Published: October 24, 2025
MONROVIA – The National Port Authority (NPA) has finalized an agreement with ArcelorMittal-Liberia to pay a minimum of $2.5 million annually for the use of the Port of Buchanan, NPA Managing Director Sekou Dukuly announced Thursday during a press briefing.
The deal, signed October 17, 2025, represents the first time in several years that ArcelorMittal has formally agreed to compensate the government for transshipment and anchorage services for ocean-going vessels operating through the port.
“The first thing they said was that they wanted to come back to the port authority to discuss the terms, and we told them that any expired memorandum of understanding (MOU) with the previous administration would be re-evaluated,” Dukuly said. “We have now signed a five-year anchorage agreement covering both transshipment and ocean-going vessels. This ensures that Liberia receives a fair share of the revenues generated from business conducted on international waters.”
The agreement is distinct from ArcelorMittal’s general contributions and marks a step toward maximizing revenue from port operations. Dukuly emphasized that the deal will serve as a benchmark for future transshipment agreements with other companies operating in Liberia.
“This agreement will generate a minimum of $2.5 million annually for the National Port Authority from this transaction alone,” Dukuly said. “We will also finalize additional service and operations agreements with ArcelorMittal to further strengthen revenue collection.”
Negotiations began shortly after the current NPA administration took office in February 2024, spanning nearly 20 months before the deal was signed. Dukuly said the process was guided by principles of partnership, trust, and mutual respect, and included benchmarking against best practices in neighboring countries such as Ghana, Guinea, and Sierra Leone.
“For almost two years, we have engaged in discussions and reviewed every aspect of their operations,” Dukuly said. “By October 17, 2025, we were able to sign this deal, which sets a benchmark for any company coming to the Port of Buchanan in the future.”
The NPA boss also addressed concerns about transparency and fairness in port operations. He noted that prior agreements often undervalued fees and undercharged companies for the use of port facilities, resulting in lost revenue for the government.
“We are reviewing all leases and contracts inherited from the previous administration,” Dukuly said. “For instance, some companies were paying as little as $7,500 annually for warehouse space that should have cost $150,000. These adjustments are necessary to ensure that businesses using the port contribute fairly to its development.”
Dukuly underscored that the NPA is also pursuing broader infrastructure development initiatives, including the potential establishment of a multi-user industrial hub at the port. He said land adjacent to the port, including over 15,000 acres in Buchanan, could be used for manufacturing, export, and special economic zones to stimulate industrialization in the region.
“Instead of having trucks damage the road network by transporting goods long distances, we want to make strategic investments in the port to create an industrial hub that will benefit investors and local communities alike,” Dukuly said.
He further explained that improving the port’s efficiency and attractiveness to investors has been a central focus of his administration. Among the measures taken is changing the primary port of call for shipments from China to Lomé, Togo, reducing delivery time from four months to seven days and making the Freeport of Monrovia more competitive in the regional shipping market.
“Investors look at the economy, port capacity, GDP, and ease of doing business. By improving infrastructure, streamlining operations, and providing clear data, we can attract more investment and generate economic growth,” Dukuly said.
Since taking office in February 2024, the NPA has reported year-on-year growth in port traffic of between 10 and 12 percent, with projections of up to 15 percent growth next year. Dukuly attributed this to increased investor confidence, political stability, and ongoing industrial projects in Liberia.
“The country’s GDP is growing, more investors are coming, and with proper infrastructure, we can expect sustainable economic growth. This will also help support Liberia’s export capacity, improve foreign exchange, and strengthen the overall economy,” he said.
Dukuly also touched on the future of iron ore exports, noting that China Union Shipping is expected to begin shipping iron ore from the Freeport of Monrovia by the end of next month. Planned development includes constructing jetties at the Freeport to facilitate cargo handling and attract additional investment.
“The goal is to make Liberia a competitive port in the region, generate fair revenue, and provide the necessary infrastructure for investors. This agreement with ArcelorMittal is just the beginning,” Dukuly said.
The NPA chief noted that the government is committed to ensuring that the port authority operates autonomously, with clear legal and operational frameworks that guarantee accountability and fair revenue collection.
“The port is a strategic asset for Liberia. By modernizing its operations and ensuring fair compensation, we are securing benefits for today’s generation of Liberians and for those to come,” Dukuly said.
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