Business
Cabotage Fund: Minister Orders NIMASA to Disburse N14bn
The Minister of Transportation, Alhaji Ibrahim Isa Bio has ordered the management of the Nigerian Maritime Administration and Safety Agency (NIMASA), to disburse the Cabotage Vessel Financing Fund (CVFF) to local ship owners.
Bio, who gave the order at the 2009 Annual press briefing of his ministry in Abuja directed NIMASA to disburse the over N14 billion to indigenous ship owners before December 2009.
According to him, the disbursement of the fund will address some of the critical challenges facing the ship owners.
Government, he said, was addressing the challenge through the cabotage regime, which has been in operation since 2005. He noted that the cabotage vessel financing fund (CVFF) had already generated over N14 billion, and modalities are being worked out for the disbursement of the fund to assist indigenous shipping.
Bio, however, said that a total of 183 vessels have added to the Nigerian ship register, bringing the number to 1,286 vessels and a gross tonnage of 1,330,575.27 metric tons, as at 20th August, 2009.
On the review of port reform, he said the federal government has set up a committee to evaluate and assess the performance of the private terminal operators at the nation’s seaports.
He said that the evaluation and assessment was aimed at determining shortcoming of the port concession exercise and making necessary adjustment.
In his words, “the port concession exercise will be reviewed if deemed necessary after the evaluation and assessment process.
He added that the federal government has commenced the study of the National Port Master Plan meant to determined the opportunities and potentials of the nation’s seaports.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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