• Burkina Faso, Mali and Niger set to exit ECOWAS by January 2025
• Dangote Refinery boasts of exporting its petrol to more African countries
• NERC reports that electricity subsidy rose to ₦2.4 trillion in 2024
• Nigeria clears ₦85 billion and $54 million ECOWAS levy nearly after two decades
• Dele Farotimi hit with ₦500 million lawsuit by another SAN

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

Burkina Faso, Mali and Niger set to exit ECOWAS by January 2025

Burkina Faso, Mali and Niger have announced their decisions to exit the Economic Community of West African States (ECOWAS) organisation from January 29,  2025.

The news was broken to the members of the ECOWAS at the 66th heads of state and governments in Abuja, Nigeria.

The three West African countries are under the ruler of each country’s military leaders, and ECOWAS published a statement acknowledging the exit of the countries from the organisation.

“The authority takes note of the notification by Burkina Faso, the Republic of Mali and the Republic of Niger of their decision to withdraw from ECOWAS. The authority acknowledges that in accordance with the provisions of Article 91 of the revised ECOWAS treaty, the three countries will officially cease to be members of ECOWAS from 29 January 2025,” the statement reads in part.

Dangote Refinery boasts of exporting its petrol to more African countries 

Dangote Refinery announced its exportation of petrol and diesel to more African countries, namely South Africa, Ghana, Cameroon and Angola.

Dangote Refinery has been busy since it announced its refinery’s commencement and its oil exportation to Nigerians and neighbouring African countries.

The Vice President of Oil and Gas Dangote Industries Limited, Devakumar Edwin, revealed this while hosting a delegation from the Japanese Business Community in Nigeria.

“Recently, we’ve exported petrol to Cameroon, Ghana, Angola, and South Africa, among others. Diesel has gone worldwide, and jet fuel is heavily exported to European markets. Our products are already making their mark internationally,” Edwin said.

NERC reports that electricity subsidy rose to ₦2.4 trillion in 2024

The Nigerian Electricity Regulatory Commission (NERC) revealed that despite its actions to combat the rise in electricity subsidy, it still recorded about ₦2.4 trillion expended on it.

The NERC introduced the increment in Band A customers’ fees, yet it has recorded spending more on the subsidy (₦2.4 trillion) than the previous year (₦650 billion).

The report is a staggering difference from the estimated ₦1.14 trillion payment expected to be reduced from the FG’s spending on electricity; however, the reasons for the rise in electricity subsidy were attributed to the foreign exchange instability and macroeconomic shocks.

Nigeria clears ₦85 billion and $54 million ECOWAS levy nearly after two decades

Nigeria has regained its pride by clearing the ₦85 billion and $54 million ECOWAS levy for 2023 and part of 2024.

Omar Touray, president of the ECOWAS Commission, praised the action at the 66th ordinary summit, calling the payment “a vote of confidence” in the organisation.

The payment was made on December 13, 2024, proving Nigeria’s commitment to the organisation and a show of support for ECOWAS’ development.

Dele Farotimi hit with ₦500 million lawsuit by another SAN

Nigerian author and activist Dele Farotimi has been hit with a ₦500 million defamatory lawsuit by another SAN identified as Olu Daramola.

Olu Daramola, a Senior Advocate of Nigeria (SAN) and partner of the Afe Babalola, accused Dele Farotimi of alleged defamation in his new book, ‘Nigeria and its Criminal Justice System’.

The ₦500 million lawsuit was filed less than a month after Chief Afe Babalola (SAN) filed a lawsuit over similar and alleged defamatory words in Farotimi’s book.