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OPEC+ Raises Quotas Again as Middle East Calms

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OPEC Appoints Next Secretary General, Effective August 2022

Seven OPEC+ members decided on Sunday to again raise oil production quotas as Gulf countries reel from the Middle East war.

Ministers from key OPEC+ countries Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman met virtually on Sunday and “decided to implement a production adjustment of 188 thousand barrels per day,” a statement from the organisation said, adding that “this adjustment will be implemented in August 2026”.

Gulf countries had to cut output after the near-paralysis of the Strait of Hormuz orchestrated by Iran during the war in the Middle East, which blocked their oil exports for several months.

Between the first quarter of 2026 and May, combined production by Saudi Arabia, Iraq, and Kuwait — three of the seven countries raising their quotas — fell by some six million barrels per day, OPEC data have shown.
But on June 17, Tehran and Washington signed a memorandum of understanding, committing themselves to removing obstacles to maritime traffic in the Strait of Hormuz for the duration of talks following the signature.

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Giovanni Staunovo, a commodity analyst at the Swiss bank UBS, told AFP that “for now, production is probably still below” OPEC+’s targets.

Time-consuming restart
Since the memorandum of understanding was signed, ship transport in the region has slowly recovered, with oil prices dropping sharply to levels comparable to those seen before the war in anticipation of a gradual return to normal.

Oil supplies through this shipping lane may already have exceeded ten million barrels a day, according to a US official quoted by the Bloomberg agency.

But the oil currently leaving the strait has up to now been sitting in tankers or storage facilities, said Saxo Bank analyst Ole Hansen, adding that “shut-in production takes time to restart”.

“Assuming shipping continues to normalise, July will show an improvement with August probably being the month where the pickup accelerates,” he told AFP.

Cohesion at Stake

“For next year, everybody is anticipating a surplus,” Jorge Leon, an analyst at Rystad Energy, told AFP.

Rebuilding the inventories that countries tapped during the conflict should help absorb the flows at first, but producers may face a strong downward pressure on prices later on.

And OPEC+, already weakened by the departure of the United Arab Emirates from the group in May, will have to manage sliding prices while members will push for production increases.

Iraq, in particular, has asked the cartel to raise production quotas to make up for the shortfall it incurred during the war in the Middle East, the Iraqi Oil Ministry said in late June.

But Hansen said the need for a higher quota “is not imminent” as production volumes are still far from their pre-conflict levels.

“Iraq’s request may become part of the 2027 capacity review, where production baselines will be examined,” he added.

At the end of the year, the OPEC+ is indeed due to reassess members’ quotas based on their ability to produce more, which could become a thorny issue.

Courtesy – AFP

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NEWS

State Police Bill: FG Extends Deadline for Nigerians to Submit Memoranda

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The Presidential Working Group on the National Policing Bill has extended the deadline for the submission of memoranda and position papers on the proposed legislation to Friday, August 21, 2026.

The extension, announced on Thursday, is aimed at giving Nigerians, institutions and other stakeholders more time to prepare and submit substantive contributions to the proposed reform of the country’s policing architecture.

SEE ALSO: Tinubu Pushes State Police, Sends Constitutional Amendment Bill to Reps

Chairman of the Working Group and Chief of Staff to President Bola Tinubu, Femi Gbajabiamila, said the additional time was necessary to ensure broad consultation and enable stakeholders to make well-considered and technically sound contributions.

“The Presidential Working Group is committed to ensuring that the process of developing the National Policing Bill benefits from broad consultation and the informed perspectives of Nigerians and relevant stakeholders.

“The proposed legislation is intended to provide the operational, administrative, institutional and funding framework necessary for an effective policing architecture that responds to Nigeria’s evolving security needs while providing appropriate safeguards for accountability, professionalism and the protection of citizens’ rights,” Gbajabiamila said.

The Working Group had initially set August 13 as the deadline for public submissions but has now shifted it to 5:00 p.m. WAT on August 21.

Gbajabiamila urged legal practitioners, civil society organisations, security sector professionals, state governments, professional bodies, academics, experts and other interested members of the public to take advantage of the extension.

“All submissions must be made on or before 5:00 p.m. WAT on Friday, August 21, 2026, exclusively through the official National Policing Bill portal, nationalpolicingbill.com,” he stated.

According to the Working Group, the proposed legislation will address critical areas including sustainable funding, command and control structures, recruitment and training standards, operational jurisdiction, inter-agency coordination, accountability mechanisms and safeguards against political interference or abuse.

Gbajabiamila said these issues make extensive stakeholder engagement essential to producing a policing framework that is effective, accountable, sustainable and responsive to the security needs of communities across the federation.

“The Working Group recognises that developing an effective policing framework requires careful consideration of critical issues, including sustainable funding, command and control structures, recruitment and training standards, operational jurisdiction, inter-agency coordination, accountability mechanisms and safeguards against political interference or abuse.

“These considerations underscore the importance of robust stakeholder engagement in developing a framework that is effective, accountable, sustainable and responsive to the peculiar security needs of communities across the Federation,” he said.

The Working Group, inaugurated by President Tinubu to develop the legal framework for the implementation of state police, is expected to present a final, implementation-ready draft of the National Policing Bill for onward legislative processing.

The proposed bill is being developed alongside the constitutional amendment process required to establish state police, with the legislation expected to provide the detailed operational framework for federal and state policing.

 

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Cabinet Shake-Up: Okpebholo Redeploys Suspended Commissioner, Names New Portfolios

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Edo State Governor, Senator Monday Okpebholo, has reshuffled his cabinet, redeploying the suspended Commissioner for Livestock Development, Prof. Omorodion Ikponmwosa, to the Ministry of Oil and Gas.

The minor cabinet shake-up also saw two newly sworn-in commissioners assigned portfolios, while two other serving commissioners were redeployed.

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Ikponmwosa was suspended on July 19, 2026, alongside the State Project Coordinator of the Livestock Productivity and Resilience Support (LPRES) Project, Mrs. Ikpikhumi Betsy Aghaku, over what the state government described as an “official infraction.”

The government did not provide further details on the nature of the alleged infraction during his suspension.

The latest changes were contained in a statement issued by the Secretary to the State Government, Umar Ikhilor, who said the exercise was aimed at strengthening governance, enhancing efficiency and improving service delivery across the state.

Under the new arrangement, Mr. Iriabekhai Kayode Jeffery, one of the newly sworn-in commissioners, was deployed to the Ministry of Mining, while Mr. Martin Anayochukwu Oli was assigned to the newly created Ministry of Inter-Ethnic Relations.

The Commissioner for Communications, Mr. Ohimai Ehijimetor, was redeployed to the Ministry of Livestock Development.

Ikponmwosa, who previously headed Livestock Development, was moved to the Ministry of Oil and Gas, while Mr. Andrew Momodu, the former Commissioner for Oil and Gas, was redeployed to the Ministry of Communications.

The state government said the changes were made to better align responsibilities with the “respective skills, experience and competencies” of members of the State Executive Council.

Explaining the creation of the Ministry of Inter-Ethnic Relations, the government said it was established to “promote inter-ethnic and inter-community harmony, strengthen peaceful coexistence, and harness the rich and ever-evolving diversity of Edo citizens as an asset for the development and unity of the state.”

All the deployments and redeployments take immediate effect, with the affected commissioners directed to ensure seamless handover and assumption of duties.

Governor Okpebholo also urged members of the State Executive Council to bring “renewed vigour, professionalism and commitment” to their respective assignments.

According to the government, the governor expects the cabinet members to support his administration’s determination to deliver “efficient, responsive and people-centred governance” to the people of Edo State.

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N2bn Cannabis Bust: Customs Intercepts 6,035 Wraps in Ogun

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The Nigeria Customs Service (NCS), Ogun 1 Area Command, Idiroko, has intercepted and seized 6,035 wraps of cannabis sativa with a total Duty Paid Value (DPV) of N2,087,603,186.76 across different locations in Ogun State.

The Area Comptroller of the command, Olukayode Afeni, disclosed this on Thursday while handing over the seized drugs to the National Drug Law Enforcement Agency (NDLEA), Idiroko Special Area Command.

READ ALSO: Shock in Abia as NDLEA Arrests Two Grandfathers for Selling Drugs to Secondary Students

Afeni said the handover was carried out in line with standard operating procedures and the legal framework for further investigation.

He raised concern over the circulation of potent cannabis strains, particularly Ghana Loud and Colorado, warning that their smuggling could pose serious risks to young people and communities.

According to Afeni, Ghana Loud has been linked to acute psychosis, severe cardiovascular distress, rapid addiction and long-term mental health challenges.

“The high profit margin of Ghana Loud is also linked to violent criminal networks, human trafficking, and illegal proliferation of arms across the borders,” he said.

The comptroller further warned that the smuggling of cannabis and other dangerous variants to young demographics could destabilise schools and local communities.

Afeni disclosed that from January to date, the Ogun 1 Area Command had handed over 32,412 parcels of hard drugs and 92 sacks of raw cannabis sativa to the NDLEA Idiroko Special Command.

He described the fight against drug smuggling as a collective responsibility and reaffirmed the Customs Service’s commitment to securing Nigeria’s borders and protecting the future of young Nigerians.

Afeni also warned drug traffickers to desist from the illicit trade, stressing that the command would continue to intercept illegal consignments and bring those involved to justice.

Speaking on the development, the NDLEA commander, represented by Adewale Fagbohun, a Director in Narcotics, commended the Customs Service for its efforts.

He said the seizure demonstrated the diligence and resilience of Customs personnel in securing the nation’s borders and protecting society.

The NDLEA also reaffirmed its commitment to strengthening collaboration with the Customs Service and other relevant agencies to disrupt the activities of drug smugglers.

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