Public Management

Benin Temporarily Reopens Port to Niger Oil

Benin Temporarily Reopens Port to Niger Oil
Thursday, 16 May 2024 11:34

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.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Both banks posted near-identical pre-tax profits in 2025, yet a 12-point tax rate gap cost GTCO $89 million more than its rival Zenith...
Proparco commits $17.25 million to Alterra Africa Accelerator Fund Fund targets established African companies with expansion...
MobileMoney Fintech CEO says company may list within 3–5 years Listing would allow users to invest in the company via mobile channels Ghana’s stock...
Government begins third 100-day performance review on April 20, 2026 GDP growth projected to rise from 9.2% to 10.2% Industry, services and...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
04

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
05

MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions...

MTN Ghana tightens controls on mobile money agents over fraud concerns
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.