Business
Absence Of Local Content, Hinders Foreign Firms
The Managing Director/Chief Executive Officer (MD/CEO) of RIVTAF Golf Estate, Mr. Mustapha Njie, has described the absence of local content as one of the major setbacks for multinational companies in their operations.
Njie who made this known in a chat with newsmen in his office at the Golf Estate, Port Harcourt, said that companies must learn how to include capacity building in their plans.
RIVRAF CEO noted the need for foreign contractors to obey the local content law, adding that this would guarantee their smooth operations.
“Capacity development must be part of their development plan, only then will the company or contractor be host community friendly and enjoy smooth operation devoid of unrest”, he said.
RIVTAF boss stressed that there is no threat doing business in Nigeria or Niger Delta, saying that problems only arise when local content law is neglected.
“No threat at all to do business in Nigeria or even Niger Delta. I came to Port Harcourt and I saw green light.
I have always targeted doing business in Nigeria because of the many opportunities which abound in the country”, he added.
According to the Ugandan based estate developer, 90 percent of the building in Golf Estate have been sold, adding that the company sales to any client who meets the purchasing requirement of the housing project.
He said that RIVTAF has been in real estate development for 25 years now, noting that Golf Estate is his first business in Nigeria which has empowered over 50 local contractors.
Njie said that the community members are well involved in the development, especially unskilled labour, adding that majority of the directors are from the state.
On the affordability of the estate by the civil servants, he advised the civil servants to go through the primary Mortgage Institute and Aso Saving and loans, adding that their contribution to the housing loans garantees that benefit.
It would be recalled that RIVTAF signed the Memorandum of Understanding with Rivers State Government to develop 900 housing units covering 40 hecters of land on December 2012 under the Public Private Partnership arrangement.
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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