FROM REGULATORY SILOS TO COORDINATED OVERSIGHT: THE EVOLUTION OF NIGERIA’S VIRTUAL ASSETS REGULATORY FRAMEWORK AND THE 2026 PRESIDENTIAL EXECUTIVE ORDER
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After much waiting, Nigeria and Sao Tome on the 22nd of April 2003, flagged off the licensing round for nine oil blocks in the Joint Development Zone (JDZ). The JDZ is an area of overlapping maritime boundary claims between Nigeria and Sao Tome, which both countries have agreed to jointly develop. The area is estimated to hold crude reserves of about six billion barrels.
