Business
NEWS PAPER HEADLINES FOR TODAY MONDAY 2 OCT. 2017
Sahara Reporters
Nnamdi Kanu: Nigerian Army Is In Contempt Of Court By Aloy Ejimakor
Buhari’s Government Requested For User Information From Facebook, Google And Twitter | Thisday
We Will Not Allow Advocacy For The Dismemberment Of Nigeria – Buhari
The Dotard And The Rocket Man By SOC Okenwa
Court Fixes October 9 For Hearing On Bankruptcy Charges Against Jimoh Ibrahim
Nigeria Risks Implosion Without Restructuring – Dickson
Fleeing Boko Haram Member Arrested In Ondo State
Nigerian Army Troops Ambush Boko Haram Fighters
Police, Army Block Anglophone Cameroon Protest
Buhari Visits Maiduguri To Celebrate Independence With Troops
U.S. Gives $54m To Nigeria, Cameroon, Chad For Humanitarian Assistance
Former NANS President, Dauda Mohammed, Is Dead
IGP Places Police On Red Alert Over October 1 Quit Notice To Igbo
Daily Independent
Agitators For Separation Are Noise Makers ‘ Buhari
Another Boko Haram Member Captured In Ondo
W’Cup: Super Eagles Players Expected In Uyo Monday
Nepotism Is Too Prevalent In Buhari’s Government ‘ Junaid
New Capital Base Regime Coming For Insurance Firms
We Will Handle Nigerian Pressure ‘ Zambian Coach
Equities Market Records Mixed Performance, Investors Grab N14.083bn
How Wike Solved Rivers Insecurity Challenge
Nigeria At 57: Restructuring As Way Forward
Strike Technically On Until Tuesday ‘ JOHESU
W’Cup: Chipolopolo Formally Open Accra Camp
Cross River Invests N100m To Float Micro-Finance Bank
Celestial Church Resolves 15-Year Crisis
Apex Banks Tighten Security On Inter-Bank Payments Over Fraud
Asaba Stadium To Be Ready For CAA Championship ‘ Okowa
FG To Hold National Dialogue On Revival Of Marketing Boards
Nigeria’s 57 Years Of Independence Has Not Been Fruitful ‘ Akinjide
W’Cup: Iwobi Fires Zambia Warning
Independence: There Is Hope For Nigeria At 57 ‘ Ajibulu
Vanguard
Collegiate presidency and national harmony
Atiku to Buhari: Fulfil your promise to Nigerians on security
Still on investment outlook for cement stocks
Woman, 70, daughter docked over N200m fraud
Still on investment outlook for cement stocks
We are designing a software to assist members comply with NAICOM requirements ‘ NCRIB President
Osun APC again challenges PDP to debate
Adverse tax on dividends scares investors ‘ Anono
Adverse tax on dividends scares investors ‘ Anono
Thisday
Nigerias Unity Remains Sacrosanct, Says Ugwuanyi
Nigerias Unity Remains Sacrosanct, Says Ugwuanyi
In Historic First, Benin Photographs Return Home
Nigeria Needs Responsible Leadership, Says Melaye
Bikers Hold Unity Ride, Hoist Giant Nigerian flag in Abuja
Osun Assembly Calls for Sober Reflections
Osun Assembly Calls for Sober Reflections
Fashola: Discos Will Be Insolvent If FG Collects N536bn Debt
Kwara Speaker Blames Leadership, Nigerians on Bad Governance
Daily Times
AAAN unveils advocacy campaign on Nigerias unity
Afreximbank pledges support for Burundis development
Afreximbank pledges support for Burundis development
CRiver APC urges Nigerians to look beyond challenges
NUC scraps PGDE training for lecturers with PhDs
Why CSR principles differ globally
Nigeria @ 57 Buhari has made significant achievements- Gov Abubakar
Produce Nnamdi Kanu, family asks Nigeria army
Produce Nnamdi Kanu, family asks Nigeria army
Leadership
Ecobank Nigeria Promotes Over 1000 Staff
Naira Firms As Analysts Anticipate Rate Cut Soon
Nigerians Spent $3bn Annually On Foreign Goods MAN
UBA Foundation Calls For Entries For Essay Competition
NSE Ends Q3 2017 With N765bn Gains
Nigeria @57: FAAN Assures Safety, Security At Nations Airports
The Nation
Buhari: we’ll defend all Nigerians everywhere
Buhari: we’ll defend all Nigerians everywhere
Kalu under fire over Kanu’s whereabouts
Kalu under fire over Kanu’s whereabouts
Boroh to Niger Delta ex-agitators: help build economy
Boroh to Niger Delta ex-agitators: help build economy
Olubadan, NLC: why we shunned Independence celebration
Olubadan, NLC: why we shunned Independence celebration
Nigeria will be prosperous again, says Osinbajo
The Herald
Former NANS president, Dauda Mohammed is dead
Nnamdi Kanu is hiding in a nearby African country ‘ Kemi Olunloyo
Kiran Matharoo arrested at Marco Polo airport in Venice
Buhari visits Nigerian troops in Maiduguri
Zoo Lion kills attendant in Agodi Gardens, Ibadan
Senate working on legislation to attract foreign investors-Yusuf
FG to hold national dialogue on revival of marketing boards
Nigeria@57: Introduce Diaspora voting, Union begs FG
Presidency urges insurgency affected communities to avoid ethno-religious conflict
Guardian
Firm issues N10 billion series 1 bond programme
Skye Bank charges students on savings culture, diligence
Napoli top as Atalanta fightback frustrates Juventus
Ocampos brace helps Marseille stun Nice
Tambuwal, Ganduje, El-Rufai caution against violent agitation, tribal sentiment
Investors’ recover N14 billion in one month
Malaria resistance spread from GM to wild mosquitoes
Fidelity donates hospital equipment in Bauchi
Aregbesola, Akeredolu, Amosun want Nigerians to eschew violence
Daily Trust
Dont increase electricity tariffs
Bauchi gov leads APC Anambra govship campaign team
Dogara: Women involvement in politics necessary for growth
We have to win Anambra govship Okorie
We must fix our politics well Atiku
Nigeria will achieve its goals soon APC
PDP, APDA, DPC ask FG to sustain democracy
Engage agitators to douse tension, N/Delta youths urge FG
Police nab 30 over public nuisance
Tribune
Buhari should engage restructuring without further delay ‘Afenifere
Be security conscious, provide adequate information for security personnel, FCT minister urges Nigerians
Wecyclers founder relinquishes leadership, names Olawale Adebiyi new CEO
Restructuring: Bakare advocates 10-yr transition programme to last 2028
Echoing Green Global earmarks $80,000 for emerging social entrepreneurs
Another Boko Haram member nab in Ondo
Leadership flaws that kill employees’ productivity
Buhari in Maiduguri for Independence celebration
A chief responsibility of leadership
The Authority
Nigeria @57: Presidency releases Buhari’s 57 achievements
Nigeria @57: Wike to Nigerians: build bridges of peace
Nigeria at 57: IBB urges Nigerians to embrace dialogue in resolving challenges
Nigeria @57: Dogara urges Nigerians to strengthen bond of unity
Fayose owes workers eight months’ salaries – Ekiti NLC
Independence anniversary: APC urges Nigerians to reflect on country’s challenges
57th Independence Anniversary: Saraki congratulates Nigerians, calls for unity
Boko Haram: U.S. announces $54m aid for Nigeria. 3 others
Umahi seeks divine courage to sign convicted-kidnappers death sentence
BusinessDay
Ghana’s 9% GDP growth lays bare Nigeria’s policy failures
Experts raise concerns on rising rejection of electricity output by Discos
14 Firms paid N27.02 bln claims in HY
Nigeria’s capital expenditure challenge in the face of huge infrastructure deficit
Self-determination: Regionalism not secession is the right way forward
MFBs urged to consider bond issuance as funding alternative
Conoil: Nigeria’s strength lies in its unity
NEPC urges Aba entrepreneurs to look towards export to expand their businesses
Bag, suitcase makers invest N400bn into Nigerian economy
New Telegraph
Probing JAMB, NIMASA over remittances
Time for APC, Federal Government to think
Task force arrests 76 suspected criminals
Aborisade: There’s nothing to celebrate at 57
Governors sue for peace, unity at independence celebration
Waste recycling firm names CEO
Iwobi sends warning signal to Zambia
Blueprint
Independence celebration: Service Chiefs, DG DSS visit troops in frontlines
IGP Idris: Dawn of new Police Force, ‘ By Dahiru Hassan Kera
Letter to Ndigbo, ‘ By Promise Adiele
Contribute to national discourse, A-GF urges pensioners
Buhari is too slow ‘ Obasanjo
Intrigues of some desperate Katsina state politicians, ‘By ABU ABDULLAHI
How Bagudu’s good governance subdued PDP in Kebbi, ‘ By JAMILU KABIRU
Ecological Fund and the cans of worms,’ By Dan Agbese
Insurgency: Reps probe N28 billion Bama Initiative Fund
Premium Times
Two killed in auto-crash in Kogi
Another Boko Haram suspect arrested in Ondo
No referendum for Catalonia independence, Spanish Prime Minister insists
Nigeria’s Falconets thrash Tanzania 6-0
Independence: How to restructure Nigeria ‘ Pastor Tunde Bakare
Five Nigerian classics worth listening to on Independence Day
Ex-NANS President Dauda Mohammed is dead
Nigeria plans national dialogue on revival of agricultural marketing boards
Buhari arrives Borno, celebrates independence with Nigerian troops fighting Boko Haram
PHOTO NEWS: Buhari visits Nigerian troops fighting Boko Haram in Borno
PSquare’s split is publicity stunt ‘ Kenny Ogungbe
Niger governor’s lawyer reacts to Premium Times’s report on principal’s secret offshore assets
Buhari doing a lot to keep Nigeria indivisible, progressive ‘ PDP Governor
The Sun
Border communities ignorant of smuggling law, says Uba
The push for Obiano’s job
CHAN 2018: Morocco, E/Guinea bid to replace Kenya
Border communities ignorant of smuggling law, says Uba
Aregbesola congratulates Nigerians, harps on unity and culture of productivity
Anambra on the march again
Arms import: Freight forwarders accuse Customs of conniving with importers
Remembering Obafemi Awolowo
Arms import: Freight forwarders accuse Customs of conniving with importers
Pulse
Tech: Larry Ellison’s slide clicker failed during his Oracle OpenWorld keynote (ORCL)
Tech: Oracle announces a new automated database that can patch cybersecurity flaws itself (ORCL, AMZN)
Nobel Prize: 2017 season opens with medicine prize
In France: Brother of gunman who attacked French Jews goes on trial
In Malaysia: Women plead not guilty to murdering North Korea leader’s half-brother
Hurricane Maria: Puerto Rico’s new migration to Florida could turn state Democratic
Politics: Trump told his staffers to portray him as ‘crazy’ to get more out of negotiations with South Korea
Donald Trump: US President defends Puerto Rico effort, but his tweets draw new criticism
Ranar Yanci: A Nijeriya, Tutar mu ta fara yawo a sama
Tori
History Maker: Arsene Wenger Breaks and Sets Premier League Record as Arsenal Defeats Brighton
Catalunya Referendum: Messi Scores Brace as Barca Demolish Las Palmas in Empty Camp Nou Stadium
Ailing Ex NANS President Dies Few Minutes Left on Arrival to India for Medical Treatment
Motorcycle Thief Caught and Paraded In Enugu On Independence Day (Photos)
Negotiating with ‘Rocket Man’ is a Waste of Time – Trump Talks on North Korea
UK Calls on Nigerians to Remain United While Celebrating 57th Independence
Our Resilience Will Help Us Overcome Nigeria’s Challenges – Jonathan Speaks on 57th Independence
FlashBack: 1960 Independence Day Speech – By Tafawa Balewa
Horror! Man Screams ‘Allahu Akbar’ Before Stabbing Two Women to Death at a Train Station in France
World
2018 Honda Accord: Honda Launches An SUV Counterpunch With Its All-New Accord Sedan – Forbes
2018 Honda Accord: Honda Launches An SUV Counterpunch With Its All-New Accord Sedan – Forbes
A psychologist explains the top 3 reasons why we love our smartphones – Business Insider
According To His Tweets, Trump’s North Korea Policy Will Constitute Genocide – Huffington Post
After Spat Neymar Sparkles; Barcelona Plays To An Empty Camp Nou; Why Harry Kane Loves September – Forbes
Air France engine failure forces emergency landing in Canada – CNN
American Express Expands Centurion Lounge Network To Hong Kong And Philadelphia – Forbes
Amid tensions with North Korea, the US Navy has to keep an eye on China too – Business Insider
Apple iOS 11.0.1 Starts Causing Problems – Forbes
Apple now sells an iPhone dongle with a headphone jack and charging port – The Verge
Arc: Record fifth victory for legendary jockey Dettori – CNN
Attorney General Pam Bondi wants to keep OJ Simpson out of Florida – Yahoo
Barca bars public from match amid Catalan vote chaos – CNN
Behind The Killers Chart-Topping Comeback Album – Forbes
Behind The Killers Chart-Topping Comeback Album – Forbes
Benghazi attack suspect to stand trial in US – CNN
Born stateless: Looking for a country to love me – BBC
Bull wresting for love in Madagascar – BBC
Business
As Nigerians Battle Pains Of Soaring Petrol Price
This is more than just about fuel; it’s about the larger picture of governance failure. The fact that a country as oil-rich as Nigeria can’t provide affordable fuel for its people is a tragedy.
BY IFEANYI MOGBOLU
The Daily Times-The latest fuel price hike in Nigeria is beyond frustrating. Every time we think it can’t get worse, it does, and yet again, ordinary Nigerians bear the brunt of it.
It’s like a never-ending cycle, where the government’s promises of reforms or stabilisation always end up as empty rhetoric. The cost of living is already sky-high, and now, with fuel prices rising again, transport fares, food prices, and basic commodities are bound to follow suit.
It’s enraging because it doesn’t feel like anyone is truly considering the everyday citizen who is struggling just to survive.
This is more than just about fuel; it’s about the larger picture of governance failure. The fact that a country as oil-rich as Nigeria can’t provide affordable fuel for its people is a tragedy. The subsidies are gone, and now we’re left in a situation where the prices of everything keep climbing, while salaries remain stagnant or non-existent for many.
The disparity between the elites and the masses is growing, and it feels like nobody in power truly cares about the suffering of the people.
READ ALSO: NNPC Lied About Pump Price, Our Fuel Is 15% Cheaper Than NNPCL’s Imported Ones — Dangote
Hardship: ‘Suspend All Policies Impoverishing Nigerians’, NASME Begs Tinubu
Naira Hits Six-month Low In Official FX Market, Prof. Steve Hanke Slams Tinubu
The anger isn’t just about fuel; it’s about the entire state of living. Nigerians are exhausted. There’s no sense of security; power supply is erratic, basic infrastructure is crumbling, and inflation is at an all-time high. How do we live like this? Every day is a battle to make ends meet, and the government seems utterly disconnected from the struggles on the ground.
It’s infuriating that while politicians and elites live in luxury, the rest of us are left scrambling for the bare minimum. The state of living is unbearable, and the lack of empathy or real action from those in power only adds salt to the wound.
There’s a deep sense of anger and betrayal that comes with seeing your country’s wealth mismanaged, while the people continue to suffer. It’s hard not to feel like we are constantly being taken for granted, pushed further into hardship without any hope of relief. Something has to give, because this state of affairs is unsustainable.
QUOTE:
The anger isn’t just about fuel; it’s about the entire state of living. Nigerians are exhausted. There’s no sense of security; power supply is erratic, basic infrastructure is crumbling, and inflation is at an all-time high. How do we live like this? Every day is a battle to make ends meet, and the government seems utterly disconnected from the struggles on the ground. It’s infuriating that while politicians and elites live in luxury, the rest of us are left scrambling for the bare minimum.
Business
Nigeria To Receive $5.600,000 From Bill Gates, For Health And Agricultural Reforms, GMOs
Alongside the activities surrounding the 79th United Nations General Assembly in New York, Vice President Kashim Shettima held a meeting with the Bill and Melinda Gates Foundation leading to the announcement of the donation by the Foundation’s head of Global Development.
Bill and Melinda Gates Foundation is giving Nigeria through Vice President Kashim Shettima, a $5.600,000 funds to speedy up health and agricultural reforms in favour of the GMOs in Nigeria, and flood relief.
Through the Foundation’s head of Global Development Programme, Dr Christopher Elias, Bill Gates pledged $5 million grant approved for Lagos Business School and partners to develop the agricultural economics they called “industrial cassava” and $600,000 for flood relief in Borno State and other health sector initiatives.
Alongside the activities surrounding the 79th United Nations General Assembly in New York, Vice President Kashim Shettima held a meeting with the Bill and Melinda Gates Foundation leading to the announcement of the donation by the Foundation’s head of Global Development.
Recall that on 4 September, Bill Gates had described the Nigeria’s economy as “stagnated” and proposed agricultural reforms for faster and increased growths in crops, fruits, vegetables amongst others to enhance nutritional values of the Nigerian citizens through the agricultural sector.
In that meeting Chaired by Vice President Kashim Shettima, Bill gates urged Nigeria to adopt “innovative crop varieties with shorter growing periods, higher yields, and better pest resistance” pointing to the GMOs to address the food crisis.
READ ALSO: Bill Gates, Anthony Fauci and conspiracy theories (part 2)
Nigeria’s economy stagnated – Bill Gates
Nigeria Is Not Meant To Exist, A Collateral Damage And British Royal Niger Corporation -Burna Boy
Moreover, at the 79th UN General Assembly in New York, VP Shettima reaffirmed to the Bill and Melinda Gates Foundation, the commitment of the administration of President Bola Ahmed Tinubu prioritizing health, nutrition, and agricultural development in Nigeria’s national agenda.
In a statement by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima said: “we are deeply committed to addressing the pressing developmental challenges facing our nation, particularly the significant malnutrition crisis”.
He emphasised the Federal Government’s dedication and urgently working to secure locations for maize production under the Telemaze programme.
VP Shettima, promising swift action to the Gate’s Foundation on import permits for certified seeds, the VP said, “We recognize the critical importance of food security and industrial agricultural development. The Cassava Accelerator programme, in particular, holds immense potential for our economy.
“We are pursuing a whole-of-government approach to digitisation and data exchange systems, which we believe will revolutionise our public services,” he added while reiterating the government’s focus and commitment to digital transformation.
“With the expertise” of Nigeria’s ministers, “and the continued support of partners like the Gates Foundation,” the nation remains confident in its “ability to drive meaningful change and improve the lives of all Nigerians.”
In his response, President of the Global Development Programme at the Gates Foundation, Dr. Christopher Elias, said the Foundation is burdened with worries of the severe flooding in Borno, and is “committed to supporting Nigeria in times of crisis.”
Speaking of Polio, the Foundation said, “We’re impressed by the national task force’s efforts to eliminate variant polioviruses by year-end,” Dr. Elias noted.
Also, President of Global Growth & Opportunity Division at the Bill & Melinda Gates Foundation, Rodger Voorhies, detailed plans for scaling up drought-tolerant maize production and advancing the Nigeria Cassava Investment Accelerator programme emphasizing that a $5 million grant has been approved for Lagos Business School and partners to develop the agricultural economics of industrial cassava.
In his words, “Industrial cassava presents a multi-billion-dollar opportunity for Nigeria,” Voorhees stressed.
He requested import permits for 5,000 metric tons of certified GMO maize seed to build a foundation seed system in Nigeria.
Business
Managing, Leading, Building Institutions And Sustainability
The two primary tasks of a top-level leader are to exploit and explore the organisation with people for now and in the future.
By Babs Olugbemi
One of my concerns for leaders is their capacity to be ambidextrous. Regardless of years of experience, knowledge, and leadership capacity, the lack of a clear distinction between managing and leading on the one hand, leading and building institutions on the second layer, and ultimately focussing on sustainability is a significant threat to successful leadership change.
I have followed events and people at C-suites, coached some, and developed frameworks for leadership development. Based on the personalities and styles of the new leaders, I have confirmed my fears about leadership sustainability in most African organisations.
“Successful leaders can aptly differentiate themselves and their roles without necessarily seeing activities as performance, focussing on what is required of them with appropriate tenacity and influence.”
The challenge for leaders is how to lead for the present and future without losing sight of the stakeholders’ immediate performance expectations. Successful leaders can aptly differentiate themselves and their roles without necessarily seeing activities as performance, focussing on what is required of them with appropriate tenacity and influence.
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Afrocentric colonialism: The new face of African oppression
Health: Genotype And Compatibility, Phenotype, Blood Groups And DNA
In my walk as a leadership coach, I have keenly observed leaders who are managing rather than leading. Managing involves ensuring that processes achieve their intended outcomes. Leaders are above managing and should focus on creating an enabling environment for innovation, inventions, and team collaboration. The primary role in leading is not to monitor process outcomes, though critical to the company’s overall objectives, but to align corporate values with the people’s aspirations to create an engaged and ownership-thinking mindset ready to take on challenges and explore opportunities. An alignment of corporate and personal goals will not only deliver the present performance expectations. Still, it will also incubate innovations to adapt to future market demands and the sustainability of the business.
Unfortunately, the capacity for ambidexterity is rare and often marked by leaders’ exposure, approach and styles, perception, and perspective of their roles in the organisation. A leader with a wrong foundation in these areas is set for failure and awaits unfavourable decisions from the board of directors. A top-level leader might manage their teams instead of leading them. Not all leaders can combine leading for the present with building institutions. However, anyone able to submit themselves to an institution-building mechanism can champion sustainability. Aside from being a leadership coach, I help leaders achieve sustainability.
Mathematically, creating an ambidextrous organisation is beyond leading. It is to lead and build an institution that focuses on sustainability in all aspects of the organisation—employee fulfilment, customer retention, strategy effectiveness, performance evaluation, stakeholder management, process improvement, and goal congruence.
In a nutshell, the role of successful leaders in ambidextrous organisations is striking a balance between exploiting current assets and capabilities to ensure short-term success and allocating enough energy and resources to exploration to ensure future viability. The two primary tasks of a top-level leader are to exploit and explore the organisation with people for now and in the future. The two seemingly contradictory aspects—exploitation and exploration—encompass different strategies and processes and have different targets and outcomes (March 1991; O’Reilly & Tushman, 2004; O’Reilly & Tushman, 2013).
O’Reilly and Tushman described the two concepts as follows:
- Exploiting: Exploiting involves building on an organisation’s achievements and maximising returns on previous investments. It focuses on responding to current business demands to remain efficient and competitive within an established market niche, as well as on maintaining an existing customer base and stakeholder relationships. Examples of exploiting are activities focused on continuous improvement, benchmarking, and redesigning business processes.
- Exploring: Exploring focuses on expanding an organisation’s knowledge and capabilities, pioneering new products and services, and discovering and venturing into untapped markets.
The common area of practical bottlenecks in exploiting and exploring in organisations is a need for foundational trust and cohesion among the resources, especially the human capital, which are often treated as costs rather than assets to the organisations. Among all the factors of production, only humans can be ambidextrous with the capacity to think about changes in economic parameters and adjust their behaviours to match the time, content, and contextual requirements.
While organisations might have the resources to deploy in fighting competition, technology to obtain first-mover advantages, and production capacity to maximise output from input, none is compared with the potential of an engaged workforce.
Therefore, for leaders to be successful, they must refrain from operating in the realm of managing. They should operate in the capacity of institution builders, with the mindset of creating sustainable leadership and growth with people first and other factors of production second.
Consequently, only the leaders who prioritise their people over profits, pride, and organisational arrogance will be successful in the long term.
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