Currently, these nations operate as separate markets, which prevents the region from reaching its full economic strength.
Expert Suleiman Yahyah, Chairman of Rosehill Group Limited Advisory Limited, explains that the region needs to move away from isolated national projects and instead build one single, connected system to unlock this massive wealth.
Moving from potential to a real market
The region is currently at a turning point where it is moving from simply having “potential” to becoming a functioning market for energy.
Yahyah noted that major investments in oil refining have quickly changed the situation.
During a recent conference, he stated, “Once upon a time, a few months ago, this market was full of potential. But a couple of months have changed the dynamics”.
To continue this progress, he believes countries must stop competing with each other and start trading as a unified group where rules and licenses are recognized across all borders.
Using regional systems to fix energy problems
Despite its natural resources, West Africa still faces a serious lack of power, with about 45% of the population living in energy poverty.
Yahyah argues that trying to fix this by building one project at a time would take far too many years.
Instead, he suggests that a regional system allowing money, products, and information to move freely would fix these imbalances much faster.
Punch reported that he pointed out that “if we think in systems, perhaps we can accelerate the correction of today’s imbalances” so that more people can finally access affordable and clean power.
Sharing specialized roles to build success
The most valuable parts of the global energy market are often the technology and knowledge used to manage it, rather than just the raw oil and gas.
Yahyah explained that many successful institutions do not own the physical resources, noting that “what they own is knowledge; they own methodologies, they own technology”.
To keep this value within West Africa, he proposed that different countries take on specialized roles based on their strengths.
For example, Senegal could serve as a gateway, Ghana as a storage center, and Lagos as the main hub for finance and refining.
By working together as an integrated marketplace, the region can attract global investment while keeping more of its wealth at home.