LPRC’s Move to Import Petroleum Risks Economic Sabotage, Massive Job Loss & Corruption 

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ADNews- Monrovia, Liberia: An alarming wave of concern is sweeping across Liberia’s petroleum sector following revelations that the Liberia Petroleum Refinery Company (LPRC) has allegedly ventured into the importation of fuel and gas, a move experts describe as a dangerous abuse of authority and a direct assault on private sector investment.

This unprecedented shift, reportedly executed without transparency or public accountability, violates longstanding arrangements between the LPRC and licensed private importers. For decades, LPRC’s mandate has been limited to collecting storage fees and providing regulatory and logistical support, ensuring the safe storage and coordination of petroleum products, not competing against the very private actors it regulates.

Jobs and Investments at Risk

Industry stakeholders warn that LPRC’s move threatens to upend a vital sector that sustains thousands of Liberian families. Private petroleum importers, many of whom have operated for years, reportedly employ networks of over 100 workers and contractors each. If LPRC’s alleged encroachment continues unchecked, hundreds of jobs could vanish, further exacerbating unemployment in a fragile economy.

“This is not business as usual,” one industry insider said. “This is a deliberate disruption of the private sector and a potential breach of both domestic and international laws.”

Troubling Foreign Ties and Alleged Corruption

More troubling are allegations linking LPRC to foreign entities under international sanctions or with histories of financial irregularities. If substantiated, these dealings could expose Liberia to international penalties, diplomatic fallout, and long-term damage to its financial credibility.

Equally disturbing are claims of covert financial interests among LPRC leadership, reportedly connected to upcoming petroleum shipments. Such involvement raises serious concerns about self-dealing, conflicts of interest, and systemic corruption.

Financial Institutions in the Crosshairs

Commercial banks have also been drawn into the controversy. Reports suggest that at least one major institution, Ecobank, may be financing LPRC’s controversial venture. Critics argue this could make such banks accessories to a scheme that undermines business norms, endangers jobs, and compromises national integrity.

“Financial institutions should take note,” a civil society activist warned. “Your involvement could be interpreted as complicity in economic sabotage.”

The situation has sparked calls for decisive intervention: Legislative Inquiry: Lawmakers must urgently investigate LPRC’s actions and their legality.

Anti-Corruption Oversight: Agencies such as the Liberia Anti-Corruption Commission and the Financial Intelligence Unit should probe all stakeholders involved.

Warning to Banks: Financial institutions are urged to reconsider any participation in transactions that could destabilize the petroleum sector.

Civil Society Mobilization: Labor unions, media organizations, and advocacy groups are encouraged to expose and resist what is being described as a hostile takeover of a vital economic sector.

Liberians, stakeholders warn, cannot afford to remain silent. Livelihoods are on the line.

“This is an economic ambush,calculated, coordinated, and catastrophic in its potential consequences if left unchecked,” one observer stated.