Nigeria’s oil regulator has announced new export regulations requiring producers to obtain an export permit, vessel clearance, and a unique identification number to enable real-time tracking of crude oil cargoes, according to documents seen by Reuters.
The move is part of a broader government strategy to curb oil theft, under-declaration, and revenue leakage at export terminals, which have long plagued Africa’s largest oil producer.
“The new guidelines represent a significant step toward a more transparent, accountable, and efficient oil export regime in Nigeria,” said a spokesperson for the regulator.
Previously, oil producers were only required to notify customs to receive an export permit, a system experts say was vulnerable to manipulation. Under the new Nigerian Upstream Petroleum Advance Cargo Declaration Regulation, exporters must now file advance cargo details including consignee, port of destination, tonnage, and estimated time of arrival.
Energy lawyer Ayodele Oni noted the changes were necessary to address systemic issues of “under-reporting, theft, revenue loss, and data mismatches” in the oil sector.
The regulator warned that non-compliance could attract penalties of up to $20,000, underscoring the administration’s drive to tighten oversight and improve fiscal accountability in the petroleum industry.
