⁍ Nigeria plans to bar vessels without a valid licence to operate in Nigerian waters.

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⁍ It has given shipping companies that trade in its coastal and inland waters three months to register.

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⁍ Most of the vessels that use Nigerian waters are owned by foreign companies.

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– Nigeria’s maritime regulator says it will bar foreign oil ships that don’t have a valid license to operate in its waters from doing so for three months, Reuters reports. Most of the ships are owned by foreign companies, but they mostly transport crude oil for international oil companies. The regulator says the new regime will also apply to vessels whose licenses have already expired. The government is pushing to boost revenue and increase it foreign exchange earnings after the new coronavirus pandemic triggered a collapse in the price of oil, Nigeria’s main export. Levies— import duties and shipping charges including taxes—are big revenue earners for Nigeria, which relies on international trade, especially oil exports. Denmark shipping and oil group A.P. Moller-Maersk MAERSKb.CO and French shipping group Bourbon GPBN.PA are among international shipping companies active in Nigeria.