Business
Commissioner Wants Deregulation Of Downstream Sector
The Edo State Commissioner for Special Duties, Oil and Gas, Mr Orobosa Omo-Ojo, on Tuesday called for the deregulation of the downstream sub-sector of the nation’s oil and gas sector.
Omo-Ojo told the newsmen in Lagos that the benefits of deregulation far outweighed its demerits and urged the Federal Government to put effective palliative measures in place.
According to him, there is no indication whatsoever on ground that the Federal Government has put in place palliative measures that will drive the deregulation of the downstream sector of oil and gas.
“The subsidy money could be used for other developmental projects like roads, hospitals, schools, transportation, infrastructure, health care for the masses and other social amenities,’’ Omo-Ojo said.
The commissioner urged the government to effectively address the challenges confronting Nigerians before deregulating the sector.
“The Federal Government should allow states to partner with it, to drive the country’s refineries, because some states are operating modular refineries (smaller refineries),’’ he said.
Omo-Ojo said that regulation of the downstream sub-sector had affected the construction of new refineries by private investors.
According to him, “A case study is what is happening at the depot. While the Federal Government has about 21 depots, private investors had built over 60 depots.
“This has helped in curbing storage problems we used to have in the past. “If this arrangement is replicated in the entire downstream sub-sector, it would promote efficiency, transparency, employment and accountability in the entire value-chain, ‘’ he said.
Omo-Ojo said that the Subsidy Re-Investment Programme (SURE-P), an initiative of the Federal Government, should be re-directed to impact positively on the common man.
The commissioner, however, advised that the impact of the SURE-P initiative should be felt at the grassroots.
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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