Monrovia, Liberia – Augustine K. Ngafuan, the nominee for Minister of Finance and Development Planning, laid out a comprehensive policy vision during his confirmation hearing before the Senate’s Ways, Means, Finance, and Budget Committee. Grateful for the confidence placed in him by President Joseph Nyuma Boakai, Ngafuan vowed to address Liberia’s pressing fiscal challenges with dedication and humility.
In his address, Ngafuan outlined several key priorities, focusing on advancing Liberia’s development goals through strategic resource management, revenue enhancement, and targeted improvements in critical sectors like energy and agriculture.
A central theme of his statement was unlocking the potential of Liberia’s energy infrastructure. He stressed the importance of expanding paved road networks to connect counties and boost economic activity. Additionally, he highlighted the government’s commitment to strengthening agricultural production through the newly introduced “Liberians Feed Yourselves Agenda”, aimed at achieving greater food self-sufficiency.
Ngafuan also outlined his plans to revitalize the mining sector and improve the country’s budget planning and execution processes. He stressed the need for more accurate budget forecasting and efficient allocation of resources to avoid waste and mismanagement.
One of his key warnings was about Liberia’s growing debt burden. Ngafuan underscored the importance of disciplined debt management, cautioning that the nation’s increasing debt stock posed a serious risk of debt distress if not carefully monitored and managed.
Furthermore, Ngafuan committed to supporting Liberia’s climate action agenda by seeking out opportunities for climate finance, ensuring that the country remains a part of global efforts to combat environmental challenges.
In closing, Ngafuan pledged to lead the Ministry of Finance with a collaborative approach, prioritizing sound fiscal management to promote sustainable economic development and long-term prosperity for Liberia.
