MONROVIA, LIBERIA – President Joseph Boakai has reiterated Liberia’s dedication to energy transformation following his participation in the Mission 300 Africa Energy Summit held in Dar es Salaam, Tanzania. At the summit, Liberia presented its National Energy Compact, a comprehensive plan aimed at expanding access to electricity and securing $1.5 billion in financing to electrify 75 percent of the country’s population by 2030.
Upon his return to Liberia on January 29, 2025, President Boakai expressed confidence in the support Liberia has garnered from international financial institutions. In a statement to the press at Roberts International Airport, he highlighted the commitment of key financial partners, including the World Bank and the African Development Bank (AfDB), to back Liberia’s energy transition. “This partnership will bring substantial investment to enhance our electricity infrastructure, connect our communities, and lay the groundwork for industrialization and economic growth,” he stated.
The National Energy Compact outlines ambitious goals for Liberia’s energy future. Among the targets is the connection of 100,000 households to the national grid each year, with a focus on integrating renewable energy sources like solar, hydro, and mini-grid systems to provide sustainable and affordable power. With only 32.7 percent of Liberians currently having access to electricity, one of the lowest rates in Africa, this initiative represents a significant shift towards improving the country’s energy access.
In addition to strengthening the Liberia Electricity Corporation (LEC), the plan aims to attract private-sector investment and connect Liberia to regional power networks, significantly boosting energy access. The $1.5 billion agreement signed by President Boakai at the summit marks a historic investment in Liberia’s energy sector.
“We cannot develop as a nation without energy. This compact is a game-changer for Liberia. It will fuel industrial growth, create jobs, enhance public services, and provide our people with the dignity of living in a modern economy,” the president remarked.
The Mission 300 Africa Energy Summit, which brought together 12 African nations, focused on solutions to close the continent’s energy gap. The participating countries—Liberia, Chad, Côte d’Ivoire, Democratic Republic of the Congo, Madagascar, Malawi, Mauritania, Niger, Nigeria, Senegal, Tanzania, and Zambia—submitted their respective National Energy Compacts. These plans are centered on expanding energy infrastructure, promoting renewable energy, and encouraging greater private-sector participation to mobilize additional resources.
