Togo is strengthening its position as a regional energy and logistics hub after securing new financing from the West African Development Bank (BOAD) to expand petroleum storage capacity at the Lomé Petroleum Complex (COMPEL).

The financing, approved during BOAD’s 152nd Board of Directors meeting on 24 September 2026, includes CFAF 37 billion, equivalent to approximately US$64 million, for the expansion of petroleum storage infrastructure. The project is expected to add 170,000 cubic metres of storage capacity to the complex.

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The investment comes as Togo continues to develop Lomé as an important gateway for the movement and distribution of goods and energy products across West Africa. With its port infrastructure and strategic location along the Gulf of Guinea, the country has increasingly positioned itself as a link between coastal markets and landlocked economies in the region.

The additional storage capacity at COMPEL could strengthen Togo’s ability to receive, store and distribute petroleum products to neighbouring countries.

According to Togo First, COMPEL currently has an operational storage capacity of about 244,000 cubic metres. The planned expansion would therefore represent a substantial increase in the facility’s capacity.

The project is particularly relevant to countries such as Burkina Faso, Mali and Niger, which rely on regional transport corridors to access fuel and other essential commodities. Improved storage infrastructure in Lomé could support more efficient supply chains and provide additional capacity for the distribution of petroleum products into these markets.

For Togo, the development also reinforces the economic importance of its logistics sector. Greater energy-storage capacity can support port activity, transportation and associated services while strengthening the country’s role in regional trade.

The new financing is part of a broader package of BOAD-backed investments in Togo. The bank also approved financing for an agricultural development project aimed at expanding rice production and improving agricultural infrastructure.

The agriculture investment highlights the wider development strategy behind the financing: strengthening productive sectors while improving infrastructure that supports trade and economic activity.

The combination of energy and agricultural investment reflects the importance of infrastructure to Togo’s economic ambitions. Reliable storage, transport and production systems can help businesses operate more efficiently while improving the movement of essential goods.

Lomé’s strategic location allows Togo to capture greater value from regional trade. Continued investment in energy storage and logistics infrastructure could help the country deepen its role as a commercial gateway for West Africa.

The latest BOAD financing therefore represents more than an expansion of storage capacity. It is part of Togo’s broader effort to strengthen infrastructure, improve regional connectivity and position Lomé as a competitive hub for trade and energy distribution.

As infrastructure investment continues, the effectiveness of these projects will depend on how successfully they translate into more reliable supply chains, stronger regional trade and wider economic opportunities.