BOAD approves CFA37 billion for Lomé petroleum storage expansion

BOAD has approved CFA37 billion in financing for Complexe pétrolier de Lomé, COMPEL SA, to expand petroleum-product storage in Togo, the official government portal reported on 25 September 2026. The operation is intended to add 170,000 cubic metres of national storage capacity. The approval was made during the bank’s 152nd ordinary board session in Lomé on 24 September. The government portal says the expansion should strengthen energy security in Togo and neighbouring hinterland markets. It does not report completed tanks, initial fuel deliveries or a commissioning date. A separate CFA45 billion operation supports the third phase of the agricultural mechanisation and irrigation programme, bringing the two approvals for Togo to CFA82 billion. That agricultural amount is distinct from the petroleum-storage financing and should not be counted as investment in COMPEL. The agricultural programme includes development of 530 hectares and irrigation equipment. Both operations were presented as newly approved financing. The report does not provide disbursement milestones, lending conditions, a construction contractor or a detailed implementation timetable for the storage expansion.