The Gulf of Guinea (GoG), a region endowed with vast natural resources and strategic maritime routes, has long been recognized as a critical hub for global trade and energy production. However, its immense economic potential—estimated to exceed $800 billion in energy, oil and gas, minerals, and infrastructure opportunities—remains significantly untapped due to persistent challenges related to maritime insecurity and inadequate governance frameworks. These issues were the focal point of a high-level roundtable convened on the sidelines of the 80th Session of the United Nations General Assembly (UNGA 80), held in September 2025. The event, themed “Unlocking Energy, Oil & Gas, Minerals and Maritime Opportunities in the Gulf of Guinea: A Roadmap for Peace and Security,” was organized by The New Diplomat in collaboration with the Gulf of Guinea Commission (GGC), bringing together policymakers, industry leaders, and stakeholders to chart a path toward transforming regional goodwill into actionable, binding commitments.
The roundtable underscored the urgent need to address maritime security as a prerequisite for unlocking the GoG’s economic promise. Mr. Solomon Ewanehi, Founder and Group Managing Director/CEO of Solewant Group, a leading African industrial firm, delivered a compelling goodwill message that resonated with attendees. Ewanehi emphasized that while the region’s potential is undeniable, its realization hinges on overcoming systemic challenges such as piracy, oil theft, and weak enforcement mechanisms. His address not only highlighted the stakes but also provided a clear roadmap for regional leaders, private sector actors, and international partners to collaborate in creating a secure and prosperous GoG.
The Gulf of Guinea: A Region of Promise and Peril
The Gulf of Guinea stretches along the West African coast, encompassing countries such as Nigeria, Ghana, Angola, Cameroon, and Equatorial Guinea, among others. It is a region of immense strategic and economic significance, serving as a critical artery for global maritime trade and a major hub for oil and gas production. The GoG accounts for approximately 5% of global oil production, with Nigeria and Angola being among the top oil-producing nations in Africa. Additionally, the region is rich in minerals, fisheries, and other natural resources, making it a focal point for international investment.
However, the GoG has also gained notoriety as a hotspot for maritime insecurity. Piracy, armed robbery at sea, illegal fishing, and oil theft have plagued the region for decades, undermining investor confidence and stifling economic growth. According to the International Maritime Bureau (IMB), the GoG accounted for a significant portion of global piracy incidents in the early 2020s, with attacks often targeting oil tankers and cargo vessels. These incidents not only result in financial losses but also pose significant risks to human lives and regional stability.
The economic cost of maritime insecurity is staggering. A 2023 report by the United Nations Office on Drugs and Crime (UNODC) estimated that piracy and related crimes in the GoG result in annual losses of over $1.9 billion, affecting trade, shipping, and local economies. Moreover, the lack of robust governance frameworks has hindered the region’s ability to attract sustained foreign direct investment (FDI), particularly in capital-intensive sectors such as oil and gas, infrastructure, and renewable energy. For indigenous companies like Solewant Group, which have invested heavily in the region, the absence of a secure operating environment poses a significant barrier to scaling operations and competing on a global stage.
The Yaoundé Code of Conduct: A Foundation in Need of Reinforcement
In his address, Mr. Ewanehi acknowledged the existence of regional frameworks aimed at addressing maritime insecurity, most notably the Yaoundé Code of Conduct, adopted in 2013. The Yaoundé Code, a landmark agreement among GoG states, was designed to foster cooperation in combating piracy, illegal fishing, and other illicit activities in the region’s waters. The framework established a regional architecture for maritime security, including the creation of coordination centers such as the Interregional Coordination Centre (ICC) in Yaoundé, Cameroon, and the Regional Maritime Security Centre for West Africa (CRESMAO) in Abidjan, Côte d’Ivoire.
While the Yaoundé Code represents a significant step toward regional collaboration, Ewanehi pointed out that its effectiveness has been limited by several factors. First, the code is a non-binding agreement, lacking the legal authority to enforce compliance or ensure accountability among member states. Second, the operational capacity of regional coordination centers remains constrained by inadequate funding, limited logistics, and a lack of harmonized enforcement mechanisms. Finally, the absence of sustained political will among GoG states has hindered the implementation of the code’s provisions, leaving gaps in the region’s maritime security architecture.
Ewanehi argued that transforming the Yaoundé Code from a statement of intent into a binding, enforceable framework is critical to restoring investor confidence and unlocking the region’s economic potential. He called for a comprehensive review of the code, with a focus on strengthening its legal status, harmonizing enforcement protocols across member states, and enhancing operational capacity through increased funding and technological investment. Such measures, he noted, would create a predictable and secure environment for private sector investment, enabling companies to deploy capital with confidence.
Nigeria’s Proposal for a Combined Maritime Task Force
A key highlight of the roundtable was Nigeria’s renewed proposal to host a Combined Maritime Task Force (CMTF) in Lagos, a move seen as a bold step toward operationalizing regional security commitments. The CMTF aims to coordinate joint naval patrols, intelligence sharing, and rapid response operations to combat maritime threats in the GoG. Nigeria, as the region’s largest economy and a major oil producer, has a vested interest in ensuring the security of its coastal waters, which are critical to its economic lifeline.
Ewanehi welcomed Nigeria’s proposal, describing it as a “healthy reflection of commitment” to addressing maritime insecurity. However, he cautioned that the success of the CMTF would depend on sustained political will, adequate funding, and robust logistical support. He emphasized the need for regional and international partners to rally behind the initiative, providing resources such as patrol vessels, surveillance systems, and air/sea lift capabilities to ensure its effectiveness.
The establishment of the CMTF could serve as a game-changer for the GoG, creating a unified front against maritime threats and signaling to investors that the region is serious about safeguarding its economic assets. However, Ewanehi stressed that the task force must be complemented by broader efforts to strengthen governance, enhance local content policies, and align financing frameworks with the needs of the private sector. Without these supporting measures, the CMTF risks becoming another well-intentioned but under-resourced initiative.
The Role of Indigenous Industrial Players
As a leading indigenous industrial firm, Solewant Group serves as a powerful example of the potential for African companies to drive economic growth in the GoG. Founded over 25 years ago, Solewant has established itself as a key player in the oil and gas sector, with operations spanning pipe manufacturing, coating, and industrial services. The company’s flagship facility, reported to be Africa’s largest multi-layer pipe-coating plant, represents a significant investment in the region’s industrial capacity.
Ewanehi highlighted Solewant’s achievements as evidence that African firms are fully capable of meeting global standards when provided with the right enabling environment. The company’s success, he argued, demonstrates the importance of aligning security and financing frameworks to support indigenous players. By investing in local capacity, Solewant has not only created jobs and stimulated economic activity but also positioned itself as a competitive player in the global energy market.
However, Ewanehi noted that indigenous companies face significant challenges in scaling their operations due to persistent insecurity and limited access to affordable financing. Maritime threats such as piracy and oil theft increase operational costs, deter partnerships with international firms, and undermine the ability of local companies to compete. Moreover, the lack of clear local content policies and financing pathways often leaves indigenous firms at a disadvantage compared to their foreign counterparts.
To address these challenges, Ewanehi proposed a multi-pronged approach that integrates security enhancements with economic empowerment. He called for the formalization of local content policies that prioritize the participation of African companies in the oil and gas, maritime, and infrastructure sectors. Additionally, he urged regional governments to work with development finance institutions (DFIs) and multilateral organizations to create accessible financing mechanisms for indigenous firms. Such measures, he argued, would enable African companies to scale up their operations, contribute to regional economic growth, and compete effectively in global markets.
A Call to Action: From Goodwill to Binding Commitments
The core of Ewanehi’s message was a clarion call to translate the GoG’s goodwill into concrete, enforceable action. He outlined a series of practical recommendations to achieve this goal, emphasizing the need for a coordinated and multi-stakeholder approach. Key among his proposals was the urgent need to operationalize existing maritime cooperation frameworks, particularly the Yaoundé Code of Conduct. By formalizing the code and enhancing its enforcement mechanisms, GoG states can create a robust framework for addressing maritime threats and fostering investor confidence.
Ewanehi also advocated for increased support for the proposed CMTF and the African Standby Force (ASF), a continental initiative aimed at addressing security challenges across Africa. He called for the provision of logistics, funding, and coordinated air/sea lift capabilities to ensure the effectiveness of these forces. Such support, he noted, would enable the private sector to deploy capital with greater confidence, knowing that their investments are protected by a secure and predictable operating environment.
Furthermore, Ewanehi emphasized the importance of aligning security measures with economic development goals. He recommended the establishment of clear local content and financing pathways to ensure that the benefits of the GoG’s economic growth are shared equitably among its people. By prioritizing local participation in the oil and gas, maritime, and infrastructure sectors, governments can create jobs, build capacity, and foster sustainable development.
Collaboration as the Key to Success
In his concluding remarks, Ewanehi pledged Solewant Group’s commitment to collaborating with governments, DFIs, and multilateral institutions to convert security gains into sustainable economic opportunities. He underscored the importance of public-private partnerships in addressing the region’s challenges, noting that no single actor—whether government, private sector, or international organization—can achieve the desired outcomes in isolation.
Ewanehi’s vision for the GoG is one of shared prosperity, secure trade corridors, and a resilient African industrial future. He challenged participants to reimagine the region not as a place defined by its challenges but as a beacon of opportunity and progress. “Let the Gulf of Guinea be remembered not for what holds us back, but for what it propels us toward,” he declared, urging stakeholders to seize the moment and take decisive action.
The Broader Geopolitical Context
The roundtable’s discussions took place against the backdrop of a rapidly evolving global geopolitical landscape. The GoG’s strategic importance extends beyond its economic potential, as it serves as a critical link in global supply chains and energy markets. The region’s proximity to major shipping routes and its role as a key supplier of oil and gas make it a focal point for international powers, including the United States, China, and the European Union.
However, the GoG’s strategic significance also makes it a target for geopolitical competition and illicit activities. The rise of great power rivalry in Africa, coupled with the growing influence of non-state actors such as criminal syndicates and terrorist groups, has heightened the need for robust maritime security. The roundtable’s emphasis on regional cooperation and international partnerships reflects the recognition that addressing these challenges requires a collective effort.
Moreover, the GoG’s economic potential is closely tied to global trends in energy transition and sustainable development. As the world shifts toward renewable energy and low-carbon technologies, the region’s oil and gas sector must adapt to remain competitive. Investments in green infrastructure, such as offshore wind farms and sustainable fisheries, could further enhance the GoG’s economic prospects while aligning with global climate goals.
Challenges and Opportunities Ahead
While the roundtable provided a platform for constructive dialogue and bold proposals, significant challenges remain. The GoG’s maritime security issues are deeply intertwined with broader governance challenges, including corruption, weak institutions, and political instability in some member states. Addressing these underlying issues will require sustained political commitment and structural reforms, both at the national and regional levels.
At the same time, the GoG’s economic potential presents a unique opportunity to redefine the region’s trajectory. By prioritizing maritime security, strengthening governance frameworks, and fostering public-private partnerships, GoG states can unlock the region’s vast resources and position themselves as leaders in Africa’s industrial and economic renaissance.
Conclusion
The high-level roundtable at UNGA 80 marked a pivotal moment in the Gulf of Guinea’s journey toward peace, security, and prosperity. Mr. Solomon Ewanehi’s address served as a powerful reminder of the stakes involved and the urgent need for action. By linking maritime security to industrial investment, he articulated a vision for a GoG that is not defined by its challenges but by its potential to drive shared prosperity and global competitiveness.
The path forward will require bold leadership, sustained collaboration, and a commitment to translating goodwill into binding commitments. With the right frameworks and partnerships in place, the Gulf of Guinea can emerge as a beacon of opportunity, setting a new standard for regional cooperation and economic development in Africa.
