Equatorial Guinea History of Politics, and Supremacy, "untold History. Corruption, poverty, and repression continue to plague Equatorial Guinea under President Teodoro Obiang Nguema Mbasogo, who has been in power since 1979. Vast oil revenues fund lavish lifestyles for the small elite surrounding the president, while a large proportion of the population continues to live in poverty. Mismanagement of public funds and credible allegations of high-level corruption persist, as do other serious abuses, including torture, arbitrary detention, secret detention, and unfair trials. Throughout the year, President Obiang made sizable donations to international organizations, hired public relations firms, traveled widely to visit leaders in other countries, and hosted international events in order to improve his image. His efforts bore some results: the United Nations secretary-general and other dignitaries made official visits during the African Union Summit held in June, and an association of Portuguese-speaking countries in July accepted Equatorial Guinea's bid for membership, which the country had pursued for a decade