Foreign relations of Nigeria bilateral relations Delimitation of international boundaries in the vicinity of Lake Chad, the lack of which led to border incidents in the past, has been completed and awaits ratification by Cameroon, Chad, Niger, and Nigeria; dispute with Cameroon over land and maritime boundaries around the Bakasi Peninsula is currently before the International Court of Justice; maritime boundary dispute with Equatorial Guinea because of disputed jurisdiction over oil-rich areas in the Gulf of Guinea. The Federation of Nigeria became independent from the United Kingdom in 1960 with Queen Elizabeth II as Queen of Nigeria. Nigeria became a Commonwealth republic in 1963,
Chad–Cameroon Petroleum Development and Pipeline Project no term limits. A climate of intense corruption has created an unequal distribution of wealth and poor conditions for domestic and international investments. The portion of the pipeline owned by Cameroon is managed by the Cameroon Oil Transportation Company (COTCO). This company is incorporated in Cameroon, and is a joint venture between the governments of Cameroon and Chad, and the Upstream Consortium, an independent monitoring institution. The World Bank's support was very important for the Consortium of oil companies, as they believed they needed the support of the Bank in order for the project to succeed. While the project's private