The National Oil Company of Liberia (NOCAL) today launched a high-level three-day Strategic Retreat in Buchanan, marking a critical milestone in Liberia’s pursuit of energy independence and sustainable development. Under the theme "Forging a Resilient Energy Future," the retreat brings together sector leaders, policymakers, and global partners to align Liberia’s hydrocarbon strategy with President Joseph Nyuma Boakai’s ARREST Agenda.
The Acting CEO/President Fabian M. Lai opened the retreat with a bold declaration: "This is Liberia’s moment to transform its energy sector into a powerhouse of equitable growth." He emphasized NOCAL’s commitment to operationalizing President Boakai’s vision, citing hydrocarbon exploration, governance reform, and strategic partnerships as top priorities. Lai praised the guidance of NOCAL Board Chairperson Cllr. Gloria M. Scott and reiterated the sector’s role in national development.
Cllr. Scott underscored the imperative of accountability: "Our oil and gas resources must directly benefit Liberians—through schools, hospitals, and infrastructure—not just revenues."
The retreat will deliver actionable plans to:
Expedite Exploration: Fast-track sustainable hydrocarbon discovery while safeguarding environmental and community interests.
Optimize Value Chains: Streamline operations from extraction to distribution for maximum local impact.
Strengthen Governance: Embed transparency and global best practices to attract ethical investment.
Leverage Partnerships: Forge alliances with hydrocarbon leaders like Nigeria and Ghana through G2G collaborations.
Mr Lai challenged attendees with pivotal questions:
"How do we avoid the resource curse while ensuring wealth reaches every Liberian?"
“What concrete steps will enforce the 2% Community Development Fund and gender-inclusive energy entrepreneurship?"
Representing President Boakai, Minister of State Samuel Steve Stevquoah affirmed the government’s unwavering support: "Every barrel of oil must translate into roads, jobs, and clinics. NOCAL’s success is Liberia’s success."
The retreat’s outcomes will directly shape Liberia’s energy policies, ensuring the sector becomes a catalyst for industrialization, job creation, and shared prosperity. As NOCAL leads this charge, Liberia stands poised to harness its resources for long-term, inclusive growth.