MONROVIA – President Joseph Nyuma Boakai has declared Liberia’s achievement of more than US$1 billion in domestic revenue collection a historic fiscal breakthrough, saying the milestone demonstrates that the country can increasingly finance its development through resources generated at home rather than relying primarily on borrowing and foreign assistance.
In a special address to the nation on Monday, September 14, 2026, President Boakai said Liberia had, for the first time in its 179-year history, raised more than US$1 billion in domestic revenue in a single year.
The President described the achievement as a national accomplishment involving the Liberia Revenue Authority, the Ministry of Finance and Development Planning, the broader government and Liberians whose taxes, duties, fees and other lawful payments contributed to the record collection.
“This is domestic revenue raised at home, earned, not borrowed, and not foreign aid,” President Boakai said, emphasizing the distinction between domestically generated resources and external financing.
According to the President, the achievement represents a major change in Liberia’s fiscal trajectory over a relatively short period.
He recalled that domestic revenue stood at approximately US$612 million in 2023. That figure increased to about US$699 million in 2024, rose further to US$848 million in 2025 and has now surpassed US$1 billion in 2026.
The President said the increase occurred within two years and eight months of his administration rather than six years, while maintaining that Liberia remains on course to reach its annual budget target of US$1.3 billion by the end of December.
The figures presented by the President place the latest milestone within a pattern of rising domestic revenue collection since 2023.
Boakai credited Commissioner General Dorbor Jallah and the Liberia Revenue Authority team, the Ministry of Finance and Development Planning and what he described as a whole-of-government approach for helping produce the increase.
He also placed particular emphasis on the contribution of ordinary Liberians and businesses.
According to the President, the US$1 billion was generated through lawful taxes, duties, fees and other payments made by citizens and businesses operating within Liberia.
He said the achievement therefore belongs not only to government institutions but also to the taxpayers whose compliance made the collection possible.
President Boakai also argued that the achievement came against the backdrop of considerable global economic uncertainty.
He pointed to instability in the Middle East, disruptions to the free movement of goods and pressures affecting global trade as factors that could have created additional economic difficulties for Liberia.
The President said his administration had worked to stabilize prices and maintain steady supplies of rice and fuel during the period of global uncertainty.
According to Boakai, those efforts helped protect Liberians from greater economic hardship while contributing to the broader economic conditions under which the country achieved the domestic revenue milestone.
However, the President said the government does not view US$1 billion simply as a figure on a government ledger.
He said the real significance of the milestone must ultimately be measured by its impact on the lives of Liberians.
The President said every dollar collected represents the contribution of a Liberian and must therefore be used to produce results that citizens can see and feel.
He connected the revenue achievement directly to his administration’s ARREST Agenda for Inclusive Development, saying the additional resources must advance the government’s development priorities and improve the general conditions of the population.
President Boakai also said the administration is considering setting aside a portion of domestic revenues through a dedicated Special Purpose Vehicle to provide affordable financing for Liberian-owned businesses and support other critical sectors of the economy.
The proposed financing mechanism could become one of the most consequential economic components of the revenue milestone if implemented.
For Liberian entrepreneurs and small businesses, access to affordable capital remains an important factor in the ability to establish, expand and sustain enterprises.
The President said the proposed approach is intended to promote broad-based economic participation and create greater opportunities for Liberian-owned businesses.
Beyond private-sector financing, Boakai pointed to several areas where increased domestic resources are already supporting government operations and public services.
He said the administration has raised salaries for more than 23,000 public service workers and officials in sectors including health, public works, security, the Judiciary, the General Auditing Commission and the Liberia Anti-Corruption Commission.
The President also announced that more than 3,400 long-serving volunteer teachers and health workers have been placed on the national payroll.
According to Boakai, the stronger revenue position is also supporting the Liberia Drug Enforcement Agency, the recruitment and training of 600 new Armed Forces personnel and skills and livelihood opportunities for young Liberians.
Road infrastructure is another area highlighted in the address.
The President said increased resources are helping support road work through the procurement and deployment of yellow machines across the counties.
He said the equipment is intended to help communities address road conditions that have affected Liberians for generations.
The President’s address also placed taxpayers at the center of the achievement.
He specifically recognized market women, traders, workers, professionals and businesses, saying every honest declaration, receipt and timely payment represented an act of faith in Liberia.
But while celebrating the milestone, Boakai warned against complacency.
He said Liberia’s needs and aspirations are greater than US$1 billion and argued that achieving the milestone should increase rather than reduce the government’s responsibility to perform.
The President described the achievement as both an accomplishment and an obligation, saying the government must remain accountable and continue mobilizing domestic resources to build a state that is more capable and responsive to its citizens.
The US$1 billion milestone therefore represents more than a record revenue collection figure for the Boakai administration.
It marks a significant point in Liberia’s ongoing effort to strengthen domestic resource mobilization and increase the country’s capacity to finance national priorities from resources generated within its own economy.
With the government still targeting US$1.3 billion in annual domestic revenue by the end of December, the administration now faces the challenge of sustaining the revenue growth while demonstrating that the additional resources can translate into tangible improvements in the lives of Liberians.
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