Business
FG, States Power Intervention Gulps $4.6bn
The projected 6,000 megawatts December power target has gulped not less than 4.6 billion dollars, and more funds are expected to be spent on the project before the year end. The expenditure is part of the $5.2 billion pooled by the states and federal government from their share of the excess crude funds currently managed by the Presidential Steering Council on Emergency Power. Bent on improving power supply in the country, the federal government formed a counterpart funds from the 36 states share of the excess crude fund to complement its contribution. As at last week, 25 states had pooled funds to complement that of the federal government while 11 states are yet to forward their houses of Assembly’s approval for the transfer of their contributions. The total of $5.2 billion was part of the $9 billion withdrawn and shared from the excess crude account among the three tiers of government since the beginning of the year. So far not less than $4.6 billion has been spent on the approvals in the power sector by the National Economic Council (NEC) chaired by Vice President Goodluck Jonathan. The approvals under the National Integrated Power Projects (NIPP) endorsed by the Presidential Steering Council on NIPP include the April 14, 2009 approvals of N15 billion and the N300 million respectively to boost power generation in the country. According to the Council, the move is to shore up power generation from its dismal 1,200 megawatts to 6,000 megawatts at the end of 2009. The council also approved N117.3 billion for the rehabilitation of some power plants of the Power Holding Company of Nigeria (PHCN). Up to N43.29 billion of the said amount of money would be devoted to the generation, transmission and distribution of power. Also, an additional $480 million was also approved for the expansion of the Alaoji Power Plant and another N2.1 billion for the construction of ramp jetty across the Imo River for the transport of heavy equipment at the Onne Port to the Alaoji Power plant. The Steering Council the same day also ratified the anticipatory approval of the sum of $480 million for the establishment of letter of credit in favour of EPC contractor, Rockson Engineering for the funding of the expansion phase of the Alaoji Power Plant.
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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