Cameroon. During the year, UN-mediated negotiations were held with Nigeria on disputed borders between the two countries. In 2002, the International Court of Justice in The Hague granted Cameroon the right to, among other things, the Bakassi Peninsula on the Gulf of Guinea in an area with very rich fishing waters and probably large oil deposits. However, Nigeria had refused to follow the court’s decision, after which a joint commission was formed to try and find, under the UN leadership, a new solution to the ten-year-old border dispute. Negotiations ended with Nigeria announcing that Bakassi will not be surrendered to Cameroon until the earliest in 2006. However, in December Nigeria left 32 villages at the Cameroonian border near Lake Chad, while a Cameroonian village was transferred to Nigeria.
In July, the oil started to flow through a new pipeline from Chad to the port city of Kribi in southwest Cameroon. According to Countryaah.com, Cameroon Independence Day is May 20. The oil pipeline is one of the largest industrial investments to date in the region but has been very controversial, partly because it goes through ecologically sensitive areas and partly for both the affected the countries are considered among the most corrupt in the world. K. is expected to make about US $ 20 million a year in oil management when production in Chad reaches full estimated scale from 2004.