By Lincoln G. Peters
CAPITOL HILL, Monrovia, October 21, 2026 – Commerce and Industry Minister-designate Stephen M. Yekeson Jr. has unveiled an ambitious plan to reduce Liberia’s dependence on imports and expand domestic production, declaring that by 2029, the country should produce more of the goods it consumes.
Appearing before the Liberian Senate for his confirmation hearing on Wednesday, October 21, Yekeson outlined a strategy focused on increasing local production, strengthening Liberian-owned businesses, creating jobs and ensuring that essential commodities remain available at affordable prices.
“My vision is simple: by 2029, Liberia should produce more of what Liberia consumes, using more of our own labor, land, capital, and enterprise,” Yekeson told senators.
He said the proposed transformation would form the Commerce Ministry’s contribution to President Joseph Nyuma Boakai’s ARREST Agenda for Inclusive Development.
As part of his first 100-day deliverables, Yekeson pledged to introduce weekly publication of rice, fuel and cement prices across Liberia’s 15 counties to strengthen market monitoring and promote transparency.
He said the initiative would subsequently expand to cover 40 essential commodities commonly consumed by Liberian households within his first year in office.
“You cannot protect a price you do not measure,” he declared.
Yekeson also promised to establish a monitoring unit within the Ministry to track the implementation of key programs and regularly assess progress.
“I will set up a unit to track the Ministry’s delivery, and I will return to this Committee every quarter with numbers, not promises,” he assured lawmakers.
The Minister-designate said his broader economic strategy would prioritize import substitution, a policy aimed at increasing domestic production of goods currently imported into the country.
He explained that the approach would focus on utilizing Liberia’s labor force, agricultural resources, financial capacity and entrepreneurial potential to stimulate industrial growth.
According to him, Liberia continues to export substantial quantities of raw materials without processing them locally, depriving the country of opportunities to generate additional revenue and create employment.
“Today our iron ore leaves as rock, our gold as dust, and our rubber raw. The value is added somewhere else, and the jobs go with it,” Yekeson observed.
He said the Ministry would collaborate with the Ministries of Mines and Energy and Agriculture to strengthen local content requirements, particularly by encouraging mining companies and agricultural plantations to procure food, transportation and other services from Liberian businesses.
“Working with the Ministry of Mines and Energy and the Ministry of Agriculture, we will start where we can move fastest: mines and plantations buying their food, transport, and services from Liberian businesses through enhanced local content requirements,” he stated.
Yekeson further disclosed that his administration would pursue medium- and long-term measures to address electricity and infrastructure constraints that continue to undermine domestic manufacturing and industrial development.
He said improving these conditions would help attract investments in processing facilities, allowing Liberia to retain more value from its natural resources rather than exporting them primarily in raw form.
The ultimate objective, he emphasized, is to create better-paying jobs and expand commercial opportunities for Liberian micro, small and medium-sized enterprises.
Reflecting on his professional background, Yekeson cited his previous service as Deputy Commissioner of the Liberia Maritime Authority and Deputy Minister of Public Works, as well as his private-sector experience as Chief Financial Officer of South Atlantic Capital Group and President of Panchariya Group West Africa.
He said those experiences had given him an understanding of both government operations and the challenges confronting investors and local entrepreneurs.
According to him, his experience in the public and private sectors has prepared him to address the concerns of investors seeking predictable business conditions and Liberian entrepreneurs struggling to access financing.
He urged senators and the Liberian public to evaluate his leadership based on measurable results rather than policy pronouncements.
Yekeson maintained that the Ministry’s fundamental responsibility is to ensure that goods and services are available to Liberians when needed, meet acceptable quality standards and are sold at fair prices.
He also pledged to submit his comprehensive strategy to the Cabinet for consideration while welcoming legislative oversight of its implementation.
“Mr. Chairman, the President has asked us to love Liberia and build Liberia. In Commerce, that means: Made in Liberia. Bought in Liberia and across Africa. Built by Liberians,” he declared.
“With your confirmation, that is the work I will lead,” Yekeson concluded.
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