Business
Commissioners Okay FG’s N510bn Bailout Loan
The Federal Government’s decision to audit utilisation of the N510 billion stimulus package disbursed to states in 2016 has received the backing of Commissioners for Finance from the 36 States of the federation.
The endorsement was confirmed last Monday in Abuja by the Chairman, Forum of State Finance Commissioners of the Federation Account Allocation Committee, Mr Mahmoud Yunusa.
The Adamawa Finance Commissioner said the states would cooperate with the audit firms appointed by the government to carry out the exercise.
The Federal Government had, in December 2016, appointed eight accounting firms to evaluate the rate of compliance by state governments to the implementation of the Fiscal Sustainability Plan (FSP) which they signed in June 2016.
A total of 35 states signed onto the plan with Lagos being the only state that backed out of the agreement.
The FSP was a condition given by the Federal Government before it commenced the disbursement of the N510 billion budget support facility to the states to enable them pay workers’ salaries.
Before the conditional loan was released by the Federal Government, about 27 states were unable to pay the salaries of their workers.
The appointment of the firms was confirmed by the Minister of Finance, Mrs Kemi Adeosun, through a statement by the Director, Information in the Ministry of Finance, Mr Salisu Dambatta.
The accounting firms are PriceWaterHouse Coopers, KPMG Professional Services, Ernst and Young, PKF Professional Services, Muhtari Dangana and Co, S.S. Afemikhe and Co, Ahmed Zakari and Co, and Ijewere and Co.
Yunusa said the scarcity of resources to implement the programmes of government owing to economic recession, had made it imperative for states to be prudent and transparent in the area of financial management.
“The plan of the Federal Government to audit the fiscal sustainability plan of the states is welcomed.
“They are welcome because we have nothing to hide in the states.
“The resources are no longer there and so whatever resources that we have, must be effectively, transparently and judiciously used to the benefit of the people,’’ he said.
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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