Business
Corporation Plans 250mw Power Plant In A’Ibom
The Chairman, Akwa-
Ibom Investment Corporation, Chief Senas Ukpanah, says the corporation will facilitate the establishment of a 250-megawatt private power plant in the state.
Ukpanah told newsmen that the power plant would be known as Ikot Abasi Power Project and would be located in Ikot Abasi local government area.
Meanwhile, the state independent power plant which generates 191 megawatts of electricity is already located at the coastal town of Ikot Abasi.
Ukpanah, who spoke on the activities of the corporation since 2011, said the corporation received and appraised 100 business proposals from the public.
He said only 23 out of the number met the requirements for funding by Bank of Industry.
The Akwa-Ibom Government signed a memorandum of understanding (MOU) last September with Bank of Industry for funding of small businesses in the state to the tune of five billion naira.
The state government was expected to contribute N2.5 billion in the agreement, while bank would pay the balance of N2.5 billion.
Ukpanah, who was a former Minister of Commerce and Tourism, said the proposals were appraised on the basis of market viability, infrastructure, support services, finances, information and technology availability.
He said that the approved plans were investments in toiletries, exercise books, bottled water, carbonated drinks, vegetable oil and water purification chemicals.
Others were production of fertiliser, processing of cassava into starch, plantain, yams and cassava flour.
Ukpanah said that another private investor would commence assembling of television sets in the state in nine months time.
He said the corporation had received many proposals on seafood production and appealed to the Federal Government to lease the abandoned Ebughu fishing terminal to the state.
Ebughu Fishing Terminal in Mbo Local Government Area was conceptualised during the second republic by the administration of Alhaji Shehu Shagari, but became moribund after few years.
“We are inculcating in our people, investment culture, we are transiting from agro-based economy to industrial economy.
“Akwa-Ibom Investment Corporation is to serve as the special purpose vehicle for the implementation of government industrialisation policy and programme.
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.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Maritime2 days ago
Minister Tasks Academy On Thorough-Bred Professionals
-
Maritime2 days ago
Customs Cautions On Delayed Clearance, Says Consignees May Lose Cargo
-
Maritime2 days ago
NCS Sensitises Stakeholders On Automated Overtime Cargo Clearance System
-
Maritime2 days ago
Lagos Ready For International Boat Race–LASWA
-
Maritime2 days ago
Shoprite Nigeria Gets New Funding to Boost Growth, Retail Turnaround
-
Politics2 days ago
I Would Have Gotten Third Term If I Wanted – Obasanjo
-
Sports2 days ago
Bournemouth, Newcastle Share Points
-
Sports2 days ago
Iwobi Stars As Fulham Overcome Brentford