Business
Nigeria’s crude oil production increased to 1.3m barrels in July – OPEC

Nigeria’s crude oil production in July rose to 1.307 million barrels of crude oil daily.
This is according to July’s monthly oil market report released by the Organisation of Petroleum Exporting Countries, OPEC.
The figure showed Nigeria added 30 thousand barrels daily production when compared to the production figure for last month which stood at 1.276 million barrels daily in June 2024.
The data on Nigeria’s crude oil production is based on direct communication with Nigerian authorities.
Meanwhile, according to secondary sources, Nigeria’s daily average crude oil production in June was 1.386 million barrels per day which indicates an increase of 16,000 barrels compared to May’s figure of 1.369 million bpd.
Going by the report, Nigeria has maintained its position as Africa’s largest oil producer, with Libya following closely, producing 1.175 million bpd in July.
Meanwhile, the production figure is still a far cry from the 1.5 million crude production quota set for Nigeria by OPEC.
The development comes as the Nigerian government, through the Nigerian National Petroleum Company Limited, NNPCL, targets two bpd at the end of December 2024.
Business
MTN under attack as hackers breach network
MTN Nigeria on Friday, April 25, confirmed that it was recently targeted in a cyber attack but has moved to calm concerns, assuring customers, partners, and stakeholders that its key systems and customer data were not compromised.
The telecoms giant in a statement released on Thursday, April 24, revealed that it had detected unauthorized activity within its network, and had acted swiftly to isolate and neutralize the threat.
The Chief Executive Officer of MTN Nigeria, Karl Toriola disclosed that the attackers had sough to disrupt operation, but their attempts were unsuccessful.
He emphasized that the incident did not affect Nigeria specifically, and critical infrastructure, including customer information and core business functions, remained secure.
“We take cybersecurity very seriously and have robust systems in place to detect, isolate, and neutralize threats. Although this attack attempted to breach our defenses, our security protocols worked as intended, and our core infrastructure remains secure,” Toriola stated.
The telecom giants did not however reveal the nature or origin of the cyberattack on its systems, cybersecurity analysts warn that telecom companies across Africa are becoming prime targets for cybercriminals. This growing threat is linked to the sector’s vast subscriber base and the continent’s rapidly expanding digital economy.
An internal source within MTN confirmed that the breach did not affect operations in Nigeria, reinforcing the company’s earlier statement that local infrastructure and services remain intact.
The attack comes at a time when Nigeria is accelerating its digital transformation agenda, an ambitious effort that places increased responsibility on service providers to strengthen their cybersecurity protocols.
MTN has pledged to work closely with cybersecurity experts and government authorities to conduct a thorough investigation of the incident. The company also affirmed its commitment to bolstering its systems and defenses to prevent future breaches and safeguard customer trust.
Business
Air Peace to resume flight operations nationwide

Air Peace has said that it will resume flight operations on Friday following suspension of strike by the Nigerian Meteorological Agency (NiMET) workers.
The airline’s Head of Corporate Communications, Dr Ejike Ndiulo, made the disclosure in a statement on Thursday night in Lagos.
According to Ndiulo, Air Peace is grateful to its customers and the general public for patience, understanding and support throughout the period of the strike.
”Your resilience and trust in our brand mean the world to us
“We commend the active and decisive intervention of the Minister of Aviation and Aerospace Development, Mr Festus Keyamo (SAN), whose leadership and commitment were pivotal in resolving the impasse and restoring normalcy within the aviation industry,” Ndiulo said.
He noted the minister’s swift engagement with aviation stakeholders, his transparent approach and his dedication to the stability and progress of the aviation sector.
According to him, Keyamo’s efforts not only facilitated timely resolution of the industrial dispute but also underscored his broader vision for a safer, more efficient and investor-friendly Nigerian aviation industry.
Ndiulo reaffirmed Air Peace’s commitment to providing safe, reliable and world-class services.
NAN reports that NIMET workers on Thursday shelved the strike which began on April 22 following Keyamo’s intervention.
The workers downed tools in protest of alleged poor working conditions, including non-implementation of the 2019 Consequential Adjustment to the National Minimum Wage (affecting at least 30 staff).
They are also demanding a 25/35 per cent salary increase, 40 per cent hardship/peculiar allowance, and annual staff trainings.
Keyamo had promised to find lasting solutions to the problems.
Business
BREAKING: Air Peace suspends flight operations nationwide

Air Peace Ltd. has announced the suspension of all flight operations nationwide due to the ongoing strike embarked upon by the Nigerian Meteorological Agency (NiMET).
This is contained in a statement signed by the Head of Corporate Communications, Air Peace, Dr Ejike Ndiulo, on Wednesday in Lagos.
According to Ndiulo, the decision is necessary because NiMet is the agency responsible for issuing CNH (Current Nowcast of Hazardous Weather) reports, critical for safe landings, especially during this season of heavy rainfall and thunderstorms.
He said without these reports from the control tower, flight safety could not be guaranteed.
“As a safety-first airline, we have chosen to act responsibly by suspending operations until NiMet resumes full service.
“We understand this may cause inconvenience, and we sincerely apologise. Passengers will be contacted with updates and options for rescheduling,” he said.
The staff of NiMET on Tuesday commenced an indefinite strike over the condition of service and other demands.
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