Business
Subsidy Scam: NECA Wants ‘Cabal’ Exposed
The Nigeria Employers’ Consultative Association (NECA) has charged the Federal Government to unravel the scam surrounding fuel subsidy and make a pronouncement on a definitive plan to remove it.
Director-General of NECA, Adewale-Smatt Oyerinde, made the call recently while addressing journalists in Lagos, saying it was distressing to witness long queues in petrol stations across the country when the government claimed to have paid trillions in petrol subsidy.
He noted that 2022 remained one of the most challenging years for the organised private sector, adding that the pandemic-inflicted leadership and sustainability challenges forced organisations to take extraordinary measures in real-time with zero planning.
“Government has to stop making a mockery of Nigeria and the citizens. Notwithstanding the subsidy payment, Nigerians are still compelled to endure long queues to buy it at almost a black market rate, fuelling inflation and economic hardship”, he said.
Oyerinde claimed that enterprises in Nigeria were forced to operate under excruciating circumstances.
“Things changed drastically and dramatically, leaving no industry across the world unaffected. In Nigeria, enterprises were forced to operate under excruciating circumstances, made worse by inherent systemic contradictions.
“As organisations faced sustainability issues, they, at the same time, had to deal with rising energy costs, regulatory gangsterism, inconsistencies and contradictions in the fiscal and monetary policies, which has made doing business unattractive and created clogs in the wheel of attracting foreign direct investment, rising inflation and increasing cost of doing business,” he stated.
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.