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ECOWAS Needs At Least $5.2bn To Address Infrastructure Deficit, Says Douka

The ECOWAS Commissioner for Infrastructure, Energy and Digitalisation, Sediko Douka said this in Abuja.


 

The Economic Community of West African States (ECOWAS) said it requires about $5.2bn to address the infrastructure deficit and help achieve its main objective of improving the economic growth in the region.

The ECOWAS Commissioner for Infrastructure, Energy and Digitalisation, Sediko Douka, told journalists in Abuja, that leaders of the region had in 2009 approved the creation of an ECOWAS fund,  for the development and financing of the transport and energy sectors (FODETE).

He explained that the fund is dedicated to financing regional infrastructure, and it is financed by taxing member states main export resources,  like agriculture, oil and gas as well as natural minerals.

He described FODETE as a viable funding mechanism expected to generate more than $350m annually.

Douka explained that the call to address the commission’s infrastructure deficit is not a misplaced priority, especially as ECOWAS had already implemented various regional electricity and energy projects towards economic integration and growth.

He listed the projects as the West African Power Pool (WAPP) in Cotonou, Benin; the Regional Electricity Regulatory Authority (ERERA) in Accra, Ghana; the Centre for Renewable Energy and Energy Efficiency (ECREEE) in Praia, Cape Verde; and the West African Gas Pipeline Authority (WAGPA) in Abuja, Nigeria.

Douka said ECOWAS also embarked on a regional off-grid electricity access project (ROGEAP), a regional electricity access project (ECOREAP), and a battery energy storage system (BEST) — all aimed at enhancing member states’ efforts in electricity supply.