Nigeria–São Tomé and Príncipe Joint Development Authority
- Nigeria–São Tomé and Príncipe Joint Development Authority
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The Nigeria – São Tomé and Príncipe Joint Development Authority is an organization established by treaty that regulates the two countries' Joint Development Zone in the Bight of Bonny. The Joint Development Zone is along the maritime Nigeria – São Tomé and Príncipe border.
The Joint Development Zone is an area in the region of the Nigeria – São Tomé and Príncipe boundary region that is speculated to be rich in oil and gas reserves. Because neither country could have explored the resources in the zone without interfering with the maritime territory of the other country, the countries agreed in a treaty to create a joint development authority that would assist both countries in benefitting from the economic potential of the zone.
The Joint Development Authority has its head office located in Abuja, Nigeria. It was created by the Treaty between the Federal Republic of Nigeria and the Democratic Republic of São Tomé and Príncipe on the Joint Development of Petroleum and other Resources, in respect of Areas of the Exclusive Economic Zone of the Two States. The treaty was signed in Abuja on 21 February 2001.
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