President Boakai Launches $35 Million Fuel Terminal Expansion

President Joseph Nyuma Boakai broke ground on October 26, 2026, for a $35 million expansion and modernization of the state-owned Liberia Petroleum Refining Company (LPRC) product storage terminal on Bushrod Island in Monrovia. The project aims to increase LPRC's share of national fuel storage from 25 percent to 50 percent, adding 50,000 metric tons of capacity across gasoline, diesel, and aviation fuel.

During the ceremony, the president dedicated a new 12,800-metric-ton gasoline storage tank and a petroleum product testing laboratory. The expansion, implemented by LUTEC Engineering, includes land reclamation, coastal defense infrastructure, and the introduction of marine back-loading facilities. These facilities are intended to allow Liberia to ship fuel to other coastal markets, positioning the country as a regional distribution hub.

President Boakai stated the investment is designed to reduce Liberia's vulnerability to international market disruptions, shipping delays, and import price swings. LPRC Managing Director Amos B. Tweh noted that the project is intended to serve as a hub to supply petroleum products to other parts of the region, strengthening energy security for the nation's transportation, agriculture, and mining sectors.