Executive Mansion, Monrovia – President Joseph Nyuma Boakai, Sr., has returned to the country following a successful visit to Dar es Salaam, Tanzania, where he attended the Africa Energy Summit held from January 27-29, 2025.

A key highlight of the Summit was the signing of the Dar es Salaam Declaration, in which African Heads of State committed to expanding electricity access to an additional 300 million people across the continent by 2030.

This landmark initiative aims to drive sustainable energy solutions and accelerate economic development across Africa.

During the Summit, President Boakai also signed the Liberia Energy Compact, solidifying Liberia’s commitment as a country partner of the World Bank in advancing its energy sector. Under this agreement, the World Bank has pledged to mobilize $1.5 billion in investments for Liberia’s energy infrastructure, with $800 million already allocated for the expansion of the St. Paul Hydro Project (Sp2 Project).

The Compact represents a major milestone in Liberia’s energy transformation, targeting a significant increase in electricity access. The initiative aims to expand access to 100,000 households annually, up from the current 70,000, with an ambitious goal of achieving 75% national electricity coverage by 2030, a substantial leap from the present 32.7%.

President Boakai was accompanied by a high-level Liberian 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

Speaking upon his return, President Boakai reaffirmed his Administration’s commitment to sustainable energy development as a driver of economic growth, industrialization, and improved living standards for all Liberians.

“Reliable and affordable electricity is essential for Liberia’s progress,” the Liberian Leader stressed, noting optimistically, “This Energy Compact is a game-changer, and we will ensure that these investments translate into real improvements in the lives of our people.”

The Government of Liberia remains committed to working with international partners to ensure the full implementation of this initiative, bringing clean, affordable, and sustainable energy to millions of Liberians in the years ahead, President Boakai assured.