June 2025 | Pan-African News Desk

Liberia’s President Joseph Nyuma Boakai has made headlines following the public release of his official asset declaration, a move seen by many as a gesture of transparency and leadership accountability. Filed with the Liberia Anti-Corruption Commission (LACC), the declaration outlines a total personal net worth of US$970,419.60 as of mid-2024.

Wealth Breakdown

According to the document, President Boakai’s assets are spread across multiple categories:

Real Estate: Valued at US$766,391.07, including residential and commercial properties.

Personal Assets: Including vehicles and livestock, totaling US$212,400—notably, this includes cattle and pigs worth over US$22,000 combined.

Bank Holdings: Cash and deposits held in Liberian financial institutions amount to US$61,295.96.

Fixed Equipment: Generators and equipment valued at US$126,082.57.

Liabilities: The President declared debts totaling US$201,500.


The President’s declared annual income is US$43,400.47, stemming from both his official salary and rental earnings from property.

The Lexus Controversy

Despite this step toward openness, public debate has intensified over President Boakai’s recent acquisition of two 2025 Lexus LX 700HR Super Ultra Luxury SUVs, with an estimated combined value of US$300,000. Critics argue the purchase contradicts earlier pledges to cut unnecessary government spending, particularly in a country still grappling with systemic poverty and economic uncertainty.

The Office of the President has yet to clarify whether the vehicles were bought with public or private funds. However, the backlash underscores the importance of aligning leadership lifestyle with national priorities.

Local Projects in Foya

President Boakai’s investments in his native Lofa County, particularly Foya District, have also drawn attention. Over the years, he has funded and supervised:

A 7-mile rural road construction project near Warsonga.

A clinic and a school for over 150 students, in partnership with development organizations.

Community-led fundraising for rural electrification in Foya Kama.


While not all of these projects appear in the recent declaration, they represent long-term commitments that reflect his roots in the region.

Funding Origins

Observers have noted that Boakai’s access to substantial annual allocations during his 12-year tenure as Vice President—ranging from US$1 million to over US$2 million annually—may explain the scale of his asset holdings. Additional income appears to come from property co-ownerships and long-standing investments.

The Pan-African Perspective

In a continent where public office is too often shrouded in secrecy, President Boakai’s move to disclose his wealth—despite the controversy—sets a notable precedent. However, transparency alone is not enough. Questions remain about procurement practices, spending discipline, and the ethical use of state resources.

As Pan-African citizens demand more from their leaders, Liberia’s unfolding story may serve as a lesson: that leadership is not only about good intentions, but about the consistency of those intentions in action.


16 Tribes® Kissi Proverb:

> “Kɔlɛɛ kɛ na maa yɛnɛ yɛ, na kɛ na bo wɔɔ.”
(Literal: A chief is not known by what he eats, but by what he gives.)