Business
Stakeholders Urge FG To Regulate Shipping Firms

Some maritime stakehold
ers on Monday in Lagos urged the Federal Government to regulate the activities of shipping companies in order to check capital flight.
The stakeholders, in separate interviews with newsmen, said that most shipping companies were extorting Nigerian shippers. Mr Alex Allison, a spokesman of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), said that shippers were at the mercy of the shipping companies.
“There are some loopholes in the system that these companies are leveraging on to extort money from importers. “A situation where shippers incurred demurrage caused by deliberate induced delays by the shipping companies should be rejected as such encourages capital flight,’’ Allison said.
A maritime lawyer, Mr Osuala Nwagbara, suggested that there should be a stop to capital flight. “The legal circle is awash with cases bordering on sharp practices of multinationals, especially those in the maritime sector, Nwagbara said. According to him, every investor is in business to make profit and it will be anti-trade for polices to be made at the expense of others.He called on the Federal Government to re-examine the port concession policy in order to create room for improvement.
The president of NCMDLCA, Mr Lucky Amiwero, said that the high cost of clearing cargoes in the ports could be traced to open-ended policies with shippers at the receiving end. Mr Stanley Ezenga, the Spokesman of the National Association of Government Approved Freight Forwarders (NAGAFF), called for proper monitoring of the activities of shipping companies to prevent shippers from being extorted.
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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