Nigeria and Equatorial Guinea have signed a pivotal agreement on the Gulf of Guinea Gas Pipeline Project in a move aimed at boosting regional development and energy cooperation. The deal was formalized by Nigerian President Bola Tinubu and Equatorial Guinean President Teodoro Mbasogo during a ceremony in Malabo.
President Tinubu, who is on a three-day official visit to Equatorial Guinea, highlighted the significance of the agreement, noting that it promises to unlock substantial opportunities for gas exploration and job creation.
In his address, Tinubu emphasized that the pipeline project will enhance employment prospects and contribute to economic growth in both nations.
The agreement comes after a series of discussions between the two leaders, which addressed a range of issues including employment creation, food security, multilateral relations, and mechanisms for conflict resolution on the African continent.
Tinubu also noted that the talks extended to critical topics such as security challenges, the African Continental Free Trade Area (AfCFTA), and strategies to ensure food security.
President Mbasogo, reflecting on the long-standing bilateral relations between Nigeria and Equatorial Guinea, expressed his satisfaction with the agreement.
He underscored the importance of deepening cooperation in key areas to further strengthen the partnership between the two nations.
The Gulf of Guinea Gas Pipeline Project is expected to enhance energy infrastructure in the region and foster greater economic integration.
This agreement represents a significant step in the collaborative efforts to harness the potential of the Gulf of Guinea’s vast natural resources and stimulate regional development.