COYPED Calls for Transparency in the Extractive Industries in Liberia

The Consolidated Youth for Peace & Development (COYPED) a registered civil society youth-led has made the latest call for transparency in the country’s extractive industries.


According to COYPED executive director, James Koryor natural resources provides government with significant amounts of revenues every year and these valuable sources of income should be used as basis to reduce poverty and to promote sustainable development in the country.


The youth advocate further stressed that lack of transparency and insufficient oversight mechanism has allowed revenue generated from the extractive industries to be misapplied or embezzled by individuals to the detriment of the greater Majority.


The COYPED boss also noted that despite Government expressed wiliness to improve natural resource governance in Liberia, the country will not maximize the benefits from oil revenue without transparency and substantial reforms.


Mr. Koryor further stressed that Liberians have not benefited from their resources all because of bad governance and selfishness stating that over half of the country population currently live in abject poverty despite we have over 120 registered companies in the extractive industries and the government boosting of over 16 billion investment been attracted to the country yet the common man in Liberia cannot afford his basic needs.


Mr. Koryor, said that his organization welcomes the drafting of the new petroleum law and stressed that it will be expedient for the Government to review all oil contracts since indeed these contracts were signed based on laws that were outdated and do not reflect international standards.


The youth advocate is at the same time calling on the National Legislature to enact laws in the interest of the masses and not few people. The youth group is calling for the revision of concession in other sector of the Extractive Industries in Liberia noting that some of these company that were granted concession license do not have the technical and financial capability such as Buchanan Renewable (BR) former Buchanan Renewable Energy and Elenilto who have benefited over 200 million at the expense of the Liberian people.


Views: 50


You need to be a member of Peace and Collaborative Development Network to add comments!

Join Peace and Collaborative Development Network

Sponsored Link

Please Pay What You Can to Support PCDN

Please consider Paying What You Can to help PCDN grow. We encourage you to consider any amount from $1 and up. Read the SUPPORT page prior to making a payment to see PCDN's impact and how your payment will help.

Sponsored Link

Translate This Page


PCDN Guidelines and Share Pages

By using this site you're agreeing to the terms of use as outlined in the community guidelines (in particular PCDN is an open network indexed by Google and users should review the privacy options). Please note individual requests for funding or jobs are NOT permitted on the network.

Click BELOW to share site resources Bookmark and Share
or Share on LINKEDIN




Latest Activity

Richard Close posted a video

UNDESA – DSPD CSocD54 Panelist “Massive, Self-Sustainable Collaborative Learning” Richard C Close

UNDESA – DSPD “Massive, Self-Sustainable Collaborative Learning” The 54th Session of the Commission for Social Development (CSocD54) Panel on Sustainable Edu...
54 minutes ago
Richard Close posted a discussion
59 minutes ago
Profile IconGladys Muthara, Ratu Ayu Asih Kusuma Putri, Inés Khalifa and 2 more joined Peace and Collaborative Development Network
3 hours ago
Jeff Pugh liked Conflict Resolution UMass Boston's discussion Attend the Summer Institute - Conflict Transformation Across Borders
3 hours ago
Betty Stoneman liked Craig Zelizer's blog post Guide to Key Resources for Funding Work in Peacebuilding, International Dev and Related Fields
4 hours ago
Sahro Ahmed Koshin shared a profile on Google +1
7 hours ago
Sahro Ahmed Koshin posted a status
"How best can we localise the Sustainable Development Goals (SDGs) in Somalia? Read #SIDRA's Policy Brief:"
8 hours ago
Sahro Ahmed Koshin updated their profile
8 hours ago

© 2016   Created by Craig Zelizer.   Powered by

Badges  |  Report an Issue  |  Terms of Service