By Patrick Massaquoi
(Cuttington Graduate School, School of Global Affairs)
Liberia is endowed and rich with natural resources, among them rubber, iron ore, and forest, just to name a few. These resources and agriculture are the backbone of Liberia’s economy.
Historically, mineral extraction, particularly iron ore, gold, and diamond, as well as forest products, are leading exported natural resources in Liberia. Despite these endowments in natural resources, the country is ranked as one of the poorest countries in the world (World Economic Outlook, 2023). However, these natural resources hold tremendous potential to generate revenue and a strong driver of socio-economic growth, livelihood, and constitute the means to finance education, construction of infrastructure, and other public goods, such a broad spectrum of national development. A quantitative study has proven that the impact of natural resources on Liberia’s development is huge on diverse stages and levels. According to Worldbank.org, 2023, Liberia’s economy expanded by 4.8% in 2022, despite global headwinds from the Russian invasion of Ukraine, high global inflation, and depressed demand in advanced economies. The expansion was driven by mining and a relatively good agricultural harvest. Growth in the agricultural sector accelerated to 5.9%, from 3.3% in 2021, on the back of increased rice and cassava production. Industrial output grew by 10.4% in 2022, largely driven by increased gold production. Growth in services slowed to 2.8 %, from 3.0% in 2021, reflecting a slowdown in construction services and hospitality.
Challenges of Resource-Driven Electoral Dynamics:
Liberia faces several environmental challenges that threaten its natural resources (unfccc.int). These include deforestation of tropical rain forest, hunting of endangered species for bush meat, pollution of rivers and coastal waters from industrial run-off and sewage, burning and dumping of household waste, degradation of natural resources (forestry, ecosystems, marine, wetlands and mangroves), and vulnerability to extreme weather. With said challenges faced, it is difficult for citizens to benefit from their resources.
Conclusion
In conclusion, in spite of all of the negative impacts and challenges experienced in the role of natural resources in electoral dynamics in Liberia’s development, it has tremendous potential to generate revenue, apparently boosting socioeconomic base and likelihood of electorates for national development in Liberia.
Recommendations
- Formulate good and strong policies on the exploitation of natural resources in the country.
- Consolidate the existing mining by-laws with favorable policies that will boost the socio-economic development of the electorates/country.
- Empower communities where natural resources are exploited with excellent opportunities.
- Increase taxes on the exploitation of natural resources in the country.
- All investors in natural resources businesses should register with both the national government and local government to reduce random exploitation.
- Adapt application of best practices and use sustainable agricultural and mining practices.
- Increase the use of more renewable energy and avoid single use plastics.
- Consolidate conservation laws or arts of protecting earth’s natural resources for current and future.
- Establish transparent and better mechanisms for monitoring. collecting, sharing. and assessing information on potential environmental impact.
- Establish complex laws of national and local laws. having both statutory and common law that regulate the use and protection of natural resources.
