Nigeria’s petrol import bill fell significantly in the first quarter of 2025, dropping to N1.76tn from the N3.81tn recorded in the same period in 2024, representing a difference of over N2tn.

According to the latest foreign trade statistics report released by the National Bureau of Statistics, this represents a 54 per cent year-on-year decline.

The sharp fall also reflects a 47 per cent reduction from the fourth quarter of 2024, when petrol imports stood at N3.3tn. The decline has been largely attributed to increased domestic supply from the Dangote Petroleum Refinery, which has been ramping up operations in the country.

The refinery’s growing contribution is beginning to displace foreign petrol suppliers and reduce Nigeria’s long-standing dependence on imported refined fuel. A five-year trend analysis shows a steady rise in petrol imports until 2024. In Q1 2020, petrol imports stood at N732bn, rising to N1.29tn in Q1 2021 and more than doubling to N2.69tn in Q1 2022.

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Although the figure slightly dipped to N2.03tn in Q1 2023, it spiked to an all-time high of N3.81tn in Q1 2024. The sharp reversal in 2025 to N1.76tn marks a return to pre-2022 levels and signals a possible structural shift in the country’s petroleum trade dynamics.

The report also shows that petrol was Nigeria’s most imported product from ECOWAS countries in Q1 2025, accounting for N89.18bn or 44.51 per cent of all imports from the region.

It also represented 41.86 per cent of Nigeria’s total imports from West Africa and 11.63 per cent of imports from the entire African continent.

Despite gains in local refining, these figures indicate that regional trade routes remain crucial in meeting domestic fuel demand, especially as full local sufficiency is yet to be achieved.

Other notable petroleum-based imports from the ECOWAS region during the quarter included gas oil (N23.15bn) and petroleum bitumen (N20.58bn), further highlighting the sector’s influence on Nigeria’s trade profile.

Petrol also featured among the top five most imported commodities nationwide, alongside gas oil, crude petroleum oils, cane sugar for refining, and durum wheat.

The NBS report read, “The most traded commodities imported during the quarter were, Gas oil, Motor spirit ordinary, Petroleum oils and oils obtained from bituminous minerals, crude, Cane sugar meant for sugar refinery, and Durum wheat (Not in seeds).

The declining import trend corresponds with the growing influence of the Dangote Petroleum Refinery, which is currently producing around 85 per cent of its 650,000 barrels per day installed capacity.

The refinery’s entry has created greater competition in the downstream market, with petrol retail prices in Lagos dropping to as low as N860 per litre in early 2025.

However, operations at the facility have faced early challenges. In March, Dangote Refinery temporarily suspended local currency sales due to difficulty in sourcing foreign exchange, as the refinery purchases crude oil in dollars but receives payments in naira.

The Federal Government has since stepped in to resolve the naira-for-crude bottleneck, allowing the refinery to continue the deal and reducing Nigeria’s reliance on petrol imports.

The President of the Dangote Group and founder of the Dangote Petroleum Refinery, Aliko Dangote, earlier said that there would be an announcement of what he called a major ‘shakedown’ in the entire country soon.

Dangote said this was not about price reduction, but the complete overhaul of the downstream sector. He stated this in an interview with newsmen following the recent visit of President Bola Tinubu to the $20bn refinery in Lekki, Lagos.

Asked to mention the ‘big thing’ he had in store for Nigerians with the refinery, Dangote replied, “Now that the President has visited and he has given us additional energy, we will inform you, you will hear from us soon, and that will be one of the major shakedowns in the entire country. It is not the reduction of price, it will be the total overhaul of the downstream.”

Dangote, who refused to let the cat out of the bag, noted that the company would go on a “massive trajectory” with the refinery.

“I told the President that he had not seen anything yet, we are going on a massive trajectory, much more than what you have seen here. If you come back in the next five years, the refinery will be on the back burner,” he stated

The businessman also restated that the refinery would be listed on the stock exchange market, starting with the fertiliser company this year. Dangote noted that the refinery offered extensive benefits to the Nigerian economy and its people, declaring that the days of long fuel queues were over in Nigeria.

“We remain steadfast in our commitment to contributing meaningfully to Nigeria’s economic transformation, supporting your administration’s efforts to build a self-reliant, globally competitive nation. We have remained Nigeria’s highest tax-paying company. With continued collaboration and shared resolve, we are confident that the journey ahead will usher in even greater opportunities for our people and our country,” Dangote said.

An operative of the Osun State Amotekun Corps, Sheriff Ogundiran, has been announced to have collapsed in his house while preparing for work and was later confirmed dead minutes later.

The spokesperson for the corps, Yusuf Idowu, during an interview with PUNCH Metro on Thursday, explained that Ogundiran suddenly took ill at home and could not be revived.

Idowu said Ogundiran, who until his death, served as the Provost of the B Division at the Ila-Orangun Command, “collapsed unexpectedly and was later confirmed dead,” noting that the death left a profound void within the corps and the larger security community in Osun State.

In a condolence message signed by the Osun Amotekun Corps Commander, Mr. Adekunle Omoyele, in Osogbo, the organisation condoled with the late Ogundiran’s family, friends, colleagues, and the entire community of Ila-Orangun.

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Describing the deceased as a disciplined, loyal, and tireless operative, Omoyele further said, “Sheriff Ogundiran was more than just an operative; he was a pillar of our operational command structure and a proud son of Osun who served with unwavering dedication to the security of our people. 

Osun Amotekun operative slumps, dies while preparing for work

Nigeria have retained their position as the highest-ranked women’s football team in Africa, following the latest FIFA Women’s World Ranking published on June 12, PUNCH Sports Extra reports.

Despite a marginal increase of just 0.8 points, which saw them rise from 1622.49 to 1623.29 points, the nine-time African champions remain the continent’s best, holding firm at 36th in the world.

The rankings reflect matches played since the last update on March 6, 2025, in which Nigeria didn’t play any game but returned for two games against Cameroon in the May-June international window, recording one win and cancelling the other.

South Africa continues to trail Nigeria as the continent’s second-best side, ranked 54th globally with 1488.49 points. However, Banyana Banyana dropped 1.57 points from their previous tally of 1490.06, despite an impressive four-match winning streak.

Morocco, one of Africa’s best performers at the 2023 FIFA Women’s World Cup, dropped eight points to settle at 1419.63, falling to 60th in the global standings.

Cameroon made the most notable progress among African teams, despite losing their only game in the last international window to Nigeria. The Indomitable Lionesses climbed two places up to 64th with a 7.3-point increase to 1396.2.

Zambia, who continue to show promise on the continental stage, slipped slightly to 65th after losing 4.67 points. The Copper Queens’ recent form has been patchy, drawing twice and losing twice.

Ghana and Côte d’Ivoire remain unchanged in terms of points, each holding steady at 66th and 72nd, respectively. Both nations had mixed results, with Ghana recording a loss and a draw, while the Ivorians claimed a win and a draw.

Further down the African rankings, Mali (78th), Senegal (81st), and Algeria (82nd) all recorded no points change, each drawing all their fixtures in the match window.

Globally, the United States remain top despite a recent defeat to Brazil. Spain and Germany are closing in, while Brazil’s resurgence, including a victory over the Americans, has propelled them to fourth place. Egypt, Africa’s biggest climber, moved up seven places to 93rd, marking the most significant leap in the global rankings.

The next FIFA Women’s World Ranking update is scheduled for August 7, 2025, 10 days after the 2024 Women’s Africa Cup of Nations while the men’s ranking is scheduled to be officially released by the global governing body on July 10, 2025.

A political economist, Professor Pat Utomi, has called for the restructuring of Nigeria before the 2027 general election.

Utomi made this appeal while speaking at the June 12: Annual Democracy Day National Dialogue in Ikeja on Thursday.

DAILY POST reports that the programme, which was organised by the June 12 Pro-Democracy Movement of Nigeria, is themed: ‘Democracy Without a Democratic Constitution: Which Way for Nigeria?’

According to Utomi, Nigeria’s democracy would be strengthened with total restructuring. “The agitation for total restructuring through will stabilize and advance democracy in the country.

“This is because the present democracy is not the type of democracy Chief Abiola sacrificed his life for,” he said.

The political economist stated further that the present political and economic structure of the country, and “the unworkable 1999 constitution” were a big challenge for democracy.

He urged all Nigerians to accept restructuring as a vehicle for deepening democracy and strengthening the country.

According to him, President Bola Tinubu would win the confidence of the electorate if he listened to the agitations of Afenifere, Ohanaeze and other ethnic groups on restructuring.

Utomi urged Nigerians to guard democracy jealously and be wary of anti-democracy forces and their agents in the country

A former Chairman of the Independent National Electoral Commission, INEC, Attahiru Jega, says professors have constantly rejected bribes offered to them by politicians during elections

Jega defended the inclusion of academics in the conduct of Nigeria’s elections, saying they have brought integrity into the electoral process.

Jega stated this on Thursday during the June 12, Democracy Day edition of The Platform, a socio-political programme hosted by a Lagos-based church, Covenant Nation.

Recall that Jega, an academic and former vice-chancellor of Bayero University, Kano, began the deployment of university professors and vice-chancellors as returning officers and ad hoc staff during elections when he served as the chairman of INEC between 2010 and 2015.

According to him, the fact that one or two professors have been prosecuted for electoral offences should not rubbish the hard work and integrity that academics have brought into Nigeria’s electoral processes.

“Election was terrible by the time we came to INEC. I was lucky, I was a co-chairman of the Committee of Vice Chancellors before I went to INEC.

“So, I used the vice-chancellors to help us get academic staff with good, transparent selection criteria, which they vouch for. That’s how we started using academic staff during elections.

“Up till 2015, in fact after the 2011 elections, the NBA (Nigerian Bar Association), and the NSE (The Nigerian Society of Engineers), all came and said they wanted to participate in the elections but we said: ‘Look, when you are doing something and it works, why change it?’

“So, we stuck with the professors, and I can tell you frankly, the level of integrity they brought to the election (is unmatched).

“A vice chancellor who has served 35 years in the university system, who has a few years to retire, a substantial overwhelming majority of them are not going to damage their integrity that they built over the years on the matters of election,” he said

The youth arm of the Idoma apex socio-cultural group, Ochetoha K’Idoma, has distanced itself from a rally held in support of President Bola Tinubu and Governor Hyacinth Alia in Makurdi on Thursday.

Daily Post reports that while victims of Fulani herdsmen attacks are languishing in hospitals and families of the deceased are mourning, a group of Benue State youths and women on Thursday staged a rally in Makurdi to support the present administration.

The youths, under the aegis of pro-Tinubu/Alia support groups, stormed major streets of Makurdi, the Benue State capital, drumming support for second terms for President Bola Tinubu and Governor Hyacinth Alia.

They brandished placards with inscriptions such as: ‘Tiv, Idoma, Igede support Tinubu’, ‘Idoma, Tiv, Igede Youths are proud of you Alia’, and ‘No Alia, No Benue’, among others.

Reacting to the rally, the President of the Ochetoha K’Idoma youth wing, Comrade Mike Magaji, said no Idoma person was part of the rally.

He described the demonstrators as “hired hungry people” who were paid to launder the image of President Tinubu and Governor Alia.

Speaking with Daily Post on Thursday evening, Magaji said the Idoma people are mourning their loved ones murdered by herdsmen and can never be part of any rally in support of those who failed to protect them.

He said, “We can never be part of such a shameful outing. Those were hired hungry people who were paid to launder the image of Mr President and Alia.

“It is a shame. So, we, Idoma youths, disassociate ourselves from any support group. We were not part of it and can never be part of any rally in support of those who have failed to protect us.

“It would be stupid to think that we would support someone who is not protecting our lives and property

Dangote Sugar Refinery Plc recently appointed Mr Arnold Ekpe as the new Chairman of its Board, effective 16th June 2025.

Ekpe’s appointment comes after the retirement of Alhaji Aliko Dangote as Chairman of the company on Wednesday.

Dangote’s retirement brought an end to a 20-year leadership of the company.

His retirement will take effect starting from June 16, this year, according to a statement issued yesterday by Company Secretary Temitope Hassan.

However, DAILY POST brings you seven things you need to know about Dangote’s replacement, Arnold Ekpe:

1. Ekpe is a seasoned finance professional with more than thirty years of experience in the corporate sectors and banking.

2. He was born in Aug. 1953 in Nigeria, and went to King’s College, Lagos, where he graduated in 1972 and later traveled to abroad for his tertiary education.

3. Ekpe attended the University of Manchester and earned a First Class Honours degree in Engineering as a Shell Scholar (1973–1976).

4. He later obtained an MBA from Manchester Business School (1977–1979).

5. Ekpe started his career in 1977 with Schlumberger SA as a Wireline Logging Engineer.

6. He joined Alcan Aluminium Nigeria as Executive Assistant to the CEO in 1979.

7. Ekpe then entered the banking industry in the early 1980s, starting at International Merchant Bank (an affiliate of First Chicago) as Head of Strategy.

8. He later became Group CEO of Ecobank Transnational Incorporated, a role he held until his retirement in 2012.

9. He has served as an Independent Non‑Executive Director at Dangote Sugar Refinery since 2024.

Former Vice-President Atiku Abubakar has accused the present administration of dismantling the gains of June 12, saying that “those who laid down their lives did not do so for Nigerians to groan under the yoke of authoritarianism and economic suffocation.”

Atiku in a post on his social media platforms also said the ongoing process by opposition figures to form a coalition will defend the legacies of the June 12 struggle.

According to the Presidential candidate of the Peoples Democratic Party (PDP) in the last election, “What we are witnessing is not governance, it is conquest.”

The opposition leader said, “The gains of June 12 were hard-won. But sadly, the democratic promise that blossomed in 1999 is being steadily dismantled before our very eyes. 

“Today, Nigeria teeters on the edge of a dangerous precipice—a creeping one-party dictatorship is replacing the democratic order we bled for. Those who laid down their lives did not do so for Nigerians to groan under the yoke of authoritarianism and economic suffocation.

“The ruling party and its federal government now govern with the unmistakable intent to dominate, subdue, and silence. Their tactics are not subtle. Opposition voices are being systematically erased. Contracts for multi-billion-naira infrastructure are funnelled to cronies and family associates of the president.

“National institutions, once symbols of unity, are being brazenly renamed in honour of a sitting president, as though the country were a private estate.”

The former Vice President also lamented that the present government “represents the lowest ebb in our democratic journey. Institutions have been weaponized. Policies are crafted not to empower the people but to entrench fear, obedience, and control. The common Nigerian has been abandoned at the altar of elite comfort. And make no mistake: this is the antithesis of everything June 12 stands for.

“We are again at a historic threshold. Nigeria must choose: the path of democratic renewal or the dark alley of despotism.”

According to him, the ongoing effort to “build a broad, united opposition front is not about power for power’s sake. It is a moral imperative. It is about defending the legacy of June 12. It is about ensuring that no one, no matter how powerful is allowed to privatize the state and reduce the people to pawns in their political chess game.

“It is about reclaiming Nigeria for Nigerians and safeguarding the future of generations unborn.

“This is not just a political contest; it is a moral crusade. A struggle to liberate our economy, our democracy, and our dignity from the grip of authoritarian forces. And like every righteous struggle, it demands courage, clarity, and collective resolve. As long as oppression thrives, June 12 lives on, not just as memory, but as movement. The time to rise is now.”

Recalling the ideals of June 12, Atiku said thirty-two years ago, Nigeria stood on the cusp of greatness and the winds of democratic change were sweeping through Africa, adding that all eyes turned to our nation with hope, hope that Nigeria would rise as a beacon of liberty, justice, and self-determination

Nigeria Governors’ Forum (NGF) on Thursday said the platform is committed to working with every stakeholder to widen the democratic space and make Nigeria more fertile for inclusive prosperity.

In a statement commemorating the June 12 Democracy Day, the Forum congratulated Nigerians on the journey so far.

“On behalf of my colleagues at the Nigeria Governors’ Forum (NGF), I congratulate all Nigerians on the commemoration of Democracy Day,” according to the statement signed by Governor AbdulRahman AbdulRazaq.

“June 12 is a watershed in our national history. We therefore join President Bola Ahmed Tinubu, GCFR, and other stakeholders to honour our heroes and heroines who played significant roles in the struggle for democratic rule.

“The last 26 years of unbroken democracy have seen appreciable progress in different areas of our national life. Notwithstanding the progress, our nation — like every other human community — has its challenges and aspirations. Together, we can leverage constructive dialogue and all other democratic mechanisms to engage one another for better outcomes.

“As leaders of our people, we commit ourselves to working with all stakeholders, including the Federal Government, civic organizations, and other partners, to widen the democratic space and make our country more fertile for sustainable peace and inclusive prosperity. Happy Democracy Day!”

Presidential Candidate of the Labour Party (LP) in the 2023 election, Peter Obi, says President Bola Ahmed Tinubu has been driving democracy backward as the system has been in recession since he took over two years ago.

He said this on Thursday in a statement titled ‘Democracy in Decline: Reflecting on Two Years of Tinubu’s Governance

The former Anambra State governor said after a comprehensive look at the two-year reign of President Tinubu, it is safe to conclude that a lot is not right in governance and policy delivery of the administration.

Obi rated the Tinubu-led All Progressives Congress (APC) administration low in virtually all indices of governance including corruption, prudence, economy insecurity and politics, during the period under review.

He urged the President to stop touring outside Nigeria and use his remaining two years to tour the 36 Nigerian states instead.

“Mr. President you have already made over 30 international trips, spending nearly 150 days abroad. If you tour Nigeria’s 36 states and dedicate just 2 days to tour each state, it would take only 72 days for you to do so, less than half the time you have already spent in other areas of the country on foreign trips. You need to go around the country to see,” Obi said.

Addressing the challenge of deepening democracy, Obi urged President Tinubu, “to emulate late President Umaru Yar’Adua, who was honest enough to admit the process that brought him into office was wrong and not sufficiently credible,’ and insisted on rapidly doing what is right to save our democracy.”

He also recalled that former President Goodluck Jonathan saved the democracy by accepting defeat even before the election result, announced in the dark.

He said, “We must end this troubling governance era that is filled with impunity, state capture, and absolute disregard for the rule of law and the checks and balances required of any worthwhile democracy.

“In our present state, our dear country, Nigeria, cannot be justly classified as a democratic country. The vital indications of democracy are noticeably absent. Some do not even exist.

“Democracy is said to be ‘a government of the people, by the people, and for the people,’ yet none of these three measures exist in our democracy today.

“Rules, regulations and requirements to participate in elections or be elected for are not followed, consequently, individuals who are to be disqualified ab initio are now holding, including public offices.”

He said it is most troubling that in its two years in office, the present government has brought the nation to the point where the leaders now celebrate and endorse failure, lies, and propaganda. 

Obi said, “The government today, rather than show genuine accountability and measurable progress, focuses on manipulating narratives, gaslighting the public, shifting blame and weaponizing governance.

“Nigerians live in a worsening and worrisome insecurity, widespread corruption, hunger, and general despondency. There are no clear benchmarks for measuring tangible development, as we continue to witness the collapse of key indicators, like education, healthcare, and poverty alleviation, which are presently measuring national progress.

“Our country today can best be described as a nation declining fast in all its facets. The security of lives and property ty has worsened, and the rule of law is virtually non-existent.

“These are the hard-verifiable facts: “On May 29th, 2023, when the organisation was sworn into office, Nigeria’s Gross Domestic Product (GDP) stood at $364 billion. As of today, it has declined to $188 billion, a decline of almost fifty per cent (50%).

“Nigeria’s GDP per capita was $1,640 as of May 2023, but today it has dropped drastically to about $835, a devastating decline of about 50%. Nigerians living in multi-dimensional poverty increased from 38.9% to 54% within this period, with about 129 million Nigerians now living below the poverty line.

“The World Bank reported recently that 75% of Nigerians in rural areas now live in poverty as of 2025, and even more than previously recorded in the urban areas.

“Today, more than 18.3 million Nigerian children are out of school, the highest number in the world. The quality of education in Nigeria is also deteriorating rapidly. Many of our children are being taught sciences without any science labs and computer studies without any computers.

“Students are now writing WAEC and other national exams in the dark, relying on candles. There are now even glitches in their exams.”

Obi said that on healthcare services, the situation has worsened drastically as “the National Primary Health Care Development Agency decried that less than 20% of over 30,000 Primary Health Care Centres across the nation are fully functional.

He said, “I have even, recently visited some Health centres where delivery rooms were without toilets. The United Nations recently reported Nigeria as the world’s worst country to give birth, with one death recorded every seven minutes. Ditto Nigerian businesses that have continued to collapse at alarming rates.

“Within the past two years, approximately 7 million Small and Medium Enterprises (SMEs) shut down across Nigeria. Over 80 manufacturing companies have permanently closed their operations. Funding costs, including the cost of raw materials and energy, have surged to an incredible level, forcing these manufacturers to shut down.

“Over 15 major multinationals (including GlaxoSmithKline, Diageo, Procter & Gamble, and Shoprite) have exited Nigeria due to the harsh operating environment.”

He added, “The hunger crisis arising from food insecurity has deepened in these 2 years. Based on the Global Hunger Index (GHI) report, Nigeria’s hunger situation has taken a hit, as we are now one of the hungriest countries in the world. Millions can no longer afford food due to the high costs of food and nonexistent disposable income.

“Our national population is experiencing a mental health crisis as the mental health and stress levels in this period have increased drastically. Nigeria is now one of the top three (3) most successful organisations in the world.

“Fifty-nine per cent of the organisation’s population is under daily stress. Mental health experts and advocates have warned that the present situation in Nigeria is having extremely adverse effects on the population as it contributes to anger, anxiety, and depression levels in the country.

Obi noted that despite the trillions of naira purportedly saved from the removal of fuel subsidy (a policy initially justified as a means to curb borrowing), this government has, within two years, borrowed far more money than the administrations of President Umaru Yar’Adua, President Goodluck Jonathan, and President Muhammadu Buhari combined.

He said, “Today, Nigeria’s overall public debt is estimated at close to N188 trillion. Nigerians were informed that these borrowed funds would be allocated to critical sectors of development. Still, there has been no significant improvement in education, healthcare, or poverty alleviation; critical sectors that are vitally important for national development.

“Brazen Corruption is at its worst under this administration. Nigeria has now become a crime scene. Now our national budget is routinely inflated and padded without consequences. One of the most glaring manifestations of this is the extensive padding of the 2025 national budget. BudgIT revealed that about N7 trillion was questionably inserted by the National Assembly. These figures suggest a pattern of inflated costs and misappropriation of funds