Nigerians can anticipate a downward reduction in petrol pump prices in the coming weeks, largely due to the increasing impact and strategic operations of the Dangote Refinery.

This projection comes from an analyst and Head, Investment Research at Comercio Partners Limited, Ifeayi Ubah, interviewed on ARISE TV on Saturday, highlighting a significant shift in Nigeria’s energy landscape.

The analyst emphasised that the Dangote Refinery’s recent price adjustments are a direct response to international market trends.

“For the Dangote Refineries slashing prices, he’s just following what the international prices are. So, we saw the international prices go down the time Danger Day slashed prices,” Ubah said in the interview.

This positive outlook is rooted in Nigeria’s evolving position within the global petroleum market. The nation is gradually transitioning from being heavily reliant on imported finished products to becoming a prominent exporter.

The strategic shift is expected to significantly reduce the drain on Nigeria’s foreign exchange reserves, which previously went towards fuel imports. The interview also hinted at another refinery, Buharabi, being established in the South-South region, which could further boost domestic supply and potentially lead to a surplus of petroleum products.

While acknowledging the inherent volatility in global energy prices, the analyst, Ubah, stressed that the long-term impact of local refining capacity would override temporary fluctuations.

This positive outlook is rooted in Nigeria’s evolving position within the global petroleum market. The nation is gradually transitioning from being heavily reliant on imported finished products to becoming a prominent exporter.

The strategic shift is expected to significantly reduce the drain on Nigeria’s foreign exchange reserves, which previously went towards fuel imports. The interview also hinted at another refinery, Buharabi, being established in the South-South region, which could further boost domestic supply and potentially lead to a surplus of petroleum products.

While acknowledging the inherent volatility in global energy prices, the analyst, Ubah, stressed that the long-term impact of local refining capacity would override temporary fluctuations.

The Kwara State Fire Service on Saturday prevented a major disaster by saving nine units of two-bedroom flats and ten shops from destruction during a fire outbreak in Ganmo, Ifelodun Local Government Area of the state.

The affected flats, located at God First Plaza, opposite the Transmission Company of Nigeria, along Ogbondoroko Road, Ganmo, were engulfed by fire in the early hours of the day.

According to the Fire Service, the fire was caused by a power surge that originated from one of the ten flats in the building.

It was further gathered that combustible materials, including mattresses and planks, inside the affected flat intensified the fire.

No lives were lost in the incident. The ten shops, which include cosmetics stores, were also saved through the swift response of the firemen, who succeeded in preventing the fire from spreading to other parts of the building.

In a statement signed by Hassan Adekunle, a Principal Fire Officer and Head of Media and Publicity on behalf of the Director of the Kwara State Fire Service, details of the incident were provided.“On Saturday, 21st June 2025, at about 06:20 hours, the Kwara State Fire Service received a distress call reporting a fire outbreak at God First Plaza, opposite TCN, Ogbondoroko Road, Ganmo, Ifelodun Local Government Area, Kwara State.

“The fire crew promptly responded and arrived at the scene to find a one-storey building housing 10 units of two-bedroom flats and 10 shops engulfed in flames.

“Undeterred, the firemen immediately swung into action, demonstrating exceptional professionalism and expertise. Their swift intervention successfully curtailed the fire, preventing it from spreading to adjacent structures.

“During the firefighting operation, a loud explosion from shattering glass startled occupants, causing them to flee the scene. Thankfully, no injuries were recorded, and all fire officers remained unharmed. Due to the firemen’s courageous efforts, only one flat was affected by the outbreak.

“Preliminary investigation revealed that the fire was triggered by a power surge. The affected flat contained numerous combustible materials, which contributed to the rapid escalation of the flames,” the statement said.

Adekunle further stated that: “The Director of the Kwara State Fire Service, Prince Falade Olumuyiwa, sympathized with those affected and urged the public to strictly observe fire safety precautions to prevent future occurrences.”

president Bola Tinubu will on Saturday, June 21, 2025, (today) attend the West Africa Economic Summit at the Bola Ahmed Tinubu International Conference Centre, Abuja.

The Economic Summit, which enters its second and final day on Saturday, precedes the 67th Ordinary Summit of the Economic Community of West African States, scheduled at the State House Conference Centre, Abuja, on Sunday, June 22, 2025.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, revealed this in a statement he signed Saturday titled ‘President Tinubu To Advance Economic Integration At The West Africa Economic Summit’.

“An initiative of President Tinubu in his capacity as Chairman of the ECOWAS Authority of Heads of State and Government, WAES is the first of its kind and is convened to deepen regional economic integration. Its strong focus is on enhancing trade and investment cooperation across the subregion,” said Onanuga.

President Tinubu had extended invitations to the Member States of the Alliance of Sahelian States and Mauritania to “demonstrate his commitment to inclusive dialogue and regional cooperation,” the statement read.

Presidents of Ghana, Liberia, Sierra Leone, Senegal, The Gambia, Benin, Togo, and Guinea-Bissau have confirmed their participation at the Economic Summit, which is expected to “yield concrete outcomes and deliverables to fast-track West Africa’s integration agenda as a critical foundation for sustainable peace, security, and prosperity in the region,” it added.

Those attending the summit are Ministers of Finance, Trade, Infrastructure, and Foreign Affairs from the ECOWAS Member States, as well as representatives from regional economic bodies such as the West African Monetary Agency, West African Monetary Institute, ECOWAS Bank for Investment and Development, the West African Economic and Monetary Union, and the African Continental Free Trade Area Secretariat.

Private sector leaders, development partners, and policy experts are also participating.

Ahead of the Summit, the President dispatched a team of Special Envoys to deliver formal invitations to Heads of State and Government across the region.

The Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, led the delegation, which included the Senior Special Assistant to the President on Foreign Affairs and International Relations, Sola Enikanolaiye.

The Chief of Naval Staff, Vice Adm. Emmanuel Ogalla, has charged personnel of the Nigerian Navy to remain professional in the discharge of their duties and remain committed to protecting the nation’s democracy.

Ogalla, represented by the Managing Director and Chief Executive Officer, Admiralty Integrated Farms Limited, Rear Adm. Julius Nwagu, gave the charge at the 2025 Second Quarter Route March on Saturday in Abuja.

He said the route march was organised as a show of force to prepare personnel to be mentally and physically fit.

According to him, it is aimed at developing personnel physical and mental alertness to meet the dynamics of contemporary security operations as well as fostering esprit de corps and providing an avenue for relaxation.

“I enjoin you to be more professional in the conduct of your duties and day activities.

“Furthermore, I encourage you not to engage in any act of misdemeanor or take laws into your hands that could bring the service into disrepute in the course of your duty.

“Furthermore, I charge you all to show dedication to duty and unflinching support to our democracy and constituted authority,” he said.Ogalla pledged his commitment to continue to support the personnel by providing all the required needs to function optimally in the area of their responsibilities.

He said the Nigerian Navy was also a major contributor to the Gulf of Guinea maritime security arrangement, as well as a major participant in internal security duties all over the country.

This, he said, made it imperative for them to be mentally and physically fit at all times.

“Thus, the exercise and physical training remain the bedrocks of naval personnel’s daily mental and physical readiness for sea show and ashore duties. It is pertinent to state that the commitment of the Nigerian Navy towards enhancing mental and physical fitness has yielded dividends.

“This has been witnessed with the sterling contributions of the Nigerian Navy to national security, peace and prosperity. It is in recognition of this fact and the desire of the service to keep the personnel physically fit that the route march, amongst other physical fitness exercises, is sustained in the Navy schedule of events.

“As you are aware, the Nigerian Navy has just concluded Operation Obangame Express. “The exercise was aimed at partnering with regional and global maritime stakeholders on the security of maritime domain awareness of littoral states within the African continent,” he added.

The Minister of the Federal Capital Territory, Nyesom Wike, on Thursday left many Nigerians amused after he publicly promised to increase the wages of his official music band during a project commissioning in Abuja.

Wike made the announcement while commissioning the newly completed collector road from Mabushi to the Judges’ Quarters in Katampe, a project executed by a Chinese construction firm.

Midway into the event, the band’s lead singer entertained the crowd with a hilarious twist, mimicking a song in what appeared to be ‘Chinese’, in a nod to the nationality of the contractors.

Impressed by their performance, the Minister announced that he would increase their wages.

“Now that my band can sing in Chinese language, I’ll now increase their fees,” the minister said, drawing laughter and applause from the crowd.

Shortly after his statement, the band broke into another tune, chanting, “Agreement is agreement,” repeatedly calling Wike’s name before ending with the phrase “Chi hu chan.”

The Minister of Foreign Affairs and Chairman of the Economic Community of West African States Council of Ministers, Ambassador Yusuf  Tuggar, has warned against continued economic dependence on former colonial powers.

Tuggar gave the warning at the opening ceremony of the 94th ordinary session of the Council of Ministers on Thursday in Abuja.

The two-day session is focused on deepening economic integration and tackling key developmental challenges in the West African subregion.

Addressing ministers and delegates gathered, Tuggar stated, “For newly independent African countries, if you stay alone and isolated from your neighbours, you remain dependent on the former colonial master, forever consigning yourself to being an exporter of agricultural cash crops and raw materials to the metropolis.”

The chair urged West African nations to reclaim control of their destinies through regional trade, joint infrastructure, and collective self-reliance.

“Conversely,” he continued, “if you trade freely with your neighbours, develop infrastructure jointly to strengthen that trade, you develop indigenous industries, collective self-reliance, and take control of your destinies.”

The minister reminded delegates of the ideological roots of ECOWAS and similar African regional blocs, noting that they were “borne out of our yearning for economic decolonisation and not the other way round.”

The minister called on member states to revisit the founding purpose of ECOWAS, not simply as a bureaucratic institution but as a revolutionary response to the structural limitations imposed by colonial legacies.

As ministers prepared to deliberate on a broad agenda covering trade, infrastructure, health, education, agriculture, and institutional reform, Tuggar urged a collaborative spirit.

“I invite us all to approach our discussions with an ethos of collegiality, compromise, and flexibility with a broader vision for a strong, united, and resilient Regional Economic Community,” he said.

“This session should be defined not only by the depth of our deliberations,” he added, “but also by the courage of our decisions.”

In his opening address, the President of the ECOWAS Commission, Dr. Omar  Touray, acknowledged ongoing institutional efforts to advance regional integration and presented key agenda items for the session, including trade liberalisation, industrial development, and responses to emerging global economic shifts.

Touray drew particular attention to the persistent issue of non-tariff barriers, describing them as a “perennial obstacle to boosting regional trade, investment, industrialisation, competitiveness, and economic growth of our region.”

“In May, I travelled by road from Lagos to Cotonou to see the situation along the regional corridor and the joint border post established at the Seme/Krake border between Nigeria and Benin. I saw firsthand the challenges posed by non-tariff barriers along the corridor.

“We must do everything to put an end to this and facilitate economic exchange across the region,” he said.

The session is reviewing recommendations from the recent Joint Meeting of ECOWAS Ministers of Trade and Industry.

Among the proposals are the adoption of a regional Trade and Investment Promotion Strategy and accelerated ratification of key agreements, including the WTO Fisheries Subsidy Agreement and the African Continental Free Trade Area.

Also under review is a proposed Cooperation Agreement between the ECOWAS Regional Competition Authority and Member States to enforce competition and consumer protection rules.

Touray urged countries to act swiftly, saying, “The ministers have considered the Cooperation Agreement between ERCA and member states… and requested member states to take necessary measures for its signature by the end of June 2025.”

On inter-regional and international trade, he said ministers also discussed the West Africa–European Union Economic Partnership Agreement and implications of new US tariff policies.

“The ministers recommended further national consultation with key stakeholders, in particular the private sector, to propose a way forward,” he added.

Addressing regional peace and security, the ECOWAS commission president announced a shared understanding with Burkina Faso, Mali, and Niger to tackle terrorism and violent extremism together.

“We have secured an understanding with Burkina Faso, Mali, and Niger on the need to work together to build confidence to collectively confront terrorism and violent extremism,” he said.

He also shared updates on dialogue with Guinea. “With Guinea, discussions have resumed on political transition, and we are working to create the right environment for the people of Guinea to determine the political future of their country,” Touray noted.