Business
Adamawa Gets $11m From Sovereign Wealth Fund
The Adamawa Government on Tuesday received 6.2 million dollars, representing its savings under the Sovereign Wealth Fund.
The 21 local government councils in the state also received 4.8 million dollars to be shared among them.
Reports say that the Sovereign Wealth Fund is a vehicle through which excess revenue from the sale of crude oil is saved abroad.
Receiving certificates for the two amounts in Yola, Gov. Murtala Nyako of Adamawa, said that the introduction of the fund was laudable as it would enhance development.
He said that Germany introduced a similar fund 40 years ago “and it helped greatly in the nation’s transformation”.
Nyako received the certificates from the Commissioner of Finance, Alhaji Ibrahim Buba and Commissioner for Local Government, Alhaji Salihu Bakari, respectively.
He said that his administration was committed to development of the state.
According to him, the government will continue to seek ways of accessing funds to provide essential infrastructure in the state.
“It is not collecting loans that matter, but utilising it for maximum benefit of the present and future generations,’’ he said.
Reports say that the ceremony also featured the presentation of the certificate of best governor of the year in agriculture to Nyako by an Abuja based agriculture firm.
The Chairman of the firm, Royale Criterion Consult, Dr Abba Gambo, said the award was in recognition of the transformation of the agriculture sector in the state.
Gambo said that the sector had recorded “manifold yields| in both crops and livestock in 2013.
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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