President Bola Tinubu and Equatorial Guinean President Teodoro Obiang Nguema Mbasogo have signed an agreement on the Gulf of Guinea Pipeline Project.
The agreement covered legislative and regulatory measures for the gas pipeline, establishment and operation, transit of natural gas, ownership of the gas pipeline and general principles.
In his remarks at the event on Wednesday, August 14, 2024, President Tinubu, during a three-day official visit to Equatorial Guinea, said the signing of the agreement will open up new opportunities for gas exploration and employment.
The President noted that the two leaders had discussed issues relating to the creation of employment, food security, multilateral relations, and conflict resolution mechanisms on the continent during a private meeting that preceded the signing of the agreement.
“Concerning Africa, conflicts and conflict resolution were discussed. We discussed various areas of conflict and what we can do to promote peace.
We talked about the promotion of peace and stability in our countries and growth and prosperity on our continent. In the same way that Europe and America have kept themselves and found a solution for their conflicts, we have to look at inadequate capital, industrialization efforts, research and development programmes, enlighten our people, and navigate our way through the problems. Instead of the crisis and conflicts that we see in the Republic of Congo, and others, we have to look inwards to solve problems ourselves,’’ the President said.
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President Tinubu said the discussion with the President of Equatorial Guinea also covered challenges of security, the African Continental Free Trade Area (ACFTA), and food security.
“We are all going for it. Within Africa and the African Union, we have resolved that we will work together to make sure that the solution to many of our problems in Africa comes from within,’’ the President added.
In his remarks, the President of Equatorial Guinea said bilateral relations with Nigeria over many years have been rewarding and emphasized the need to deepen cooperation across salient areas.
President Mbasogo said Africa’s vision of having a permanent seat in the Security Council of the United Nations is vital for the development of the continent, affirming that Equatorial Guinea will work with Nigeria to realize the objective.
The President of Equatorial Guinea said the signing of the agreement was strategic for Africa’s development.
The Minister of Foreign Affairs, Ambassador Yusuf Tuggar of Nigeria, and Mr. Simeon Oyono Esono, Minister of Foreign Affairs of Equatorial Guinea, also signed the agreement.
The 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, Petroleum, Gas, Ekperikpe Ekpo, and Minister of Youth Development, Dr. Jamila Ibrahim- Biu were present at the signing of the agreement.
