MONROVIA – The Liberian Senate on Monday, September 10, 2024, confirmed Hon. Augustine Kpehe Ngafuan as Minister of Finance and Development Planning, following a unanimous vote of 26 members. The confirmation came after a recommendation from the Senate Committee on Ways, Means, Finance, and Budget, which praised Ngafuan’s expertise as a fiscal manager and development expert.
During his confirmation hearing on Thursday, September 6, 2024, Ngafuan presented an ambitious vision for Liberia’s financial future. He likened his nomination to being “summoned back to the battlefront,” emphasizing his readiness to address the country’s economic challenges. Acknowledging that there are no quick fixes, Ngafuan pledged to focus on long-term solutions that prioritize national development goals.
Ngafuan outlined key priorities, including effective resource allocation, improving revenue generation, and enhancing the credibility of Liberia’s budget process. He highlighted the forthcoming ARREST Agenda for Inclusive Development (AAID), which he plans to launch by November 2024, as a foundation for the FY 2025 budget. This agenda will focus on ensuring resources are directed toward critical sectors, including energy, agriculture, and infrastructure.
A central theme of Ngafuan’s plan is addressing economic bottlenecks, particularly in the energy and transportation sectors, which he described as “binding constraints to growth.” He also emphasized the importance of boosting the agriculture sector, which contributes over $1.3 billion to Liberia’s economy, and strengthening the National Agricultural Development Plan to enhance food security and job creation.
Ngafuan also committed to improving revenue collection in the mining sector by working closely with the Liberia Revenue Authority (LRA) to prevent revenue shortfalls. He emphasized the need for realistic revenue forecasting and streamlining budget processes to reduce bureaucratic delays in allotments and payments.
Ngafuan promised to maintain timely salary payments for government employees and ensure compliance with financial management laws, addressing concerns raised by the General Auditing Commission (GAC) about poor adherence to regulations. He also expressed plans to review the Pay Harmonization Program and balance a sustainable wage bill with fair compensation for government workers.
With Liberia’s debt nearing critical levels, Ngafuan stressed the need for prudent debt management. He recalled the debt relief efforts under former President Ellen Johnson Sirleaf and pledged to maintain fiscal discipline to avoid a return to unsustainable debt.
Ngafuan’s vision also includes strong support for Liberia’s climate action agenda, promising to work with the Environmental Protection Agency (EPA) to leverage climate finance opportunities while balancing conservation with responsible commercialization of natural resources.
In his closing remarks, Ngafuan likened his role as Finance Minister to that of a choir director, leading the Ministry of Finance and Development Planning to ensure smooth government operations. “The Ministry is the heart that pumps blood to all parts of the body,” Ngafuan concluded, promising close collaboration with the National Legislature and international partners to achieve Liberia’s development goals.
