Nigeria / by Alistair Galloway

The militant group the Niger Delta Avengers resumed their attacks on oil infrastructure in the Niger Delta. Despite the deployment of 3000 government troops, the waterways of the Delta are essentially un-policed, allowing militants to act with impunity in an area essential to the country’s economy and position as Africa’s second largest oil exporter. The militants are demanding that their region actually see the benefit of oil revenues. The First Lady announced she would not support her husband if he were to run for re-election, citing his lack of leadership. Twenty-one of the 200 Chibok school girls abducted in 2014 were released on 13 October. It is likely that significant social stigma will prevent them from returning to their original homes. The security situation in Nigeria is poor. Despite government gains against Boko Haram in the recent year, its insurgency remains powerful in the north eastern province of Borno, and it proved it retains its operational capacity by carrying out a suicide bombing on 12 October and a double suicide bombing on 29 October. Following a Boko Haram attack on a military base, 83 soldiers are missing in action, although it is not guaranteed they have been captured by Boko Haram. Oversupply in the oil market has kept prices low and Nigeria has struggled with low capacity due to infrastructure being damaged by militants earlier in the year, both having a significant negative impact on oil revenues. Nigeria cut the prices of 20 of 26 grades of oil by at least $1 in attempt to regain market share. The central bank has been spending foreign reserves heavily to prop up the naira, which has been weakening due to the lack of oil revenues.

Source: https%3A%2F%2Ffrontier-horizons.squarespac...