In a significant move for regional development, Nigerian President, Bola Ahmed Tinubu and Equatorial Guinean President, Teodoro Obiang Nguema Mbasogo signed a landmark agreement on the Gulf of Guinea Pipeline Project on Wednesday evening, August 14, 2024 in Malabo, confirming their partnership for mutual development. The agreement is expected to pave the way for enhanced gas exploration and employment opportunities across both nations.
The signed agreement encompasses crucial areas such as legislative and regulatory frameworks for the gas pipeline, its establishment, operation, natural gas transit, and ownership. The accord also sets out general principles to guide the project’s execution, marking a deepening of the bilateral relationship between the two countries.
President Tinubu, who is on a three-day official visit to Equatorial Guinea, highlighted that the agreement would unlock new economic prospects for both countries, particularly in the energy sector. He underscored the importance of collaboration in addressing Africa’s pressing challenges, including employment creation, food security, and conflict resolution.
The two leaders also deliberated on the African Continental Free Trade Area (AfCFTA) and security challenges facing the continent.
“Concerning Africa, conflicts and conflict resolution were discussed. We talked about various areas of conflict and what we can do to promote peace.
“We discussed the promotion of peace and stability in our countries and the growth and prosperity of our continent.
“Just as Europe and America have addressed their conflicts and found solutions, we must also address our issues related to capital inadequacies, industrialization efforts, research and development programs, and the enlightenment of our people.
“Instead of the crises and conflicts we see in the Republic of Congo and elsewhere, we must look inward to solve our problems ourselves,” the president said.
President Tinubu also mentioned that discussions with President Mbasogo covered security challenges, the African Continental Free Trade Area (AfCFTA), and food security.
“We are all committed to this. Within Africa and the African Union, we have resolved to work together to ensure that the solutions to many of our problems come from within,” the President concluded.
President Mbasogo emphasized the longstanding and productive relations between Equatorial Guinea and Nigeria, expressing a commitment to deepen cooperation in critical areas.
He also reiterated Africa’s need for a permanent seat on the United Nations Security Council as vital for the continent’s development.
The signing of this agreement is seen as a strategic step towards bolstering Africa’s development agenda, particularly in the energy sector, and is expected to strengthen the economic ties between the two countries.
In attendance at the ceremony were several high-ranking officials from both nations, including Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar; Minister of Justice and Attorney General of the Federation, Chief Lateef Fagbemi, SAN; Minister of Defence, Muhammad Badaru Abubakar; Minister of Interior, Dr. Olubunmi Tunji-Ojo; Minister of State for Petroleum, Gas, Ekperikpe Ekpo; and Minister of Youth Development, Dr. Jamila Ibrahim-Biu.
Their presence highlighted the importance of the agreement to both nations.
