Conflict in the Niger Delta Jonathan’s defeat in the March 2015 elections, the amnesty program seems likely to end in December 2015 and with patronage to former militant leaders terminated, local discontent is deepening. A February 2016 explosion in a pipeline operated by Shell Petroleum Development Corporation, a Royal Dutch Shell subsidiary to the Shell Forcados export terminal halted both production and imports. Speculation centered on militants using divers. Emmanuel Ibe Kachikwu, the minister of state for petroleum and the head of Nigeria’s oil company, said Nigerian production was down 300,000 barrels a day as a result. On May 11 Shell closed its Bonny oil
Commodity currency Commodity currency A commodity currency is a name given to some currencies that co-move with the world prices of primary commodity products, due to these countries' heavy dependency on the export of certain raw materials for income. Commodity currencies are most popular in developing countries (eg. Burundi, Tanzania, Papua New Guinea). However developed countries like Canada and Australia can also have this type of currency. For example, the Canadian Dollar grows stronger, the higher the price of soybeans and oil because these are Canada's two major commodities. In the foreign exchange market, commodity currencies generally refer to the Australian dollar,