Business
‘Reduce Fuel Subsidy’s Funding’
The Secretary to the Asagba of Asaba in Council, Chief John Iloba, has urged the Federal Government to review downward, money spent on petroleum subsidy.
He told our correspondent in Asaba on Monday that the removal of the subsidy would bring more hardship to Nigerians.
Iloba said that the downward review would be the best option, because it would be beneficial to all Nigerians.
He suggested that the review should take into consideration the interest of the oil producing states in the Niger Delta by improving infrastructure in the region.
“If this is not done, the oil producing states will stand to lose, in the sense that the oil is coming from them and at the same time they are going through hardship, especially in the riverine communities.’’
In his reaction, the President of Asaba Chamber of Commerce, Industry, Mines and Agriculture, Chief Uju Udeme, applauded government’s proposed planto remove the subsidy.
He said that the level of development in the country, especially in the areas of infrastructure and population, had made the retention of the subsidy unnecessary.
Udeme said that the continued retention of the subsidy would affect economic development of the country.
He noted that in some countries, such as Saudi Arabia and other OPEC member nations, although the price of fuel was high, the product was always available.
Udeme said the removal of the subsidy would boost economic activities, particularly in the area of infrastructural development.
“More money will be available to government at all levels to carry out a lot of development programmes.’’
The Delta Commissioner for Economic Planning, Mr Kenneth Okpara, said although the removal of the subsidy would affect the poor in terms of transportation cost, “more money will be available to fund government’s projects that will be of benefit to the poor”.
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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