President Joseph Nyuma Boakai has launched a US$35 million expansion and modernization project at the Liberia Petroleum Refining Company (LPRC), a major investment expected to double the company’s share of Liberia’s national petroleum storage capacity from approximately 25 percent to 50 percent.
The project, which will add 50,000 metric tons of commercial petroleum storage capacity, is intended to strengthen Liberia’s energy security, improve petroleum supply reliability, and position the country to explore new opportunities in regional fuel storage and distribution.
Speaking Monday, October 26, 2026, during a ceremony at LPRC’s product storage terminal, President Boakai described the investment as a critical step toward reducing Liberia’s vulnerability to international supply disruptions, logistical challenges, and fluctuations in global petroleum prices.
He emphasized that petroleum security is fundamental to the country’s economic stability, noting that transportation, agriculture, mining, industrial operations, and essential public services depend heavily on the reliable availability of petroleum products.
“As a country that relies heavily on imported refined petroleum products, Liberia remains vulnerable to international supply disruption, logistical challenges, and fluctuations in global petroleum markets,” the President said. “While we cannot control international market conditions, we have a responsibility to strengthen our national infrastructure and improve our ability to respond to those challenges,” President Boakai said.
The expansion project will introduce modern automated systems, upgraded operational infrastructure, and enhanced safety facilities at the petroleum storage terminal. It will also establish Liberia’s first petroleum marine back-loading capacity, enabling petroleum products to be transferred from shore-based storage facilities onto vessels for coastal and regional distribution.
According to him, the marine facility could create new commercial opportunities for Liberia by allowing the country to take advantage of its strategic location along the West African coast. The project also includes coastal defense infrastructure and land reclamation measures designed to protect the terminal and other important national assets.
President Boakai said the investment should not be judged merely by the number of storage tanks constructed or the physical infrastructure delivered, but by its contribution to economic growth, employment creation, national energy security, and improved living conditions.
“Our objective is to strengthen Liberia’s energy security, improve national economic resilience, and create the conditions for greater investment, productivity, and prosperity,” he said.
The groundbreaking ceremony coincided with the dedication of two completed facilities: a modern petroleum product testing laboratory and a newly constructed 12,800-metric-ton petroleum storage tank.
The laboratory is expected to strengthen petroleum quality assurance, protect consumers, and improve the integrity of petroleum products entering the Liberian market. The additional storage tank, meanwhile, will increase LPRC’s storage capacity and improve its ability to support a more reliable supply of petroleum products.
President Boakai described the completion of the facilities as evidence of progress in the government’s efforts to modernize the petroleum sector and strengthen the country’s strategic infrastructure.
Speaking further, the Liberian leader said the three presidential visits to the facility had marked different stages of LPRC’s transformation, from the launch of earlier projects to the company’s first direct importation of refined petroleum products and the current expansion initiative.
The President revealed that the latest investment would significantly increase LPRC’s strategic role in Liberia’s petroleum industry, with its share of national storage capacity projected to rise to approximately half upon completion of the expansion.
Despite celebrating the milestones, President Boakai issued a strong warning to LPRC’s board and management, demanding transparency, financial discipline, operational safety, and responsible management of the new facilities.
He stressed that public institutions must demonstrate efficiency and accountability, particularly when they assume responsibilities that could otherwise be handled by private-sector operators. “If we take opportunities away from the private sector, we are giving you the responsibility to make sure that you are equally efficient and accountable to the Liberian people,” Boakai warned.
He instructed the LPRC Board of Directors and management to ensure that the facilities are properly maintained and that the US$35 million expansion is executed according to the highest standards of technical quality, environmental responsibility, and operational safety.
The President also called on the project’s implementing engineering partner, LUTEC Engineering, to uphold professionalism, quality, and timely execution. He commended LPRC Board Chairman Aaron Wega and members of the board for what he described as their strategic guidance and regular reporting on the company’s progress.
President Boakai further praised LPRC’s leadership, highlighting the role of capable and prepared Liberians in driving institutional transformation and delivering results. He said effective leadership should be measured by vision, competence, integrity, and the ability to produce meaningful outcomes rather than age.
