TheCable

The Economic Community of West African States (ECOWAS) says it requires about 5.2 billion dollars to address the infrastructure deficit in the sub-region.

Sediko Douka, ECOWAS commissioner for infrastructure, energy and digitalisation, spoke on Thursday at a press conference in Abuja, the nation’s capital.

Douka said financing the commission’s infrastructure will aid the achievement of its core objective of driving the sub-region’s economic growth.

He said ECOWAS leaders had approved the creation of a fund for the development and financing of the transport and energy sectors (FODETE).

The commissioner said the fund is financed by taxing member states’ main export resources like agriculture, oil and gas, and other natural minerals.

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

Douka explained that the call for addressing the commission’s infrastructure deficit is not a misplaced priority especially as ECOWAS has 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.