments to the budget. A recorded vote is scheduled for Thursday.
