Published: January 29, 2025
Tanzania – Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), has urged the World Bank and other development partners to bolster support for Liberia’s energy sector following the presentation of its Energy Compact at the Africa Energy Summit in Tanzania.
Dr. Adesina lauded President Joseph Boakai’s focus on governance reforms and emphasized the pivotal role of electricity in fostering economic growth. “You cannot grow the economy without electricity. I strongly encourage all development partners to rally behind Liberia,” he stated.
Unlocking Liberia’s Energy Potential
Highlighting Liberia’s energy transformation prospects, Dr. Adesina pointed to the 160-megawatt St. Paul River Hydropower Project as a game-changer. He underscored its potential to meet 100% of Liberia’s electricity needs, a remarkable leap from the current installed capacity of 126 megawatts.
“If you want to do something, do it big, do it well, and make it sustainable,” Adesina said, advocating for ambitious, large-scale projects capable of delivering lasting solutions to the country’s energy crisis.
Dr. Adesina also emphasized the need to reform the Liberia Electricity Corporation (LEC) by ensuring cost-effective tariffs and improving its operational efficiency. He highlighted regional energy integration through the West Africa Power Pool as a crucial strategy for enabling Liberia to access affordable electricity from neighboring Côte d’Ivoire.
Strengthening the World Bank Partnership
Acknowledging the World Bank’s long-standing commitment to Liberia’s energy sector, Dr. Adesina praised the institution’s pivotal role in laying the groundwork for the country’s energy infrastructure. He called for continued financial and technical assistance to accelerate progress in expanding electricity access.
While commending the World Bank, Dr. Adesina called on other international development partners to join efforts to address Liberia’s energy challenges, particularly in the areas of rural electrification and clean cooking solutions. Liberia’s rural electricity access rose modestly from 3% in 2012 to 8% in 2021, but Dr. Adesina deemed this progress inadequate for the nation’s growing needs.
The Need for Rural Electrification
Dr. Adesina underscored the urgent need for greater investment in rural electrification and clean cooking initiatives, citing their significant benefits for public health and environmental sustainability.
He also praised President Boakai’s administration for its commitment to governance reforms, which include promoting fiscal responsibility, transparency, and accountability—key components for driving sustainable development. “Liberia’s new leadership is committed to doing things the right way, and these reforms are vital for the country’s future,” he remarked.
Charting Liberia’s Energy Future
The presentation of Liberia’s Energy Compact at the summit detailed a comprehensive roadmap for expanding electricity access, strengthening the LEC, and leveraging hydropower as a sustainable energy source. With the right international support, Liberia has the potential to transform its energy sector and improve the quality of life for its citizens.
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