The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it has received presidential approval to remove all entry barriers to the licensing round including reducing the entry fee to the barest minimum.
The West African nation of Benin has blocked China’s first shipment of crude oil from Niger amid an ongoing border dispute with Niger following a coup that has put a military junta in power and shaken relations with other African nations.
Since 2020, there have been military coups in Burkina Faso, Mali, and Niger.
Potential spillover of conflicts to the coastal West African countries could endanger some oil projects and deter foreign investment.
The EU and US have promised support to Western African governments to counter the spillover of insecurity from the Sahel.