Business
US Boosts Investment Opportunities In Nigeria …Hosts Road Governance Caravan
The United States
Agency for International Development (USAID)/Nigeria, in partnership with the West Africa Borderless Alliance, has hosted a road governance caravan on the southern segment of the Lagos-Kano-Jibiya (LAKAJI) transport corridor.
A statement issued by the US Embassy in Nigeria, and made available to The Tide by email, indicated that the caravan started in Lagos on April 11, passed through Ogun and Oyo, and concluded in Kwara State on April 15, 2016.
Speaking at the event, USAID/Nigeria Director, Michael T. Harvey, said: “High shipping costs and long transit times are real disincentives to doing business in Nigeria,” adding that, “Reducing the time and cost of shipping goods on the LAKAJI corridor can serve as a boon for much needed investment”.
The Tide learnt that the road governance caravan is an advocacy platform, which aims to remove non-tariff barriers to enhance the competitiveness of the LAKAJI corridor.
The statement explained that throughout the week-long event, “leading agricultural producers, traders, transporters, and financiers proposed and advocated for systemic and practical improvements to the movement of goods, transport, capital, and services across Nigeria”.
The caravan’s participants included truck drivers; ministry/department/agency officials; Nigerian Shippers’ Council; the National Association of Chambers of Commerce, Industries, Mines, and Agriculture; civil society organizations; the Federal Road Safety Commission; and the National Association of Nigerian Traders.
It would be recalled that in 2013, USAID conducted a baseline study on the LAKAJI corridor, which revealed that it costs over $3,000 and takes approximately 12.5 days to send a 20-foot container from Jibiya in northern Nigeria to Lagos in the South-West, while it costs nearly $5,000 and takes approximately 19.5 days to ship a 20-foot container from Lagos to Jibiya.
The Tide gathered that the higher cost to transport goods along the corridor is largely due to the lengthy clearance time and associated costs at the Lagos port, just as the overall cost and delivery times along the Lagos-Kano-Jibiya corridor are significantly greater than similar corridors in West Africa.
Susan Serekara-Nwikhana
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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