Benin will earn at least CFAF 15 billion in revenue per year and more than 6.5% growth forecast by the AfDB in 2022. All this is thanks to the implementation of the Agadem-Semè pipeline, the longest in Africa, measuring 2,000 km. The 700km belonging to Benin will see over 35 million barrels of oil transported from Niger.
The project was initiated by the China National Petroleum Corp. Its implementation represents the largest private investment in the country since its independence.
However, there is no question of production. Indeed, Benin seems to have given up on exploiting its meagre oil resources.
This involvement in Africa’s oil sector and its financial benefits should help the government pursue its economic development strategy, even as the country completes a presidential election that saw Patrice Talon re-elected for a five-year term, his last constitutional term.
Photo credits: A C