Monrovia, Liberia – February 6, 2025 – The Liberian Senate has directed its Judiciary and Commerce Committees to review a proposal from Lofa County Senator Momo Tamuekollie Cyrus, seeking amendments to the country’s Patents and Associated Laws.
The move comes after Senator Cyrus raised concerns that these laws create obstacles for Liberian businesses and limit fair competition.
In his communication to the Senate, Senator Cyrus argued that many of these laws were enacted when Liberians had little participation in key business sectors.
As a result, he believes they have unintentionally restricted opportunities for local entrepreneurs and hindered economic growth.
One major concern highlighted by the Lofa lawmaker is the exclusivity granted to select companies for the production and importation of essential goods, including Clorox, detergents, and other general commodities. He noted that these restrictions stifle competition, limit consumer choices, and drive up prices, making basic goods less accessible to the public.
“The current structure of these laws stifles competition, limits consumer choices, and places an unnecessary burden on the Liberian people,” Senator Cyrus stated.
He urged his colleagues in the Senate to support his proposal, emphasizing that reforming these laws would foster a more competitive business environment, encourage economic growth, and protect consumers from monopolistic practices.
The Senate’s decision to mandate its committees for review marks the first step toward potential legal reforms that could create a fairer market for Liberian businesses.
