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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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One killed, three injured in Lagos road crash

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One person has died while three others sustained serious injuries in a road crash involving a Lexus Jeep 350 along the Coastal Road inward Eko Hotel, Lagos.

The crash occurred earlier on Friday, according to a statement signed by the Director, Public Affairs and Enlightenment Department of the Lagos State Traffic Management Authority, Adebayo Taofiq.

The statement said the grey Lexus Jeep, with registration number LSD 554 KV, reportedly lost control, collided violently with a roadside pole and overturned.

“Preliminary security information indicated that the vehicle reportedly lost control, violently collided with a roadside pole and subsequently overturned, resulting in three seriously injured victims and one fatality,” the statement said.

LASTMA operatives monitoring traffic around the Coastal Road axis swiftly mobilised to the scene, secured the affected section and facilitated emergency response.

“The three critically injured victims were extricated from the crash scene with the assistance of Good Samaritans and promptly conveyed to Duck-Yard Hospital within the Military Zone for urgent medical attention,” the statement said.

Security personnel from Victoria Island also provided reinforcement, while LASTMA officers removed the mangled vehicle from the carriageway to prevent a secondary collision and restore vehicular movement along the axis.

The General Manager of LASTMA, Olalekan Bakare-Oki, condoled with the family of the deceased and urged motorists to exercise caution while driving.

He warned that “excessive speed, reckless driving and loss of vehicular control could have devastating and irreversible consequences for motorists and other road users.”

Bakare-Oki also urged motorists and members of the public to report road crashes, vehicle breakdowns, obstructions and other emergencies through the LASTMA toll-free short code, 3367, for prompt intervention.

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Source: punchng.com

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UK gets new attorney, solicitor general

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The United Kingdom has sworn in Ellie Reeves KC MP as Attorney General and Andy Slaughter MP as Solicitor General at a ceremony held at the Royal Courts of Justice.

The two senior Law Officers were sworn into their roles on Thursday, October 1, 2026, following their appointments in July, according to a statement published by the UK Attorney General’s Office on Thursday.

The Rt Hon Alex Norris MP was also sworn in as Lord Chancellor and Secretary of State for Justice.

The report was also published on the UK Home Office website.

Reeves, who was appointed Attorney General on July 20, said tackling violence against women and girls remained her “top priority”.

“It is an honour to be sworn in as Attorney General for England and Wales and Advocate General for Northern Ireland. My career both as a lawyer and now in government has shown me just how important it is that the legal profession is open to everyone, whatever their background, and this is a cause I will champion throughout my time in this role.

“Building on the work I was proud to lead as Solicitor General, tackling violence against women and girls remains my top priority.

“I look forward to working alongside Andy Slaughter MP on our shared mission to uphold the rule of law and strengthen confidence in our criminal justice system.”

Attorney General Ellie Reeves KC MP (right) with Lady Chief Justice, The Right Honourable the Baroness Carr of Walton-on-the-Hill (left) | Home Office

Slaughter, who was appointed Solicitor General on July 21, said he looked forward to working with Reeves to address challenges facing the justice system.

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“It is a privilege to be sworn in as Solicitor General, an important role in our constitution, bridging law and government to ensure good governance.

“As Chair of the Justice Select Committee, I saw first-hand the pressures facing our justice system. I now look forward to working with the Attorney General to tackle these challenges directly, and to ensure our justice system commands the public’s confidence.”

The ceremony was attended by the Lady Chief Justice, the Right Honourable the Baroness Carr of Walton-on-the-Hill.

The Attorney General is the UK Government’s chief legal adviser and attends Cabinet. The Law Officers—the Attorney General and Solicitor General—also superintend the Law Officers’ Departments, including the Crown Prosecution Service, Serious Fraud Office, Government Legal Department and HM Crown Prosecution Service Inspectorate.

They also carry out public interest functions, including referring sentences to the Court of Appeal under the Unduly Lenient Sentence scheme, taking legal action against people in contempt of court and providing consent to prosecute offences.

Source: punchng.com

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Nigeria @66: CAN demands lower food, transport costs

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The Christian Association of Nigeria has urged the Federal Government to prioritise reductions in the cost of food, transportation and energy as the country marks its 66th Independence Anniversary.

It also asked the government to strengthen social protection and improve security, saying the benefits of economic reforms must translate into better living conditions for citizens.

CAN said Nigerians who had endured years of economic pressure deserved to begin experiencing meaningful relief in their daily lives.

The association made the call in a statement signed by its President, Archbishop Daniel Okoh, on Thursday.

CAN said that while it welcomed the transition from economic reforms to an era of prosperity, the success of the reforms should be measured by their impact on ordinary Nigerians.

President Bola Tinubu had, during his broadcast to Nigerians to mark the Independence Day anniversary, on Thursday, declared that Nigeria is now in the era of prosperity, having endured the tortuous reforms.

Speaking on the development, CAN said, “We welcome the shift from an era of economic reforms to an era of prosperity. But the true test of progress is not in statistics alone. It is whether families can afford food, young people can find decent work, communities can live in safety, and every child has a fair opportunity to build a future.”

The Christian body urged the government to “make lower food, transport and energy costs a measurable priority.”

“Nigerians who have endured years of economic pressure deserve to begin seeing meaningful relief in their daily lives,” CAN added.

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Archbishop Okoh also called for stronger social protection for vulnerable Nigerians, including support for education, healthcare and affordable credit.

According to the association, such interventions must be transparently administered and protected from diversion.

“Prosperity that does not reach the ordinary Nigerian home remains incomplete,” CAN said.

On insecurity, the CAN President said economic prosperity would remain difficult to achieve where citizens “cannot farm, trade, travel or sleep peacefully because of fear.”

He, therefore, urged the government to sustain efforts to protect lives, secure communities and restore confidence across the country.

With the 2027 political season approaching, the association also cautioned politicians against exploiting religion for partisan purposes.

“CAN again reminds all political actors that no politician is the Messiah,” it said, adding that Christians were free to support or criticise any candidate.

The association warned against dragging the name of Jesus Christ into partisan rivalry or using it as a political weapon.

CAN reaffirmed its commitment to its role as a non-partisan moral voice, saying it would continue to commend what is right, speak when citizens are hurting and hold leaders to the values of justice, accountability and compassion.

The association congratulated Nigerians on the 66th Independence anniversary and called for a new phase in which the promise of prosperity would translate into tangible improvements in the lives of citizens.

Meanwhile, the Borno State CAN chairman, Most Revd John Bakeni, has said religious leaders are part of Nigeria’s problem since independence, warning that the failure of pastors and Imams to speak truth to power may continue to hinder the nation’s development.

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Bakeni stated this in Maiduguri at an Independence Day celebration event organised as part of activities to commemorate “CAN at 50.”

Addressing newsmen shortly after the event, he said many religious leaders had exchanged their religious garments for political garments, warning that such a trend could affect the general well-being of society.

He said, “Sorry to say this; in some cases, we are part of the problem of Nigeria. Many of us religious leaders today, both Christian and Muslim leaders, have removed our garments of ordination and put on political garments.”

The cleric said religious leaders must see themselves as vanguards of truth who bear the responsibility of speaking out when things are going wrong in society.

“Whether as imams or as bishops, we are vanguards of truth and justice. When we see things going the wrong way, it is a moral obligation on our shoulders to speak to those in authority, especially those who make our policies and laws, to call their attention to these realities, so that the common good will be sustained and the resources of the land will be distributed equitably to all citizens,” he said.

Bakeni noted that this year’s Independence Day anniversary presented a sober celebration, following the severe hardship and insecurity in the country.

He called on the government to make policies that would alleviate the suffering and the hardship of the Nigerian people.

“There is no need being in place as a government if your subjects are going to face hardship and poverty. We have the resources and wealth to cater for our people, but the problem is the management,” he stressed.

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On the 2027 elections, the CAN Chairman urged Nigerians to vote for candidates based on their personal assessment without waiting for anyone to direct them on who to vote for.

“We have tested them (politicians), so you don’t need anybody to tell you who to elect.

“You have the strongest weapon, which is your voters card in your hands as citizens, and that is what you should use to bring in leaders who will deliver the dividends of democracy and ensure that citizens live worthy lives,” he stated.

Source: punchng.com

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