Business
NACCIMA Seeks Private Sector Participation In Policy Formulation
The Nigeria Associa
tion of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has sought for the private sector participation in policy formulation on issues relating to the nation’s economy.
The Vice President of NACCIMA, Prince Billy Gillis-Harry stated this, while speaking to The Tide in Port Harcourt.
Gillis-Harry said there was need for synergy between the public and private sectors in the provision of sustainable infrastructure needed for the nation’s economic growth.
He said banks were not in support of business growth in the country, rather, he stressed that banks could only know how to keep money and charging high transaction costs which is discouraging stakeholders from investing, in businesses to make profits and protect new entrants, ideas and innovations.
The association vice president said the country’s business environment was low, stressing that the policies that should have kick-start the growth of the economy were not put in place.
He also urged the national assembly to ensure the quick passage of the Petroleum Industry Bill (PIB), rather than the bill gather dust on the floor of the national assembly.
Gills-Harry said the PIB was aimed at tackling the excesses in the petroleum industry and ensure the promotion of local content to boost the grow of indigenous capacity in the oil and gas sector of the economy.
He said for the country to be fully industrialized and be stable economically not only in oil and gas sector, but in all aspects of the nation’s economy, local content should be a focus to deserve greater percentage of home grown production of local consumption items.
He said the local content law implementation would raised the level of the nation’s Gross Domestic Product (GDP).
Gills-Harry also commended the Nigerian Content Development and Monitoring Board (NCDMB) for their good performance in the oil and gas sector as the law stipulated.
He called for the expansion of the local content law to cover manufacturing and food production to enable agriculture come back as the mainstream of the nation’s economy and boost the GDP.
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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