Monrovia, Liberia – Liberia raised more than US$840 million in domestic revenue in 2025, according to Augustine Kpehe Ngafuan, Minister of Finance and Development Planning. Ngafuan also formally introduced two major reform initiatives funded by the African Development Bank (AfDB) that would enhance fiscal governance, revenue mobilization, and transparency.
Speaking on Thursday, February 5, 2026, at the opening of the Institutional Support for Enhanced Domestic Revenue Mobilization and Reform Implementation Project (ISEDRMP) and the Debt and Ownership Transparency Technical Assistance Project (DOT-TAP) at the Corina Hotel in Monrovia, Ngafuan said that the milestone was achieved despite a major financial shock caused by the sudden cutback in support from one of Liberia’s largest donors.
“Last year, we experienced a major shock when the second largest donor materially scaled down support, but we had to do for ourselves. Through improved tax administration, investment in technology, and closing leakages, we surpassed our domestic revenue target by more than US$43 million. That makes 2025 the highest domestic revenue year in Liberia’s history,” he stated.
The minister added that Liberia also surpassed income records in 2024, collecting around US$700 million more than anticipated. According to the Minister, the steady rise shows the government’s dedication to President Joseph Nyuma Boakai’s “bread and butter” policy, which focuses on mobilizing domestic resources to meet citizens’ needs.
According to him, the two AfDB-funded programs aim to strengthen fiscal reforms as part of the ARREST Agenda for Inclusive Development. The ISEDRMP, which aims to improve domestic revenue systems, tax compliance, and institutional capacity across 14 ministries, agencies, and commissions, is estimated to be worth US$18.3 million, including government counterpart payments, according to Liberia’s Finance Minister.
The goals of the US$1 million technical assistance project DOT-TAP include ownership disclosure, debt transparency, and access to trustworthy public financial data. Ngafuan noted that the programs will help important organizations like the Financial Intelligence Agency, the Liberia Revenue Authority, the Ministry of Mines and Energy, the Liberia National Police, the Liberia Anti-Corruption Commission, and the judiciary.
In order to lessen corruption and revenue leaks, especially in the mining industry, he emphasized anticipated expenditures in technology, electronic billing systems, enforcement measures, and equipment. With the goal to improve Liberia’s financial credibility and encourage private sector lending, Ngafuan also revealed that the government had set aside US$230 million in the 2026 national budget for debt servicing, including commitments to commercial banks and foreign partners.
The Minister, “We have begun behind because of delays in ratification, so we must sprint, adding that he will personally monitor implementation of the projects to ensure results. “We want to raise the revenue, bake the bread, and share the bread with butter for the Liberian people.”
Momo K. Lombeh, Project Manager, Program Manager Unit at the Ministry of Finance and Development Planning, gave a summary of the projects, stating that preparation work started in February 2024, AfDB board permission was obtained in December 2024, and legislative ratification was finished in December 2025.
He clarified that despite the fact that one year of implementation time was lost, the authorities stated that they are dedicated to finishing the projects within the remaining three years. The initiatives are essential to strengthening Liberia’s budgetary sustainability, investor confidence, and economic growth, according to senior government officials, heads of ministries and agencies, development partners, and cabinet ministers who attended the inauguration ceremony.
