Sinoe County Senator Crayton Oldman Duncan has pointed finger at bad concession agreements as the primary cause of Liberia’s stagnation and underdevelopment.
In his address over the weekend at the United Guy’s For Progress event in Samukai Town, Upper Caldwell, Duncan argued that while corruption accounts for only 20% of Liberia’s problems, a staggering 80% stems from leaders failing to hold foreign companies accountable for exploiting the nation’s resources.
Duncan stressed that the current 30% royalty paid by concessionaires is far too low, preventing Liberia from unlocking its full potential.
He blasted Liberia’s leadership for remaining silent out of fear of international sanctions, accusing them of enabling foreign corporations to loot the country’s wealth.
According to him, until citizens demand that these bad deals be reformed, suffering will continue.
He noted that leaders of the country are silent because they are benefiting from kickbacks, claiming that they lack the courage to confront these “bogus agreements”.
The senator’s remarks underlined a growing concern among Liberians that the country’s vast natural resources are being exploited at the expense of its development.