Business
Ex-CBN Chief Charts Path To Transformation
A former director of the Central Bank of Nigeria (CBN), Mr Titus Okurounmu,says Federal Government’s Transformation Agenda may not be realised without strong public institutions.
Okurounmu told newsmen in Lagos on Thursday that many of the state institutions were absolutely weak and could not perform their statutory functions.
“Good governance cannot be achieved with the kind of public institutions that are operating in the country presently,“ he said.
The former CBN director said the solution to the nation’s economic and social woes lied with building strong state institutions with consistent economic policies.
He said that the consolidation of the economic achievements of past governments lied with the independence and commitment of state institutions.
Okurounmu also said that improvements in the non-oil sector of the economy would reduce inflation rate to single digit.
“The scourge of two digit inflation rate to an economy like ours is a negation.
“Government needs to emphasise reduction in the inflation rate to single digit at all costs, “ he said.
Okurounmu, however, said that the non-oil sector could not be maximally exploited if the necessary infrastructure were not in place.
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.