By: Julius Konton
Liberian President Joseph Nyuma Boakai Sr. on Friday commissioned the newly constructed headquarters of the National Oil Company of Liberia (NOCAL), marking what the government describes as a strategic step toward revitalizing the country’s petroleum sector and strengthening national energy governance.
Speaking at the ceremony held near the Executive Mansion in Monrovia, President Boakai said the new facility represents more than an administrative upgrade, describing it as a “critical institutional investment” aimed at improving efficiency, transparency, and coordination within Liberia’s oil and gas industry.
“This headquarters must serve as a center of accountability, innovation, and results,” President Boakai said.
“The effective management of our petroleum resources is not optional, it is central to Liberia’s economic transformation and long-term energy security”, he re-emphasized.
Sector of Strategic Importance
Liberia currently imports more than 90 percent of its refined petroleum products, according to sector estimates, with fuel costs accounting for a significant share of household and business expenditures.
Energy imports also place pressure on foreign exchange reserves, making reforms in the petroleum sector a key economic priority.
The President emphasized that a well-functioning NOCAL is essential to reducing inefficiencies, attracting responsible investment, and ensuring that potential offshore oil and gas resources estimated to span over 30,000 square kilometers of sedimentary basins are managed in the public interest.
Call for Governance and Institutional Reforms
President Boakai called for robust and transparent intervention across the petroleum value chain, urging reforms that include:
Stronger regulatory oversight and compliance mechanisms
Improved corporate governance at NOCAL
Enhanced technical and human capacity development
Alignment with international best practices in oil and gas management
He warned that without accountability and professionalism, the sector would be unable to deliver tangible benefits to the Liberian people.
“This institution must earn public trust through integrity, competence, and measurable results,” he said.
Investment and Regional Competitiveness
Liberia remains an emerging player in West Africa’s hydrocarbon landscape, a region that produces over 5 million barrels of oil per day.
Government officials believe that modern infrastructure and institutional credibility are essential to positioning Liberia as a competitive and reliable destination for energy investment.
President Boakai encouraged closer collaboration between government agencies, private sector operators, and international development partners, noting that such partnerships are necessary to modernize infrastructure, stabilize fuel supply chains, and mitigate price volatility.
A New Operational Era for NOCAL
Officials said the new NOCAL headquarters is designed to enhance operational effectiveness, improve inter-agency coordination, and support policy implementation across the petroleum sector.
The facility is expected to streamline decision-making processes and provide a professional working environment aligned with the company’s expanded mandate.
The commissioning ceremony drew senior government officials, members of the Legislature, petroleum industry representatives, development partners, and NOCAL staff, underscoring the sector’s national importance.
As Liberia continues efforts to strengthen governance and unlock economic growth, the government says the new NOCAL headquarters symbolizes a renewed commitment to ensuring that the country’s energy resources contribute meaningfully to development, stability, and shared prosperity.
