Militants under the aegis of the Niger Delta Avengers have agreed to cease hostilities for one-month in the Niger Delta an official of the petroleum ministry has said.

The move comes after intense negotiations between the NNPC and officials of the Nigerian Petroleum Ministry using back channels with influential leaders from the region.

A ministry official who spoke on anonymity said that it was very difficult getting the Niger Delta Avengers to talk but after series of efforts, it is beginning to pay off.

Negotiations have been threatened by power struggle among competing Niger Delta militants such as Reformed Egbesu Boys, Egbesu Water Lions and Egbesu Mythier Fraternity, Niger Delta Avengers and the Movement for the Emancipation of the Niger-Delta, MEND, Attacks on Nigeria’s oil and gas infrastructure have crimped over 800,000 barrels per day of production according to figures from the NNPC.

This has resulted to over N60 billion loss of revenue to the federation account within the last three months.

Nigeria's leading finance and market intelligence news report. Also home to expert opinion and commentary on politics, sports, lifestyle, and more

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp