The LDP was founded in January 2004 by Nathaniel Barnes, who served as finance minister under President Charles Taylor.
[3] In the 2005 election, Barnes served as the party's presidential candidate, with Parleh Dargbeh Harris as his running mate.
[4] In the subsequent run-off election, the LDP supported the Unity Party (UP) candidate, Ellen Johnson Sirleaf.
[4] In the 2009 River Gee County by-election caused by the death of Senator Isaac N. Johnson, Nathaniel Williams of the LDP was elected over the ruling UP candidate Conmany Wesseh.
The LDP was accused of not meeting the standard for submitting statements to the NEC detailing the assets and liabilities of the party and its candidates.