By Amos Harris
Monrovia, Liberia – Henry Saamoi, Executive Governor of the Central Bank of Liberia (CBL), has announced a significant reduction in the prices of locally produced food commodities across Liberia. He attributes this positive development directly to the Boakai administration’s aggressive efforts in rehabilitating roads and improving transport infrastructure nationwide.
Governor Saamoi made this disclosure on Tuesday during the official presentation of the Central Bank’s Monetary Policy Communiqué for the second quarter of 2025. Addressing journalists, government officials, and stakeholders from the economic and financial sectors, he underscored the critical link between infrastructure development—especially road rehabilitation—and macroeconomic stability, particularly price control in the agricultural sector.
“We have noticed a marked decrease in domestic food prices,” Governor Saamoi stated confidently. “The prices of local foods have reduced, and we must commend the central government’s efforts in road connectivity.”
According to the CBL chief, the improved state of rural and farm-to-market roads has enabled farmers in various counties to transport their produce more efficiently to major urban markets. This logistical improvement, he said, has not only enhanced food availability but also contributed to the stabilization and even reduction of market prices for key local agricultural products.
“When goods can move freely and on time, particularly perishables like vegetables, fruits, and other farm outputs, it removes some of the bottlenecks that traditionally cause price hikes,” he explained. “Farmers are now delivering their crops faster, fresher, and in higher volumes, creating a positive ripple effect across local markets.”
Governor Saamoi further revealed that this trend has had a favorable impact on the country’s overall inflation rate, which had previously hovered around alarming levels due to global price shocks, local market inefficiencies, and infrastructural bottlenecks.
“As a result of improved logistics and timely delivery of goods, inflation has seen a gradual decline,” he said. “At the beginning of the quarter, the inflation rate stood at 12.5 percent. It dropped to 11.1 percent during the period under review, and as per the latest review by my team, inflation declined even further to 9.9 percent by the end of June.”
He described this development as a critical milestone for Liberia’s post-COVID recovery strategy and a strong signal of macroeconomic resilience under the stewardship of President Joseph Nyuma Boakai, whose administration has prioritized infrastructure renewal as part of its ARREST development agenda (Agriculture, Roads, Education, Sanitation, and Tourism).
The Governor’s remarks come at a time when the Liberian government is doubling down on its agriculture-centric economic development strategy, which views food security as both a national priority and a pillar for long-term sustainability. The Ministry of Agriculture has partnered with local farming cooperatives, county authorities, and international development organizations to support the production and distribution of staple crops such as rice, cassava, maize, eddoes, and plantains.
Previously, rural farmers complained that the poor condition of Liberia’s roads, especially during the rainy season, resulted in significant post-harvest losses, inflated transport costs, and delayed access to markets. These factors contributed to high food prices in urban areas and economic disincentives in rural communities.
However, under the Boakai administration, major feeder roads and arterial transport corridors have seen significant rehabilitation, including the Ganta-Zwedru highway, the Buchanan-Gbarnga route, and key access roads in Lofa, Bong, and Nimba Counties – all regions known for their agricultural productivity.
“Food prices are stabilizing because farmers in Foya, Zorzor, Gbarpolu, and other remote areas now have better access to urban markets,” said a Ministry of Agriculture official at the Communiqué reading. “Trucks and motorbikes are transporting goods that used to spoil in villages; this is a game changer.”
overnor Saamoi used the event to emphasize the importance of aligning monetary and fiscal policy in support of national priorities. He noted that the Central Bank’s monetary strategy has been carefully calibrated to support government initiatives without overheating the economy or compromising monetary discipline. He applauded the Ministry of Finance and Development Planning (MFDP) for maintaining fiscal discipline in its disbursement of infrastructure and agricultural development funds, and called for continued synergy between the Bank and other public institutions.
“Macro-stability is a shared responsibility,” he said. “The Central Bank remains committed to maintaining price stability and a sound monetary environment that supports growth and encourages private investment.”
Local traders and consumers have already begun to notice the shift in food pricing. In marketplaces such as Red Light, Duala, and Paynesville, sellers say there has been a modest but noticeable drop in the prices of items such as rice, cassava, eddoes, peppers, and plantains.
“Cassava that was selling for 300 Liberian Dollars per bowl is now 200,” said Martha Johnson, a vendor at the Rally Time Market. “We are getting the goods faster, and they are not spoiling like before.” Other market women, speaking in local dialects, confirmed that many of their suppliers from Lofa, Nimba, and Bong now make regular deliveries due to improved roads, adding that such developments must continue for the benefit of ordinary citizens.
However, economists and analysts have cautioned that while the trend is promising, sustained investment is needed to prevent seasonal disruptions, particularly during the heavy rains, which often render some roads impassable despite recent repairs.
“This is good news, no doubt,” said Professor Jerry Kpadeh, a lecturer at the University of Liberia’s Economics Department. “But the government must now ensure that maintenance and climate-resilient infrastructure planning are integrated into all road development strategies.”
Beyond food prices, the Central Bank’s report also noted improvements in exchange rate stability, credit availability to productive sectors, and a modest rise in remittances. The Governor hinted that further policy measures may be introduced to support SMEs (small and medium-sized enterprises), agricultural value chains, and rural financial institutions. As part of its upcoming policy roadmap, the Central Bank is expected to work more closely with microfinance institutions and credit unions to extend affordable loans to smallholder farmers and agri-processors, enabling them to scale operations and better respond to market demands.
Governor Saamoi concluded his address with a reaffirmation of the Bank’s mandate to ensure financial and monetary stability. He called on all Liberians to play their part in ensuring that the current trajectory of food price stability, inflation control, and economic revitalization is preserved.
“We are on a positive path,” he said. “Let us stay the course and support the policies that are bearing fruits. Liberia can rise again, one step at a time, and it begins with roads, farms, and the courage to push forward.”
The Boakai government’s road rehabilitation efforts appear to be producing real economic dividends, as highlighted by Governor Henry Saamoi’s latest report from the Central Bank of Liberia. The correlation between improved infrastructure and reduced local food prices reflects a strategic shift toward inclusive development where farmers, traders, and everyday consumers all benefit from sound economic planning and policy execution. As the government moves into the second half of the year, expectations remain high for continued investment in roads, agriculture, and market systems.
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