Nigeria, Equatorial Guinea commit to expanding economic cooperation

Nigeria and Equatorial Guinea have indicated the desire to deepen economic cooperation to advance their common interests.

President Bola Tinubu and President Obiang Mbasogo of Equatorial Guinea disclosed this on Friday in a statement jointly signed by Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar and his counterpart from that country, Simeon Angue.

The statement is the outcome of the State Visit by Tinubu to Equatorial Guinea from August 14 to 16, upon invitation by Mbasogo.

The statement indicated that Mr Tinubu led a high-level delegation from Nigeria as part of efforts to strengthen the robust and friendly relations existing between the two countries at both bilateral and multilateral levels.

“The two heads of state used the opportunity to explore areas of cooperation and partnership, and other spheres related to economic growth, security, and stability in Africa. They expressed their firm will to promote stronger ties, to boost economic development, and diversification for common interests and mutual benefits.

“The heads of state applauded the signing of the bilateral agreement on the construction and operation of the Gulf of Guinea Pipeline, which will facilitate trade in natural gas between them and global markets. This agreement will facilitate the development of gas resources, accelerate industrialisation, and enhance energy security. Both delegations committed to holding the Sixth Joint Cooperation Commission as soon as possible, to facilitate the signing of additional bilateral agreements, while monitoring the implementation of Agreements already signed,” the statement maintained.

The statement further indicated that Mr Tinubu and Mr Mbasogo promised to support measures by the Economic Community of West African States under the chairmanship of the Nigerian leader to unite and reposition the sub-regional bloc.

The two heads of states, according to NAN, expressed concern over the insecurity, instability, and emerging crises across Africa and reassured stakeholders on the continent of their commitment to strengthening mechanisms that will restrict foreign interference in its affairs.

“They reaffirmed the need to promote African-led solutions to African problems and committed to limiting foreign interference on the continent. The heads of state unreservedly condemned terrorism and piracy and resolved to work together more closely to tackle the threats. To this end, they agreed to explore various initiatives tabled by Gulf of Guinea Commission member states aimed at improving coordination and enhancing maritime security. They further reaffirmed their commitment to the Malabo Declaration on Terrorism and Unconstitutional Changes of Government in Africa, and the Abuja Process for Consolidating Regional Counter-Terrorism Approaches,” the ministers said in the statement.

The statement quoted both heads of state as saying that they were willing to support initiatives that would lead to the prevention and peaceful resolution of disputes.

“Both delegations committed to redoubling efforts to support the UN 2030 Agenda and the African Union’s Agenda 2063, as well as reiterated calls for an African Permanent Seat in the UN Security Council,” the ministers added in their joint statement.