Regulatory approval in Nigeria’s upstream oil and gas sector is no longer a procedural formality. This paper examines how post-2024 petroleum regulations have transformed regulatory consent into a major source of transaction risk, reshaping deal structuring, valuation, due diligence, and execution in upstream M&A.

What looked like a routine merger announcement quickly revealed itself to be one of the most consequential entertainment deals of the century. This analysis unpacks the legal architecture behind the proposed Netflix and Warner Bros. merger, from antitrust risks and shareholder protections to streaming consolidation and the future of global media.