The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have agreed to increase oil production by 137,000 barrels per day (bpd) starting November 2025. This decision was made during a virtual meeting on October 5, 2025, where the group reviewed global market conditions and outlook. The move aims to maintain market stability amid steady global economic growth and low oil inventories. OPEC+ emphasized the importance of maintaining market stability and flexibility to pause or reverse output changes if necessary. According to the group, “In view of a steady global economic outlook and current healthy market fundamentals, as reflected…
Author: Omolemi Eboisetale
Former President Goodluck Jonathan’s potential return to the 2027 presidential election has sparked debate, with Senator Adams Oshiomhole advising him against it. According to Oshiomhole, the All Progressives Congress (APC) would easily defeat Jonathan, making it an unnecessary risk. Oshiomhole stated that Jonathan’s decision to concede defeat in 2015 earned him global admiration and respect. “How can Jonathan be a threat? We defeated him before when PDP was truly PDP. If a man had PDP at its best, at its peak, and he was defeated, I think only his enemy will push him to go into election,” Oshiomhole said. The…
China’s push to develop top-end artificial intelligence microchips is gaining momentum, but analysts say it will struggle to match the technical might of US powerhouse Nvidia within the current decade. The US has imposed restrictions on exporting advanced chips used to power AI systems to China, citing national security concerns. This move has led China to ramp up its chip industry, with companies like Huawei and Cambricon making significant strides. China wants chips that policy cannot take away, said Stephen Wu, a former AI software engineer and founder of the Carthage Capital investment fund. However, “full end-to-end parity with Nvidia’s…
Bitcoin experienced a significant drop to $123,863 on Monday, following a new record high of $125,689 over the weekend. This surge surpasses its previous record of around $124,500 in August. The cryptocurrency’s market capitalization touched $2.5 trillion, with investors viewing it as a hedge against the US dollar amid economic uncertainty. The growing interest in Bitcoin can be attributed to several factors. Institutional demand has been on the rise, with companies like MicroStrategy accumulating Bitcoin. Strong inflows into Bitcoin ETFs, exceeding $4.5 billion, indicate growing mainstream acceptance. According to Sumit Gupta, Co-Founder at CoinDCX, “The bulls have been dominating the…
The Akwa Ibom State Government has denied reports alleging that security operatives attached to former Governor Udom Emmanuel were withdrawn on the orders of Governor Umo Eno. The state described the claim as false, mischievous, and aimed at creating unnecessary tension within the state. In a statement released by the Commissioner for Information, Aniekan Umanah, the government said no such directive was issued and that the story circulating on social media was fabricated. “The Governor did not and could not have ordered the withdrawal of security details from the former Governor,” Umanah stated. “Security deployments are the responsibility of the…
Taylor Swift has once again proven her dominance in both music and film, as her latest cinematic experience, The Official Release Party of a Showgirl, debuted at number one across North American theatres. The 89-minute event film opened to an impressive $33 million over the weekend, making it one of the strongest October debuts of the year. According to data released by AMC Theatres, the project was screened in over 500 locations across the United States and select theatres in Canada and Mexico. The film combines music performances, behind the scenes moments, and visual storytelling centered around Swift’s 12th studio…
The National Drug Law Enforcement Agency, NDLEA, has dismantled a major cocaine trafficking syndicate responsible for six shipments of the illicit substance to the United Kingdom. The agency said the three-week intelligence-led operation led to the arrest of five suspects, including the ring leader, identified as Alhaji Hammed Taofeek Ode, who claimed to be a businessman and property developer. In a statement released on Sunday by its Director of Media and Advocacy, Femi Babafemi, the NDLEA said the first breakthrough came on September 16, 2025, when operatives at the Murtala Muhammed International Airport, Ikeja, intercepted 174 parcels of cocaine weighing…
The cost of cooking gas has surged sharply across Nigeria, leaving many households struggling to cope with the impact of the worsening shortage. Findings show that the price of refilling a 12.5-kilogram cylinder of Liquefied Petroleum Gas, LPG, has climbed from about N17,500 last week to as high as N25,000 in major cities. Dealers blame the increase on supply shortages, rising international prices, and high transportation costs. “There is limited supply from terminals, and most of us are buying from middlemen at inflated rates,” said an LPG retailer in Lagos, Chika Nwosu. “We are forced to pass the cost to…
The global lithium industry is now valued at about $92 billion, but Nigerian investors remain largely excluded from the booming market. Despite Nigeria’s abundant lithium reserves, most of the major exploration and processing rights are held by foreign firms, especially from China. Analysts say the country risks missing a major opportunity if local participation remains minimal. Experts warn that Nigeria could once again fall into the trap of exporting raw minerals without gaining real economic value. “We have over $34 billion worth of lithium reserves, yet the bulk of the profit is leaving our shores,” said an economist, Dr. Kola…
The US government shutdown has entered its second week, with Republicans and Democrats locked in a stalemate over government spending and healthcare subsidies. The impasse has shut down most federal operations, putting thousands of federal workers at risk of layoffs. The shutdown stems from disagreements between Republicans and Democrats over funding for the Affordable Care Act, also known as Obamacare. Republicans are pushing for a temporary funding resolution without subsidies, while Democrats demand continued funding. According to Kevin Hassett, Director of the White House’s National Economic Council, “If the president decides that the negotiations are absolutely going nowhere, then there…
The Anambra State Police Command has begun enforcing the tinted glass permit regulation, advising motorists to register their vehicles with tinted glasses through the official portal. This move aims to enhance public safety and curb crimes such as armed robbery, kidnapping, and attacks on residents. According to the Police Public Relations Officer, SP Tochukwu Ikenga, the exercise is based on credible intelligence that some criminals use vehicles with unauthorized tinted glasses to evade security checks and perpetrate crimes. “The ongoing enforcement of tinted glass permit is not intended to punish road users, but to ensure public safety,” Ikenga said. The…
The Nigerian Bar Association (NBA) Kebbi State branch has issued a directive advising its members to avoid traveling to nine local government areas in the state due to kidnapping threats. The affected areas are Bagudo, Suru, Kamba in Dandi, Bunza, Kangiwa in Arewa, Dirin Daji in Sakaba, Ribah, Kanya, and Augie. This directive was issued by the NBA Chairman in Kebbi State, Aminu Hassan, following the abduction of one of its members, Isyaku Muhammad Danjuma, along the Ibeto Birnin Kebbi route in Magama Local Government Area of Niger State. “We urge our members to prioritize their safety and security by…