MONROVIA, LIBERIA-The Government of Liberia has launched a 35-million United States dollar expansion and modernization project at the Liberia Petroleum Refining Company (LPRC) on Bushrod Island.
The project is aimed at strengthening Liberia’s petroleum storage capacity and improving energy security.
The initiative, launched by President Joseph Boakai on Monday, October 26, 2026, is expected to add 50-thousand metric tons of commercial fuel storage capacity.
Addressing the ceremony, President Boakai described the project as an important milestone in Liberia’s development process.
The Liberian Leader said,” The event marked the completion of two national investments and the beginning of a major expansion of the LPRC petroleum storage terminal”.
Meanwhile, President Boakai has urged the LPRC Management to ensure that its new petroleum infrastructure projects create jobs and improve the living conditions of the citizens of Liberia.
The President said,” The success of the investments must be measured by their impact on employment, economic growth, and national energy security”.
The Liberian Leader also stressed the need to develop technical skills and increase local participation in the Petroleum Sector.
He called on the LPRC Board of Directors and Management to ensure transparency, accountability, and proper maintenance of the facilities.
According to him, the expansion project must meet high standards of financial management, technical quality, environmental protection, and operational safety.
At the same time, the Minister of Finance and Development Planning, Augustine Ngafuan, challenged institutions of the Liberian Government to spring into action and raise revenue dedicated to the development of the country.
Minister Ngafuan said,” The one-billion budget has created a billion expectations from the people”.
Ngafuan commended the LPRC for the landmark development initiatives, emphasizing the company’s role in contributing to the country’s revenue envelope.
The finance minister then praised the LPRC for keeping products available and affordable, despite a global surge in prices that has triggered protests and tensions elsewhere.
For his part, the Managing Director of the LPRC, Amos Tweh, reaffirmed his commitment to continuous expansion and development of facilities at the company.
Tweh said,” The goal is to ensure the LPRC has a modern tank farm with capacity never seen in the history of the country”.
He said these developments will help create new jobs and increase revenue generation and the institution’s contribution to the national budget.
Tweh then disclosed that the project will also include reclaiming land from the sea and building a coastal defense wall to protect the Petroleum Storage Tank Farm.
Also, a leading Liberian Petroleum Importer, Musa Bility, wants the National Legislature to allocate funds in the national budget to purchase and maintain petroleum reserves for Liberia’s energy security.
Bility, who is also Nimba County District Seven Representative, said,” Liberia needs a reliable fuel reserve to protect the country from supply shortages and sudden increases in global petroleum prices”.
Representative Bility noted that the absence of sufficient fuel reserves leaves Liberia vulnerable to rising fuel costs.
He said maintaining a national petroleum reserve would help the Liberian Government respond better when international fuel prices increase or supplies become scarce.