President Bola Tinubu of Nigeria and his Equatorial Guinean counterpart, Teodoro Mbasogo, solidified their nations’ partnership for development on Wednesday by signing a crucial agreement on the Gulf of Guinea Pipeline Project.
The landmark deal, inked in the Equatorial Guinean capital, outlines a comprehensive framework for the pipeline’s legislative, regulatory, operational, and ownership structures. The agreement also details provisions for natural gas transit.
In a statement released on Thursday, President Tinubu’s spokesman, Ajuri Ngelale, emphasised the significance of the project, highlighting its potential to unlock new opportunities in gas exploration and job creation.
During a private meeting preceding the signing ceremony, the two leaders engaged in extensive discussions on a range of issues, including employment generation, food security, and strategies for fostering peace and stability across the African continent.
President Tinubu expressed optimism about the agreement, stating, “This is a pivotal step towards unlocking the immense potential of our region’s gas resources. It will create jobs, stimulate economic growth, and strengthen our bilateral ties.”
He further emphasised the importance of intra-African collaboration in addressing shared challenges, such as conflict resolution and economic development. “Africa must learn from the mistakes of others and find homegrown solutions to our problems,” President Tinubu asserted.
The Gulf of Guinea Pipeline Project is poised to be a game-changer for both Nigeria and Equatorial Guinea, with far-reaching implications for the entire region.