President Sirleaf Signs Bills into Law

Monrovia, Liberia - President Ellen Johnson Sirleaf has today signed into law 'An act ratifying the production sharing contract with addenda for offshore Liberia Blocks LB-8 and 9 signed between the Republic of Liberia represented by the National Oil Company of Liberia (NOCAL), REGAL Liberia Limited and European Hydrocarbons Limited’ at the Ministry of Foreign Affairs.  

The Liberian leader also signed into law ‘An act ratifying the production sharing contract with Addendum for offshore Liberia Block LB-15 signed between the Republic of Liberia represented by the National Company of Liberia (NOCAL) and Woodside West Africa Limited’ and ‘An act ratifying the production sharing contract with addenda for offshore Liberia blocks LB-16 and 17 signed between the Republic of Liberia represented by the National Oil Company of Liberia (NOCAL) and REPSOL Exploracion S.A.’

Also signed into law was an ‘Act ratifying the concession agreement between the Republic of Liberia and A.D.A. Commercial Inc’.
 
The A.D.A Commercial Inc. agreement, which is worth US$30 million dollars, will be invested in Lofa and Nimba counties. The Government of Liberia’s goal is to produce 75,000 metric tons of rice in about five years, which will be a third of the amount currently imported. This will yield substantial foreign exchange earnings into the country and is one of many ways of ensuring that food is made available. Additionally, the Government of Liberia will ensure that food assistance be made available to vulnerable populations and that there will be a consistent supply of rice on the market. The Government, through its agreemnent with A.D.A., will also ensure that assistance be given to farmers to enable them to grow more food.

Those present at the signing ceremony were Vice President, Joseph Boakai; Senator Daniel Naatehn; Montserrado County Representative Kettehkumehn Murray; and Nimba County Representative Nohn Kidau. Also present were Agriculture Minister, Dr. Chris Toe; and Minister of State for Legal and Economic Affairs, Morris Saytumah.