President Joseph Nyuma Boakai, Sr., has returned to Liberia after attending the Africa Energy Summit in Dar es Salaam, Tanzania. The summit took place from January 27-29, 2025.
A significant outcome of the summit was the signing of the Dar es Salaam Declaration. This agreement involves African Heads of State committing to provide electricity access to an additional 300 million people across Africa by 2030. The initiative is intended to promote sustainable energy solutions and stimulate economic growth throughout the continent.
During his visit, President Boakai also signed the Liberia Energy Compact. This compact establishes Liberia as a partner with the World Bank in advancing its energy sector. As part of this agreement, the World Bank will mobilize $1.5 billion for Liberia's energy infrastructure. Of this amount, $800 million is already designated for expanding the St. Paul Hydro Project (Sp2 Project).
The compact aims to significantly increase electricity access in Liberia by targeting an expansion to 100,000 households annually from the current figure of 70,000. It also sets a goal for achieving 75% national electricity coverage by 2030, up from the present level of 32.7%.
President Boakai attended the summit with several high-ranking officials from Liberia: Honorable Augustine Kpehe Ngafuan, Minister of Finance and Development Planning; Honorable Wilmot Paye, Minister of Mines and Energy; Honorable Mamaka Bility, Minister of State Without Portfolio; and Honorable Morley Kamara, Economic Advisor to the President.
Upon returning home, President Boakai emphasized his administration's dedication to sustainable energy development as a means for economic growth and improved living standards in Liberia.
“Reliable and affordable electricity is essential for Liberia’s progress,” he stated while expressing optimism about future developments. “This Energy Compact is a game-changer, and we will ensure that these investments translate into real improvements in the lives of our people.”
The Liberian government remains committed to collaborating with international partners on implementing this initiative aimed at delivering clean and affordable energy solutions across Liberia in coming years.
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