The Nigerian Government has finally agreed a ceasefire deal with the Niger Delta Militants according to a report from Reuters.
The ceasefire is expected to last for one month according to a source whom Reuters referred to as “a petroleum ministry official said on Tuesday.”
The deal includes the Niger Delta Avengers, a group which has claimed responsibility for a string of attacks, said the official, who asking not to be identified.
“It was very difficult getting the Niger Delta Avengers to the negotiating table but we eventually did through a proxy channel and achieved the truce,” the official said.
This confirmed officially that Nigeria is and will probably continue to what many people refer to as terrorist. But a lot of people won’t mind provided it brings peace to the Niger Delta and stops all the pipeline vandalism and bombings that have so far cut Nigeria’s crude oil exports by more than half.
This will also be good news for the markets, capital and forex, as it could mean more crude earnings for Nigeria and by extension an increase in our forex reserves.