MONROVIA: New Minister of Commerce, Stephen M. Yekeson Jr., has issued a robust warning against “unjustified price increases”, stressing that his administration will strengthen the regular publication and monitoring of prices for major commodities across the country.
Acting Minister Yekeson emphasized that essential commodities, including Liberia’s staple food (rice), fuel, flour, sugar, cooking oil, and cement, will be closely monitored to promote “fair pricing and protect consumers from unjustified price increases.”
Minister Yekeson made the statement on Tuesday, October 6, 2026, at the Central Bank of Liberia (CBL), during the presentation of the CBL’s monetary policy under the theme: “Ensuring Liberians Benefit from a Stronger Dollar.”
Yekeson disclosed that the Ministry of Commerce will also strengthen the presence of market inspectors and consumer protection units in markets and shops across Liberia.
He further disclosed that Commerce Ministry will work with the Ministry of Finance and Development Planning (MFDP), and the Liberia Revenue Authority (LRA), to review import-related fees and other avoidable supply-chain costs that could contribute to higher commodity prices.
At the same time, Minister Yekeson announced plans for Commerce Ministry to collaborate with the Central Bank of Liberia (CBL) to require supermarkets, wholesalers, and retailers to display the CBL’s daily exchange rate.
According to Minister Yekeson, the measure is intended to prevent consumers from being charged, using arbitrary exchange rates.
He further disclosed that the Ministry of Commerce plans to digitize the Import Permit Declaration system and integrate it with Liberia Revenue Authority (LRA) systems, giving the government greater visibility into inventory and commodity prices from the port to the final consumer.
The Commerce Ministry new Boss however, clarified that the measures are not intended to punish legitimate businesses but to promote fairness between businesses and consumers.
“Our aim is not to punish legitimate business, but to ensure fairness: businesses that prosper and consumers who receive honest value,” he said.
Credit: SIMEON TROKONJAY
Towards Economic Empowerment And Reconciliation
