Nigerian billionaire and Chairman of Heirs Holdings, Tony Elumelu, is backing a proposed $15 billion funding pipeline aimed toward financing vital infrastructure tasks throughout West Africa and addressing the area’s infrastructure deficit.
Elumelu, who additionally serves as co-chair of the West Africa Integration and Funding Summit (WAIIS), disclosed the initiative in an e-mail reaction to questions from Bloomberg, which reported the improvement on Thursday, October 15, 2026.
The initiative comes to figuring out viable tasks throughout a number of West African nations and presenting them to possible financiers, together with United Financial institution for Africa (UBA), Afreximbank, Africa Finance Company (AFC) and Africa50, forward of the inaugural summit in Sierra Leone in November.
Summit objectives $15 billion infrastructure pipeline
Consistent with Elumelu, the proposed funding portfolio will prioritise power, industry, industrialisation, strategic minerals, agriculture and virtual infrastructure tasks regarded as very important for West Africa’s financial building.
The initiative has attracted considerable pastime from venture builders, with organisers narrowing down submissions to a portfolio regarded as appropriate for presentation to possible traders.
Kandeh Kolleh Yumkella, Particular Envoy for the West Africa Integration and Funding Summit, disclosed that 170 proposals have been gained, with 26 tasks decided on from greater than 10 nations.
- “We gained 170 venture submissions and feature decided on 26 actual tasks price greater than $10 billion from over ten nations,” Yumkella mentioned in a observation issued by means of the summit organisers.
- “We think that portfolio to achieve $15 billion or extra,” he added, indicating that the worth of decided on tasks may build up earlier than the November summit.
The summit, initiated and convened by means of Sierra Leone’s President, Julius Maada Bio, is anticipated to carry in combination governments, traders and building finance establishments to boost up financing for strategic regional tasks.
Nigeria-Morocco gasoline pipeline advances regional integration
The most recent funding initiative comes as West African nations pursue main cross-border infrastructure tasks aimed toward strengthening regional connectivity, power safety and financial integration.
A few of the maximum distinguished is the $25 billion Nigeria-Morocco Gasoline Pipeline, often referred to as the African Atlantic Gasoline Pipeline, which is being evolved with the backing of the Financial Group of West African States (ECOWAS).
The proposed pipeline will shipping herbal gasoline from Nigeria via a number of West African nations to Morocco, with connections to Ecu power markets.
- In June 2022, the Federal Government Council authorized the Nigerian National Petroleum Company Limited (NNPC Ltd.) to negotiate an agreement with ECOWAS to advance the cross-border pipeline venture.
- Via December 2022, Nigeria, Morocco and ECOWAS had formalised cooperation through a memorandum of understanding covering project development and financing. NNPC therefore signed further agreements involving The Gambia, Guinea-Bissau, Guinea, Sierra Leone and Ghana.
- Extra lately, in April 2026, Nairametrics reported that Nigeria and Morocco were preparing to conclude an intergovernmental agreement supporting plans to move as much as 30 billion cubic metres of herbal gasoline every year.
- The deal moved ahead when, in July 2026, ECOWAS member states signed an intergovernmental agreement in Sierra Leone, organising a framework for venture control, regional coordination and funding mobilisation.
The tendencies spotlight the rising emphasis on regional infrastructure funding as West African economies search to deal with longstanding financing gaps and make stronger financial integration.
Elumelu expands Seplat Power stake
Past regional infrastructure financing, Elumelu has endured to increase his investments in Nigeria, specifically within the power and fiscal services and products sectors.
- On September 30, 2026, Heirs Energies Restricted, an organization managed by means of Elumelu, got an additional six million shares in Seplat Energy Plc, expanding the blended holdings of Heirs Energies and Heirs Holdings from 120.4 million to 126.4 million stocks.
- The transaction raised their blended vote casting pastime in Seplat from 20.07% to 21.07%, additional strengthening Elumelu’s place within the power corporate.
- Consistent with a Nairametrics research revealed on October 5, the estimated marketplace worth of Elumelu’s investments in Seplat Power, UBA and Transnational Company Plc higher by means of N684.59 billion between June and September 2026.
The blended worth of the 3 holdings rose from roughly N1.74 trillion on the finish of June to N2.43 trillion in September, representing a 39.3% quarterly build up.
Seplat accounted for N654.20 billion, roughly 95.6% of the entire appreciation, whilst UBA contributed N44.50 billion.