Business
Japan Reaffirms Support For Infrastructure Dev In Nigeria
The Japanese Government
has reaffirmed its support for the promotion of high quality infrastructure to enhance the socio-economic development of Nigeria.
Counsellor, Embassy of Japan in Nigeria, Mr Masaya Otsuka, said this at the Nigeria-Japan Public-Private Conference for High Quality Infrastructure in Lagos.
The conference was organised by the Ministry of Lands, Infrastructure, Transport and Tourism (MLIT) of Japan, the Japan External Trade Organisation (JETRO), Lagos State Government and the Lagos Chamber of Commerce and Industry (LCCI).
According to him, Japan is committed to the growth of Nigeria’s economy by promoting quality infrastructure that is cost efficient and resilient.
Otsuka said Japan acknowledged the infrastructure challenges confronting Nigeria and was ready to support the country to overcome it in a sustainable way.
“Infrastructure forms a basis for economic growth, improves the quality of life of its citizens and places a country on a sustainable path.
“If you are thinking of development, you have to make it a long term programme that will be sustainable to boost economic growth.
“Japan has a wealth of experience in building quality infrastructure using advanced technology that are made to last.
“We believe in Nigeria’s future. We are ready to strengthen investment in Nigeria.”
Deputy Minister, Japan Construction, Engineering and Real Estate Industry, Mr Yasuki Kaibori, said Japan could support Nigeria through the sharing of experiences and technologies.
Kaibori said the conference was to strengthen Japan’s bilateral economic relationship with Nigeria.
President of LCCI, Mrs Nike Akande, said the conference was timely considering the critical level of Nigeria’s infrastructural deficit.
She said a report from the African Development Bank (AFDB) estimated Nigeria’s core stock of infrastructure at 20-25 per cent of GDP, compared with 70 per cent recorded by other middle income countries.
“This leaves an infrastructure deficit of 300 billion dollars, while there are considerations on the use of pension funds for infrastructure financing and the 2016 federal budget allocating N1.8 trillion to capital trillion to capital expenditure.
“There is definitely need for Foreign Direct Investment (FDI) to deepen finance for infrastructure in Nigeria.”
According to her, the Infrastructure Concession Regulatory Commission (ICRC) revealed that N3.1 trillion is needed to bridge the infrastructure gap in the transport sector.
Executive Vice President of JETRO, Dr Katsumi Hirano, said Nigeria had to develop her infrastructure to strengthen the competitiveness of the manufacturing and agriculture sector.
Mr Bello Husseini, Charge d’affaires ad interim, Embassy of Nigeria in Japan said the relationship between Nigeria and Japan dates to 1960.Husseini said Japan had supported Nigeria in healthcare, education, capacity building, research and development and infrastructure.
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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