Tony Elumelu backs $15 billion investment pipeline for West African infrastructure

Nigerian billionaire and Chairman of Heirs Holdings, Tony Elumelu, is backing a proposed $15 billion financial investment pipeline focused on funding vital facilities tasks throughout West Africa and attending to the area’s facilities deficit.

Elumelu, who likewise functions as co-chair of the West Africa Integration and Investment Summit (WAIIS), revealed the effort in an e-mail action to concerns from Bloomberg, which reported the advancement on Thursday, October 15, 2026.

The effort includes recognizing practical tasks throughout numerous West African nations and providing them to prospective investors, consisting of United Bank for Africa (UBA), Afreximbank, Africa Finance Corporation (AFC) and Africa50, ahead of the inaugural top in Sierra Leone in November.

Top targets $15 billion facilities pipeline

According to Elumelu, the proposed financial investment portfolio will prioritise energy, trade, industrialisation, tactical minerals, farming and digital facilities jobs thought about vital for West Africa’s financial advancement.

The effort has actually drawn in significant interest from task designers, with organisers limiting submissions to a portfolio thought about appropriate for discussion to possible financiers.

Kandeh Kolleh Yumkella, Special Envoy for the West Africa Integration and Investment Summit, revealed that 170 propositions had actually been gotten, with 26 jobs chosen from more than 10 nations.

• We got 170 task submissions and have actually chosen 26 genuine jobs worth more than $10 billion from over 10 nations,Yumkella stated in a declaration provided by the top organisers.
• “We anticipate that portfolio to reach $15 billion or more,” he included, showing that the worth of picked tasks might increase before the November top.

The top, started and assembled by Sierra Leone’s President, Julius Maada Bio, is anticipated to unite federal governments, financiers and advancement financing organizations to speed up funding for tactical local tasks.

Nigeria-Morocco gas pipeline advances local combination

The current financial investment effort comes as West African nations pursue significant cross-border facilities tasks targeted at reinforcing local connection, energy security and financial combination.

Amongst the most popular is the $25 billion Nigeria-Morocco Gas Pipeline, likewise referred to as the African Atlantic Gas Pipeline, which is being established with the support of the Economic Community of West African States (ECOWAS).

The suggested pipeline will carry gas from Nigeria through numerous West African nations to Morocco, with connections to European energy markets.

• In June 2022, the Federal Executive Council authorized the Nigerian National Petroleum Company Limited (NNPC Ltd.) to work out an arrangement with ECOWAS to advance the cross-border pipeline task.
• By December 2022, Nigeria, Morocco and ECOWAS had actually formalised cooperation through a memorandum of comprehending covering task advancement and funding. NNPC consequently signed extra arrangements including The Gambia, Guinea-Bissau, Guinea, Sierra Leone and Ghana.
• More just recently, in April 2026, Nairametrics reported that Nigeria and Morocco were preparing to conclude an intergovernmental contract supporting strategies to carry as much as 30 billion cubic metres of gas each year.
• The offer progressed when, in July 2026, ECOWAS member states signed an intergovernmental arrangement in Sierra Leone, developing a structure for task management, local coordination and financial investment mobilisation.

The advancements highlight the growing focus on local facilities financial investment as West African economies look for to attend to longstanding funding spaces and enhance financial combination.

Elumelu broadens Seplat Energy stake

Beyond local facilities funding, Elumelu has actually continued to broaden his financial investments in Nigeria, especially in the energy and monetary services sectors.

• On September 30, 2026, Heirs Energies Limited, a business managed by Elumelu, got an extra 6 million shares in Seplat Energy Plc, increasing the integrated holdings of Heirs Energies and Heirs Holdings from 120.4 million to 126.4 million shares.
• The deal raised their integrated ballot interest in Seplat from 20.07% to 21.07%, even more enhancing Elumelu’s position in the energy business.
• According to a Nairametrics analysis released on October 5, the approximated market price of Elumelu’s financial investments in Seplat Energy, UBA and Transnational Corporation Plc increased by N684.59 billion in between June and September 2026.

The combined worth of the 3 holdings increased from around N1.74 trillion at the end of June to N2.43 trillion in September, representing a 39.3% quarterly boost.

Seplat represented N654.20 billion, roughly 95.6% of the overall gratitude, while UBA contributed N44.50 billion.