President Joseph Nyuma Boakai, Sr. has issued Executive Order No. 157, exempting the Liberia Electricity Corporation (LEC) from the payment of customs duties and Goods and Services Tax (GST) on electricity generation, transmission, and distribution equipment, materials, and fuel.
The Executive Order is aimed at addressing the urgent need to reduce fuel and operational costs in order to sustain the provision of electricity to the Liberian people at reasonable and affordable rates.
LEC continues to confront significant external market pressures that have driven up operational expenses, particularly in the procurement, delivery, storage, and utilization of fossil fuels, notably Heavy Fuel Oil (HFO). These escalating costs present serious challenges to the corporation’s ability to maintain stable electricity tariffs while advancing its efforts to expand hydroelectric generation, especially at the Mount Coffee Hydroelectric Facility.
The President has recognized that the imposition of customs duties and GST on essential petroleum products and electricity-related equipment constitutes a volatile cost factor that could further strain LEC’s financial position and lead to higher electricity prices for consumers.
Executive Order No. 157 highlights the government’s intent to strengthening the operational and financial efficiency of LEC, supporting the transition toward increased reliance on hydroelectric power, and protecting the public from unnecessary tariff escalation.
The Government of Liberia (GOL) says they remain steadfast in their resolve to ensure reliable, sustainable, and affordable electricity as a cornerstone of national development and economic growth.
