DN! Nigeria Considers Deal to Share Oil Revenue with Niger Delta

by: StartLoving2     Published on: 19 October 2009

Views: 229

0    0   

Description :

Report: Nigeria Considers Deal to Share Oil Revenue with Niger DeltaThe Financial Times reports the Nigerian government is proposing to share ten percent of its oil and gas revenue with the residents of the oil-producing Niger Delta in an attempt to end a revolt by local militants. The Niger Delta generates 80 percent of the Nigerian governments revenue, but the region remains one of the countrys poorest areas. The plan is aimed at reducing the level of violence and oil theft in the Niger Delta. Attacks on oil facilities have cut oil production in Nigeria by as much as 40 percent in recent years. The report of the oil revenue sharing deal comes as the Nigerian government is planning to establish a permanent military presence in the Niger Delta.