Liberia’s new President George Weah has ordered a review of concessions entered into by previous administrations, the presidency said in a statement on Wednesday.
The statement said a committee would “review and ensure that all contracts entered into by the government of Liberia and concessionaires are executed according to agreed principles in accordance with the laws of Liberia.”
The nine-member panel will also determine if the government’s partners in those agreements had been fully implemented and met their performance requirements.
During the 12-year rule of Weah’s predecessor, Ellen Johnson Sirleaf, the government attracted around $15 billion in foreign investment, according to a finance ministry report.
However, the West African nation has been criticised by watchdog groups for signing away much of its public land to logging, palm oil and natural rubber companies.
Sirleaf’s government sought to develop iron ore deposits and the offshore oil sector.
Since his inauguration as president, Weah has made headlines for the unconventional directives he has made to fulfil his campaign promises of reviving the economy and combatting corruption in the country.
SUGGESTED READING:President George Weah lays out his agenda for Liberians
George Weah’s presidency so far
- January 22: Weah sworn in as president of Liberia, promises a pro-poor governance system
- January 22: Weah makes first cabinet appointments, including two allies of former president Ellen Johnson Sirleaf
- January 26: Weah directs government institutions and agencies not to spend more than $3,000 for operational expenses
- January 29: Weah pledges to take a 25% salary cut, says Liberia is a ‘broke’ country
- January 29: Weah proposes constitutional reforms to allow foreigners apply for Liberian citizenship and own land
- February 7: Weah withdraws nomination of ‘corrupt’ and disbarred lawyer for justice ministry
- February 14: Weah orders review of Liberia’s concession agreements
Bola Ahmed Tinubu sworn in as Nigeria's new president
Russia offers support to Somalian army in fight against terrorist groups
Go to video
Nigeria's President-elect visits Europe
Togo president Faure Gnassingbe says 140 people killed in jihadist 'war'
Go to video
Bola Tinubu to become Nigeria’s president despite court challenges - minister
Go to video
I look forward to becoming a journalist after retirement - Kagame