Home Economy For Jobs Creation, Others: Boakai Eyes Oil, Gas Sector …Seeks Angola Best Formula

For Jobs Creation, Others: Boakai Eyes Oil, Gas Sector …Seeks Angola Best Formula

by newsmanager

LUANDA, ANGOLA: President Joseph Nyuma Boakai seems to be following the footprints of former President Ellen Johnson-Sirleaf by venturing into the oil and gas sector of the country.

During the regime of former President Johnson-Sirleaf, the government of Liberia, at the time, encouraged global oil giants including US-based Chevron and Exxon Mobile to invest in the Liberian oil sector.

Liberia, at the time, generated over US$100 million but the funds was allegedly squandered by erstwhile authorities of the National Oil Company of Liberia, (NOCAL), then, chaired by the former President’s son, Robert Alvin Sirleaf.

But, as President Boakai now struggles for much-needed Foreign Direct Investments (FDI) to, among others, create jobs for thousands of poverty-stricken youth, Liberia’s globally connected Foreign Minister, Sara Beysolow Nyanti, has embarked on what some keen observers characterized as ‘economic diplomacy’ with movers and shakers of the world aimed at attracting potential investors to the country.

Foreign Minister Beysolow Nyanti, a former topnotch official of the United Nations, now representing Liberia’s President Boakai, recently met with João Lourenço, President of the Republic of Angola.

The meeting was held at the Presidential Palace in Upper City, Luanda.

This high-level diplomatic engagement marks a significant step forward in bolstering bilateral relations, with emphasis on cooperation in the oil and gas sector.

During the meeting, both leaders expressed their commitment to deepening the collaboration between Liberia and Angola.

Foreign Minister Beysolow Nyanti conveyed President Boakai’s greetings and emphasized Liberia’s eagerness to learn from Angola’s wealth of experience and expertise in the oil and gas industry.

The discussions underscored the mutual benefits of such a partnership, aiming to harness Angola’s advanced technological capabilities and Liberia’s untapped resource potential.

President Lourenço highlighted Angola’s readiness to share knowledge, best practices, and technical support to assist Liberia in developing its oil and gas sector. This collaboration is expected to lead to substantial economic growth and jobs creation, significantly impacting Liberia’s socio-economic landscape.

The meeting also covered broader aspects of bilateral cooperation, including trade, investment, and capacity building.

Both parties acknowledged the importance of creating a conducive environment for private sector investment and collaboration.

The exchange underscored the necessity of establishing robust regulatory frameworks and infrastructure to support the growth of the oil and gas industry in Liberia.

Foreign Minister Beysolow Nyanti remarked: “This engagement signifies a new chapter in Liberia-Angola relations. We are committed to leveraging this partnership to boost our oil and gas industry, which is pivotal for Liberia’s economic diversification and development. We appreciate Angola’s willingness to support us in this critical sector.”

President Lourenço echoed these sentiments, stating that “Angola is pleased to collaborate with Liberia and share our experiences. This partnership not only strengthens our bilateral ties but also contributes to the stability and prosperity of the region.”

The meeting concluded with a mutual agreement to establish a joint task force to explore and implement strategies for cooperation in the oil and gas sector.

This task force will be responsible for facilitating technical exchanges, investment opportunities, and the development of joint ventures.

The diplomatic engagement between Liberia and Angola represents a significant milestone in their bilateral relations, reinforcing a shared vision of economic growth and regional stability through strategic cooperation in the oil and gas sector.

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