The 4th EITI Report for Liberia, prepared by the Reconciler, Ernst and Young (Ghana), captures all material payments of taxes, royalties, land/surface rentals and other administrative fees paid to, and acknowledged by the Government of Liberia by all oil, mining, forestry and agricultural companies for the period July 1, 2010 to June 30, 2011. Additionally, the report includes In-kind Contributions made by extractive companies, Revenue Tracking, and Amount Due. The report was also expanded to include payments reported by four other Government agencies including the Liberia Maritime Authority (LMA), the National Port Authority (NPA), the Environmental Protection Agency (EPA) and the Liberia Civil Aviation Authority (LCAA).The report shows that during the period under review, the extractive sector contributed US$117m to the Liberian economy, a 65% increment in what was reported in the previous year. This shows a sustained growth of contributions by the extractive sector to the economy, from $29m in 2007/2008; $35m in 2008/2009; and $71m in 2009/2010 to $117m in 2010/2011.
The Post Award Process Audit covers 68 companies operating in the oil, mining, forestry and agricultural sectors whose contracts, licenses and permits and rights were granted/amended by the Government of Liberia for the period July 13, 2009 up to and including December 31, 2011. The objective was to ascertain whether these rights and permits were awarded in line with applicable Liberian Laws. The report shows that some of these contracts and permits were awarded either in full or partial compliance with the applicable Laws of the Republic of Liberia while others failed to meet the requirements. The audit/investigation was commissioned by the LEITI MSG in July 2011 and conducted by Moore Stephens LLP (London) in Collaboration with Parker and Associates (Liberia). This audit is the first of its kind to be conducted by the LEITI.
At today’s meeting, the MSG resolved to organize a special retreat at which stakeholders will review recommendations from these reports, with the aim of identifying areas for policy implementation.
Meanwhile, the launch of the reports will be followed by massive dissemination exercises including extensive outreach throughout the fifteen counties of Liberia.
The Liberia Extractive Industries Transparency Initiative (LEITI) is an autonomous agency established through an Act of the Legislature, to promote the transparent management of Liberia’s extractive resources. It is a tripartite arrangement governed by a Multi-stakeholders Steering Group (MSG), consisting of representatives of the Government of Liberia, civil society organizations, the private sector, and Liberia’s development partners.