- ECOWAS announced the finalisation of a $75 million Renewable Energy and Energy Efficiency Facility to promote clean energy solutions across West Africa
- The new facility, offering grants, loans, and guarantees, would address energy challenges and support the transition to renewable energy in the ECOWAS region
- ECOWAS president Omar Touray also shared updates on ECOWAS initiatives, including the $75M renewable energy facility, the Rice Offensive project, and the Nigeria-Morocco gas pipeline
The Economic Community of West African States (ECOWAS) has officially finalised the framework for a $75 million Renewable Energy and Energy Efficiency Facility.
This announcement was made by ECOWAS President, Dr Omar Touray, during the 93rd Ordinary Session of the ECOWAS Council of Ministers in Abuja on Thursday.
According to Touray, the new facility will offer grants, loans, and guarantees through competitive calls for proposals, all aimed at promoting clean energy solutions across the ECOWAS region.
This initiative is part of ECOWAS's broader effort to address the region’s energy challenges and boost sustainability.
Touray explained, “A Framework Document for the Establishment of an ECOWAS Renewable Energy and Energy Efficiency Facility has been finalised by the Ministers. This is a new blended finance facility with an initial amount of $75 million, whose objective is to provide grants, loans, and guarantees through regular demand-driven competitive calls for proposals providing clean energy solutions for the ECOWAS region.”
In his address, Touray also highlighted the progress of ECOWAS’s “Rice Offensive” project, an initiative aimed at achieving regional self-sufficiency in rice production by 2035.
The project aims to produce 33 million tonnes of milled rice and requires between $15 billion and $19 billion in investments to improve storage, milling, and mechanisation processes in rice production.
Touray further said, “Towards regional self-sufficiency in rice production, the ‘Rice Offensive’ project, launched by the Commission in 2014 under the ECOWAS Agricultural Policy, has now reached a second cycle with the development of a Second Regional Action Plan (2025-2035) to replace the 2020-2025 plan, which is expiring next year.”
The ECOWAS president also touched upon the significant Nigeria-Morocco Gas Pipeline project, noting its importance for regional integration. The pipeline, which spans 6,800 kilometres, including 5,100 km offshore, will transport 30 billion cubic feet of natural gas annually. It will link Nigeria to Morocco, feed ECOWAS member states, and even extend to Europe.
“This regional integrative project aims to build a gas pipeline linking Nigeria to Morocco, feeding ECOWAS member states and Mauritania with future extension to Europe.
“It is an infrastructure of 6,800 km long, including 5,100 km offshore, with a transport capacity of 30 billion cubic feet of natural gas per year,” Touray added.
In addition to energy projects, Touray shared updates on the phased implementation of affordable roaming tariffs, which are now live in six ECOWAS member states. ECOWAS is also working on a proposed strategy to harmonise aviation charges, with plans to reduce passenger and security fees by 25%.
Nigeria, Morocco, ECOWAS drive $26bn African gas pipeline initiative
Meanwhile, TheRadar earlier reported that the Federal Government of Nigeria, in collaboration with the Economic Community of West African States (ECOWAS), Morocco, and Mauritania, reaffirmed its commitment to advancing the African Atlantic Gas Pipeline (AAGP) project, a transformative initiative estimated to cost $26 billion.
The project aimed to connect at least 13 countries and enhance regional economic growth.
