Business
Economic Recovery: RMAFC Urges Solid Minerals Dev
The Acting Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr Shettima Abba-Gana has called for a sustained intervention in the solid minerals sector to enhance economic recovery and growth.
Abba-Gana made the call in Abuja in an interview with newsmen.
He spoke on the report by the National Bureau of Statistics (NBS) that the nation had exited recession in the second quarters of 2017.
NBS had last Tuesday announced that the nation, which slipped into recession in 2016 following five consecutive quarter contraction, was out of recession.
Abba-Gana said that diversification through the solid minerals sector and agriculture were the surest ways to sustain the economy.
“RMAFC has been at the fore-front of diversification, urging states and local governments to embrace it fully. The best tools of diversification for the Nigerian economy are solid minerals and agriculture.
“Solid minerals are in every state and local government; so we must rededicate our attention to it as it can create employment, boost the economy and generate revenue.
“In addition, let the state governments be interested in solid minerals in their states, because they will get 13 per cent derivation, just like those from oil producing states,’’ he said.
Abba-Gana said that illegal miners, who made up 80 per cent of miners in Nigeria, should be brought on board and educated on the new techniques of modern mining to boost the nation’s revenue base.
He commended the Federal Government for taking Nigeria out of recession, adding that the feat was made possible because of the measures it employed.
“We are very happy that the recession has come to an end; it was initially caused by the collapse in the price of crude oil and the fact that we did not manage the surplus when we had.
“What has happened now is the discipline that this government has brought into place and the fact that the government has found ways of increasing sources of funds by efficient revenue generation and collection.
“Some borrowing also helped to revamp the economy,’’ the RMAFC chief said.
Abba-Gana expressed optimism that the exit would bring about more Foreign Direct Investments (FDI) as the citizens and foreign investors would begin to have more confidence in the economy.
The Tide source reports that the data released by NBS showed that the country’s GDP grew by 0.55 per cent (year-on-year) in real terms in the second quarters of 2017.
The bureau added that the recovery was driven principally by the performances of oil, agriculture, manufacturing and trade sectors.
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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