Business
Ex-Bank Manager Urges FG To Liberalise Investments
A call has been made on the Federal Government to create an enabling environment that would enhance the inflow of foreign investments into the nation’s infrastructure sub-sector.
A former Manager of the defunct All States Trust Bank, Augustine Aworiye, made the call on Monday at an interactive business forum held in Port Harcourt.
He said, it was imperative that efforts were made and realistic steps taken by the Federal Government to increase and sustain investment in infrastructure at both the national and regional levels, but that critical reforms must be carried out to ensure the development of efficient and adequate infrastructure.
According to him, Nigeria requires a vibrant and dynamic energy sector in order to achieve meaningful economic development. He argued that a substantial amount of investments in the country’s energy infrastructure was urgently required if Nigeria’s aspiration of being among the top 20 economies in the world by 2020 was to be achieved.
“Nigeria faces major investment and technical challenges in order to develop her energy infrastructure and deliver affordable energy to other important sectors of the economy for sustainable economic growth and development. Nigeria is confronted by inadequate and old energy infrastructure facilities and networks. The country’s experience is that huge infrastructure deficit has greatly constrained economic growth and development, thus inhibiting our ability to improve the quality of life as envisaged in the agenda of the general government,” he lamented.
He continued that efforts at making infrastructure to work should be top on the development agenda, adding that this would require massive investment through public-private partnership, while the governments should provide the enabling environment to attract foreign investment inflow to the infrastructure sub-sector.
Aworiye stressed the need to reform the institutional machinery for the delivery of infrastructural services, including an extensive review of legal requirements with a view to jettisoning those laws that constrain the development of infrastructure.
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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