Business
2016 Budget: FG Assures Of Effective Implementation
The Federal Government has assured of effective implementation of the 2016 budget in order to achieve accelerated development in the country.
The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, gave the assurance when he received the German Ambassador to Nigeria, Mr Micheal Zenner in Abuja, Wednesday.
A statement issued by Mr Charles Dafe, the Director of Information in the ministry, noted that Udoma had disclosed some blueprint of Federal Government to ensure effective implementation.
The statement quoted the minister as saying “our 2016 budget will be well-managed; on the expenditure side, we are taking measures to ensure the release of funds for capital projects and the projects will be properly monitored.
“This is to ensure that the funds are efficiently utilised toward economic development.
“On our planned N1.8 trillion borrowing for infrastructure development, we have started discussions with our local banks and international financial institutions like the World Bank and China Exim Bank, among others.
“Our budget crux is targeted at import substitution and export promotion.”
The minister commended the German Government over the plan to assist the nation in rebuilding the insurgents’ ravaged North Eastern geo-political zone and the development of the agricultural sector.
He said that the Muhammadu Buhari-led administration would prioritise agriculture so that Nigeria would be self-sufficient in food production.
Earlier, Zenner had told the minister that Germany would provide 13 million Euros to support the rehabilitation of the North East and in polio eradication, as well as the promotion of solar energy.
The envoy also said that Germany would assist Nigeria to attain self-sufficiency in rice and potato production through a loan package.
The ambassador explained that the loan would be jointly funded on 50-50 basis by Nigerian and German governments.
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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