There are indications that Nigeria's economy might take a further nose-dive if negotiations do not resume immediately.

In a move that could lead to resurgence of militancy in the south-south region, MEND has pulled out of the Pan Niger Delta Forum.

PANDEF, led by elder statesmen, Edwin Clark, is a coalition of elders and leaders of the Niger Delta region.

The group played a vital role in curbing pipeline vandalisation in the region under the government of President Muhammadu Buhari.

In a statement on Wednesday, Jomo Gbomo, spokesman of MEND, accused the group of playing politics and defrauding the government.

The comes two days after PANDEF gave the federal government a three-month ultimatum to implement the agreements reached in the peace deal.

Gbomo said PANDEF lacked the “moral justification” to demand from the present government what they couldn’t ask former President Goodluck Jonathan, who “wasted” six years.

“The Movement for the Emancipation of the Niger Delta (MEND) dissociates itself from the hypocritical press conference called on Monday, July 31, 2017 in Abuja by the Pan Niger Delta Forum (PANDEF),” the statement read.

“PANDEF, led by elder statesmen Chief Edwin Clark and His Royal Highness King Alfred Diette -Spiff, lack the moral justification in giving an ultimatum to the federal government and making demands they never made from Goodluck Jonathan when he was at the helm for six wasted years.

“Instead of listening to the so-called Niger Delta activists and the compromised Ijaw Youth Council (IYC) who have miraculously regained the voices they lost when Jonathan was president, and instead of issuing threats through fake internet-based militant groups, PANDEF ought to have used the forum and opportunity to commend the federal government for exposing the monumental looting of our commonwealth by some sons and daughters of the soil starting from the former president, his wife Patience, cousins, relatives and cronies and so many other traitors; down to the mind boggling theft by Dieziani Allison-Madueke, who empowered others while her people lived in squalor and abject poverty.

“PANDEF is also pretending not to notice that the Amnesty programme is still operating on the corrupt template that still pays ghost militants after it hoodwinked the government into believing in the fraud. A programme that has neglected the children of the dead freedom fighters and those in prison, for those that never made any sacrifice is cursed.

“In view of our irreconcilable differences, MEND hereby recalls its representatives in PANDEF for consultation with immediate effect.”