Monrovia, Liberia – Following recommendations from the Presidential Ad-Hoc Committee on Price Contradictions, which was chaired by Vice President Jeremiah Kpan Koung, Sr., President Joseph Nyuma Boakai, Sr., has announced significant reductions in the prices of rice and flour in a decisive move to ease the burden on Liberian households.
According to the President, the wholesale price of rice has decreased from US$16.75 to US$14.00 every 25-kilogram bag, while the price of flour has decreased from US$39.00 to US$35.00 per 100-pound bag.
According to President Boakai, these cuts show how committed his administration is to making sure that the average Liberian family can buy food. The Liberian leader noted that, they are collaborating with importers and producers to uphold fair and environmentally friendly trade policies that ensure consistent supply.
President Boakai gave inspectors from the Ministry of Commerce and other pertinent parties instructions to make sure the new prices are strictly enforced across the country.
He emphasized the government’s commitment to safeguard consumers and stop price manipulation by warning that any person or company discovered to be implementing arbitrary price rises will be subject to the full force of the law.
The President stated that although the new rates are effective immediately, the Presidential Ad-Hoc Committee on Price Contradictions would keep in touch with retailers, importers, and producers to examine cost factors and look into other ways to cut prices.
“My Administration’s top priorities continue to be stabilizing prices, enhancing food security, and reducing the burden on Liberian households.”
Liberians have been worried about the growing prices of staple goods in recent months, as this has had a big impact on household finances in both urban and rural areas. To find pricing discrepancies, suggest remedies, and safeguard the purchasing power of regular people, the Presidential committee was formed.
To make sure that trade practices are transparent, open, and sustainable, the committee works with stakeholders to look into pricing irregularities and unnecessary increases in commodities. The Boakai administration hopes to improve affordability, stabilize supply chains, and guarantee fair trading practices nationwide by putting the committee’s recommendations into practice.
President Boakai stressed, “our objective is not just to lower costs now but also to establish mechanisms that guard against arbitrary price increases in the future and ensure that food is accessible to all Liberians.”
