Persistent weaknesses in offshore crude production which left output below the level on which the 2026 federal budget was set out, has brought Nigeria’s fiscal position under pressure despite a strong rally in international oil prices.

MoneyAfrica shed light on this in its newsletter on Monday, asserting that Nigeria produced an average of 1.505 million barrels per day of crude oil in July, which industry figures aver is marginally above her Organisation of the Petroleum Exporting Countries (OPEC) production quota of 1.50 million bpd for the third consecutive month.

However, July output was 4 percent lower than in June, reflecting technical disruptions at some offshore oil fields.

MoneyAfrica said while the performance signals an improvement from the severe production losses Nigeria experienced in previous years, it remains insufficient to meet the government’s revenue plans.

When condensates are included, total liquids production averaged 1.67 million bpd in July, well below the 1.84 million bpd benchmark used in the 2026 budget.

The volume gap has remained a central risk to public finances throughout the year, constraining the amount of oil available for export and limiting the government’s capacity to convert stronger global prices into a material revenue windfall.

Crude prices have, nonetheless, provided an important cushion. Escalating tensions in the Middle East have supported global oil markets, pushing Nigeria’s realised crude prices to around 29 percent above the budget benchmark of $64.85 per barrel.

“This suggests gross oil revenue during the first half of the year may have exceeded the budgeted level in nominal terms, even with production running below target.

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Yet the higher-price environment has primarily neutralised the effect of lower export volumes instead of creating meaningful additional fiscal headroom.

Nigeria is therefore still exposed to a reversal in global prices, while its production base remains vulnerable to operational disruptions, infrastructure constraints and delayed investment”, the newsletter read.

The challenge is reflected in the government’s reported $2.49 billion oil-revenue shortfall in the first half of 2026. That underperformance, MoneyAfrica, said, feeds directly into the fiscal deficit and could increase the government’s financing needs, placing further pressure on domestic borrowing costs and public debt metrics.

The administration has intensified efforts to attract investment into oil and gas, particularly deep-offshore projects that could help rebuild output over the medium term.

Measures include tax incentives intended to improve project economics, unlock capital and shorten the path to final investment decisions.

The government has set an ambition to raise production towards 3 million bpd, but the scale of capital expenditure, technical work and infrastructure improvements required means the target is unlikely to be achieved quickly.

MoneyAfrica said, “For now, Nigeria is producing enough crude to comply with its OPEC quota, but not enough to deliver the oil volumes embedded in its own budget. Until offshore operations are stabilised and new investment translates into sustained barrels, higher crude prices will offer only a temporary buffer rather than a durable solution to the country’s fiscal vulnerability”.

Afrobeats star, David Adeleke, popularly known as Davido, has refused to apologise to Edo State Governor, Monday Okpebholo, over his social media post displaying the governor’s alleged West African Examinations Council result.

Davido insisted that he did nothing wrong by sharing the result, saying he was only informing people in Edo State about the academic record of their governor.

The singer made this known in an exclusive interview with News Central on Tuesday in Osun State.

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He said, “I’m not going to apologise. I didn’t do anything wrong. I was just telling people of the state the results their governor has.”

The controversy followed comments by Okpebholo during political activities ahead of the August 15 Osun State governorship election.The Edo governor had mocked Osun State Governor, Ademola Adeleke, over his penchant for dancing while campaigning for the All Progressives Congress governorship candidate, Bola Oyebamiji, popularly known as AMBO.

Okpebholo had said, “Before somebody signs paper, he will dance. Are you not tired? For four years, this man has been dancing. Before he takes breakfast, before he drinks tea, he will dance.”

Davido, who is Adeleke’s nephew and actively campaigned for his uncle, subsequently shared what appeared to be Okpebholo’s WAEC result on his Instagram Story on Friday.

The post, which had no caption, sparked reactions on social media, with Tugbiyele later describing it as inappropriate and disrespectful.

Responding to calls for an apology, Davido defended his action and accused Okpebholo of leaving Edo State to attack his uncle in Osun.

He said, **“Yes, and you came, you left your state, you came to another state. You came in and then started talking that my uncle is a dancer; he is not serious.

“The road to your Government House is not done. My uncle is not serious. First of all, you were not even elected; you were selected.”**
The singer further questioned Okpebholo’s understanding of electoral victory, saying,

“You don’t know what it means to win an election. That’s why you could go there and talk.”

Davido also criticised the governor over his comments about Adeleke and expressed sympathy for Okpebholo’s children.

He said, “I feel so bad for his kids. Because you see what my dad is doing. Do you understand? Yeah, you’re abusing a sitting governor in his own state.”

The singer also mocked Okpebholo over his reported stay in a hotel and warned that Adeleke would respond politically when the time came.

Davido said, “In fact, finish your three years, we’ll visit you when it’s time for you to get re-elected.”

Earlier, Tugbiyele had called on Davido to apologise to Okpebholo, arguing that the singer should not have personally responded to the Edo governor’s comments about Adeleke.

Tugbiyele said, “I watched a video when Governor Okpebholo called the governor of my state, Adeleke, the dancing governor. And the governor’s relation, David Adeleke, replied by publishing the WAEC Secondary School leaving result of Governor Okpebholo, the governor of Edo State.”

He acknowledged that the alleged result might not have been impressive but said it was inappropriate to use it to ridicule the governor.

He said, “The result is not good enough, but it’s possible. The governor did a resit. We are not aware of that, but I think Davido, David Adeleke’s publication is inappropriate.”

Tugbiyele concluded with a direct appeal to the singer, saying, “Davido, David Adeleke, please, as a proper Yoruba, please apologise to Governor Okpebholo. God bless you, David. God bless Nigeria.”

The Kano State Government has banned patent medicine stores across the state from administering intravenous (IV) fluids and conducting blood transfusions.

The directive was announced by the Acting Executive Secretary of the Kano State Private Health Institutions Management Agency (PHIMA), Khadijah Hussein-Sa’id, during a sensitisation workshop for proprietors and medical directors of private health facilities in Kano.

Hussein-Sa’id said patent medicine stores are legally classified as non-clinical retail outlets and are not authorised to perform invasive medical procedures, administer IV fluids or conduct blood transfusions.

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She explained that the directive was introduced to protect residents from unsafe and illegal medical practices and strengthen the regulation of private health facilities in the state.

“Any patent medicine store or unauthorised facility found administering IV fluids or conducting blood transfusions will face immediate closure and other sanctions in accordance with relevant laws and regulations,” she warned.

The acting executive secretary said IV fluid therapies and blood transfusions must only be carried out in accredited health facilities under the supervision of qualified medical professionals.

She urged residents to remain vigilant and report patent medicine stores and other unauthorised facilities engaging in the prohibited practices.

According to her, complaints can be submitted directly to the PHIMA office at Magaji Rumfa, with supporting evidence such as photographs, receipts or other proof of the services provided.

Hussein-Sa’id said PHIMA would continue to strengthen the regulation of private health institutions and take decisive action against unsafe, illegal and unhygienic medical practices.

She also urged operators of private health facilities to comply with the directive and adhere to approved standards to enhance healthcare delivery across the state.