The Nigerian government is continuing with efforts to end militancy in the Niger Delta region as quickly as possible and revive the country's flagging oil output, which has sunk to near 30-year lows following a spate of attacks on production facilities, a government statement said Wednesday.
"We are making definite progress on how many factions of the militant groups exist, their leadership and operational basis, and we have equally sought the co-operation of the oil majors," a statement by presidential spokesman Femi Adesina quoted President Muhammadu Buhari as saying on the sidelines of the UN General Assembly in New York.
"In a short while, I believe the issues would be resolved," Buhari said in the statement.
Nigeria's oil output has now hit 1.75 million b/d, independent newspaper Vanguard reported Wednesday, citing minister of state for oil Emmanuel Kachikwu, on the back of ongoing talks between the government and militant groups.
Nigerian oil output has fallen sharply this year as renewed militancy in the oil-rich region resurfaced after some years of relative calm, slashing production to around 1.5 million-1.6 million b/d from 2.2 million b/d earlier in the year, leaving the government struggling to implement its 2016 budget.
Nigerian parliament on Tuesday urged the executive arm of government to immediately commence dialogue with Niger Delta militants to prevent further bombings of oil facilities that have pushed the economy into recession.
Nigeria, Africa's largest oil producer until a few months ago, slipped into recession after its economy shrink by 2.06% in the second quarter, following a 0.36% contraction in the first quarter, as the impact of the militant attacks on oil facilities weighed, the National Bureau of Statistics said last month.
The Niger Delta Avengers, the group responsible for most oil facility attacks, announced a ceasefire August 20 to allow for dialogue between Niger Delta leaders and the government.
The Nigerian government is hoping it can sustain the current peace in the region to allow the country's oil output grow to 1.8 million b/d by the end of October, Kachikwu told reporters in Abuja, Vanguard reported.
Analysts told S&P Global Platts last month that unless the government forges a peace deal with the militants, the oil industry could sink into deeper crisis in the months ahead with further disruption to oil output and exports.
