Nigeria, Equatorial Guinea sign $2.5bn pipeline deal on stranded gas

Nigeria and Equatorial Guinea have signed a $2.5 billion agreement to construct a 200-kilometer gas pipeline, aimed at boosting gas exports and enhancing economic ties between the two countries. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, highlighted the project’s potential to increase Nigeria’s gas production while supplying Equatorial Guinea’s underutilized LNG and methanol plants. Negotiations will continue following the signing to finalize details of the pipeline, which is designed to transport stranded Nigerian gas.

In addition to the gas pipeline deal, Nigeria and Equatorial Guinea are also discussing enhanced defense cooperation. Minister of Defence, Badaru Mohammed, revealed that both nations are in talks to strengthen joint patrols in the Gulf of Guinea to combat oil theft and other illegal activities. A joint committee is being formed to oversee patrols, policing, and security along their shared borders and in the maritime region.

The proposed joint security efforts aim to address the ongoing issue of oil theft, which poses significant challenges to both countries. Mohammed expressed optimism that the collaboration will lead to more effective prevention of illegal activities in the Gulf of Guinea.

Furthermore, Minister of Youth, Jamila Bio-Ibrahim, announced that Nigeria and Equatorial Guinea are finalizing an agreement focused on youth development and collaboration. The treaty, expected to be finalized later this year, will emphasize peer learning, skills development, and the possibility of Equatorial Guinea adopting Nigeria’s National Youth Service Corps (NYSC) initiative. The agreement will also explore opportunities for Nigerian youth to produce commodities for Equatorial Guinea, leveraging Nigeria’s larger population to support sectors like furniture production, agro-forestry, and fashion.

Bio-Ibrahim highlighted President Bola Tinubu’s commitment to collaborating with African leaders to harness the continent’s youth demographic for transformational economic development. She noted that the youth-focused agreement aligns with broader efforts to strengthen the economic ties and developmental collaboration between African nations.

Minister of Interior, Olubunmi Tunji-Ojo, emphasized the significance of the trip to Equatorial Guinea for Nigeria’s international relations and economic development. He mentioned that alongside the landmark gas agreement, discussions also focused on visa policies and trade, with the goal of enhancing travel and economic interactions among African nations. Efforts are underway to facilitate easier movement between countries, with an agreement expected by November. On the security front, he noted that while the gas agreement has been signed, further defense agreements are still under review to ensure they align with Nigeria’s interests before being finalized.