Business
Subsidy: ‘No Provision To Pay Oil Marketers Q1, 2014’
The Managing Director of
Petroleum Product Marketing Company (PPMC), Mr Haruna Momoh, said no provision had been made to pay oil marketers for the first quarter of 2014.
Momoh said this when he appeared before the Senate Committee on Petroleum Resources (Downstream) in Abuja.
In spite of this, he added that Federal Government owed the marketers N100billion for the third and fourth quarters of 2013.
He added however that out of the amount, the Ministry of Finance said it had released N41 billion to the marketers.
Momoh said that “N100 billion was being owed but we have confirmation from the ministry of finance that N41billion has been released for payment for the third and fourth quarter of 2013’’ .
The managing director said that in spite of the debt, normalcy had returned to fuel supply across the country as the other marketers had begun to import to meet their 50 per cent obligation.
Momoh said that although the NNPC continued to meet its 50 per cent supply, it also had to take products from the National Strategic Reserve Stock.
He said this was to ensure that Nigerians had fuel in full supply so as to reduce the long queues at filling stations across the country.
Momoh said the National Strategic Reserve Stock was at 14 days but added that efforts were being made to restore it to the standard 30 days required by the end of April.
The Deputy Chairman of the committee, Senator Danjuma Goje (PDP-Gombe), wondered how the situation could be normal if out of N100billion, only N41 billion had been paid for 2013.
He further wondered how soon provision would be made for the payment of the first quarter of 2014.
Representative of the group managing director of NNPC could not to provide satisfactory answers concerning the refurbishment of refineries.
The NNPC was asked to furnish the committee with details of the refurbishment of refineries, record of volumes of sales, crude oil swap and management of aircraft- both chartered and purchased.
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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