President of Equatorial Guinea, Obiang Nguema Mbasogo on Friday said that his country has decided to give oil blocks to Nigerians who are willing to acquire them. This came on when President Jonathan

bagged the highest award in Equatorial Guinea, the Grand Collar of the Order of Independence (GCOI) on Friday.

 

Mbasogo who announced this at a joint press conference with President Goodluck Jonathan in Malabo at the end of the Nigerian president's two-day official visit to that country noted that he was making the offer because of his country's partnership with Nigeria, which Equitorial Guinea intends to rely on by tapping the vast experience of Nigerians in the oil business to develop his country's oil and gas sector.

He said, "It is true that Nigeria has been in oil and gas business for the past 40 to 50 years, whereas Equatorial just started recently. That is why we place our trust and confidence in our Nigerian brothers to assist us in developing the sector.

"In the past, we have allocated oil concession to members of this sector from Nigeria but for one reason or the other, this did not actually yield the fruits expected. But nevertheless, we are still willing to offer oil concessionary blocks to those business people from Nigeria, who will be willing to try again.

"You know there is a great deal of luck issue in oil prospecting in the oil industry. It is not easy, it involves a lot but we still have a great deal of confidence that the experience of Nigeria can always be beneficial to the people of Equatorial Guinea in the growth of our oil and gas sector," he said.

President Jonathan lauded Mbasogo over what he described as the level of cordial relations between Nigeria and Equatorial Guinea, which have been maintained from pre-colonial and colonial times. Gotten from-http://www.ipaidabribenaija.com/business/more-in-business/economy/item/19529