Vice President Boakai Give ECOWAS High Marks

Friday, 8th October 2010

Monrovia, Liberia - Vice President Joseph N. Boakai, Sr. has commended the Economic Community of West African States for its innovativeness in trying to find answers to issues that are critical to development in the sub-region.

He made specific reference to plans to set up an ad hoc committee that will oversee mining development in ECOWAS States.

Vice President Boakai made the commendation Friday, when the President of the ECOWAS commission, Ambassador Peter Victor Gbeho who is in the country to attend a meeting of mining experts from West African states, made a courtesy call on him at his Capitol Building office.

He observed that mining is very critical to development, but lamented that this sector is not properly monitored and regulated in the West African sub-region. He further lamented that the enforcement of mineral regulations is not effective.

The Liberian Vice President said as one of the areas that bring in much needed revenue and hence critical to development, the mining area needs to be given the required attention in the sub-region. 

He assured Ambassador Gbeho that the Liberian Government will ensure that the mining sector is given the needed attention to highlight its importance as a source of revenue.
Briefing the Vice President earlier, Ambassador Gbeho said he was in the country to chair a meeting of experts in the mining sector from the West African sub-region.
He said the meeting is aimed at inaugurating an ad hoc committee that will oversee mining development in ECOWAS states.

He said the meeting was scrutinizing a proposal to harmonize regulatory frameworks to promote mining development in ECOWAS member states.

Ambassador Gbeho observed that mining still has a lot of challenges in the sub-region, and cited ďLack of uniformity in the payment of royalties in individual ECOWAS member states. For example, payment of royalties in Liberia is 5%, while in Sierra Leone, it is 3% Ē. He added that it would be in the interest of the sub-region to have uniform royalty rates..