Published On: Thu, Dec 15th, 2016

Bank urges concessions with Niger Delta militants

FBN 1LAGOS, (CAJ News) -FIRST Bank of Nigeria, the country’s biggest bank, has advised the government to reach a compromise with saboteurs and address
the under-performance of the oil industry.
The bank’s advice comes a day after President Muhammadu Buhari submitted the 2017 budget to a sitting of both houses of the National Assembly.
The oil industry was as usual a prominent feature with Buhari assuming oil production level of 2,2 million barrels per day.
However, analysts are concerned the ongoing sabotage in the Niger Delta was impacting on production.
The militancy has continued despite reports of dialogue between government and militants.
FBN called for a compromise.
“The government may pursue an ‘engagement with the oil producing communities’ but will surely have to compromise with the various parties
responsible for the sabotage.”
The sabotage has been blamed on militant groups such as the Niger Delta Avengers.
They have in recent months carried out attacks on oil facilities in protest of the alleged marginalization of the region by government despite
the area producing most of the oil.
CAJ News

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