Liberia is on the verge of crossing the US$1 billion domestic revenue threshold, with Finance and Development Planning Minister Augustine Kpehe Ngafuan predicting that government revenue could hit the historic mark as early as September 2026.
Ngafuan made the disclosure Thursday, August 19, 2026, while officially launching the Liberia Revenue Authority’s Corporate Strategic Plan 2025–2029, describing the anticipated milestone as a major achievement for the country and challenging revenue authorities to ensure Liberia does not fall below the billion-dollar mark once it is reached.
“By September, sometime in September, we will hit the $1 billion mark. We will soon be in the billions. And we must remain in the billions. We must sprint in the billions,” he declared. The finance minister recalled that when the government submitted its approximately US$1.2 billion draft national budget for 2026, the projection was greeted with a mixture of optimism and skepticism, with some critics describing the target as unrealistic and unattainable.
According to him, the government’s revenue performance is now moving closer to validating the ambitious projection. “Today, we are knocking on heaven’s door, arguing that reaching the billion-dollar threshold would not be an achievement for President Joseph Nyuma Boakai, the Ministry of Finance or the LRA alone, but for the Liberian people, taxpayers, the Legislature, Judiciary, ministries, agencies and state-owned enterprises,” Ngafuan said.
However, he cautioned that crossing the US$1 billion mark would not automatically translate into immediate prosperity for ordinary Liberians. “We cannot brag about hitting the billions. But that does not mean milk and honey is flowing on Broad Street,” he cautioned, stressing that growing government revenue must be translated into development and improved public services.
Ngafuan praised the leadership of the LRA and its workforce for the country’s revenue performance, while crediting the Legislature for revenue reforms and the Judiciary for supporting the protection and collection of government revenue. He said the Ministry of Finance would continue providing policy and strategic support to the LRA, describing the revenue authority as the government’s “ground trooper” in the battle to mobilize domestic resources.
The finance minister also disclosed that the government is considering a broader incentive and bonus system for revenue-generating institutions and state-owned enterprises that meet or exceed their revenue targets. “If you have a situation where you give a revenue target to an SOE, and they meet the target, we need to look at incentivizing them, adding that the government wants a holistic system that rewards institutions contributing significantly to revenue generation,” he added.
But while revenue performance is creating optimism, Ngafuan revealed mounting pressure on the expenditure side as the government prepares the proposed 2027 national budget. He disclosed that, as of August 15, spending requests submitted for consideration had reached approximately US$1.919 billion, with additional requests still coming. “The requests are still coming. As they hear that we’re knocking on heaven’s door, the requests are coming,” Ngafuan said.
According to him, the government would have to balance growing demands against realistic revenue expectations, promising that the administration would not submit what he called a “fluffy or elastic” budget simply to accommodate every request. “We’ll be realistic. We will not just present a budget that is fluffy or elastic. We’ll present a budget that is realistic and achievable,” he narrated.
Ngafuan said the government would prioritize critical national development interventions under President Boakai’s ARREST Agenda for Inclusive Development, including roads and electricity, while supporting institutions whose performance is helping expand the country’s fiscal space.
Officially launching the strategy on behalf of the government, Ngafuan challenged the LRA to move beyond planning and deliver measurable results. “Let us move from strategy to implementation and from implementation to results. We must remain in the billions. We must sprint in the billions. That is our task,” he stated.
The LRA Corporate Strategic Plan 2025–2029 is expected to guide domestic resource mobilization over the coming years, strengthen revenue administration and contribute to Liberia’s long-term fiscal sustainability.
