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What event led to the British administration on the island of Fernando Po in the 19th century?

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The British abolition of the slave trade in 1807 led to the need for Britain’s Royal Navy to find suitable bases from which they could effectively suppress the trade. Fernando Po Island (now Bioko Island), from which the mouths of the Niger River and the portion of western Africa known as the Slave Coast could be watched, proved to be a strategic location for such activity, and in 1827 the Spanish leased parts of island to the British. The Spanish were largely absent from the island, and administration of the island fell to the British.