The Chairman of the CDC Council of Patriots (CDC-CoP), Foday N. Massaquoi, has strongly criticized Finance Minister Augustine K. Ngafuan, labeling him a “prayer band economist” and questioning his qualification to lead Liberia’s economic policy. Massaquoi argues that Ngafuan, an accountant by training, lacks the technical expertise and academic background required for the critical role of Finance Minister.
In his statement, Massaquoi highlights that Ngafuan’s educational background does not include a formal degree in economics, making him unfit to handle Liberia’s economic challenges.
He outlined Ngafuan’s academic credentials as diploma in accounting (1989) from the Booker Washington Institute (BWI), B.B.A. in accounting (minor in economics) from the University of Liberia (2000), M.B.A. in finance and accounting (2004) from the University of Rochester, USA, and a certificate in public financial management (PFM) from Harvard University.
Massaquoi emphasized that having a minor in economics does not make one an economist, comparing it to someone taking a few biology classes and calling themselves a doctor. He contrasted Ngafuan’s background with that of former Finance Ministers Samuel D. Tweah and Boimah Kamara, whom he described as individuals deeply trained in economics with a strong grasp of macroeconomic policies.
The CDC-CoP Chairman criticized President Joseph Boakai’s decision to appoint Ngafuan, arguing that it is a classic case of political loyalty over competence. He accused the Unity Party-led government of mismanaging the economy, pointing to recent $51 million aid cuts and on-going fiscal instability. Instead of implementing real economic strategies, Massaquoi claimed Ngafuan is relying on “prayer meetings” to navigate Liberia’s financial crisis.
“Liberia’s economy is in crisis, and instead of taking bold economic actions Ngafuan is turning to religious supplication. A Finance Minister should be crafting policies to stabilize the economy, not hosting prayer meetings,” Massaquoi stated.
He further warned that Liberia cannot afford incompetence at such a critical time, calling on the Boakai-Koung administration to correct this mistake before the country’s financial situation worsens.
This latest criticism adds to the growing pressure on the Boakai administration, which has been accused of fiscal mismanagement, corruption, and reckless spending. The CDC-CoP has vowed to continue exposing what they describe as “Unity Party’s failures and misplaced priorities”.
Massaquoi challenged the government to prove the opposition wrong by demonstrating real economic leadership rather than relying on what he termed as “empty rhetoric and religious interventions”.
“Liberia’s future is at stake. If the Unity Party believes Ngafuan is qualified, let them prove it with results. But as of now, all we see is reckless governance wrapped in arrogance and corruption,” he maintained.