Daily Watch – Dangote Refinery further reduces price, Ghana’s EC declines results declared under duress

20th December 2024

The Oyo State police have confirmed the death of 35 minors from Wednesday’s stampede at a children’s funfair in Ibadan. Premium Times reported the stampede at Basorun Islamic High School. The Oyo government had confirmed many deaths, mostly children, in the stampede. On Thursday, the police confirmed that 35 minors died while six others were left critically injured and on various medical interventions. The Oyo police spokesperson, Adewale Osifeso, who confirmed the deaths, also confirmed the arrest of eight suspects.  In a statement, Mr Osifeso said the investigation had been transferred to the Homicide Section of the State Criminal Investigation Department, Iyaganku, with the Deputy Commissioner of Police leading it. In a statement, President Bola Tinubu directed the relevant authorities to investigate the circumstances of the tragedy thoroughly. 

Dangote Refinery announced a price reduction from  ₦970 per litre to  ₦899.50 per litre for marketers. The company’s Group Chief Branding and Communication Officer, Anthony Chiejina, disclosed this in a statement on Thursday. The company said the reduction was designed to ease transport costs during the festive period. “To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on Premium Motor Spirit (PMS). From today, our petrol will be available at  ₦899.50 per litre at our truck loading gantry or SPM,” Mr Chiejina said. Furthermore, he said that for every litre purchased on a cash basis, consumers can buy another litre on credit backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.

Ghana’s Electoral Commission (EC) has firmly stated that it will not validate results declared under duress or without adherence to proper collation processes as enshrined in the law. Addressing the media on Thursday, on controversies surrounding results from nine outstanding constituencies, EC Chairperson Jean Mensa condemned the actions of political party supporters who disrupted collation activities at constituency centres during the 7 December polls. Madam Mensa noted that collation processes across all centres were proceeding following the provisions of Constitutional Instrument (C.I.) 127 until violent disruptions occurred. The EC Chairperson disclosed that some staff faced threats of death and were coerced into declaring results without following due process. “Those declarations, as well as others that have gone on in other constituencies, will not be upheld by the Commission,” the EC Chairperson stated.

South Africa’s state utility, Eskom, reported a staggering R55 billion ($3 billion) loss for the fiscal year ending March 2023, largely due to a one-off charge linked to the separation of its transmission unit. However, the embattled utility is optimistic about its future, forecasting a profit of over R10 billion for the fiscal year ending March 2025. The company attributed its losses to underperforming coal power stations, unsustainable debts, escalating municipal arrears, and inadequate tariffs. Despite these challenges, revenue rose by 14% to R295.8 billion for the year ending March 2024. However, sales volumes dropped 3% due to 329 days of scheduled power cuts—commonly known as load-shedding—which have long stifled South Africa’s economic growth. In a surprising turnaround this year, Eskom’s supply stabilised, with no power cuts reported for the past nine months, sparking optimism for economic recovery.