Business
N1.4trn subsidy does not cover kerosene – Okonjo-Iweala
The Minister of Finance,
Dr. Ngozi Okonjo-Iweala, has said that the N1.4 trillion spent by the Federal Government on subsidy covered only petrol because no provision was made for subsidy payment on kerosene.
Okonjo-Iweala, who appeared before the Senate Joint Committee on Appropriation and Finance, said questions relating to kerosene subsidy should be directed at the Nigerian National Petroleum Corporation (NNPC).
Records show that N1.4trn has so far been paid to oil marketers as subsidy on petrol.
Meanwhile, the Comptroller-General, Nigerian Customs Service (NCS), Mr. Abdulahi Dikko, has said the service incurred revenue loss of N603.2bn between January and September this year.
He stated this on Monday, when he appeared before the Senate Joint Committee on Finance and Appropriation.
Dikko attributed the shortfall in revenue collection to waivers totalling N86.48bn; revenue conceded to the Niger Delta Development Commission (NDDC), N59.5bn; ban on rice importation, N96.94bn; and revenue loss to local manufacturers and assemblers, N76.1bn.
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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