Stephen Yekeson Jr. outlines economic vision to Liberian Senate

Stephen M. Yekeson, Jr., the Minister-designate for Commerce and Industry, presented his vision to the Liberian Senate during his confirmation hearing on October 21, 2026. Yekeson pledged to increase domestic production to meet national consumption needs by 2029, stating that local production “must never mean paying more at home.”

A central component of his plan is a commitment to publish weekly prices for rice, fuel, and cement across all 15 counties within 100 days. To manage costs, he proposed a Maximum Retail Price formula to serve as a price ceiling. Additionally, Yekeson vowed to investigate business ownership to ensure compliance with regulations regarding Liberian-only business sectors and to reduce the costs associated with transporting goods.

During the hearing, Yekeson addressed the disconnect between the strengthening Liberian dollar and rising market prices. He noted that despite the currency's performance, wholesalers have not consistently passed gains to consumers. He intends to utilize a reengineered Price Analysis Department and a better-resourced Inspectorate to address market abuses and price volatility.