President Tinubu and Equatorial Guinean President Seal Oil, Gas Deal

President Tinubu and Equatorial Guinean President have sealed oil and gas deals.

Newsone Nigeria reports that Nigeria’s President, Bola Tinubu, and Equatorial Guinean President Teodoro Obiang Nguema Mbasogo signed an agreement on the Gulf of Guinea Pipeline Project on Wednesday evening in Malabo, further affirming their partnership for mutual development.

This online news platform understands that the agreement signed by President Tinubu and Equatorial Guinean President covers legislative and regulatory measures for the gas pipeline, its establishment and operation, the transit of natural gas, ownership of the pipeline, and general principles.

President Tinubu, who is on a three-day official visit to Equatorial Guinea, said in his remarks at the event, that the signing of the agreement would open up new opportunities for gas exploration and employment.

The President stated that the two leaders had discussed issues related to employment creation, food security, multilateral relations, and conflict resolution mechanisms on the continent during a private meeting that preceded the signing.

“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.

In his remarks, President Mbasogo emphasized that the bilateral relations with Nigeria have been rewarding over the years and highlighted the need to deepen cooperation across key areas.

President Mbasogo also affirmed the importance of Africa having a permanent seat on the United Nations Security Council for the continent’s development and confirmed that Equatorial Guinea will work with Nigeria to achieve this goal.

The signing of the agreement was described as strategic for Africa’s development.

The agreement was also signed by Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and Equatorial Guinea’s Minister of Foreign Affairs, Mr. Simeon Oyono Esono.

Other notable attendees at the signing included Nigeria’s 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.