24-05-04 The United Nations Development Program (UNDP) has signed a $ 100,000 aid accord with Sao Tome and Principe to help its legislature prepare to assume a watchdog role over the archipelago's future oil revenues.
According to a report, the accord, signed in Sao Tome, will help finance the preparation of oversight legislation and the equipping of the parliament for a supervisory role over government oil accounts.

The UNDP initiative comes three weeks after the auction of the first offshore oil exploration block in waters jointly shared by Sao Tome and Nigeria.