• Thursday, November 30, 2023
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Five things to know to start your Monday


Kogi guber poll: INEC declares APC Ododo winner with 446,237 votes

Ahmed Usman Ododo of the All Progressives Congress (APC) sweeps Kogi governorship election, emerging victorious with 446,237 votes.

The Independent National Electoral Commission (INEC) announced the results on Sunday, following the collation process at the State Collation Centre in Lokoja, with Johnson Urama, Deputy Vice Chancellor Academics at the University of Nsukka, serving as the state returning officer.

Amidst the charged atmosphere, characterised by the participation of 18 parties, political analysts had pinpointed a three-way contest between Ahmed Usman Ododo (APC), Dino Melaye of the Peoples Democratic Party (PDP), and Yakubu Murtala of the Social Democratic Party (SDP).

Read more:Kogi election result: INEC declares Ododo winner of governorship contest with 446,237 votes

Dangote refinery secures 300,000bpd crude refining licence

Africa’s wealthiest individual, Aliko Dangote, announced that his refinery has secured a licence to process over 300,000 barrels of Nigerian crude daily.

The refinery, initially set to start in August, will begin processing gasoline soon, prioritising supplying Nigeria before exporting to the West African region.

While the Nigerian National Petroleum Company Limited trades crude on behalf of Nigeria, Dangote’s refinery will also receive crude from other Nigerian producers.

Nigeria recently increased its oil output to 1.49 million barrels per day, the highest in nearly two years.

FG targets 1.9m bpd, intensifies fight against oil theft

Bello Matawalle, the Nigerian Minister of State for Defence, has reported significant progress in the fight against oil theft in the Niger Delta region.

Oil production has risen from 1 million barrels per day to 1.7 million barrels per day due to government actions and military efforts against oil thieves.

The government aims to reach 1.9 million barrels per day by the year’s end. Investments in modern weapons and military equipment, along with training programmes, are strengthening Nigeria’s defence capabilities.

NNPC resumes 275,000 bpd production

Following a peace agreement facilitated by the Nigerian National Petroleum Company Limited (NNPC Ltd.) between TotalEnergies, PENGASSAN, and NUPENG, an ongoing industrial action has been suspended.

This move results in the immediate restoration of 275,000 barrels per day of oil production.

The parties, including TotalEnergies and the union representatives, committed to resolving all issues through an agreed framework in a negotiation session chaired by NNPC Ltd.’s Executive Vice President, Oritsemeyiwa Eyesan.

Hyundai Motor breaks ground on $1.5 billion EV plant in South Korea

Hyundai Motor commenced the construction of a $1.52 billion dedicated electric vehicle (EV) plant in South Korea, signifying its commitment to EV production.

The plant in Ulsan, set to be completed in 2025, will have an annual capacity of 200,000 units, with the first model being an electric SUV from the Genesis luxury brand.

Hyundai aims to launch 31 EVs by 2030. The groundbreaking follows Hyundai’s U.S. EV and battery plant construction and is in contrast to some rivals scaling back EV production due to lower demand.