Nigeria and Equitorial Guinea has formalized their efforts for more peaceful trades, as the countries' presidents met last Tuesday in Malabo, capital of Equitorial Guinea, and signed a joint agreement on Maritime security patrols.
The joint agreement called "Nigeria-Equatorial Guinea Joint Commission," has sealed the coordinated plans of the two countries in securing the waters in the Gulf of Guinea in the Atlantic Ocean The agreement approves of the establisment of a combined Maritime Policing and Security Patrol Committee.
The Premium Times reported that this will not only enhance the security of trading ships passing through the Gulf of Guinea, it will also alleviate maritime crimes such as piracy, crude oil theft, sabotage of oil rigs, militant unrest, and arms smuggling.
The Gulf of Guinea, being in the middle of the two countries' boundaries, is the main trading route of Nigeria. Nigeria is Africa's biggest oil producer and pumps almost all of its crude from the gulf and the neighboring Niger River delta. Shipments could experience o a two-year low amid rising pipeline shutdowns because of the ever-increasing sabotages, as reported by Bloomberg.
The President of Nigeria, Muhammadu Buhari, and President of Equitorial Guinea, Obiang Nguema Mbasogo, led concluding talks, both had expressed satisfaction with the atmosphere of trust and solidarity that existed between their countries. All Africa reported that the agreement opened further discussions on issues regarding sub-regional, regional and international including terrorism, violent extremism and the state of the global economy, especially as it affected Nigeria and Equatorial Guinea.
Aside from that, the presidents mentioned the crises in some African countries and efforts by the African Union to achieve peace, stability and progress across the continent.
