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China’s BYD Surpasses Tesla In Annual Revenue

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BYD Surpasses Tesla

China’s BYD Surpasses Tesla In Annual Revenue

China’s BYD surpasses Tesla in annual revenue. Chinese automaker BYD saw a significant revenue surge in 2024, surpassing the $100 billion mark and outperforming Tesla, according to a stock filing on Monday.

BYD, the dominant player in China’s competitive electric vehicle market, reported a record revenue of 777.1 billion yuan ($107.2 billion) for 2024—exceeding Tesla’s $97.7 billion. This marks a 29% increase from 2023 and surpasses Bloomberg’s forecast of 766 billion yuan.

BYD Surpasses Tesla

BYD Surpasses Tesla

The company also achieved a record net profit of 40.3 billion yuan, a 34% rise from the previous year. Its stock price hit an all-time high this month following the unveiling of a new battery technology, which enables a vehicle to travel up to 470 km after just five minutes of charging.

BYD’s latest battery system offers a charging speed of 1,000 kW, outpacing Tesla’s 500 kW Superchargers, further solidifying its competitive edge in the EV industry.s Tesla in Annual Revenue

Economy

Governor Okpebholo Unveils 3,000 Hectares for Farming in Edo

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Edo

Governor Okpebholo Unveils 3,000 Hectares for Farming in Edo

Governor Okpebholo unveils 3,000 hectares for farming in Edo. The Edo State Government has launched a large-scale farming initiative, starting with the cultivation of 3,000 hectares across the state’s three senatorial districts.

Governor Monday Okpebholo kicked off the project with the clearing of 60 hectares in Iguoriakhi, Ovia South West LGA, as part of efforts to boost food production.

Governor Okpebholo

Governor Okpebholo

Okpebholo emphasized that the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda for food security. He affirmed plans to replicate similar farm settlements in Edo Central and Edo North.

Dr. Osagie Peter, Permanent Secretary of the Ministry of Agriculture, revealed that about 250 farm heads will benefit from the first phase.

The Iguoriakhi Farm Settlement, originally established in 1962 with 2,350 hectares, already hosts permanent crops like oil palm and rubber.

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Crime

Labour Unions Threaten Strike, Seeks Reversal Of Emergency Rule In Rivers

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Tinubu To Reverse Rivers Emergency Rule

Labour Unions Threaten Strike, Seeks Reversal Of Emergency Rule In Rivers

Labour Unions threaten strike, seeks reversal of Emergency Rule in Rivers. The organised labour has warned of potential nationwide disruptions if the Federal Government does not reverse the state of emergency declared in Rivers State.

In a joint statement, the Rivers State leaders of the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), and Joint Negotiation Council (JNC) condemned the emergency rule, calling it illegal and undemocratic.

They argued that suspending Governor Siminalayi Fubara, Deputy Governor Ngozi Odu, and House of Assembly members was unconstitutional and undermined democracy.

The unions also highlighted the financial hardship faced by local government workers, many of whom have not received salaries due to the crisis. They warned that Rivers State’s economic instability could have severe consequences for Nigeria, given its strategic role in the nation’s economy and the Niger Delta region.

NLC

NLC

Furthermore, they pointed out that the uncertainty has deterred potential investors, weakening the state’s internally generated revenue (IGR) and affecting job creation.

While acknowledging the need for security, the unions insisted that governance must align with constitutional principles.

They urged the Federal Government to prioritize citizens’ welfare over political interests, warning that continued hardship could escalate tensions and resistance.

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Economy

Reps: 39 Constitutional Amendment Bills Scale Second Reading

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Reps

Reps: 39 Constitutional Amendment Bills Scale Second Reading

Reps: 39 constitutional amendment bills scale second reading. Thirty-nine constitutional amendment bills have scaled second reading in the House of Representatives. The bills cut across various sectors including judicial reforms, electoral matters security and policing, inclusive governance, legislature, and others.

Some of the proposals include:

A bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999, to provide for the establishment of state police and local government police.

A bill for an Act to alter the provisions of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), to provide that general elections to the office of the president, state governors, National Assembly, state Houses of Assembly, and local government area councils shall be conducted simultaneously on the same date to be determined by the Independent National Electoral Commission in consultation with the National Assembly.

A bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999, to make the Court of Appeal the final appeal court in governorship, national, and state Houses of Assembly election petitions.

Reps

Reps

A bill for an Act to alter the Constitution of the Federal Republic of Nigeria, cap. c23, Laws of the Federation of Nigeria, 1999 (power of proclamation of new Assembly by Clerk or NASS/Clerk of House Assembly) and to make provision for the Chief Justice of Niger to make proclamation on the inauguration of National Assembly.

A bill for an Act to alter the provisions of the Constitution of the Federal Republic of Nigeria, 1999 to establish the FCT House of Assembly.

A bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999 (as altered), to provide for special seats for the physically challenged persons in Nigeria’s federal, state, and local government areas, and legislative houses.

A bill for an Act to alter the Constitution of the Federal Republic of Nigeria 1999 to permit public servants to engage in healthcare education, production, and services beyond farming and related matters.

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