Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 01 FEBRUARY 2024

Implication Of Nigeria's Extended Exclusive Economic Zone

Olisa Agbakoba Legal (OAL)
Explore more from Olisa Agbakoba Legal (OAL)

Recently, the news that Nigeria has approval from the United Nations (UN) to have an extended Exclusive Economic Zone (EEZ)...

NigeriaTransport
Cornelius Okey Gabriel
Cornelius Okey Gabriel

Recently, the news that Nigeria has approval from the United Nations (UN) to have an extended Exclusive Economic Zone (EEZ) broke in the media space. Various media in Nigeria reported that the extension allows Nigeria to redraw the territorial map of its sovereignty in the Gulf of Guinea, thereby granting the right to exploit the abundant carbon and marine resources in the area.

The extension of Nigeria's Exclusive Economic Zone (EEZ) has significant implications for maritime activities, resource management, and geopolitical dynamics in the region. It expands Nigeria's jurisdiction over a larger maritime area, allowing for increased control and potential benefits. This extension may lead to enhanced opportunities for oil and gas exploration, fisheries management, and overall economic development. However, it could also trigger geopolitical tensions with neighbouring countries over overlapping claims, emphasizing the need for diplomatic negotiations and cooperation

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Transforming Nigeria's Ports Economy-An Analysis Of The Nigerian Ports Economic Regulatory Agency Act 2026 (September 2026)

Nigeria's maritime sector undergoes a major regulatory transformation with the Nigerian Ports Economic Regulatory Agency Act, 2026, which establishes a comprehensive framework for economic regulation of ports, introduces stricter tariff controls, enhanced enforcement powers, and transitions the Nigerian Shippers' Council into a dedicated economic regulator with expanded authority over port operations, terminal operators, and shipping services.
NigeriaTransport
G ELIAS
G ELIAS
Article

The CVFF Six Months After Launch: Assessing Its Impact On Vessel Financing In Nigeria

The Cabotage Vessel Financing Fund (CVFF) was launched in January 2026 to address financing gaps for indigenous Nigerian shipowners. Six months later, despite receiving 92 applications, no disbursements have been made due to bureaucratic bottlenecks, extensive risk assessments by primary lending institutions, and complex documentation requirements across multiple regulatory agencies.
NigeriaTransport
G ELIAS
G ELIAS
Article

Third Party Motor Insurance In Nigeria: Analysing Its Evolution, Legal Framework, Compliance, And Effectiveness Under The Nigerian Insurance Industry Reform Act 2025 Vis-a-vis The United Kingdom Insurance Regime

Road transportation remains the predominant means of movement for individuals and goods in Nigeria, and one feature that has remained constant in Nigeria's transportation landscape is the steady increase in the number of motor vehicles using public roads. In densely populated commercial centres such as Lagos, thousands of private motorists, commercial transport operators, heavy-duty vehicles, motorcycles, tricycles and pedestrians interact daily within an increasingly congested road network. The inevitable consequence is the frequent occurrence of road traffic accidents resulting in death, bodily injury and substantial property damage.
NigeriaTransport
SPA Ajibade & Co
SPA Ajibade & Co
Article

What Happens If You Breach Nigeria’s Cabotage Act? Fines, Detention, And The New Drilling Rig Ruling

For nearly two decades, drilling operators in Nigeria have been fighting the same argument in different courtrooms: is an offshore drilling rig a “vessel” under the Cabotage Act, or not? Noble Drilling first raised the question at the Federal High Court back in 2008 and won, only for the Court of Appeal to reverse the decision on a technicality, leaving the real question unsettled for the industry ever since.
NigeriaTransport
Olisa Agbakoba Legal (OAL)
Olisa Agbakoba Legal (OAL)
Article

CVFF Is Finally Disbursing After 23 Years: What It Is And Who Qualifies

After more than two decades of dormancy, Nigeria has finally begun disbursing the Cabotage Vessel Financing Fund (CVFF), a revolving loan facility funded by a 2% levy on cabotage-protected trade earnings since 2003. With up to $25 million available per qualifying applicant at 6.5% interest through twelve appointed Primary Lending Institutions, Nigerian shipowners now face the critical question of who qualifies and what it takes to access this long-awaited vessel acquisition finance.
NigeriaTransport
Olisa Agbakoba Legal (OAL)
Olisa Agbakoba Legal (OAL)