AIRLINK 191.54 Decreased By ▼ -21.28 (-10%)
BOP 10.23 Decreased By ▼ -0.02 (-0.2%)
CNERGY 6.69 Decreased By ▼ -0.31 (-4.43%)
FCCL 33.02 Decreased By ▼ -0.45 (-1.34%)
FFL 16.60 Decreased By ▼ -1.04 (-5.9%)
FLYNG 22.45 Increased By ▲ 0.63 (2.89%)
HUBC 126.60 Decreased By ▼ -2.51 (-1.94%)
HUMNL 13.83 Decreased By ▼ -0.03 (-0.22%)
KEL 4.79 Decreased By ▼ -0.07 (-1.44%)
KOSM 6.35 Decreased By ▼ -0.58 (-8.37%)
MLCF 42.10 Decreased By ▼ -1.53 (-3.51%)
OGDC 213.01 Increased By ▲ 0.06 (0.03%)
PACE 7.05 Decreased By ▼ -0.17 (-2.35%)
PAEL 40.30 Decreased By ▼ -0.87 (-2.11%)
PIAHCLA 16.85 Increased By ▲ 0.02 (0.12%)
PIBTL 8.25 Decreased By ▼ -0.38 (-4.4%)
POWER 8.85 Increased By ▲ 0.04 (0.45%)
PPL 182.89 Decreased By ▼ -0.14 (-0.08%)
PRL 38.10 Decreased By ▼ -1.53 (-3.86%)
PTC 23.90 Decreased By ▼ -0.83 (-3.36%)
SEARL 93.50 Decreased By ▼ -4.51 (-4.6%)
SILK 1.00 Decreased By ▼ -0.01 (-0.99%)
SSGC 39.85 Decreased By ▼ -1.88 (-4.51%)
SYM 18.44 Decreased By ▼ -0.42 (-2.23%)
TELE 8.66 Decreased By ▼ -0.34 (-3.78%)
TPLP 12.05 Decreased By ▼ -0.35 (-2.82%)
TRG 64.50 Decreased By ▼ -1.18 (-1.8%)
WAVESAPP 10.50 Decreased By ▼ -0.48 (-4.37%)
WTL 1.78 Decreased By ▼ -0.01 (-0.56%)
YOUW 3.96 Decreased By ▼ -0.07 (-1.74%)
BR100 11,697 Decreased By -168.8 (-1.42%)
BR30 35,252 Decreased By -445.3 (-1.25%)
KSE100 112,638 Decreased By -1510.2 (-1.32%)
KSE30 35,458 Decreased By -494 (-1.37%)

Nigeria has almost tripled the budget for an amnesty programme for militants in its oil-producing heartland, the presidency said on Saturday, a key factor in maintaining a tenuous peace in the Niger Delta and supporting crude production. An additional 30 billion naira ($98.47 million) would be released for the former militants and an extra 5 billion naira added at some later stage, the presidency said in a statement. Until 2016 the annual budget was 20 billion naira.
Funding of former militants under the 2009 amnesty is key to maintaining the relative stability in the Delta and stopping attacks on oil facilities, as it was last year by militants who cut crude output by as much as a third. Under the amnesty programme, each former militant is entitled to 65,000 naira a month plus job training. But in March a special adviser to Nigeria's president said the programme was facing a cash crunch.
"Currently the Amnesty Office has now paid up all ex-militants backlog of their stipends up to the end of 2016," the presidency said in a statement. Authorities had previously cut the budget for cash payments to militants to end corruption. They later resumed payments to keep pipeline attacks from crippling vital oil revenues. Last month, former militant leaders in the Niger Delta urged the government to pay out delayed amnesty stipends or face protests.
The government has been holding talks with militants to end the attacks that cut Nigeria's output by 700,000 barrels a day (bpd) for several months last year, reducing total production at that time to about 1.2 million bpd. It has since rebounded. The presidency also said all promises made by Vice President Yemi Osinbajo on recent visits of the Niger Delta to boost development would be kept.

Comments

Comments are closed.