Business
No Going Back On Oil Sector Deregulation – Minister
The Federal Government is not going back in its plan to deregulate the downstream sector, the Minister of State for Petroleum, Dein Ajumogobia has said.
Ajumogobia, who stated this in an exclusive interview with The Tide recently at the Port Harcourt International Airport, Omagwa, said that the Federal Government is currently doing the necessary home work to ensure that when the deregulation starts, it would be sustained.
According to him, the process is not simply to allow marketers to sell petroleum products at any price they like, but that government is working out a guideline that will create a level playing field for all.
In his words, “It is not a simple matter of allowing people to sell fuel at any price they like, that is not deregulation, government wants those entering into the business to know the criteria and also guard them in their activities”.
The move, he said would discourage another kind of cartel who would want to take over the business and dictate prices, noting that government was committed in making the product available at all times.
“The issue of downstream have been emotive, people feel that when the price of fuel goes up, cost of things and transportation will equally go up and this will encourage hardship. But recently, this administration for the first time reduced the pump price from N70 to N65, the prices of transportation and food items didn’t come down. So, if it is directly, relative, it would have come down”, he said.
Ajumogobia, however, said that the Federal Government believed that deregulating the downstream oil sector would open a new opportunity for investment which will create wealth.
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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