Nigeria, Others Need $3bn Settlement Fund to Unlock $3 Trillion Energy Market – THISDAYLIVE

At the West African Refined Fuel Market conference, RHG Advisory Chairman Suleiman Yahyah argued that West Africa requires a systems-based approach—including a $3 billion regional settlement facility anchored in the Naira, harmonized regulations, and cross-border infrastructure integration—to unlock a potential $3 trillion cumulative energy market by 2035. He emphasized that the region cannot rely on isolated national projects and proposed a model where countries "regulate nationally and transact regionally," supported by common product specifications, shared data standards, and a regional dispute resolution mechanism.

Yahyah highlighted liquidity and talent as critical enablers, calling for collaboration among central banks, the African Finance Corporation, AfDB, sovereign wealth funds, and the African Energy Bank to establish the settlement facility, potentially leveraging the Pan-African Payment and Settlement System. He also stressed the need for skilled professionals, strategic partnerships with global market institutions like S&P Global and Bloomberg (structured around local content), and the inclusion of Angola and Algeria as observers. Ultimately, he said success should be measured by improved energy access, affordability, clean cooking transition, poverty reduction, and regional welfare.

(Source：Thisdaylive)