Monrovia, Liberia: President Joseph Nyuma Boakai, Sr. has announced major reductions in the prices of rice and flour, two of Liberia’s most important food staples, as part of his administration’s broader efforts to stabilize the market and reduce the cost of living.
The announcement followed recommendations from the Presidential Ad-Hoc Committee on Price Contradictions, chaired by Vice President Jeremiah Kpan Koung.
According to the new price structure, the wholesale cost of flour has been cut from US$39.00 to US$35.00 per 100-lb bag, while the price of rice has been reduced from US$16.75 to US$14.00 per 25kg bag.
“These reductions represent my government’s commitment to ensuring that the ordinary Liberian family has access to affordable food. At the same time, we are working closely with producers and importers to maintain fair and sustainable trade practices that safeguard continuous supply.” President Boakai said.
The President also directed the Ministry of Commerce and Industry inspectorates, along with other relevant agencies, to rigorously enforce the new prices nationwide. He cautioned that individuals or businesses found inflating costs or engaging in artificial price hikes will face the full weight of the law.
While the price cuts take immediate effect, President Boakai assured that the Committee will continue engaging with key stakeholders to review cost drivers and identify additional measures to further ease market pressures.
He reaffirmed that price stabilization, food security, and relief for Liberian households remain central pillars of his administration’s economic agenda.
Written By: Jerry Laynumah Siakor
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