By Emmanuel Koffa | Grand Kru
Liberia’s natural wealth is once again under the spotlight as governance advocate and researcher Matthew Sieh Wisseh issues a fiery call for sweeping reforms in the nation’s extractive industries. In a newly released policy paper, Wisseh warns that outdated concession agreements are draining the country’s potential and robbing citizens of the development dividends they deserve.
His paper, provocatively titled “The Time Is Now to Renegotiate Bad Concession Agreements,” paints a stark picture of Liberia’s mining, forestry, agriculture, and petroleum sectors. According to Wisseh, many of the contracts signed years ago are riddled with loopholes, excessive tax incentives, and weak financial disclosure requirements that undermine government revenue collection.
“Our natural resources must translate into real development for the Liberian people,” Wisseh declared. “The time has come for Liberia to revisit and renegotiate concession agreements that no longer serve the national interest.”
The researcher points to findings from the Liberia Extractive Industries Transparency Initiative (LEITI), which reported that the sector contributed more than US$182 million to government coffers between July 2021 and December 2022. Yet, he argues, the figure could have been far higher if companies were held to stricter reporting standards and if concessions were negotiated with greater transparency.
Wisseh’s critique is sharp: some agreements allow corporations to inflate expenditures, thereby minimizing taxable income. This practice, he says, cripples domestic revenue generation and limits the government’s ability to fund critical programs in health, education, and infrastructure.
To reverse the trend, Wisseh proposes bold reforms: Publication of agreements to ensure public scrutiny, stronger audits and digital monitoring systems to track compliance, legislative review of all deals before approval, Investment in local experts—economists, lawyers, geologists, and financial specialists—to sharpen Liberia’s bargaining power, and modern technology to reduce corruption and enhance transparency.
Importantly, Wisseh insists that stronger oversight should not scare away investors. Instead, he argues, it will create a fairer, more balanced system that fosters accountability while ensuring sustainable development.
His message is clear and urgent: Liberia’s resource wealth must no longer be squandered through poorly negotiated deals. With decisive action, Wisseh believes the nation can transform its extractive sector into a true engine of prosperity—one that finally delivers on the promise of development for all Liberians.
