MONROVIA, LIBERIA – The Liberia Petroleum Refinery Company (LPRC) has increased its financial contribution to the Government of Liberia, raising its dividend payment from $1.3 million in 2023 to $2.5 million in 2024. This announcement on Tuesday, February 25, 2025, came during the presentation of LPRC’s 2024 Annual Activities Report to President Joseph Nyuma Boakai.
Leading the delegation, LPRC Managing Director Amos Tweh attributed the increase to improved financial performance and operational efficiency. According to Tweh, the company remains committed to meeting its financial obligations, including regular remittances for social security contributions, withholding taxes, and other payments to the government. He emphasized that these contributions play a crucial role in supporting national programs and driving economic growth.
In addition to financial payments, LPRC’s report detailed the company’s Corporate Social Responsibility (CSR) initiatives. Tweh highlighted that the company has been actively supporting community development programs while maintaining compliance with financial regulations.
Looking ahead, LPRC plans to strengthen regulatory oversight, particularly concerning private and concession-operated tank farms. Tweh outlined the company’s 2025 agenda, which includes measures to streamline petroleum import processes and ensure fair competition within the sector. He stressed that these regulatory improvements are intended to create a more transparent and accountable petroleum industry.
The presentation of the annual report also underscored LPRC’s strategic focus on improving operational standards and sustaining the petroleum supply chain. Tweh expressed confidence in the company’s future, crediting the support of the LPRC Board, members of the Economic Management Team, and the company’s employees for driving progress.
Following the presentation, Tweh reaffirmed LPRC’s commitment to achieving greater milestones. He expressed optimism that the measures outlined for 2025 would further enhance the company’s regulatory framework and contribute to national development.
The 2024 Annual Activities Report reflects LPRC’s ongoing efforts to improve financial transparency, support government initiatives, and position itself as a key player in Liberia’s petroleum sector.
