BMI Research has stated in its latest report that failure by the Federal Government to resolve the current simmering tensions in the Niger Delta may dramatically trigger increases in the chance of a return to vandalism aimed at oil and gas infrastructure, which could undermine Nigeria’s efforts to return its output to previous levels, Independent reports.
According to the report, Nigeria may witness on-going weak economic growth over the coming quarter due to the latest threat by the inﬂuential Niger Delta to the Federal Government to pull out of peace talks. It noted that some elders, under the aegis of Pan-Niger Delta Forum (PANDEF) had handed the Federal Government an ultimatum, calling for their 16-point demands to be met by November 1, 2017. It said the inﬂuence of the elders was vital in bringing the militant groups to the negotiating table.
It however went on to say that frustrations are also building up between the militant groups and the elders, with the former losing patience with the lack of progress, just as a militant group; the Niger Delta Revolutionary Crusaders, threatened to resume attacks on oil facilities on September 31. It said that the implications, in the short run, would result to poor performance in the nation’s oil export drive and add a further headwind to growth.