Nigeria/Sao Tome and Principe: Obasanjo, Menezes sign pact to publish joint oil accounts

Nigeria, Africa's leading oil producer, and its newly oil-rich neighbour Sao Tome and Principe, on Sunday signed a joint declaration regarding transparency and governance in the Joint Development Zone shared by the two countries. The President of Nigeria, Olusegun Obasanjo, and visiting President of Sao Tome and Principe, Fradique De Menezes, agreed at a meeting in the Nigerian capital, Abuja, to full public disclosure of all transactions in respect of oil companies’ activities in the zone, which spans the two countries' waters in the Gulf of Guinea.