Liberia avoids delisting from EITI by publishing reports of revenues from the extractives sector
Author: Front Page Africa, Published on: 17 January 2020
"Liberia Releases EITI Report on Last Day of the Year to Avert Delisting", 31 December 2019.
The Multi-stakeholder Steering Group (MSG) of the Liberia Extractive Industries Transparency Initiative (LEITI) on December 31, 2019, endorsed and approved the 10th & 11th EITI Reports for Liberia covering the periods 2016/17 and 2017/18...The reports reveal that the total revenue received by the government from the oil, mining, forestry and agriculture sectors for the period July 1, 2016 to June 30, 2017 amounted to USD53.84m, whilst the total amount received for the period July 1, 2017 to June 30, 2018 amounted to USD68.9m. This represents a 28% increase in revenues collected from the sectors covered under Liberia’s EITI scope.
The 2017/18 report shows a difference of $490,521 government receipts over what was reportedly paid by companies. LEITI will investigate further these discrepancies. The report also reveals challenges in sectorial oversights, data collection and licensing processes, among others...the report is now set to be disseminated across the country to discuss the findings with the citizens and solicit feedback on how to improve governance of the extractive sector...LEITI has lifted in its 2019/2020 Workplan key activities including a Beneficial Ownership Registry and Mainstreaming the EITI reporting process. The Chairperson also called on the government and development partners to ensure these key initiatives are funded...