Business
IPMAN Condemns Product Sharing Formula
The Independent Pe
troleum Marketers Association of Nigeria (IPMAN) says it would stop operation if the Nigeria National Petroleum Corporation (NPPC) refused to regularize alleged imbalances in the sharing and distribution formula of products to marketers.
IPMAN gave the warning as part of its resolutions reached at the end of the association’s stakeholders meeting Monday in Port Harcourt, the Rivers State capital.
Addressing newsmen, the chairman, IPMAN Elders Council, Dr Emmanuel Ihedigbo, alleged that the body which prides of about 85 per cent outlets was being slighted in the allocation formula.
He demanded 60 per cent to meet up its service delivery to members of the public.
Ihedigbo described as unacceptable to the body, an arrangement where petroleum products were allocated to private depots and sold to major marketers and mega stations.
The IPMAN Elders Council chairman urged NNPC to designate four tank farms in Port Harcourt, one in Warri, two in calabar and five in Lagos.
Chris Oluoh
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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