The Atyap, Fulani and Hausa communities in Kaduna have agreed to live in peace following recurring violence that has led to the loss of lives and properties. The communities in Zangon-Kataf LGA entered a peace deal Saturday and afterwards a three-month curfew put in place by the government to check the crisis was lifted. The peace agreement comes after many efforts to reconcile the warring ethnic groups failed. Representatives of the communities, at the reconciliation summit, agreed to forgive one another and assist security agencies with information that could lead to the arrest of trouble makers. The meeting, which was summoned by Dominic Yahaya, Agwatyap of Atyap, held at Yakubu Event Centre in Ungwan Wakil. The Atyap Community Development Association had in June this year called on the Bandiraku Fulbe Youths Association, under the leadership of Abbas J. Julde and Haruna Bello Laduga to join the peace effort in the area.
The United States has cut down its importation of Nigerian crude oil by 11.67 million barrels to 9.37 million barrels in the first five months of 2020, data from the US Energy Information Administration has shown. This is compared to the same period of last year when the US imported 21.03 million barrels of the product. The data also said that the highest monthly volume of Nigerian crude purchased by the North American country so far this year was 2.12 million barrels, compared to 11.78 million barrels in 2019. Its purchases plunged by 63.03 per cent in Q1’20 to 5.53 million barrels, compared to the last quarter of 2019 when it bought 15.07 million barrels from Nigeria. The breakdown of the figures showed that the US bought 1.92 million barrels in January; 1.93 million barrels in February; 1.68 million barrels in March; 1.70 million barrels in April, and 2.12 million barrels in May. Following the coronavirus-induced crash in oil prices and demand, the West African country has been struggling to sell its crude oil cargoes as US significantly reduced imports of Nigerian crude oil in the past few years since the oil produced in its shale operations is similar to the light sweet Nigerian crude. Prior to the lockdowns and collapse in crude oil demand caused by the coronavirus crisis, the rise of US shale oil was already proving a different challenge for Nigeria. Booming production from shale drastically cut Nigerian exports to the US – once the destination for about 40 per cent to 50 per cent of the country’s cargoes. On the back of the shale oil boom, US imports of Nigerian crude fell from 148.48 million barrels in 2012 to 87.40 million barrels in 2013. In 2014, when global oil prices started to fall from a peak of $115 per barrel, Nigeria saw a further drop in US imports of its crude to 21.24 million barrels. The EIA report said that the US, the first time in decades, did not purchase any barrel of Nigerian crude in July, August 2014 and in June 2015 while in 2010, the US bought as much as 358.92 million barrels from Nigeria, but slashed its imports to 280.08 million barrels in 2011. The country, in 2019, produced about 19.25 million barrels per day of petroleum, and it consumed about 20.46 million bpd. The agency said imports from other countries helped to supply domestic demand for petroleum.
The Department of State Services said two of its men died on Sunday when a patrol team was attacked by the members of the outlawed Indigenous People of Biafra in the Emene area of Enugu. The service did not provide details of the attack but said a comprehensive investigation had commenced into the incident. The DSS Public Relations Officer, Peter Afunanya, said in a statement that the secret police “lost two personnel in what was clearly an unprovoked violent attack launched by IPOB on the team.” The service “condoled with the families of the departed officers and also prayed for the repose of their souls.” It said all measures had been put in place to ensure that their killers and everyone involved in the dastardly act were promptly apprehended and brought to justice.
The decline in crude oil prices during the first quarter of this year has pushed down Nigeria’s total export earnings by 14.9 percent to $13.39 billion in April, the CBN said in its monthly economic report for the month. This is compared with $15.22 billion and $15.74 billion recorded in Q1 and Q4 2019 respectively. The CBN said the export of crude oil fell by 20 percent and 14 percent to $9.48 billion, from $11.84 billion and $11.02 billion in Q4 2019 and Q1 2019 respectively. This development was attributed to the fall in the average price of Nigeria’s reference crude, Bonny Light, to $52.48 per barrel in Q1 2020, from $65.87 and $64.90 per barrel in Q1 2019 and Q4 2019 respectively. The fall in the price of crude oil was attributed to the lockdown measures to curb the spread of the COVID-19 pandemic which dampened global demand and disrupted supply chains. On the other hand, the monetary regulator said that the country’s non-oil export increased marginally by 0.9 percent to $2.16 billion, from $2.14 billion in Q4 2019; lower than the $2.36 billion mark set in Q1 2019. The share of crude oil and gas export was 70.8 percent and 13.1 percent respectively, while non-oil export accounted for the balance of 16.1 percent. Cashew nuts, cocoa beans, sesame seeds, among others with the Netherlands, Cote d’Ivoire, Brazil, and the USA as the major destinations were the main drivers of non-oil exports. Aggregate nonoil export receipts through banks declined in April 2020 to $0.05 billion, on the back of the same lockdown measure to contain COVID-19. The receipts recorded is compared with $0.24 billion and $1.83 billion in March 2020 and the corresponding period of 2019 respectively. The development was attributed largely to the 70.8 percent decrease in receipts from the industrial sector, which stood at $30.07 million in April 2020. The receipts from agricultural, manufactured products and minerals sectors also declined by 87.9 percent, 79.7 percent, and 18 percent to $11.02 million, $7.71 million, and $1.29 million respectively, from their levels in the preceding month. Import of petroleum products was said to have increased by 24.6 percent and 34.3 percent to $2.78 billion from $2.23 billion and $2.07 billion in 2019 Q4 and 2019 Q1 respectively.