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Oil output slumps as Nigeria, Libya, Venezuela drag OPEC+ targets

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Nigeria, Libya and Venezuela recorded drops in crude oil production in October, undermining the output levels set by the Organisation of the Petroleum Exporting Countries and its allies, OPEC+, for the month.

According to a Reuters report on Tuesday, OPEC’s overall output rose by just 30,000 barrels per day in October, a sharp contrast to the 330,000 bpd increase recorded in September, despite earlier agreements to boost supply.

Data from OPEC’s Monthly Oil Market Report for October, obtained by Channels Television, showed that Nigeria’s crude production, which fluctuated between 1.3 million and 1.4 million barrels per day from January to June 2025, rose briefly to 1.5 million bpd in July before sliding back to 1.4 million bpd in August and 1.3 million bpd in September.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, attributed the production decline to the “crisis between the Dangote Refinery and the Nigeria Union of Petroleum and Natural Gas Workers as well as the Petroleum and Natural Gas Senior Staff Association of Nigeria.”

Oil prices slipped on Wednesday amid global market weakness and a stronger US dollar as investors reassessed supply dynamics.

Brent crude futures fell by 6 cents (0.1%) to $64.38 per barrel by 5:08 a.m. WAT, hitting a near two-week low. U.S. West Texas Intermediate also declined by 10 cents (0.17%) to $60.46, while the OPEC Basket shed 0.26 cents (0.39%) to $66.72 per barrel.

“The risk-off tone across markets saw investors exit energy markets,” ANZ analysts wrote in a client note quoted by Reuters.

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“Crude oil is trading lower … as risk sentiment shifted sharply negative, boosting the safe haven U.S. dollar, both of which weighed on the crude oil price,” IG market analyst Tony Sycamore stated.

Further pressure came after the American Petroleum Institute reported a rise in U.S. crude inventories for the week ending October 31.

On the supply front, OPEC+ announced plans to raise production by 137,000 bpd in December but said it would pause further increases during the first quarter of 2026.

However, analysts at LSEG cautioned that the pause was “unlikely to offer meaningful support to November and December prices.”

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Mob sets US-based doctor’s SUV ablaze over false kidnapping in Oyo

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The Oyo State Police Command has rescued a United States-based medical doctor from mob action following a false kidnapping alarm in Ibadan, the state capital.

The command disclosed this in a statement released on Wednesday by the state police public relations officer, DSP Ayanlade Olayinka.

According to the police, the incident occurred on Monday at about 2:30 p.m. around the 2nd Powerline Area, Ologuneru, along the Eleyele-Ido Road in Ibadan.

The statement said officers responded to a distress call alleging that a suspected kidnapper was about to be lynched and set ablaze by an angry mob.

“Upon receipt of the information, a combined team of Patrol and Detective Officers led by the Divisional Crime Officer Eleyele Police Station (DCO) immediately mobilized to the scene where the suspect was successfully rescued from the enraged crowd.

“However, before the arrival of the Police, his Lexus RX 330 SUV had already been set ablaze by the mob, while two young girls identified as Deborah, aged 15 years, and Rebecca, aged 12 years, found inside the vehicle, were equally taken into protective custody alongside the suspect for proper investigation,” the statement read.

Preliminary findings, according to the PPRO, revealed that the victim, identified simply as Dr. Afolabi, is a medical doctor practising in the United States and not a kidnapper as alleged in viral social media reports.

“Further findings established that the two girls found inside the vehicle were legally taken from one Mrs. Idowu Abimbola, aged 56 years, of Eleyele Area, Ibadan, with the intention of delivering them to the victim’s mother for the purpose of assisting with household chores.

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“In the course of investigation, Mrs. Idowu Abimbola was invited to the station where she confirmed the arrangement, while the two girls equally corroborated the account and related freely with the said woman, thereby dispelling the suspicion of abduction,” the statement added.

Olayinka explained that the misunderstanding began when Dr. Afolabi attempted to gain access through the Polytechnic gate and was stopped by a security guard for routine vehicle inspection.

“Upon lowering the vehicle’s window glass, the two girls were allegedly seen half-naked, a situation which immediately aroused suspicion among bystanders and security personnel.

“It was gathered that the victim’s inability to provide satisfactory answers to questions asked at the scene, coupled with his decision to turn away from the checkpoint, further heightened suspicion.

“The situation was compounded by the inability of the two girls to speak the local language or properly express themselves in English, thereby fueling the false alarm of kidnapping.

“The development consequently led to a mob chase and eventual interception of the victim by irate youths who reportedly ignored all explanations offered by him and descended heavily on him, inflicting severe bodily injuries before the timely intervention of the Police.

“The victim was immediately rushed to the Police Medical Services for urgent medical attention and is currently responding to treatment,” the statement said.

Scene of the incident. Credit: Oyo State Police Command

The police said statements had been obtained from eyewitnesses, including an okada rider allegedly hit during the confusion, while efforts were ongoing to identify and arrest those involved in the mob action and destruction of property.

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The Commissioner of Police in the state, CP Abimbola Olugbenga, condemned the mob action and the spread of false information capable of creating tension and undermining security in the state.

He warned against jungle justice, self-help, and the circulation of unverified reports on social media, saying such actions threaten public peace and order.

The commissioner also directed a full investigation into the incident and ordered the arrest of all those involved in the attack for prosecution in accordance with the law.

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Mahama approves evacuation of 300 Ghanaians from South Africa over Xenophobic attacks

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Ghana’s President, John Mahama, has granted approval for the immediate evacuation of 300 Ghanaian nationals from South Africa, following renewed xenophobic attacks in the country.

The Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, disclosed this in a statement issued on Tuesday via his X handle.

According to him, the affected citizens had earlier complied with the Foreign Ministry’s advisory and registered with the Ghana High Commission in Pretoria for evacuation assistance.

He wrote, “His Excellency John Mahama has granted presidential approval for the immediate evacuation of 300 Ghanaians in South Africa.

“These distressed Ghanaians had earlier complied with the Foreign Ministry’s advisory and registered with our High Commission in Pretoria to be rescued following the latest wave of xenophobic attacks.”

Ablakwa added that the government remains committed to protecting its citizens both at home and abroad.

The evacuation comes as reports emerge of harassment and attacks on foreign-owned businesses, particularly in areas such as KwaZulu-Natal and Durban.

Other African nations have taken similar steps.

In response, Nigeria’s government, through Foreign Minister Bianca Odumegwu-Ojukwu, announced a voluntary repatriation program for its citizens.

Over 130 Nigerians have already registered with Nigerian missions in South Africa for assistance to return home, with the number expected to rise.

President Bola Tinubu has directed the establishment of crisis notification centres to support distressed nationals.

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FG deploys mining marshals for intelligence gathering, compliance monitoring

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The Federal Government has deployed Mining Marshals for intelligence gathering, compliance monitoring and operational oversight in the solid minerals sector.

This was disclosed in a statement issued on Tuesday by the Commander of Mining Marshals Operations and Assistant Commandant of Corps, Attah Onoja.

Onoja stated that the deployment is part of efforts to strengthen enforcement against illegal mining activities.

“The Mining Marshals are now participating in investigations, intelligence gathering, compliance monitoring and fact-finding missions conducted by the Federal Ministry of Solid Minerals Development.

“As part of the initiative, the Mining Marshals recently joined ministry officials on operational visits to mining sites in Nasarawa and Plateau states.

“The operations were carried out under the leadership of the Minister of Solid Minerals Development, Dele Alake,” the statement read.

The statement said that the operations were aimed at strengthening monitoring, regulatory compliance and operational oversight within the sector.

It read, “The team was led on different occasions by the Permanent Secretary of the ministry, Engr. Faruk Yusuf Yabo, who represented the minister during the field engagements.

“During one of the operational and fact-finding missions, the Commander of the Mining Marshals, ACC Attah John Onoja, accompanied ministry officials to a mining site allegedly being illegally exploited.

“The visit was part of efforts to verify allegations of unlawful mining activities, assess compliance with extant mining regulations and obtain field-based information necessary for administrative, regulatory and possible enforcement actions.”

“The delegation also included senior ministry officials such as Engr. Frank Odoom, Director of Special Duties; Engr. Imam A. Ganiyu, Director of Mines Inspectorate; Andrew Zubiri, Director of Legal Services; and Ibrahim Abdulmajeed J., representing the Director General of the Mining Cadastre Office.”

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According to the statement, the engagements created an important feedback mechanism between government authorities and mining communities.

It added that the engagements enabled concerns relating to illegal mining, environmental practices, security challenges and regulatory compliance to be communicated directly to authorities.

It further stated that the Mining Marshals have continued to support the ministry’s operations through “intelligence support, operational collaboration and inter-agency coordination across mining communities nationwide.”

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