Home Business Niger Resumes Oil Exports to Benin After Months-Long Dispute
BusinessNews

Niger Resumes Oil Exports to Benin After Months-Long Dispute

1.5k

Niger has resumed crude oil exports to Benin following a resolution of the dispute that had halted the flow of oil through a Chinese-funded pipeline. The pipeline, which stretches nearly 2,000 kilometres from Niger’s Agadem oilfield to the Benin coast, had been blocked since June due to political tensions between the two nations.

The conflict began when Niger refused to lift its ban on imported goods from Benin, leading to Benin’s decision to halt oil exports through the pipeline. Despite the Economic Community of West African States (ECOWAS) lifting sanctions on Niger earlier this year, Niger maintained its border closure, further straining relations.

Negotiations eventually led to a breakthrough, although it is not yet clear what the recent agreement is. Talks between Niger’s military junta leader Abdourahamane Tchiani and two former Beninese presidents, Thomas Boni Yayi and Nicephore Soglo, facilitated the deal that allowed exports to resume.

Niger’s oil exports are part of a $400 million deal with China National Petroleum Corp (CNPC). The agreement allows Niger to repay a loan from China through oil shipments over 12 months. The pipeline in question is operated by the West African Gas Pipeline Company (WAPCO) and has a capacity of 90,000 barrels per day.

Read More:

About The Author

Related Articles

NewsSportsWorld

FIFA Says Nigeria’s World Cup Return Hinges on Stability, Not Talent

FIFA has sent a clear message to Nigeria ahead of the 2030...

NewsPolitics

Oyo Assembly Approves Makinde’s Request to Transfer Power to Deputy Governor for Annual Leave

The Oyo State House of Assembly has approved Governor Seyi Makinde’s request...

NewsSportsWorld

Over 23 Million Fans Sign Petition Calling for Argentina to Be Banned From World Cup

An online petition calling for Argentina’s national team to be permanently barred...

FinanceNews

Cardoso Blames Digital Payments, Inflation for Scarcity of N100 and N200 Notes as Nigerians Fear N5000 Note Is Coming

Central Bank of Nigeria Governor Olayemi Cardoso has attributed the growing scarcity...