Business
PIB: NEITI Hopeful Of Speedy Passage
The Nigeria Extractive Industries Transparency Initiative (NEITI), has in Abuja called for the speedy passage of the Petroleum Industry Bill (PIB) currently before the National Assembly.
A statement issued by NEITI’s Director of Communications, Mr Ogbonnaya Orji, said the agency was gladdened by the commencement of deliberation on the bill by the National Assembly.
“NEITI notes with interest that the Bill has passed the first and second readings and progressed to the committee stage at the Senate.
“The House of Representatives has also shown equal commitment by setting up a special ad-hoc committee to facilitate legislative proceedings on the bill,’’ it said.
The statement said the bill’s passage would go a long way in enhancing NEITI’s job of enthroning transparency and accountability in the nation’s oil and gas sector.
It noted that NEITI had been engaging stakeholders in the sector and the general public with a view to contributing to the content of the bill.
The statement said NEITI had articulated its contribution to the bill in a memorandum sent to the National Assembly.
“NEITI’s memorandum on the PIB has been submitted to the National Assembly.
“The areas highlighted are institutional governance and regulatory frameworks, award and acreages management, environmental issues, fiscal responsibility, financial provisions and public procurement,’’ it said.
The statement added that NEITI was ready and willing to defend its positions with a formal presentation during the public hearing on the PIB at the National Assembly.
It said NEITI would continue to push for the emergence of a petroleum industry law that would promote good governance and fiscal regime.
“We will want a law that meets international standards as well as guarantee increased revenue flow to the federation.
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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