President Bola Tinubu and Equatorial Guinean President, Teodoro Obiang Nguema Mbasogo, has 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.
Speaking at the event, President Tinubu, who is on 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 stated that the two leaders had discussed issues related 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 conflicts and what we can do to promote peace.
"We talked about 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 both inadequate capital, industrialization efforts, research and development programmes, and enlighten our people, navigate our way through 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.
President Tinubu also said the discussion with the President of Equatorial Guinea also covered challenges of security, African Continental Free Trade Area (AfCFTA), and food security.
In his remarks, the President of Equatorial Guinea, while noting that bilateral relations with Nigeria over many years had been rewarding, 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.
He said the signing of the agreement was strategic for Africa's development.
