Liberia: Govt should be blamed for NOCAL Downfall- Woods

(Agence Ecofin) - Former Public Works Minister, Atty. Samuel Kofi Woods has blamed the leadership of President Ellen Johnson saying she is fully responsible for the collapse of the National Oil Company of Liberia (NOCAL).

He said government was aware that the NOCAL was going to collapse but did nothing to prevent the current situating facing the entity.

President Ellen Johnson Sirleaf few days ago endorsed the National Oil Company of Liberia (NOCAL) Board's approved Sustainability Action Plan (SAP) aimed at ensuring the viability of the entity so that it continues to pursue its mission to develop Liberia's hydrocarbon resources effectively in the best interest of the nation.

According to her the Board's Action Plan calls for drastic steps to bring costs under control and put NOCAL on a more viable financial footing, adding that these would include significant staff cuts, a reconstitution of the Board, and retirement or replacement of the senior executive leadership.

Madam Sirleaf pronounced the steps as essential to ensure that NOCAL performs its duties to manage and develop Liberia's oil resources, and to rectify recent mistakes in its performance.

"The leadership of this country is fully responsible and must take responsibility of what's happening at NOCAL, all the things they are talking about giving them severance pay is not correct, giving those guys money is not adequate, it is sufficient and is limited you cannot talk about an oil company collapsing and you are talking about retiring the head of the entity and giving him severance pay, how can you give people money at an Oil Company that has collapsed?" he asked while speaking with Allafrica

Moreover Atty. Woods calls on Liberian leader to order a comprehensive investigation of the activities of the Board of Directors of NOCAL headed by Mr Steward Cooper so as to establish the facts surrounding what he called mismanagement of funds at the oil company.