Category: PM News

The world oil market is facing a shock as OPEC plans to increase oil production. Oil prices fell again on Thursday, marking the fourth straight day of decline.

Brent crude dropped to its lowest level since early June, as traders worried about too much oil in the market.

Sources say OPEC+ may agree to raise production by as much as 500,000 barrels per day in November three times more than the increase for October. Saudi Arabia is reportedly leading this move to regain its share of the market.

Jorge Montepeque, Managing Director of Onyx Capital Group, said some banks, including Macquarie, are warning of a possible ‘super glut’ meaning there could be far more oil than needed, which is lowering market confidence.

Meanwhile, the finance ministers of the G7 countries said on Wednesday they plan to increase pressure on Russia by targeting those who keep buying Russian oil.

The United States also plans to give Ukraine intelligence to help with long-range missile strikes on Russian energy sites. According to officials, this will help Ukraine attack refineries, pipelines, and other key facilities to cut Russia’s oil revenue.

UBS analyst Giovanni Staunovo said there are renewed concerns that Russian oil supplies could be disrupted. However, he added that unless actual disruptions occur, the effect on oil prices will likely be small.

The Defence Headquarters (DHQ) says a total of 16 officers of the Armed Forces of Nigeria are to face military justice over alleged acts of indiscipline and breach of service regulations.

This is contained in a statement by the Director of Defence Information, Brig.-Gen. Tukur Gusau, on Saturday in Abuja.

Gusau said the officers were apprehended during a routine military exercise following investigations into various acts considered inconsistent with military discipline and service ethics.

According to him, findings revealed that some of the officers’ grievances were linked to perceived career stagnation arising from repeated failure in promotion examinations and other service-related issues.

‘Some of the apprehended officers had earlier been under jurisdiction for various offences, either awaiting or undergoing trial.

‘Their conduct was found incompatible with the standards of the military service,’ he said.

Gusau explained that upon conclusion of investigations, all indicted personnel would face appropriate disciplinary measures in accordance with the Armed Forces Act and established military justice procedures.

He said that the ongoing action was purely disciplinary and part of routine efforts to preserve order, discipline and professionalism in the armed forces.

He assured the public that the military remained committed to upholding its core values of loyalty, integrity, and constitutional obedience under democratic authority.

‘The Armed Forces of Nigeria will not tolerate any behaviour that undermines its cohesion or threatens its constitutional role.

The military remains fully committed to professionalism and the defence of Nigeria’s sovereignty,’ he added.

Libra woman, Rap Goddess, was born on September 30th and she is known for her charm, social grace, lyrical prowess, love of balance and harmony, often called Goddess of Rap for her anthemic ode to female empowerment she values fairness and intellectual conversation but she is decisive with decision-making and may hide her true emotions to maintain peace and balance, sometimes leading to mood swings.

Ruled by the planet Venus, she has an innate charm and appreciation for beauty, making her an attractive and logical problem-solver who enjoys making others feel welcome and entertained with her timeless music.

Rap Goddess personality and Traits; As a Libra Woman she’s charming and social, Rap Goddess has natural social butterflies, comfortable in new situations, and skilled at drawing people in with their humor and intellect.

Maureen James, who is widely known as Rap Goddess, is diplomatic and peaceful: she’s drawn to balance and harmony, excels at mediating disputes, and dislikes unfairness, often seeking peaceful solutions.

As a Libra Woman, she is very intellectual and logical: She has strong reasoning powers and enjoys intelligent and healthy conversations, even engaging in logical arguments.

She is often Indecisive, her careful consideration of all possibilities can make it difficult sometimes to make quick decisions.

Rap Goddess is a lover of act, music, creativity, and balance. In her first verse of her hit song, Libra Woman, she said;

I operate from the sense

Of balance

You gotta understand

a libra woman

Is an independent woman

With a big heart

And her true essences

Is her inner beauty

When she steps into a room

It magnetic

Her true currency is not of the world

Which is the paper money

It’s her big energy

That’s her true currency

She’s the boss queen

The captain of her own ship

She sensitive

And delicate heart

that few get to experience

she’s a true love of nature

A libra woman loves so hard

A libra woman is the leader of the zodiac

Selfless and caring

with decisiveness

But her intuition is so strong

I’m a libra

With her natural grace and presence

She’s equilibrium

And she’s the balance

Lagos State Governor, Babajide Sanwo-Olu, has celebrated 15-year-old Kanyeyachukwu Tagbo-Okeke, a Nigerian teenager living with autism, for making history by creating the world’s largest canvas painting by an individual.

The monumental artwork, titled ‘Impossibility is a Myth’, spans an astonishing 12,303.87 square metres, earning Kanyeyachukwu a place in the Guinness Book of World Records and international acclaim. The piece was unveiled at Marina, Eko Atlantic City, Lagos.

Speaking through his Special Adviser on Tourism, Arts, and Culture, Idris Aregbe, the governor described the achievement as a powerful statement on youth potential, disability inclusion, and the indomitable Nigerian spirit.

‘At just 15, Kanyeyachukwu has done what many thought impossible. His painting is not just a personal triumph – it is a symbol of possibility, inclusion, and hope,’ Sanwo-Olu said.

He highlighted the infinity symbol at the centre of the painting as a message of boundless potential, particularly for people on the autism spectrum. The governor also reiterated his administration’s commitment to investing in platforms that promote youth creativity and global competitiveness.

The painting, first unveiled on World Autism Awareness Day 2025, combines turquoise and coral hues with imagery of multiple human faces to reflect emotions, diversity, and shared humanity.

Kanyeyachukwu, who is non-verbal, has used visual art as his primary form of communication since early childhood. His work has inspired global attention and advocacy for neurodiverse creatives.

Memories of legal icon, Chief Gani Fawehinmi, SAN, came alive on Thursday, when lawyerss and workers of the Nigerian Weekly Law Report he left behind 16 years ago gathered at the Headquarters of the publication at Alausa Ikeja, Lagos to celebrate 40th anniversary of the publication.

The lawyers and other workers who have been with the company and its subsidiary for over 38 years told journalists that celebrating the enduring legacy of the legal icon is a reflection on four decades of consistent law reporting while unveiling future innovations aimed at strengthening access to justice.

A commemorative event to mark the 40th anniversary, according to the Chairman of the planning committee, Barrister Oluwole Kehinde, will feature the former Governor of Lagos State, Babatunde Raji Fashola (SAN) who will deliver a key note address.

Besides, Barrister Kehinde, who is the Editor of NWLR hinted that he event which will be chaired by the Chief Justice of Nigeria, Hon. Justice Kudirat Kekere-Ekun will also host jurists, legal scholars, publishers, and Judicial media professionals.

He said the theme of the anniversary, ‘Safeguarding the Legacy of Law Reporting and Embracing the Future in Technology,’ underscores the dual focus of preserving the rich heritage of law reporting while embracing digital innovations that shape modern legal practice.

He said, ‘the Nigerian Law Report, first published on October 1, 1985, holds the distinction of being the first dedicated law reports in Nigeria and across Africa, the publication succeeded where other publications that preceded it failed.’

‘Since its maiden edition released on Nigeria’s 25th Independence Day, the publication has provided weekly compilations of court decisions, thereby making the law accessible to judges, lawyers, researchers, and students.’

He also said the celebration was not only about looking back at the achievements of the past, but also about projecting into the future. ‘Forty years of uninterrupted publication is a rare feat in Africa’s publishing and judicial history. The Nigerian Law Report has become an indispensable tool for justice delivery, and today we celebrate both its legacy and its promise,’ he said.

The Chairman of the Editorial Board, Mr. Ayo Olanrewaju, described the NWLR as ‘the conscience of legal reporting in Nigeria,’ noting that it has consistently maintained editorial independence and a rigorous standard of accuracy.

Also present was Mr. Mojeed Ajao, immediate past Managing Director of the Nigerian Law Publications Limited, who highlighted the innovations the publication has embraced over the years.

The Acting Managing Director, Mr Gbenga Ogunleye, recalled that in 2019, the Nigerian Law Report launched its online platform, making thousands of judgments available digitally.

‘We realized that the future of law reporting must be driven by technology, and that step has allowed practitioners and researchers across the world to access Nigerian jurisprudence at the click of a button.’

Ogunleye, however, praised the Nigerian Law Report for ‘democratizing access to judicial precedents’ and called for further innovations, including artificial intelligence-driven search tools and wider open-access platforms.

From its humble beginnings in 1985 to becoming Africa’s longest-running specialized law report, the NLR has played a critical role in strengthening Nigeria’s legal framework. Its consistent weekly publications have ensured that court decisions an essential component of the nation’s laws are readily accessible to the bench, the bar, and the wider public.

‘As the Nigerian Law Report steps into its fifth decade, stakeholders pledged to uphold its founding vision while harnessing technology to advance justice delivery. The celebration not only highlighted a remarkable journey of consistency but also pointed the way to a more innovative and accessible future in Nigerian law reporting.’

Other notable attendees included members of the editorial board such as Senior Editor, Simon Evivie, Yinka Olatunji, Snr. Deputy Editor and Editorial Secretary, NWLR; Chidinma Ojigwe, Assistant Editor, NWLR and Secretary, 40th Anniversary Planning Committee, as well as representatives of the board of Directors.

The Chairmen of Mopamuro and Ijumu Local Governments in Kogi, have issued executive orders prohibiting the sale of petrol in jerrycans as part of efforts to curb activities of kidnappers and bandits in their domains.

The two local government areas in Kogi West Senatorial have virtually become the hub for kidnapping activities in the state.

The ban on the sale of fuel in jerrycans will cut off logistics supply to the criminal elements, Mr Ademola Bello, Chairman of Mopamuro, said while announcing the executive order on Friday in Mopa.

He reiterated that the directive was part of efforts to address the growing menace of banditry and kidnappings in the area and Kogi at large.

According to him, the prohibition of fuel sales to individuals in jerrycans is designed to prevent the diversion of fuel into unauthorized channels, especially bandits’ hideouts.

Additionally, Bello restricted sales of provisions in bulk, instructing provision store owners to stop selling goods, particularly food items and other essentials in bulk, to discourage supplying bandits in their various hideouts.

‘To further enhance security surveillance and reduce the incidence of crime at late-night, a curfew has been imposed in Mopamuro LGA, restricting movement beyond 10 p.m.,’ he said.

The chairman directed all security agencies within the local government to strictly enforce the provisions of the executive order.

He warned that any individual found violating these directives would be apprehended and sanctioned in accordance with the law.

‘By adhering to these regulations, residents can significantly contribute to maintaining peace and security within their communities.

‘Together, we can make Mopamuro a safer and more secure place for everyone,’ Bello said.

Similarly, Alhaji Ibrahim Haruna, the Chairman, Ijumu Local Government, issued a directive halting the sale of petrol in jerrycans in the area.

Haruna cited credible intelligence indicating that large quantities of petrol were being diverted for use by kidnappers and bandits.

He emphasised the urgent need for residents to comply with the directive, stressing that the measure was necessary for the safety and security of the community.

Both Chairmen urged residents to cooperate with the local government administration and security agencies in ensuring the success of this initiative.

They assured residents that Kogi State Government was working assiduously to tackle the current security threats.

The chairmen urged the public to remain calm, cooperate fully with authorities, and continue to support government efforts with their prayers. (NAN)

The Nigerian naira fell sharply against the United States dollar at the close of trading on Friday, ending the week on a disappointing note after days of positive performance.

According to official data released by the Central Bank of Nigeria (CBN), the naira depreciated to ?1,465.68 per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), compared to ?1,455.25 per dollar recorded on Thursday.

This represents a ?10.43 drop in value within a single day, signaling renewed pressure on the local currency after a brief period of recovery.

The decline comes after the naira had shown strong momentum earlier in the week, gaining steadily for four consecutive days due to improved dollar supply and increased investor confidence.

However, market analysts suggest that renewed demand for foreign exchange by importers and corporate entities toward the weekend may have triggered the latest round of depreciation.

At the parallel (black) market, the naira remained stable at ?1,485 per dollar on both Thursday and Friday, suggesting that traders are maintaining a wait-and-see approach as the market adjusts to recent policy measures introduced by the apex bank.

Despite Friday’s decline, the naira still recorded a slight improvement on a week-on-week basis, appreciating by ?14.98 when compared to the ?1,480.66 per dollar exchange rate recorded on Friday, September 27, 2025.

Meanwhile, Nigeria’s external reserves have continued to grow, standing at $42.40 billion as of October 2, 2025, up from $42.33 billion just three days earlier.

Analysts view this steady rise in reserves as a positive sign, reflecting improved foreign inflows and potential stability for the foreign exchange market in the coming weeks.

Experts have continued to urge the Central Bank to sustain its monetary tightening measures and enhance transparency in the forex market to restore full confidence among investors and businesses.

They also emphasized the need for Nigeria to boost local production and reduce dependence on imports, which remains one of the major factors driving dollar demand.

While the week ended with a slight setback for the naira, economists remain cautiously optimistic that the local currency could regain strength if foreign inflows continue to rise and market reforms are fully implemented.

Ogun State Governor, Dapo Abiodun, has announced a strategic partnership with Chinese investors aimed at enhancing the state’s energy infrastructure and expanding its industrial capacity.

In a statement shared on X (formerly Twitter) on Saturday, the governor revealed that discussions were held with the Jiangsu-based energy company Cteec. Talks focused on financing opportunities, technical expertise, and the company’s readiness to deliver key energy projects in the state.

Governor Abiodun noted that the engagement centred around three major areas of collaboration: Strengthening power transmission and distribution across the state; establishing an Industrial Park designed to attract Chinese manufacturers and integrate power solutions, and installing a free 3MW power plant at the Gateway International Cargo Airport to support immediate operations.

‘Our discussions highlighted three critical components of our partnership: the reinforcement of Ogun’s electricity infrastructure, the creation of a manufacturing hub powered by reliable energy, and the installation of a 3MW power facility at our airport, which will immediately catalyse activity at that important location,’ Abiodun stated.

The governor also disclosed that the Chinese delegation would inspect ongoing distribution and power infrastructure projects executed by Sahara and Powergen, as part of wider efforts to secure a stable energy supply for the state.

According to Abiodun, Cteec already has an existing investment portfolio of 100MW in Nigeria and is now seeking to expand its footprint. The company’s interests include power generation and distribution, investment in a dedicated state transmission network, and the development of an Industrial Park to attract further Chinese manufacturers to Ogun State.

‘This partnership is yet another testament to our unwavering commitment to building the energy backbone that will support Ogun State’s industrialisation and long-term economic development,’ the governor added.

In related developments, the Gateway International Airport in Iperu-Ilishan is gearing up for commercial operations. Reports indicate that inaugural flights from the airport to Abuja have sold out, with tickets for subsequent days also fully booked , signalling strong demand and readiness of the facility to serve as a key aviation hub in Nigeria.

‘Our vision has always been to leave a legacy of sustainable development and inclusive growth. From constructing roads that ease transportation of people and goods, to developing affordable housing, we remain committed to improving the quality of life for our citizens,’ said Abiodun.

The Nigerian Civil Aviation Authority officially granted the Gateway International Airport its Aerodrome Operational Permit in August 2025. Passenger flight services are scheduled to commence on 7 October 2025, with Value Jet Airline operating flights twice weekly.

Chelsea grabbed all three points in dramatic fashion after edging Liverpool 2-1 in a heated Premier League clash at Stamford Bridge on Saturday night.

Moises Caicedo was the hero for the Blues, scoring twice, including a 95th-minute stunner that sent the home fans wild.

The midfielder gave Chelsea an early lead in the 14th minute with a fine strike from the edge of the box after a clever pass from Malo Gusto.

Liverpool drew level in the 63rd minute through Cody Gakpo, who finished off a neat move from Alexander Isak’s assist.

Just when it looked like both sides would share the spoils, Caicedo struck again deep into stoppage time to hand Enzo Maresca’s men a massive win.

Liverpool’s Dominik Szoboszlai was booked late on for a rough challenge on Marc Cucurella, while Chelsea’s defensive troubles worsened after Benoît Badiashile limped off injured – leaving all six senior centre-backs sidelined.

The victory extends Chelsea’s unbeaten run to three league games and lifts the mood around Stamford Bridge after a dramatic finish..

Bukayo Saka and Declan Rice were the stars of the show as Arsenal cruised past West Ham United on Saturday, marking Mikel Arteta’s 300th game in charge with a dominant 2-0 victory at the Emirates Stadium.

Rice opened his account for the season against his former club, finishing neatly after Eberechi Eze’s shot was parried by Alphonse Areola. The goal came shortly after captain Martin Odegaard was forced off with an injury, the third straight home game the midfielder has failed to finish.

Despite the setback, Arsenal maintained full control of the match. Their attacking intent was clear from the start, with Arteta fielding an adventurous midfield of Rice, Odegaard, and Eze, showing the depth of a squad strengthened by a £250m summer overhaul.

The Gunners sealed victory in the second half after Jurrien Timber was brought down by El Hadji Malick Diouf inside the box. Saka, making his 200th Premier League appearance, calmly converted the resulting penalty, his 55th league goal for the club.

The win sent Arsenal to the top of the Premier League table, overtaking Liverpool ahead of their clash with Chelsea later in the day.

For West Ham, new boss Nuno Espirito Santo is still searching for his first win. His side showed flashes of discipline and organisation but were ultimately second best against a superior Arsenal team.

Niclas Fullkrug went close from a corner, while Lucas Paquetá fired over the bar, but the visitors rarely threatened Guglielmo Vicario’s goal.