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Finally, British economy enters recession

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Britain has entered recession after recording two successive quarters of negative economic growth in the second half of last year, official data showed on Thursday.

Gross domestic product shrank by 0.3 per cent in the fourth quarter of 2023 after contracting 0.1 per cent in the previous three months, the Office for National Statistics said in a statement, meeting the technical definition of a recession.

According to BBC, the UK is considered in recession if GDP falls for two successive three-month periods – or quarters.

The figures will be a blow to Prime Minister Rishi Sunak. Growing the economy was one of five pledges he made in January 2023.

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In 2020, Britain’s economy contracted by a record 20.4 per cent in the second quarter with the country in lockdown over the coronavirus pandemic, official data had shown.

It is clear that the UK is in the largest recession on record,” the Office for National Statistics said then.

Meanwhile, in December 2023, Britain’s economy unexpectedly shrank in the third quarter, official data showed, raising fears of a potential recession before an election due next year (2024).

Gross domestic product contracted 0.1 per cent between July and September, down from a prior estimate of zero growth, the Office for National Statistics said in a statement.

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President Xi Mourns Former President Muhammadu Buhari

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…say his death is a great loss for Nigeria-China

By Gloria Ikibah

Chinese President Xi Jinping has expressed his condolences to President Bola Tinubu and the Nigerian people following the death of former Nigerian President Muhammadu Buhari.

In a message sent on Wednesday, Xi conveyed “deep condolences” on behalf of the Chinese government and its people, offering heartfelt sympathy to Buhari’s family and the government of Nigeria.

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Xi described Buhari as a “respected statesman” who worked tirelessly to strengthen Nigeria’s unity and development. 

“He dedicated himself to finding a development path suited to Nigeria’s national conditions and made outstanding contributions to the country’s progress,” Xi said.

According to him, “Buhari earned wide respect across the international community”.

The Chinese leader also praised Buhari’s role in fostering stronger Nigeria-China ties, and noted that the former president was a steadfast friend of China and a firm supporter of China-Africa cooperation. 

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“His death is not only a great loss for the Nigerian people but also for the Chinese, who considered him a dear friend,” Xi said.

President Xi reaffirmed China’s commitment to its relationship with Nigeria, as he said Beijing is ready to continue working closely with Abuja to advance their comprehensive strategic partnership.

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Crude Oil: Nigeria hits OPEC 1.5Zmb/d production quota

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Nigeria’s crude oil production soared a little above 1.5 million barrels per day in June, hitting the required quota by the Organization of the Petroleum Exporting Countries (OPEC).

Data sourced from OPEC’s latest Monthly Market Oil Report (MOMR) for June noted that the country’s oil production hit 1.505mb/d in June 2025 from 1.453mb/d recorded in May 2025.

However, the output was still below the targeted 2.06mbpd projected in the 2025 budget.

According to OPEC’s data, this is the first time the country’s production output would meet the 1.5mb/d cuts quota in years.

Nigeria’s output had hovered at 1.1mb/d in 2023, 1.3mb/d in 2024, and then 1.4mb/d since January 2025.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, recently said Nigeria was ramping up production with a medium-term goal to hit 2.06 million barrels per day by 2027.

He expressed optimism that oil output would rise to 1.9mbpd in December this year.

“We have started growing. In March, we were producing about 1.56 million barrels per day, and we’re now at 1.63 million, including condensates. By the end of the year, we are hoping to clock 1.9 million barrels daily,” he said.

Ojulari said Nigeria had recorded a 100 per cent availability on major crude oil pipelines in the country.

He noted that for the first time in a long while, the nation enjoyed 100 per cent crude oil pipeline availability throughout June.

According to him, the feat, which was possible through the industry-wide security interventions led by the NNPC, aided the increase in oil production.

However, he called for more investments to boost production, adding that the company had been able to turn the narrative around by consistently meeting its cash-call obligations to Joint Venture operations. With the current state of oil pipelines, experts expect a further rise in oil production in the coming months.

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Just in: 151 police officers in trouble over alleged misconduct

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The Nigeria Police Force has began disciplinary proceedings against 151 senior officers over various allegations of misconduct and ethical breaches, in a move to reinforce accountability and professional discipline within its ranks.

The review commenced on Monday, July 14, and will conclude on Friday, July 25, 2025, at the IGP Smart Conference Hall, Force Headquarters, Abuja.

The officers, selected from commands and units nationwide, are appearing before the Force Disciplinary Committee (FDC) over alleged violations ranging from professional misconduct to breaches of internal regulations.

The Force Disciplinary Committee is the police’s internal body responsible for investigating cases involving senior officers from the rank of Assistant Superintendent of Police (ASP) upwards.

It plays a vital role in reviewing accusations, assessing evidence, and recommending appropriate sanctions in accordance with existing police laws and disciplinary frameworks.

Final decisions regarding the officers’ futures will be forwarded to the Police Service Commission.

In a statement issued by the Force Headquarters, Inspector-General of Police, Kayode Adeolu Egbetokun, reaffirmed his administration’s zero-tolerance stance on indiscipline. He emphasised the importance of internal accountability in enhancing public confidence and promoting a more professional police force.

“The Nigeria Police Force will not condone any form of misconduct or ethical breaches. This disciplinary process underlines our commitment to maintaining a culture of integrity and respect for the rule of law,” the IGP stated.

The statement further emphasised that the disciplinary review is part of the force’s ongoing reforms aimed at restoring public trust, enhancing service delivery, and ensuring that police officers uphold the highest standards of conduct.

Olumuyiwa Adejobi, Force Public Relations Officer, who signed the release, said the disciplinary exercise demonstrates the IGP’s resolve to build a disciplined and responsive policing institution. (The Guardian)

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