Mr Mbasogo said said the signing of the agreement was strategic for Africa's development.
President Bola Tinubu and the President of Equatorial Guinea Teodoro Obiang Nguema Mbasogo signed an agreement on the Gulf of Guinea pipeline project.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, in a statement on Thursday said the agreement signed on Wednesday evening in Malabo further affirms partnership for mutual development.
The agreement, according to the statement, covered legislative and regulatory measures for the gas pipeline, establishment and operation, transit of natural gas, ownership of the gas pipeline, and general principles.
In his remarks at the event, Mr 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 relating 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 conflict 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, industrialisation 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," Mr Tinubu was quoted in the statement as saying.
Mr Tinubu said the discussion with the President of Equatorial Guinea also covered challenges of security, African Continental Free Trade Area (ACFTA), and food security.
"We are all going for it. Within Africa and the African Union, we have resolved that we will work together to make sure that the solution to many of our problems in Africa comes from within."
In his remarks, Mr Mbasogo said bilateral relations with Nigeria over many years have been rewarding and emphasized the need to deepen cooperation across salient areas.
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He explained that 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.
Mr Mbasogo said the signing of the agreement was strategic for Africa's development.
The Minister of Foreign Affairs, Yusuf Tuggar of Nigeria, and Simeon Oyono Esono, Minister of Foreign Affairs of Equatorial Guinea, also signed the agreement.
"The Minister of Justice and Attorney General of the Federation, Chief Lateef Fagbemi, SAN; Minister of Defence, Muhammad Badaru Abubakar; Minister of Interior, Olubunmi Tunji-Ojo; Minister of State, Petroleum, Gas, Ekperikpe Ekpo, and Minister of Youth Development, Jamila Ibrahim- Biu were present at the signing of the agreement," the statement said.
