Organisation of Petroleum Exporting Countries (OPEC) reports that Nigeria’s crude oil production, excluding condensate, dropped by 0.7 per cent to 1.486 million barrels per day (mbpd) in November 2025 from 1.496 mbpd in October.​

OPEC

The figure, drawn from secondary sources in OPEC’s December 2025 Monthly Oil Market Report, fell short of Nigeria’s 1.5 mbpd quota. Direct communication data showed output at 1.436 mbpd, up from October’s 1.401 mbpd, but still below target.​

Nigeria produces around 196,028 bpd of condensate, excluded from quota calculations per Nigerian Upstream Petroleum Regulatory Commission figures. Year-on-year, November’s output marked a slight gain over 1.417 mbpd in November 2024.​

Expert Cites Insecurity, Governance Gaps

Petroleum economics expert Wumi Iledare described the quota miss as unsurprising, blaming persistent insecurity, an ageing oil basin lacking new finds, and unoffered hydrocarbon blocks. Governance shortcomings and policy uncertainty further erode investor confidence, he noted.​

Selective implementation of the Petroleum Industry Act worsens the situation, with Nigeria needing a single authoritative leader for the sector rather than multiple proxies, Mr Iledare stressed. The country has struggled to consistently hit OPEC targets for years.

Independent Corrupt Practices and Other Related Offences Commission (ICPC) has filed a criminal charge against Chief Mike Ozekhome, SAN, alleging his involvement in a corruption scheme connected to a London property.

Chief Ozekhome

The ICPC filed a three-count charge before the Abuja High Court through its Head of High Profile Prosecution Department, Osuobeni Akponimisingha. The charge, marked FCT/HC/CR/010/26 and dated 16 January, names Ozekhome as the sole defendant in the case.

In the first count, the commission alleged that Ozekhome, aged 68 and residing at No. 53 Nile Street, Maitama, Abuja, received a property described as House 79, Randall Avenue, London NW2 7SX, around August 2021. The ICPC stated that the property was purportedly given to him by one Mr. Shani Tali and that the act amounted to a felony contrary to Section 13 and punishable under Section 24 of the Corrupt Practices and Other Related Offences Act 2000.

In the second count, the senior lawyer was accused of making a false document with a Nigerian passport bearing the name “Mr. Shani Tali” around the same period. The commission alleged that the passport, marked A07535463, was intended to support a fraudulent claim of ownership of the London property. The alleged offence contravenes Section 363 and is punishable under Section 364 of the Penal Code CAP 532 Laws of the Federal Capital Territory (FCT), Abuja, 2006.

The third count alleged that Ozekhome dishonestly used the same passport to support claims over the property despite allegedly knowing the document was false, an offence said to violate Section 366 and punishable under Section 364 of the Penal Code.

Supporting documents attached to the charge include an extra-judicial statement allegedly made by the defendant on 12 January 2026, a judgment referenced as REF/2023/0155 dated 11 September 2025, interim forfeiture proceedings relating to the London house, a data page for “Shani Tali,” a letter dated 18 December 2025, and other expected materials.

The ICPC also listed several individuals expected to testify, including investigators Wakili Musa and Tosin Olayiwola, a representative of the Nigerian Immigration Service, and investigators Ebenezer Nduo and Blessing Monokpo, alongside any additional witnesses the commission may call. As of the time of reporting, the case had not yet been assigned to a judge.

The development follows an earlier investigation by the ICPC sparked by a petition from Olanrewaju Suraj, head of the Human and Environmental Development Agenda (HEDA), citing a judgment from a London property tribunal.

The tribunal’s ruling had linked Ozekhome and others to alleged forgery and fraudulent claims of ownership of the North London building. The petition accused several individuals of conspiring with corrupt Nigerian officials to procure forged identity documents for the purpose of “fraudulently claim[ing] ownership” of the property.

Nigerian Exchange Limited (NGX) has launched the NGX Net-Zero Programme to guide listed companies toward clear carbon reduction pathways and enhanced climate disclosures aligned with global investor standards.

NGX

The high-level launch engaged chief executives of quoted firms alongside development partners including German Investment Corporation KfW, DEG, and African Foresight Group (AFG), NGX’s implementation partner. Issuers and investors discussed financing decarbonisation, sustainability practices, and attracting climate-aligned capital.

NGX Group Chairman Dr Umaru Kwairanga described the initiative as concrete climate action, commending partners for two years of groundwork. “Today marks leadership and decisive action. Climate change has become a core business imperative, with capital markets mobilising capital and setting standards,” Kwairanga said.

He positioned NGX Net-Zero to support emissions measurement, disclosure, capacity building, and sustainable finance access, urging CEOs to embrace it strategically rather than as compliance. Kwairanga reaffirmed NGX’s goal to make Nigeria’s capital market Africa’s green finance hub.

Group CEO Temi Popoola called climate action a business imperative, noting sustainability-embedded firms attract capital, manage risks, and stay competitive. DEG Management Board Member Monika Beck highlighted partnerships scaling impactful, commercially viable climate solutions.

The event closed with a ceremonial gong marking the programme launch and send-off for outgoing DEG Regional Director Bernd Telemann.