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US seizes sanctioned oil tanker off coast of Venezuela
Washington, Dec. 11, 2025 – US forces intercepted and seized a sanctioned oil tanker off the coast of Venezuela, marking a serious escalation of tensions between the two countries. “We’ve just seized a tanker on the coast of Venezuela — large tanker, very large, largest one ever seized, actually,” President Donald Trump said at the White House. “And other things are happening.” A senior Trump administration official referred to the ship as “a stateless vessel” that was last docked in Venezuela. Bloomberg News was first to report the seizure. The …
ECOWAS to abolish air ticket taxes from Jan. 1, 2026
Abuja, Dec. 11, 2025 – The Economic Community of West African States Commission (ECOWAS) is to abolish air ticket taxes in the sub-region from January 1, 2026. Chris Appiah, the ECOWAS the Director of Transport and Telecommunications, disclosed this on Wednesday while speaking to journalists in Abuja He said this was one of the decisions of the regional body to enhance regional integration by reducing the high costs of flights which had long been a barrier to trade and economic integration. Appiah said the sub-region had the most expensive …
Federal Reserve cuts interest rates by 0.25%
Washington, Dec. 11, 2025 – The Federal Reserve cut interest rates by 25 basis points at the conclusion of its two-day meeting on Wednesday, marking the central bank’s third cut of the year. Fed officials were split on the decision to lower rates to a range of 3.50%-3.75%, with policymakers dissenting on both sides. Chicago Fed president Austan Goolsbee and Kansas City Fed president Jeff Schmid favored holding rates steady, while Fed governor Stephen Miran favored a 50 basis point rate cut. U.S stocks rallied in the wake of the …
Naira slides at official market Wednesday, closing N1,458 to dollar
Lagos, Dec. 11, 2025 – The Nigerian currency, the Naira, depreciated at the official foreign exchange market on Wednesday, closing at N1,458 to the dollar. The currency depreciated from N1,454 to the dollar on Tuesday, losing N4.00 to the dollar. The naira had stabilised at N1, 458 to the dollar at the official market in the last three trading days. Bid rates quoted by dealers in the market on Wednesday ranged between N1,453.76 and N1,458 to the dollar. Meanwhile, the naira is being traded at the black market in …
NNPC E&P Limited hits record 355,000 bpd production
…Nigeria’s Energy Revival Already Happening, Says Ojulari Abuja, Dec. 10, 2025 – NNPC E&P Limited (NEPL), the flagship upstream subsidiary of NNPC Limited, achieved a record production level of 355,000 barrels of oil per day On on Dec, 1, 2025,, its highest daily output since 1989. This was disclosed in a statement signed by Andy Odeh, the NNPC Chief Corporate Communications Officer The milestone marks a significant step forward for Nigeria’s upstream sector and reflects the company’s ongoing transformation anchored on efficiency and discipline. The figures show genuine transformation: …
Oil steady as market watches Ukraine peace talks, Fed rate decision
Singapore, Dec. 10, 2025 – Oil prices held steady on Wednesday after falling about 1% in the previous session, as investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates. Brent crude futures were up 19 cents, or 0.3%, to $62.13 a barrel at 0645 GMT. U.S. West Texas Intermediate crude was at $58.44 a barrel, up 19 cents, or 0.3%. “Oil markets are currently struggling for direction as far as we can see, with a minor lift from falling U.S. inventories as …
NNPC, Heirs Energies strike deals to curb emissions, boost energy
Lagos, Dec 10, 2025 – Nigeria’s Heirs Energies and state oil firm NNPC said on Wednesday they had signed agreements with five investors to capture and monetise gas that would otherwise be wasted through flaring, where the fuel is burned in the open. Nigeria holds Africa’s largest proven gas reserves and is betting on gas to drive industrial growth and cut emissions. Its Decade of Gas policy aims to boost domestic supply, reduce flaring and expand LNG exports. But recent World Bank data show flaring rose 12% in 2024, …
US container imports drop 7.8% in November amid demand slump
Los Angeles, Dec. 10, 2025 – U.S. container imports fell 7.8% in November from the year earlier, due to soft demand for goods from China and one less day in the Thanksgiving holiday month, supply chain technology provider Descartes Systems Group said on Tuesday. Seaports handled 2,183,048 20-foot equivalent units (TEUs) of imports in November, in line with normal seasonal drops. Still, it was the fourth-strongest November on record – trailing 2020, 2021 and 2024 – despite trade policy and economic uncertainty. Imports from China fell 19.7% year …
ECOWAS, coup contagion and Nigeria’s C-130 saga
By Paul Ejime Abuja, Dec. 10, 2025 – The Economic Community of West African States (ECOWAS) on Tuesday, 9 December, declared a state of emergency across the region, the first time since the regional bloc was formed in May 1975. The President of the ECOWAS Commission, Dr Omar Touray, announced during the 55th Session of the Mediation and Security Council at the ministerial level in Abuja, saying that “recent developments underline the imperative of serious introspection on the future of our democracy and the urgent need to invest in …
Oil edges down with Ukraine peace talks, US rate decision in spotlight
Singapore, Dec 9, 2025 – Oil prices edged down on Tuesday, extending losses from the 2% drop in the previous session, with markets keeping a close eye on peace talks to end Russia’s war in Ukraine, concerns about ample supply and a looming decision on U.S. interest rates. Brent crude futures were down 7 cents, or 0.1%, to $62.42 a barrel at 0717 GMT. U.S. West Texas Intermediate crude was at $58.75, down 13 cents, or 0.2%. Both contracts fell by more than $1 a barrel on Monday after Iraq …