A major petroleum products importer has raised concerns over the Liberia Petroleum Refinery Company (LPRC) imminent involvement in fuel and gas importation activities, which goes beyond its traditional role of providing storage facilities and regulatory support.
LPRC’s alleged act of illegality to enter the business of fuel and gas importation is a move seen by industry experts and observers as a dangerous abuse of authority and a direct attack on private sector investment.
“This move is a threat to private sector investment,” the importer who asked that his identity be concealed due to reprisal against him and his business said in a statement on Saturday. “It undermines the established understanding between LPRC and licensed importers.”
President Joseph Boakai on Thursday, July 17, disclosed that LPRC would soon commence the importation of petroleum products and will remain the country’s bulk importer and distributor to ensure product security, availability, and affordability.
He made the disclosure at the launch of the 2025 Liberia AI Challenge Program held at the Ministerial Complex in Monrovia.
LPRC also announced in May last year that its plans to import petroleum products into the Liberian market through an agreement with Stratcon Energy and Trading Ltd., a Ghanaian-based oil import and distribution company.
The partnership, known as a Sales Purchase Agreement (SPA), was formalized at a signing ceremony held on Wednesday, May 8, at the Product Storage Terminal (PST) on Bushrod Island.
LPRC Managing Director Amos B. Tweh hailed the agreement as a significant moment for the company, stating, “Today is truly a remarkable day in the history of the LPRC. This is a milestone achievement since the founding of the company.”
He explained that the decision to import petroleum products was part of LPRC’s responsibilities to distribute, store, and sell such products. “After many years, LPRC is embarking on a momentous journey of importing petroleum products,” he said.
Tweh emphasized that the goal is to ensure energy security and market stability. “We believe that this is necessary to ensure energy security for our country and, at the same time, to ensure market stabilization and balance in the market overall,” he added.
Tweh clarified that LPRC’s role would be focused on the supply and distribution of products rather than entering the retail market.
“When LPRC imports the product, we will have it in our tanks and provide it to importers, distributors, and those who want it,” he said. “We are not going into the retail market.”
However, the importer highlighted in his statement on Saturday that LPRC’s unauthorized entry into importation could lead to the displacement of hundreds of local workers employed by private importers, affecting job opportunities across the country.
“The implications are chilling,” he disclosed. “This maneuver, if not urgently reversed, will displace hundreds of Liberian workers employed by private petroleum importers businesses that have sustained operations for years and have played a vital role in job creation across the country.”
Each of these importers reportedly supports a network of over 100 employees and contractors, many of whom are sole breadwinners for large families. The importer also added that this pending shift in the sector, if executed without transparency or public accountability, marks a gross violation of the established understanding between the LPRC and licensed importers.
Traditionally, and over so many years LPRC has been collecting storage fees and functioned as a regulatory and logistical support agency, ensuring the secure storage and coordination of petroleum products, “not competing against the very private actors it has issued licenses to import petroleum products,” he said.
Furthermore, there are reports of LPRC’s dealings with entities under international sanctions or financial irregularities that raise serious implications for Liberia’s international standing and financial integrity.
“What’s more troubling are alleged reports of LPRC’s involvement in dealings with foreign entities that are either under international sanctions or known for financial irregularities,” he noted. “Should these allegations prove true, Liberia could be exposed to international penalties, diplomatic fallout, and irreparable damage to its financial credibility.”
Concerns have also been raised about alleged financial involvement of individuals within LPRC’s leadership, suggesting potential conflicts of interest and corruption.
The reported financial support from institutions like Ecobank in this controversial venture has drawn attention to their role in supporting activities that may compromise job security and business norms.
“Even more concerning is the alleged covert financial involvement of individuals within LPRC’s leadership, reportedly connected to upcoming shipments of petroleum products, raising the specter of self-dealing, conflict of interest, and systemic corruption,” he revealed. We are hearing that Ecobank bank may be financing this controversial petroleum venture, which would effectively make them accomplice to a scheme that endangers jobs, violates business norms, and compromises national integrity and even fights against the very importers that they are doing business with that bank.”
The situation, however, calls for immediate legislative scrutiny, intervention from anti-corruption bodies, and vigilance from financial institutions to uphold economic integrity.
He urged civil society organizations, labor unions, and media outlets to collectively address this crisis and protect the interests of Liberians against what is seen as a disruptive incursion into a critical economic sector.
The call for transparency and accountability in all aspects of governance underscores the need to safeguard livelihoods and uphold ethical standards within the business environment.
“This situation is not business as usual. It is a crisis of governance, a deliberate disruption of the private sector, and a potential breach of both domestic and international laws,” he said. “We therefore call for the following actions: An immediate legislative inquiry into LPRC’s recent actions and their legality. Urgent intervention from anti-corruption and financial oversight bodies to investigate all stakeholders involved.”
“We also want to send a warning to financial institutions that their involvement in this matter could be interpreted as complicity in economic sabotage. We also want to seek actions from CSOs, labor unions, and media institutions to expose and resist this hostile takeover of a vital economic sector,” he added, “Liberians cannot afford silence when livelihoods are on the line. This is an economic ambush, calculated, coordinated, and catastrophic in its consequences if left unchecked.”
