Liberia: Liberia Sells Off Valuable Oil Assets Amid Brewing Scandals

Feb 27, 2015 | Front Page Africa
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Liberia has been struggling to get back on track- lacking infrastructure, basic social services, with huge unemployment characterized by raging poverty, but the country is blessed with vast natural resources which have not transcended into making an impact in the lives of a population of less than four million people. The country has huge deposits of iron ore, which attracted several companies during postwar years, but the operations of these companies did not leave behind any tangible development after tons of iron ores were exported from the country.

Having one of the largest rainforest in West Africa along with gold, diamond and other resources, the country is still one of the poorest in terms of growth and human development and the recent news of the possible discovery of offshore oil with big international corporations, including Chervon, Exxon Mobil all expressing interest in getting oil blocks in the country, the hopes of the population have been high that life will improve soon but it seems the country is still far away from doing away with the aged old trend of bad governance.