Osinbajo travels to oil region to continue peace talks

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ABUJA, MARCH 2, 2017 – Acting President Yemi Osinbajo travelled to the restive southeastern oil region on Thursday to continue peace talks, according to his Twitter account, as the government seeks a deal with militants that could revive crude production.

This third visit to Nigeria’s oil heartlands will take him to Akwa Ibom state, he said on Twitter. He had previously held discussions in Delta state and Bayelsa state.

Nigeria depends on oil exports for as much as 70 percent of government revenues. Militant attacks on production facilities last year slashed output by as much as one-third.

Production is now recovering, and the government this year aims to produce an average of 2.2 million barrels per day (bpd).

The head of Nigeria’s state oil company said on Tuesday the country is now at 2.1 million bpd. However, a Reuters survey found that Nigeria’s production was at 1.65 million bpd in February.

 

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