Militants warn of oil production shut-down

Two affiliated militant groups operating in Nigeria’s Niger Delta have warned that they will seek to shut down oil production in coastal areas if the federal government proceeds with the prosecution of Chief Justice Walter Onnoghen.

The militants warned Buhari against postponing confirmation of Onnoghen’s appointment as chief law officer, arguing the delay was due to his hailing from the so-called South-South region of oil producing states.

Oil and gas stocks listed on the Nigerian Stock Exchange have been depreciating for some weeks despite oil prices recovering, a trend some have attributed to the emergence of two new militant organisations.

New militant groups which cannot participate in the amnesty programme and do not benefit from illegal oil bunkering could become more violent to force the Nigerian state to invite them to the table, according to local risk consultant SBM Intelligence.

Source: Upstream

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