Liberia Unveils Energy Plan to Electrify 75% by 2030, Secures $1.5B Funding”

President Joseph Nyuma Boakai, Sr., has returned to Liberia following a successful participation in the Africa Energy Summit in Dar es Salaam, Tanzania, held from January 27-29, 2025. The summit provided a pivotal platform for African leaders to discuss energy access and strategies for sustainable development across the continent.

A key achievement during the summit was the signing of the Dar es Salaam Declaration, in which African Heads of State committed to expanding electricity access for 300 million people across the continent by 2030. This landmark initiative is set to drive sustainable energy solutions and accelerate economic growth throughout Africa.

Liberia’s Commitment to Energy Transformation

One of the most significant moments for Liberia was the signing of the Liberia Energy Compact, an agreement solidifying Liberia’s partnership with the World Bank to transform the country’s energy sector. Under this compact, the World Bank has pledged $1.3 billion in investments, with $800 million already allocated for the St. Paul Hydro Project (Sp2), a major initiative aimed at expanding Liberia’s energy infrastructure.

The compact sets ambitious targets for Liberia, including increasing electricity access to 100,000 households annually, a substantial rise from the current 70,000. The country aims to expand its national electricity coverage from 32.7% to 75% by 2030, a bold step toward closing the energy gap and powering Liberia’s industrialization.

High-Level Liberian Delegation at the Summit

President Boakai was accompanied by a distinguished delegation, including:

• Hon. Augustine Kpehe Ngafuan, Minister of Finance and Development Planning

• Hon. Wilmot Paye, Minister of Mines and Energy

• Hon. Mamaka Bility, Minister of State Without Portfolio

• Hon. Morley Kamara, Economic Advisor to the President

A Vision for Economic Growth

Upon his return, President Boakai addressed the importance of reliable and affordable electricity for Liberia’s economic future. “Reliable and affordable electricity is essential for Liberia’s progress,” he stated, emphasizing that the energy compact will be a “game-changer” for the country. He reaffirmed that the investments secured at the summit will translate into tangible improvements in the lives of Liberians, driving industrialization, job creation, and economic growth.

The Liberian leader also expressed confidence in the strong support of international partners, including the World Bank and the African Development Bank (AfDB), in helping to realize Liberia’s energy transition. “This partnership will strengthen our energy infrastructure, provide electricity to underserved communities, and pave the way for future industrial development,” he added.

A Key Milestone in Africa’s Energy Agenda

The Mission 300 Africa Energy Summit brought together African leaders, investors, and international stakeholders to explore solutions to the continent’s energy challenges. Alongside Liberia, 11 other African nations, including Chad, Côte d’Ivoire, Nigeria, and Tanzania, also presented their National Energy Compacts, each setting ambitious goals for electrification and energy access.

As part of the summit’s broader goals, African countries committed to expanding energy infrastructure at competitive costs, promoting renewable energy solutions, and encouraging greater private-sector participation. The next phase will focus on mobilizing the pledged funds and ensuring that the benefits of this investment reach every corner of Liberia.

Looking Ahead: Energy as a Driver of Development

Liberia’s National Energy Compact is part of a broader effort to integrate the country into regional power networks, strengthen the Liberia Electricity Corporation (LEC), and attract private-sector investment. The plan prioritizes renewable energy solutions, such as solar, hydro, and mini-grid systems, to ensure sustainable, affordable electricity for Liberia’s citizens.

The signing of this historic agreement and the country’s commitment to electrify 75% of its population by 2030 marks a transformative step for Liberia and the broader West African region. With these critical investments in energy infrastructure, President Boakai is positioning Liberia as a key player in the African energy transition.

“We cannot develop as a nation without energy. This compact is a game-changer for Liberia,” President Boakai concluded. “It will drive industrial growth, create jobs, improve service delivery, and most importantly, provide our people with the dignity of living in a modern economy.”

As Liberia moves forward with this groundbreaking energy initiative, the government remains committed to working with international partners to implement the Energy Compact and transform the country’s energy landscape. The future is bright for Liberia, as this investment promises to power the nation and provide sustainable energy solutions for generations to come.