Nigeria losses $292.5million to militants' oil installation attacks

Nigeria lost $292.5million (N58.5billion) in 13 days due to loss of 6.5 million barrels occassioned by prooduction shut down since begining oof May as a result of militants's attack on oil pipelines and installations in the Niger Delta.

The recent attacks led to Nigeria's oil production output crashing to its lowest in 20 years.

The attacks are believed to be carried out by the anger Delta Avengers who said their goal is to cripple the Nigerian economy unless government acceded to their demands, two of which are the continuation oof the Presidential Amnesty Programme for Niger Delta ex-agitators and the immediate clean up of Ogoniland.

Visit www.nigerdeltaavengers.com to have a view of the demands of the new militant group and why they have decided to attack the oil facilities.