Business
Ministry Targets $27bn Contribution To GDP By 2025
The Ministry of Mines and Steel Development says it will contribute 27 billion dollars about ($9.7trillion) to the Gross Domestic Product (GDP) by 2025.
The ministry stated this in its Road Map in Abuja recently, adding that the contribution would be achieved in three phases.
It said that the phase one was to stabilise the sector and rebuild the country’s market confidence between 2016 and 2018.
According to him, the second phase will focus on establishing Nigeria as a competitive African mining and mineral processing centre from 2016 to 2020.
The ministry said the third phase would enable Nigeria compete in the global market for refined metals and minerals from 2018 to 2030 in addition to selected ore exportation.
It said that at the end of the third phase, Nigeria would have built a sustainable, globally competitive mining sector and related processing industry.
The ministry expressed the commitment to use the finite mineral resources in the country to improve the quality of life of Nigerians and earn healthy returns for the mining investor.
The ministry said its ambition was consistent with the tone set for national development expected to create the right conditions for minerals and mining success in the coming decades.
“If well executed, the ambition, combined with realistic plan can unlock value for the Nigerian people with the potential to contribute to the GDP through its significant multiplying effect,” it 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.