On Friday, 10 July 2009, the President of Liberia, Ellen Johnson-Sirleaf, signed into law the Act Establishing the Liberia EITI. The President's signature means the Act is now effective.The LEITI Act is only the second dedicated piece of EITI legislation (following the NEITI Act in Nigeria), though many implementing countries have issued presidential or ministerial decrees or have amended existing legislation to establish a legal framework for the initiative.The LEITI Act requires that all government agencies and extractive companies comply with the Liberia EITI process. It goes far beyond the core EITI requirements, in that it covers the forestry and rubber sector, as well as oil, gas and mining. It also requires that the reports published payments by individual companies, and that operating contracts and licenses are published and reviewed.
EITI Chairman, Peter Eigen welcomed the Act by saying "The Liberia EITI Law is a further signal of the commitment of the Government of Liberia to improve the management of their abundant natural resources. I admire how Liberia has taken the initiative and adapted and extended it to address the key issues in the country. This sets an excellent precedent for other implementing countries in the region".
Global Witness, an international NGO published a press release on Monday 13 July, calling the LEITI Act "a new benchmark for transparency because of its wide scope and clarity about what needs to be disclosed". Radhika Sarin from the global civil society coalition Publish What You Pay says the Act "puts Liberia at the forefront of transparency and governance efforts in the extractive sector" in a press release on Tuesday 14 July.
The full wording of the LEITI Act can be found on the Liberia EITI website.