Nigerian Leadership Crisis Impacting Global Energy Markets

The illness of Nigerian Pres. Umaru Musa Yar

The delicacy of the Nigerian domestic political situation is such that any further instability in Nigeria could disrupt oil and gas production in the Niger Delta, at a time when Nigerian oil already represents more than 15 percent of US oil imports, and its oil and gas production is increasingly significant for Europe and the People’s Republic of China. Moreover, removing a Vice-President who comes from the Niger Delta could strongly exacerbate the situation, given the historical resentment within the Niger Delta over the Federal Government of Nigeria’s disregard of the Delta region while at the same time earning most of the national exchequer from the Delta’s oil and gas.

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