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PoliticsEndsars Report: Protesters Killed At Lekki Tollgate More Than Nine But Relatives by treesun(op): 1:39pm On Nov 16, 2021
One of the #EndSARS protesters lawyers, Adesina Ogunlana, says more than nine protesters were killed at the Lekki tollgate on October 20, 2020.

He explained that the Judicial Panel of Inquiry on Restitution for Victims of SARS-related Abuses and Other Matters named only nine deceased because of the evidence available before them.

According to the report submitted by the panel, no fewer than nine #EndSARS protesters were killed at the Lekki tollgate on October 20, 2020, while four others were presumed dead.

The report listed 48 names as those who were casualties of the Lekki incident of October 20, 2020.

Among the 48 casualties listed, 24 sustained gunshot injuries, while 15 others were assaulted by soldiers and police.

The panel also noted that 96 other corpses were presented by a Forensic Pathologist of the Lagos State University Teaching Hospital, Professor John Obafunwa, but were rejected over lack of concrete evidence linking the cause of their deaths to the Lekki tollgate.

The lawyer lamented that many families and witnesses were scared to testify publicly before the panel.



While commending the efforts of the panel, he noted that the pieces of evidence supplied by the protesters and their legal teams overpowered those of the Army, police, and Lekki Concession Company.

He told The PUNCH in a telephone interview that some of the eyewitnesses thought they could be killed if they testified.


Ogunlana said, “It was a quality report not because it is favourable to us but the meticulous that went into it. A report of over 300 pages is not a joke. That report was unanimous. The police representative was there, government, respected lawyers and you have a sitting judge who did not sell her integrity.

“The representation was rich and balanced. Our pieces of evidence overpowered them. They were more credible than those of LCC, police, army. The evidence brought by the petitioners was a quality one that sailed through despite cross-examination.

“I give kudos to the teams defending the protesters. We had galLant ladies that came up despite the intimidation. There was a fair hearing.”

When asked if only nine protesters were killed, he replied, “They are more than nine but the panel worked with those with concrete evidence.

“Some of the eyewitnesses and relatives were scared to speak. It was hectic to get people to testify. some thought they will be killed.


“Assuming that there was no fear, more people would have come out. Some people are regretting they didn’t come out to. About five people withdrew when it was time to testify before the panel. They thought they will be hurt later.”


https://punchng.com/endsars-report-protesters-killed-at-lekki-tollgate-more-than-nine-but-relatives-scared-to-testify-lawyer/
PoliticsRe: EndSARS: ‘Truth Needs No Defence’, DJ Switch Speaks On Panel’s Report by treesun(op): 10:42am On Nov 16, 2021
Truth is truth anywhere.
PoliticsEndSARS: ‘Truth Needs No Defence’, DJ Switch Speaks On Panel’s Report by treesun(op): 10:30am On Nov 16, 2021
Nigerian disc jockey, Catherine Udeh, popularly known as DJ Switch, has reacted to the report by the Lagos State Judicial Panel of Inquiry on Restitution for Victims of SARS Related Abuses and other matters.

According to the report submitted by the panel, at least nine persons were confirmed dead at the Lekki toll plaza on the night soldiers stormed there to disperse #EndSARS protesters on October 20, 2020.

The Justice Doris Okuwobi-led panel made this known in its report submitted to the Lagos State Government on Monday.

Titled, ‘Report of Lekki Incident Investigation Of 20th October 2020’, a copy of which was made available to The PUNCH, the panel said at least 48 protesters were either shot dead, injured with bullet wounds or assaulted by soldiers.

According to the report, nine protesters were confirmed dead, while four were presumed dead. The panel listed 48 names as casualties of the incident.

Among the 48, about 20 sustained gunshot injuries, while 13 others were assaulted by the military.

Taking to her verified Twitter page, DJ Switch wrote, “Shattered so many lives, tried to destroy mine. Only for what you desperately tried to hide to be made public… by you! The truth needs no defence! #EndSARS.”



The DJ gained more prominence last year when she took to her Instagram page to do a live coverage that showed protesters being shot at by personnel of the Nigerian Army at the Lekki Toll Gate during the #EndSARS protest that rocked the nation last year.

While most Nigerians praised her for her braveness, the DJ has claimed that she is on the run from the Nigerian government.

So far, the disc jockey is trending at the number four spot on the Nigerian Twitter space as she is been praised for her bravery while capturing on her Instagram Live, soldiers shooting at the protesters.

Hailing DJ Switch, popular activist, Rinu took to her verified Twitter page stating that the event of October 20, 2020, changed and halted the life of the disc jockey

She tweeted, “DJ Switch suffered for over a year on the Lekki massacre. Career and life halted, embarrassed, trolled, hounded out of her home, her country, everything she had going nicely, stopped. All because she was brave enough to stand, document the kïllings and say the truth.”

Popular On-Air Personality, Frank Edoho also tweeted, “Even George Lucas’ company, Industrial Light and Magic does vfx for recorded footage yet liars claimed that DJ Switch had the resources to doctor a live IG video showing people being shot at. It’s the liars among us(the citizens) that need to hang their heads in crying shame.
https://punchng.com/endsars-truth-needs-no-defence-dj-switch-speaks-on-panels-report/

PoliticsRe: Electricity Consumers Not Required To Pay For Meters Under NMMP — NERC by treesun: 10:25am On Nov 16, 2021
PoliticsRe: Governor Zulum,senator Ndume Visits Bola Tinubu (Photos) by treesun: 10:22am On Nov 16, 2021
They want to make elephant king, but a big whole dug covered with mats.
PoliticsRe: EndSARS Judicial Panel Report Features On CNN (Video) by treesun: 9:44am On Nov 16, 2021
Penguin2:
The just concluded EndSARS Panel Report of the Lagos State Judicial Commission has just been featured on CNN.

Recall that CNN was the first International News Platform to make an extensive report of the massacre after government authorities including the military, tried to deny it happened.


https://www.youtube.com/watch?v=QOQ86ZkRv6c
No place to hide!
PoliticsRe: Nigeria Shatters In Buhari- Osinbajo Hands by treesun(op): 8:53am On Nov 16, 2021
Buhari and Osibanjo has fall our hands.
PoliticsRe: FG Replies US-based Organisation, Denies Sponsoring Terrorism by treesun(op): 8:51am On Nov 16, 2021
ISAWP now get land in Nigeria
PoliticsRe: FG Replies US-based Organisation, Denies Sponsoring Terrorism by treesun(op): 7:35pm On Nov 15, 2021
Government of lack of truth!
PoliticsRe: Nigeria Shatters In Buhari- Osinbajo Hands by treesun(op): 7:30pm On Nov 15, 2021
The system has collapsed.
PoliticsRe: Nigeria Shatters In Buhari- Osinbajo Hands by treesun(op): 1:06pm On Nov 15, 2021
Bendeco02:
But Osinbajo's tribes men here will only criticize buhari and tell you how Osinbajo is the most qualified person to rule Nigeria come 2023.

I keep asking them, Is Osinbajo not part of this Government.. ?

They say that he is good, yet he has never come out to speak or criticize against any wrong move of this Government, instead he will find a way to twist some faults and give some mumu people false hope.

Apart from illiteracy, many Nigerians don't have common sense.. That's why politicians keep using their head.
Valid point!
PoliticsRe: Borno Teacher Narrates Encounter At ISWAP Checkpoint by treesun: 12:28pm On Nov 15, 2021
ISWAP now owns territory in Nigeria!
PoliticsRe: Nigeria Shatters In Buhari- Osinbajo Hands by treesun(op): 12:24pm On Nov 15, 2021
Kaiser20:
Pastor Osinbajo should just retire peacefully with his master Buhari in 2023.
Osinbajo is acting like those Nazi guys who claimed that they were only doing their jobs by supporting a Nazi regime.
If Osinbajo has integrity he would have resigned since he knows Buhari is a serial Loser.
No comment.
PoliticsRe: Nigeria Shatters In Buhari- Osinbajo Hands by treesun(op): 11:53am On Nov 15, 2021
ScamHunter:
This country will work well if only Yoruba and Fulani are in it. The two tribes work hand in glove to build and to destroy.
What do you mean?
PoliticsRe: Nigeria Shatters In Buhari- Osinbajo Hands by treesun(op): 10:28am On Nov 15, 2021
Lalasticlala.
PoliticsRe: Nigeria Shatters In Buhari- Osinbajo Hands by treesun(op): 10:27am On Nov 15, 2021
Jollylolly:
.
Space booker of Nigeria!
PoliticsRe: Nigeria Shatters In Buhari- Osinbajo Hands by treesun(op): 9:38am On Nov 15, 2021
The supposed "holiest of holy".
God have mercy!
PoliticsNigeria Shatters In Buhari- Osinbajo Hands by treesun(op): 9:24am On Nov 15, 2021
If necessity is the indisputable mother of invention, creativity is its anonymous father. Undoubtedly, the human mind is a complex mechanism. A reflection of the mind’s complexity is seen in its perpetual preoccupation with self-gratification as exemplified by biblical and quranic stories of creation.

Self-gratification towered above obedience plus penitence on the day Eden witnessed the unclothedness of Adam and Eve, and Adam hid behind a finger, ashamed to meet his Creator. Husband and wife never really said sorry for the very first sin, but both hid to preserve self-pride amid excuses.

According to the father of psychoanalytic theory, Sigmund Freud, human behaviour can be compartmentalised into three distinct boxes namely: instinct, reality and morality.

In corroboration of his belief, Freud, a Jew, unveiled to humanity the three parts of the human mind, which he explained in his Personality Theory of 1923, to include the id, the ego and the superego.

Whereas the id is the primitive and instinctual part of the mind containing sexual, impulsive and aggressive drives and hidden memories, the ego mediates between the unrealistic id and the external world, says SimplyPsychology.org, adding that the ‘superego’s function is to control the id’s impulses, especially those which society forbids. It also has the function of persuading the ego to turn to moralistic goals rather than simply realistic ones and to strive for perfection.’

I agree with psychology that human behaviour holds a mirror to the mind. However, I think only money and maybe a few other innovations attract men like the physical mirror does. Or, why, apart from greed and wickedness, did Africans sell their brothers and sisters into slavery for MIRRORS, alcohol, iron, guns, etc?

To date, egotism, a form of obsession with self, explains man’s everyday strutting before the mirror like a peacock.



When I close my eyes to imagine the reaction on the faces of African slave merchants in the slave trade era upon seeing the mirror for the first time, I see modern-day Nigerian political leaders – frenzied and convulsing at the sight of the treasury and its contents.

After the late King of Pop, Michael Jackson, released the monster-hit album, Thriller, on November 30, 1982, he worked on a perfect follow-up album six years later. And Bad was born.

In the Bad album is the song Man in the mirror, which is a call for CHANGE and the realisation that CHANGE starts with self.

Written by Siedah Garrett, a great vocalist, and Glen Ballard, an awesome composer, Man in the mirror was Jackson’s answer to personal and global turmoil, amid mounting accusations of paranoia, and worldwide agitation over hunger and war.

For Jackson, man is capable of overcoming personal and global challenges on the wings of love, determination and courage.

The blockbuster Man in the mirror features a montage of clips of children in Africa, Jesus Christ, Martin Luther King Jr, Mother Teresa, Mahatma Gandhi, Nelson Mandela, Ronald Reagan, Coretta Scott King, Bishop Desmond Tutu, Robert F. Kennedy, John F. Kennedy, kids at graduation, and other historical figures. The video also includes groups like the Nazi and Ku Klux Klan who represent the ills the aforementioned figures stood against.

In a soulful tune that witnessed many fans weeping and fainting due to sheer hysteria, Jackson, in his trademark jerry curls, uniform jacket, blings, white socks and black loafers, sings:


I’m starting with the man in the mirror

I’m asking him to change his ways

And no message could’ve been any clearer

If they wanna make the world a better place

Take a look at yourself and then make a change

I can’t avow that Nigeria’s President, Major General Muhammadu Buhari (retd.), is a Michael Jackson fan. But I can vow that the president has never heard Man in the mirror. And if he has, the president has not, in the last six years, heeded the advice given by Jackson in the song – make a change.

If the old soldier had heard and heeded the song, Nigeria wouldn’t have dropped from his old hands and smashed into smithereens of ethnic agitations, terrorism, kidnapping, strife and despair.



I’m not sure the pastoral calling of the Vice President, Yemi Osinbajo, allows for moonwalking and backsliding a la Jackson. But, I’m sure the Nigerians’ cry of agony is reaching the ears of veepee even in Aso Rock.

In 2015 and 2019, Buhari-Osinbajo stood before the mirror of the Nigerian electorate and made promises. They promised to fight insecurity and protect every Nigerian. Today, the Abuja residence of a Supreme Court judge, Justice Mary Odili, was raided – just like other midnight raids on judges across the country.

In 2015 and 2019, Buhari-Osinbajo looked in the Nigerian mirror and promised to curb corruption. Today, the Buhari-Osinbajo regime hasn’t released a cop from the North, Abba Kyari, for trial in the US over alleged complicity in multi-million dollar international fraud.

In 2015 and 2019, Buhari-Osinbajo promised to be fair to all Nigerians, irrespective of language, tribe or creed. Today, disgraced ex-acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, hasn’t been charged to court despite disturbing allegations of fraud levelled against him.

The Buhari-Osinbajo regime has yet to implement the recommendations of the Justice Ayo Salami-led panel, which probed Magu over alleged financial scandals, one year after the submission of the report.

Magu will retire early next year, lie low for some time and re-emerge to contest and win election into the Senate or Borno State Government House, where he would continue the anti-corruption war.

The toothless and barkless anti-corruption dog of the Buhari-Osinbajo regime is long dead and buried. Were it alive, it should’ve barked in Ikoyi, and bitten at Bourdillon, where bullion vans scurried an undisclosed amount of money into the villa of a kingmaker on the eve of national elections.


When Kyari was indicted in July by the FBI, I predicted that the Buhari-Osinbajo regime would defend his extradition to the death. It’s four months on, Kyari is still enjoying his freedom while the leader of the internet syndicate, Ramon Abbas aka Hushpuppi, has settled down to life in a US prison.

I believe that if the US became serious and persistent about having Kyari, an arrangee panel of inquiry will suddenly indict Kyari for snoring in his sleep and send him to jail in his Borno residence.

Nigerians are still waiting for explanations from the Buhari-Osinbajo regime as to why the Attorney General of the Federation, Abubakar Malami, withdrew the N25bn fraud case against a former Gombe Governor, Danjuma Goje, barely three weeks after the ex-governor abandoned his ambition to run for Senate presidency, and decided to endorse Senator Ahmed Lawan, who was the choice of Aso Rock.

Sadly, the country that the Buhari-Osinbajo regime is bequeathing to Nigerians in 2023 is the one that makes stealing appear highly profitable as pension rogue, Abdulrasheed Maina, gladly got eight years for a N2bn heist, knowing full well that he would spend his time in luxurious jail – before heading home to contest election.

At the beginning of 2021, I had a new year’s resolution. It’s to enter the Guinness Book of World Records. A few weeks to the end of the year, however, I’m yet to fulfil my dream. I’m looking for a tailor who can make me a babariga with the deepest pocket in the world!

The current owner of the babariga with the deepest pocket resides in a big mansion in Kano, where he holds aloft the Guinness Book of World Records for the deepest babariga pocket. He stuffs dollars in his babariga pocket, I’ll stuff some whatchamacallits into mine. At least, what is sauce for the goose is sauce for the gandollar.

https://punchng.com/nigeria-shatters-in-buhari-osinbajo-hands/
PoliticsFashola: I Don’t Know What Happened To Camera I Recovered At Lekki Tollgate by treesun(op): 11:02pm On Nov 14, 2021
The Minister of Works and Housing, Mr. Babatunde Fashola, says he does not know what happened to the video camera he recovered at the Lekki tollgate after the #EndSARS protests.

Fashola said this during an interview on Arise Television which was monitored by our correspondent.

The former governor of Lagos State, who had visited the state in October last year to assess the damage caused by hoodlums, spotted a camcorder at the toll plaza which he handed over to a government official.

The viral footage of Fashola’s “recovery” became a meme on social media and trended for several weeks.

When asked what became of the camera, Fashola responded, “You should not be asking me. You have the tapes showing that I handed it over to the government of Lagos so you have all the recordings. I think your people were there. So don’t ask me what happened to the camera. I don’t know.”

On what he thought about the struggle by the youths to take power in 2023, Fashola said youths had ruled Nigeria more than the elderly.


He recalled that during the military regime, the officers who ruled Nigeria through the 1960s and 1980s were in their 30s and 40s.



The minister argued that most of these personalities remained on the scene.
https://punchng.com/endsars-i-dont-know-what-happened-to-camera-i-recovered-at-lekki-tollgate-fashola/

PoliticsRe: FG Replies US-based Organisation, Denies Sponsoring Terrorism by treesun(op): 10:55pm On Nov 14, 2021
FarahAideed:
No mind am , he dey look for sack letter cheesy
They are deluded the way present government have run down the country negatively.
PoliticsRe: FG Replies US-based Organisation, Denies Sponsoring Terrorism by treesun(op): 5:15pm On Nov 14, 2021
LLiKYekoba:
Pains...pains..pains.. I'd like you writhe in more of it as a boko haram terrorist that you are. grin
I can not but laugh, fear is catching them all now, it is getting closer home. Lalasticlala.
PoliticsRe: FG Replies US-based Organisation, Denies Sponsoring Terrorism by treesun(op): 5:08pm On Nov 14, 2021
omenkaLives:
He misfired on this one honestly. Why do you think that thread didnt make the fp. Nairaland mods also checked and saw it was nothing but an outlandish propaganda by ipob.
You are now rejecting your Brand manager!
PoliticsRe: FG Replies US-based Organisation, Denies Sponsoring Terrorism by treesun(op): 5:01pm On Nov 14, 2021
omenkaLives:
Perhaps Lai Mohammed is the dummy people say he is.

Did he even bother to FIRST check if the so called "US based GATE organization" exists? A simple google search would have revealed to him the organization doesn't exist and the whole stuff was just cooked up by no one but Emma Powerful- a stupid and childish propaganda chief of IPOB.

The so called "Principal Advocate" Berry doesn't exist. The so called organization has no known address or website. Nothing, ABSOLUTELY NOTHING, shows the organization exists. No previous works or publications, NOTHING.

The only people that published that material were Punch and Vanguard. And this is for obvious reasons.
Either they were paid by ipob to do so, or failed to check the background of the "organization" before publishing.

Yet, Lai felt it was necessary to reply them. Epic fail I must admit.
You are blaming Papa Lai!
PoliticsFG Replies US-based Organisation, Denies Sponsoring Terrorism by treesun(op):
The Federal Government has said the allegation by a US-based non-profit organisation that the Nigerian government was sponsoring terrorism is “a disgusting distraction orchestrated by those seeking to weaken the ongoing massive onslaught against terrorism and banditry.”

The Minister of Information and Culture, Alhaji Lai Mohammed, in a statement on Sunday, said “the so-called Global Advocates for Terrorism Eradication is a pesky irritant that should be ignored, especially because it is as confused as it is irresponsible.”

He said, “This organisation called GATE is not even worth the ink with which its name is written. How can a serious organisation accuse a government that is tackling the twin evil of terrorism and banditry with uncommon determination of sponsoring terrorism?

“Is it not curious that this organisation has chosen this particular time, when terrorists are either surrendering in droves or running helter-skelter, as a result of a renewed offensive against them by the military, to orchestrate a distraction? What could be GATE’s motive if not to weaken the fight against terror and banditry?

“GATE and its sponsors should be thoroughly ashamed of themselves and should quit trying to distract our gallant troops who are doing everything possible, including making the supreme sacrifice, to keep our country safe.”

Mohammed said the fact that GATE, in making its absurd allegation, “relied on the words of a thoroughly discredited,
fake-news-peddling former Nigerian Navy intelligence officer” has shown the hollowness of its allegation.

“In the fight against terrorism, Nigeria has availed itself creditably by tackling home-grown terrorists with links to global terrorist organisations. We make bold to say that no administration in Nigeria has risen to the challenge of terrorism like the Buhari’s administration has done.



“The acquisition of a myriad of platforms, the boost to the morale of our fighting forces and the leadership provided by President Muhammadu Buhari have combined to put our gallant troops in good stead to frontally confront and put on the run the terrorists. Fittingly, Nigeria’s efforts at tackling terrorism have been hailed globally.

“What our gallant men and women need at this time is the support, encouragement and prayers of all, not the distracting antics of a relevance-seeking, feckless organisation masquerading as a terrorism eradication advocate”, he said.

https://punchng.com/fg-replies-us-based-organisation-denies-sponsoring-terrorism/
FamilyRe: FG Spends N58bn On Household Uplifting Programme In Two Months — Agency by treesun(op): 4:02pm On Nov 14, 2021
Naijanascam:
Household uplifting program grin grin grin

Tradermoni grin grin grin grin

All these with borrowed funds ba?

It's alright baa shaka grin grin
No comment. Lalasticlala
Jobs/VacanciesRe: Why Millions Of Nigerian Graduates Are Unemployed — FG by treesun: 12:58pm On Nov 12, 2021
FamilyRe: FG Spends N58bn On Household Uplifting Programme In Two Months — Agency by treesun(op): 12:57pm On Nov 12, 2021
Bola146:
cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry dear Lord...
Is that a prayer?
FamilyRe: FG Spends N58bn On Household Uplifting Programme In Two Months — Agency by treesun(op): 12:52pm On Nov 12, 2021
Lalasticlala N58BN
FamilyFG Spends N58bn On Household Uplifting Programme In Two Months — Agency by treesun(op): 12:51pm On Nov 12, 2021
The National Coordinator of the Household Uplifting Programme, Halima Shehu, says the Federal Government has paid N58bn to two million households benefitting from N10,000 bi-monthly conditional cash transfer programme across the country.

Shehu said an additional 23,134 poor and vulnerable citizens of Adamawa state were enrolled on Thursday to benefit from the Conditional Cash Transfer programme.

Speaking at the enrolment ceremony in Yola on Thursday, Shehu deplored insecurity across the country, saying it exposes the teams working on the fields to vulnerabilities.

She added that with 41,134 households already benefitting in the state, the enrolment of additional 23,134 households brings the total beneficiaries of Adamawa state to 64,268 who will be receiving N10,000 bi-monthly.

Shehu, while explaining that the programme was touching the lives of the needy and poor without any interference from any quarters, solicited that state governors play their own complementary roles and responsibilities as contained in the Memorandum of Understanding with the states.

She said, “Security challenges in the country, we are vulnerable to them. Our lives are at risk that is why we are soliciting for state governments to give us security.

“It is a job with people with faith because it is not easy to handle cash and deliver it. In the last two months, across the nation, the Federal Government of Nigeria has disbursed over N58bn for household Uplifting programme.”


https://punchng.com/fg-spends-n58bn-on-household-uplifting-programme-in-two-months-agency/
PoliticsRe: Libya Overtakes Nigeria As Africa’s Biggest Oil Producer by treesun(op): 9:18am On Nov 12, 2021
Libya who is war thorn is thriving better than Nigeria.
PoliticsLibya Overtakes Nigeria As Africa’s Biggest Oil Producer by treesun(op): 9:12am On Nov 12, 2021
Nigeria has lost its Africa’s top oil producer status to Libya as its crude oil production fell further last month amid lingering supply disruptions, according to a new report by the Organization of the Petroleum Exporting Countries.

Nigeria told OPEC that its oil output fell to about 1.23 million barrels per day in October from about 1.25 million bpd in the previous month, the cartel’s latest report released on Wednesday revealed.

Libya, which overtook Angola as the second-biggest producer on the continent in December last year, saw its oil production rise to 1.24 million bpd in October from 1.16 million bpd in September, based on direct communication, according to OPEC.

OPEC uses secondary sources to monitor its oil output, but also publishes a table of figures submitted by its member countries.

According to secondary sources, Nigeria’s production declined by 45,000 bpd to 1.35 million bpd in October from about 1.40 million bpd in September.

Nigeria recorded the second biggest drop in output in October among its peers in OPEC, after Iraq, based on direct communication. The country’s production fell the most in the month, according to secondary sources.

The 13-member oil cartel said its total crude production averaged 27.45 million bpd in October, higher by 220,000 bpd month-on-month, according to secondary sources.



“Crude oil output increased mainly in Saudi Arabia, Venezuela, the UAE, and Kuwait, while production in Nigeria, Gabon and Equatorial Guinea declined,” it said.

OPEC said crude differentials of light and medium sweet crude rose in the Mediterranean and West African markets in October on good buying interest from European buyers, strong refining margins, supply disruptions in Libya and Nigeria.

“However, soft demand from Asian refiners for Atlantic Basin crude amid unfavourable west-to-east arbitrage capped the rise. Crude differentials of Bonny Light, Forcados, and Qua Iboe rose firmly on a monthly average in October by 70¢, $1.06, and 75¢, respectively, to stand at premiums of 10¢/b, 27¢/b, and 4¢/b,” it added.

A London-based economic research firm, Capital Economics, said in a note that the increase in OPEC’s oil output in October was below its target of 400,000bpd.

“Once again, Angola and Nigeria were largely responsible for this undershoot. Operational issues brought about by a lack of investment in oil-producing facilities continue to plague output in both countries, while Nigeria is also grappling with recurring militant attacks on key pipelines,” it said.

The firm said with these issues unlikely to be resolved soon, OPEC would probably continue to undershoot its planned increases in output in the months ahead.

It said, “This will do little to alleviate the signs of undersupply in the oil market. For example, the price spreads between front-month futures and longer-dated futures are now as negative as any time in recent years, which normally indicates a lack of near-term supply.


“Despite persistently undershooting its target, we doubt OPEC will make any major changes to its output policy at its next meeting on December 2. Admittedly, external pressure on the group has continued to grow, with the US now reportedly considering a release of oil stocks from its strategic reserve.”

https://punchng.com/libya-overtakes-nigeria-as-africas-biggest-oil-producer/

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