Business
Republican Party Supports Removal Of Fuel Subsidy
The National Chairman of the Republican Party of Nigeria, Mr Mohammed Shittu, says the removal of fuel subsidy will bring more benefits to Nigerians.
Shittu made the observation on Monday in Abuja, while reacting to the hike in the price of petrol, following the removal of subsidy on petroleum products on Sunday by the Federal Government.
“This will bring about a revolution in the sector as we witnessed in the telecommunication sector.
“Nigerians should be ready to make sacrifice because the revolution can only succeed if we are ready to do so,’’ he told newsmen.
Shittu said that Nigerians were enjoying GSM today because of deregulation, adding “we cannot afford to enrich a few people in the name of subsidy’’.
“I want to believe that we must start from somewhere and to get there we must pay a price.
“I believe that the money saved from the removal of subsidy will be invested in other sectors of the economy such as agriculture and education,’’ he said.
Shittu said that investors would not build refineries if there was no deregulation.
‘Investors will not want to build refineries in a situation where the government dictates the price of petroleum products.’’
He advised the government to invest more in agriculture, saying that agriculture had the capacity to provide more jobs than any other sector.
“The fact remains that by the time our agricultural potential is properly harnessed, our economy will be one of the strongest in the world.
“Our dependence on oil has caused the country a lot of problems, so we must learn to diversify our economy,’’ Shittu added.
However, in his reaction, Mr Patrick Emiantor, the National Secretary of the Movement for Democracy and Justice (MDJ), said the government should have provided some cushioning effect before removing subsidy on fuel.
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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