NIGERIA President Bola Tinubu has sealed an agreement to develop a gas pipeline across the Gulf of Guinea, as the country naturally stands in an advantageous position where it could exploit gas resources for its benefit.

The President’s spokesperson, Ajuri Ngelale, made this known in a statement on Thursday, August 15 said the new pact will open up more opportunities for gas exploration.

He said Tinubu signed the gas pipeline deal with his counterpart, President Teodoro Mbasogo of Equatorial Guinea.

According to Ajuri, the agreement covers several areas including legislative and regulatory measures for the gas pipeline.

“President Bola Tinubu and Equatorial Guinean President Teodoro Obiang Nguema Mbasogo on Wednesday evening in Malabo signed an agreement on the Gulf of Guinea Pipeline Project, further affirming partnership for mutual development.

“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,” Ajuri stated.

President Tinubu, who is on a three-day official visit to Equatorial Guinea, remarked that the signing of the agreement will open up new opportunities for gas exploration and employment.

The President hinted at discussing with his Equatorial Guinea counterpart issues related to the creation of employment, food security, multilateral relations, and conflict resolution mechanisms on the continent.

“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 the promotion of peace and stability in our countries, and growth and prosperity on our continent,”  Tinubu said.

On his part, the President of Equatorial Guinea was quoted as saying that the signing of the agreement was strategic for Africa’s development.

The global calls for a transition to cleaner energy fuels have continued to grow, The ICIR can report.

In a related development, Nigeria is in an advanced stage of creating a pipeline that will pass through thirteen African countries to Europe.

The Final Investment Decision (FID) on the $25 billion project, Nigeria-Morocco Gas Pipeline (NMGP), will be taken in December 2024, according to the Nigerian National Petroleum Company Limited (NNPC) Limited.

While Nigeria boasts of a staggering 209.5 trillion cubic feet of gas reserves that puts the country at the global top of gas producers and solidified its position as Africa’s natural gas linchpin, however, for years, the country has failed to leverage its vast natural gas reserves