Business
IPMAN Laments Petroleum Industry Fraud
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the level of fraud in the petroleum sector has become institutionalized to the extent that a lot of revenue from oil goes without being accounted for.
Director-General of IPMAN, Adi Elekwa who disclosed this to airport correspondents at the Port Harcourt International Airport Omagwa on his way to Abuja said that key agencies of government that were responsible for petroleum marketing have tended to pay deaf ears to the funds that are not accounted for.
According to him, nobody asks question on the extra amount that is being paid on pump price which government promised that it would utilize for the provision of infrastructures and for the well-being of the people.
He said that it was very unfortunate that such extra funds from the pump price does not go to the right place it is meant for, and that people keep quiet over it probably because they are directly or indirectly benefitting from it.
“I have personally made demands on some key issues and reforms any time I present papers on seminar and conferences in the petroleum sector on why some things must change.
“Each time they ask me questions again on my opinion on some issues in the petroleum sector, my reply had always been “Have you implemented the recommendations I made earlier,” he said.
The IPMAN DG also frowned at the increasing and unstable exchange rate which he said has weakened the ability of fuel importers to import the products.
Elekwa, however, opined that Nigeria as a nation, needs to sincerely focus on diversification of the economy, so that petroleum should no longer be the only revenue earner.
He said that the mono economic nature of the country had given room to a lot of fraud in the system.
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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