By Kayode Sanni-Arewa

The latest data by the National Bureau of Statistics (NBS) on the foreign trade statistics, said the increase was from N7.51trn recorded in 2023.

The development comes despite current increasing domestic refining capacity, especially at the 650,000 barrels-per-day Dangote Refinery and the ongoing rehabilitation of state-owned refineries.

In December 2024, the Nigeria National Petroleum Company Limited (NNPCL) announced the restart of the 125,000 barrels per day (bpd) Warri Refinery and Petrochemical Company (WRPC), which was approved for rehabilitation in 2021 for $897 million.

The Port Harcourt Refining Company (PHRC), with a total installed capacity of 210,000bpd, recently restarted operations at its old plant, which currently produces 60,000bpd.

Nigeria spent N2.01trn on fuel imports in 2020. By 2021, this figure more than doubled, rising by 126.9% to N4.56trn, indicating a sharp increase in import dependence and global price fluctuations. The upward trend continued in 2022, with import costs jumping by 69.1% to N7.71 trillion, driven by rising crude oil prices and Nigeria’s inability to refine a significant portion of its fuel needs locally. In 2023, petrol import expenditure recorded a marginal decline of 2.6% to N7.51 trillion, suggesting a temporary easing, possibly due to factors such as forex adjustments and lower global oil prices.

However, riding on the back of a 40.9% depreciation of the naira, 2024 saw a 105.3% increase to N15.42 trillion, the highest on record.

Despite the rise in local refining, production remains insufficient in meeting demands, necessitating continuous dependence on importation.

Supply chain inefficiencies, and persistent demand-supply imbalances, Foreign exchange fluctuations, among other factors, have also militated against meeting local demands, as the rising cost of petrol imports continues to strain government finances and consumer purchasing power.

Nigeria operates four national refineries: one in Kaduna, one in Warri, and two in Port Harcourt.

By Kayode Sanni-Arewa

Nasir Ahmad El-Rufai, a former Kaduna State Governor, has officially resigned from the All Progressives Congress (APC) and joined the Social Democratic Party (SDP).

El-Rufai, in a resignation letter submitted on Monday to his ward in Kaduna State, cited irreconcilable differences with the ruling party’s leadership, after which, expressed disappointment with the party’s trajectory in recent years

“I have diligently served the APC and made my contributions to its viability as a political platform,” he stated. “However, developments in the last two years have confirmed a troubling disregard for democratic principles and progressive values that I hold dear.”

The former APC chieftain was founding member of the party and played a key role in securing electoral victories for the party in 2015, 2019, and 2023.

El-Rufai, while reflecting on his tenure as Kaduna governor, highlighted his administration’s focus on human development, education, healthcare, infrastructure, job creation, and investment.

He added that his decision to part ways with the APC was due to growing concerns about governance and internal party dynamics.

“At this point in my political journey, I must seek another political platform for the pursuit of the progressive values I cherish,” he said.

Announcing his move to the SDP, El-Rufai expressed gratitude to his mentors, colleagues, and supporters, reaffirming his commitment to advancing democratic principles.

“As a member of the SDP, I am committed to fostering a unified democratic platform to challenge the APC in upcoming elections

By Kayode Sanni-Arewa

The government of Kogi State has announced the passage of a statesman and former deputy governor, Chief Patrick Adaba.

Adaba passed on at the age of 79.

The Kogi State Commissioner for Information and Communications, Kingsley Femi Fanwo, in a statement, expressed profound sorrow over Adaba’ death, noting that he, exemplified exceptional leadership, service, and a steadfast dedication to the advancement of both Kogi State and Nigeria.

Late Adaba served as Deputy Governor under the late Governor Abubakar Audu, demonstrating integrity, patriotism, and an unwavering commitment to the State’s development.

“His contributions to governance, his statesmanship, and his role in shaping the early foundation of Kogi State will never be forgotten.

His passing is not only a loss to his family, the Ebira nation and his political associates, but also to the entire state and the nation at large. We will forever remember his selfless service, his passion for the people, and the legacy he leaves behind.

“On behalf of the Government and the good people of Kogi State, His Excellency Alhaji Ahmed Usman Ododo, the Chief Servant of Kogi State, extends his deepest condolences to the Adaba family, the people of Kogi State, and all who were touched by Chief Adaba’s life and leadership.

“He fuelled his dream of a great Kogi State with an unblemished patriotism and great service to our dear state in and out of office as we continued to consult him to tap from his wealth of experience. He will be sorely missed.

“We pray that the Almighty grants his soul eternal rest and gives his family the strength to bear this great loss.

“We pray that his legacy continues to inspire generations to come,”