Over sixty LEITI Stakeholders representing logging, mining and oil companies as well as the Government of Liberia, Civil society and Liberia Development partners have committed themselves to expeditiously resolving all discrepancies contained in the recently published first EITI Report of Liberia, and  working to ensure that forest and mineral revenues of Liberia are properly accounted for and equitably used for the benefits of all Liberians.

The commitment was made at the end of a two-day capacity building Retreat held for members of the LEITI Multi-stakeholders Group and other LEITI Stakeholders, including officers and representatives of extractive companies, civil society, the UNDP, UNMIL, DFID, World Bank, and other international organizations.

During the Retreat, the LEITI Stakeholders discussed major unresolved discrepancies of payments and revenues data contained in the LEITI first Report.  Some of the unresolved discrepancies involved the amount of US$160,000.00 that Amlib (which recently signed a Mineral Development Agreement with the Government) reported paid to the Ministry of Finance, but which the Ministry of Finance said it never received. Also discussed were several other major differences in figures of payments and receipts, including what ArcelorMittal reported as paid to the Government and what the Government reported as received from ArcelorMital. 

Given the significance of the discrepancies, and as a necessary measure to further the credibility of the LEITI process, the Government of Liberia along with other LEITI stakeholders at the Retreat agreed that all discrepancies contained in the LEITI First Report be expeditiously resolved within one month as of the Retreat. 

Meanwhile, the LEITI Governing Board has approved a summary of the first LEITI Report, and authorized the LEITI Secretariat to implement wide dissemination of the summary LEITI Report in conjunction with other appropriate public outreach activities. The LEITI stakeholders said that it was important that Liberians get adequately informed of the aims and immense benefits of the LEITI initiative. 

Meanwhile, the over sixty LEITI Stakeholders attending the ThinkersVillage Retreat called on the Liberia Legislature to use their good offices to pass the Draft LEITI Act before them, saying that the benefits of transparency and good governance offered by the LEITI are very clear and indisputable.
The Liberia Extractive Industries Transparency Initiative (LEITI) is part of a global Initiative called Extractive Industries Transparency Initiative (EITI) , which is implemented in 26 countries in Africa, Asia, and Europe. The objective of the EITI and the LEITI is the same: to promote transparency over mineral revenues by requiring the regular disclosure, verification and publication of (1) all material payments made to a country’s government by extractive companies; and (2) the revenues the Government received from the extractive Companies. The schedule of both payments and revenues data are regularly published in an EITI Report. Liberia First EITI Report was published in February this year, and may be found at www.leiti.org or collected from the offices of the LEITI on the 4th Floor of the Ministry of Finance.

The Draft Act to establish the Liberia Extractive Industries Transparency Initiative (LEITI) as a statutory body in Liberia got its first reading in the Honorable House of Representative of Liberia on Tuesday, February 24, 2009. The reading of the Act followed its earlier submission t the Honorable legislature by the President of Liberia, Her Excellency Madam Ellen Johnson Sirleaf-Johnson.
In her letter submitting the Act to the Honorable legislature, President Sirleaf names one of the objectives of the LEITI  as “to assist in ensuring that all benefits due the Government and people of Liberia on account of the exploitation and/or extraction of the Country’s mineral  and other resources are (1) verifiably paid or provided; (2) duly accounted for; and (3) prudently utilized for the benefits of all Liberians and on the basis of equity and sustainability.”

Meanwhile, the Draft Act has been turned over to the appropriate Committee of the House for its review and advice to the full House.

The Liberia Extractive Industries Transparency Initiative (LEITI) has won the EITI Implementing Country Award announced for the first time by the EITI in Doha, Qatar during the 4th EITI Conference. The Chairman of the EITI international Board, Peter Eigen presented the Award to Liberia. In his presentation remarks, Chairman Eigen lauded the pace-setting achievements of Liberia in EITI implementation, citing the inclusion of forestry in its program, and the remarkable engagement of all LEITI stakeholders, including the exemplary political will of the Liberian Government.

The EITI Award to Liberia was received on behalf of the Country by her Excellency, Madam Ellen Sirleaf-Johnson, President of Liberia who had earlier addressed the Conference. President Johnson thanked the EITI Board for its recognition of the LEITI, adding that the Award represented a challenge for Liberia to deepen its EITI implementation and makes the LEITI truly beneficial for the Liberian people.

As one of about 26 EITI implementing countries, Liberia’s winning of the EITI Implementing Country Award is a strong testament of the rapid progress the LEITI has made in a relatively short period since Liberia became an EITI candidate country in September 2007.

Meanwhile, two other countries received awards during the Doha Conference. Azerbaijan received an award for becoming the first EITI Compliant country while Kazakhstan received a special prize for its efforts in raising awareness about the Country’s EITI program across their huge country.