After a nine-day standoff, Benin has announced a partial lifting of the blockade on Niger’s crude oil exports passing through its territory. This move comes amid a diplomatic tussle between the two neighbors.
The blockade, imposed on May 6, aimed to pressure Niger to reopen its land borders, which have been closed since last year. Benin's action underscored its determination to reopen formal economic exchanges, including oil transit, through its territory.
The decision to partially lift the blockade followed mediation led by Chinese officials who arrived in Cotonou on Wednesday morning. The Chinese delegation, headed by the Ambassador to Benin, engaged with the Beninese President and sector officials.
They agreed that Benin would allow Chinese vessels to load the first available volumes of Niger’s crude. However, the Beninese Energy Minister stressed that this authorization will not be a guideline for the operation of the Benin-Niger pipeline. He assured that Benin had no intention to harm Niger's interests or those of their common partner, China.
The Benin minister said this thawing opens the door to talks between both parties but mentioned no date. The discussions aim to address urgent issues related to the proper conduct of operations.
For Niger, the resumption of crude shipments ensures timely repayment of its $400 million loan from China, secured against oil revenues. The loan carries a 7% interest rate and a one-year repayment period.
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...
Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...
Royal Air Maroc signed a deal with DAE to lease 13 Boeing 737-8 aircraft. Deliveries are schedule...
CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...
Buenassa has submitted a $1.5bn bid to acquire Chemaf as part of a $3.5bn industrial plan The roadmap includes completion of Chemaf’s...
Government plans CFA-equivalent investment of 41.8 billion Congolese francs over 2026–2028 Funds target farm equipment purchases and rehabilitation of...
Two aging gas turbines commissioned in 1977 are being replaced at Port-Gentil Installed capacity is expected to rise to 40–50 MW from 25–30...
Togo plans to mobilize CFA35 billion ($63 million) in 2026 to finance decentralization and deconcentration reforms. The allocation represents...
More than 100 Senegalese artists publicly urged President Bassirou Diomaye Faye to impose sanctions on Israel over the Gaza conflict. The artists...
Fela Kuti received a posthumous Lifetime Achievement Award from the Recording Academy He is the first African artist recognized by the Grammys...