President Bola Tinubu of Nigeria and President Teodoro Obiang Nguema Mbasogo of Equatorial Guinea has signed a landmark agreement in Malabo, Equatorial Guinea, to advance the Gulf of Guinea Pipeline Project.
This strategic pact aims to bolster legislative and regulatory frameworks for the establishment, operation, and ownership of a natural gas pipeline traversing the Gulf of Guinea.
The Gulf of Guinea, a crucial maritime region stretching from Senegal to Angola, is renowned for its extensive coastline of approximately 6,000 km. It serves as a vital shipping corridor for oil, gas, and other goods destined for central and southern Africa.
The agreement between Nigeria and Equatorial Guinea signifies the importance of this region in global energy logistics.
During the signing ceremony, President Tinubu highlighted the potential benefits of the agreement, stating, "The signing of this agreement will open up new opportunities for gas exploration and employment." He emphasized that the collaboration would not only enhance gas exploration but also create massive job opportunities.
The agreement encompasses various critical aspects, including legislative and regulatory measures, the transit of natural gas, and the ownership structure of the pipeline. It also sets forth general principles to guide the project's implementation.
The Ministers of Foreign Affairs from both countries, Yusuf Tuggar of Nigeria and Simeon Oyono Esono of Equatorial Guinea, were present to endorse the agreement, along with other high-ranking officials such as Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi, and the Minister of Defence, Muhammad Badaru Abubakar.
In his remarks, President Tinubu noted that the discussions preceding the agreement covered a wide range of issues, including employment creation, food security, multilateral relations, and conflict resolution mechanisms within Africa.
He stressed the need for African nations to look inward to solve their problems, drawing parallels with how Europe and America have managed their conflicts. "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," he asserted.
President Mbasogo echoed these sentiments, emphasizing the longstanding and rewarding bilateral relations between Nigeria and Equatorial Guinea.
He underlined the importance of deepening cooperation across various sectors and reiterated Africa's pursuit of a permanent seat on the United Nations Security Council as vital for the continent's development.
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