BOAD Funded YATT&CO Expansion Into Benin Oil Assets
The firm secured $30.3 million to acquire storage and logistics infrastructure, expanding its footprint in the regional petroleum sector.
Updated on Sept. 28, 2026 in Oil and Gas
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The West African Development Bank (BOAD) approved a $30.3 million financing facility for YATT&CO. The company will use the capital to acquire oil storage facilities, a petroleum terminal, and service stations in Benin.
Why it matters
The investment enables YATT&CO to move beyond retail fuel distribution into core storage and logistics operations. The expansion capitalizes on market shifts in Benin, where the formal fuel sector has grown rapidly following the removal of fuel subsidies in neighboring Nigeria.
The West African Development Bank approved $30.3 million in financing for YATT&CO, a firm with CFA500 million in share capital. This investment supports growth in a market where formal fuel distribution share has expanded from 11% to 27% since 2023.
The players
YATT&CO
A petroleum distributor and energy investor operating across West Africa with headquarters in Lome.
West African Development Bank
A regional development finance institution that provides funding for infrastructure and economic integration projects.
The details
YATT&CO, which operates out of Lome, is leveraging this capital to vertically integrate its Beninese operations. By acquiring physical terminals and storage assets, the firm aims to secure supply chain control as demand for formal fuel distribution increases. The acquisition strategy follows a broader trend of private distributors scaling infrastructure to meet regional demand shifts spurred by pricing changes in neighboring Nigeria.
Timeline
May 2023: Nigeria removed fuel subsidies, triggering cross-border market changes.
2023: Benin introduced a new petroleum licensing framework.
2026: Yattassaye & Company Energy International was established in Lome.
September 2026: BOAD officially approved the financing for YATT&CO.
Market Landscape
This investment follows the regional market restructuring triggered by Nigeria's May 2023 fuel subsidy removal. The shift has forced distributors to secure reliable storage and terminal infrastructure to capture the growing formal fuel market share.
Operators in the regional energy sector should monitor how increased infrastructure investment alters local fuel supply chain costs. Companies should track whether the growth in formal distribution licenses continues to favor firms with large-scale terminal access.
The takeaway
Vertical integration into storage and terminal assets is becoming a critical competitive advantage for West African fuel distributors. Track the formal fuel distribution share in your specific market as a leading indicator of demand for large-scale storage capacity.
Further reading
For more on regional petroleum trends, see Oil and Gas.
Source note: This article includes information reported by Ecofin Agency.
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