Business
LOCAL AND WORLD NEWS, BUSINESS, SPORTS AND ENTERTAINMENT HEADLINES FOR TODAY TUE. 22 MAY 2018

Tracking Times – headlines
LOCAL HEADLINES:
VANGUARD
MASSOB insists on Biafra
Igbo summit: Security overwhelms IPOB as Ohaneze lists Igbo interests
Army, other security agencies patrol S’East cities on show of force
Security foils IPOB’s plan to disrupt Igbo summit on restructuring
Catholic prayer, protest holds today
INEC to engage 15,000 corps members in poll
Adeyeye denies joining APC
Ekiti APC gov primary was a charade, says group
Nigeria’s oil output drops by 150, 000 bpd under Shell’s force majeure
Farmers, herdsmen clashes force reversal of upward GDP trend
PREMIUM TIMES
Amidst IPOB threat, Ohaneze holds restructuring summit
Soldiers kill 35 armed persons in Benue, Taraba, Nasarawa, Zamfara ‘ DHQ
Nigeria v Atletico Madrid: Police deploy 424 personnel for security
Nigeria, others to record 3.4% economic growth ‘ IMF
Benin accident victims not JOHESU members ‘ Official
Russia 2018: Iwobi, Onazi, others hit Eagles camp
ICPC denies clearing civil servant of fraud
Magu denies nursing governorship ambition
I was bus conductor for almost a decade ‘ Small Doctor
National Mourning: Group dares police, to hold rally at Abuja unity fountain
PDP to Buhari: Respond to issues raised by Timi Frank
Suspected herdsmen kill SSS officer, soldier in Benue ambush
Falana seeks visa ban on Nigerian public officials involved in money laundering
Court orders arrest of Buhari’s probe panel investigator
DAILY TIMES
Ohaneze Ndigbo demands restructuring of Nigeria
Offa robbery: Two gang leaders nabbed, say police
Three suspected kidnapper, ritualist arrested in Lagos.
Police nabs medical doctor for Cybercrime
I Will Continue To Speak Against Injustice, Bad Governance, Says Dino Melaye In A Thank You Message To Nigerians, Others
Delta: APC congress begins in Asaba
[OPINION] I Want To Be Africas Biggest Philanthropist Aliko Dangote
Breaking: Metuh collapses in court
Niger Delta group lauds FG over take off of Maritime University
Agbakoba, Balewa, others to adopt political platform for NIM in Abuja today
Atiku denies visiting Jang in prison
China Calls On All Mosques To Raise National Flag
PEOPLES DAILY
Ganduje extends olive branch to Kwankwaso, calls for truce
Nigeria-China currency swap: 41 remain banned ‘ CBN
6 killed, 500 houses destroyed as windstorm hit Katsina
Why corruption cases are delayed, by Judicial C’ttee
2019: Buhari leads walk for credible elections in Abuja
Syrian’s kidnap: Slain Policemen families get N1m each
How we’ve come under attacks by Bassa since 1980s ‘ ENDA
UN appoints Gambari on expert team to implement Durban declaration
Deaths averted as suicide bomber caught inside Mosque
Armed bandits abduct housewives in Birnin Gwari
Kaduna LG Polls: El-rufa’i accuses PDP of cheating, threatens legal action
Taraba APC congress suspended
Confusion as two State Exco emerge in Adamawa APC parallel state congress
WORLD HEADLINES:
CNN
Japanese climber dies on eighth Everest attempt
Ex-employee sues Uber for sexual harassment
Is North Korea trying to destroy nuclear program evidence
Irish abortions happen; they just don’t happen on Irish soil
Starbucks’ new all-are-welcome policy: Now what
White House grows skeptical of Trump-Kim summit
North Korean waitresses were tricked into defecting in 2016, manager says
Trump unleashes new political earthquake with FBI spy charge
An egg a day might reduce your risk of heart disease, study says
How US school shootings compare to other countries
Body of missing Filipino woman found
Italy’s next prime minister is a political novice
Rare look at Japan’s ‘lost’ past
America’s cereal, soda and soup companies in turmoil
Dozens of migrants rescued in Brazil after 35 days at sea
Statewide alert declared as virus kills 3 in India
4-year-old in superhero cape feeds city’s hungry and homeless
Aides privately concerned about North Korea’s harsh rhetoric and the US President’s eagerness
Pence: North Korea will end like Libya only if
US wary of North Korean hackers’ prowess ahead of meeting
Former negotiator: North Koreans are studying Trump
BBC
Living fossil’ giant salamander heading for extinction
Why Spanish speakers in US are getting into trouble
Champions League: Test your knowledge of the 2017-18 competition
Champions League 2018: The best moments – from Roma’s comeback to that Ronaldo goal
Would a budget cap save the once mighty Williams team
Iran sanctions: Zarif condemns Pompeo announcement
Australian archbishop Philip Wilson guilty of concealing child sex abuses
North Korea summit: Pence warns Kim Jong-un not to ‘play’ Trump
Cuba plane crash: Grettel Landrove becomes 111th victim
Turkey coup trial: Court to jail 104 ex-military for life
Venezuela election: Fourteen ambassadors recalled after Maduro win
Hawaii volcano: When your home’s next to a lava flow
The jungle village hooked on their phones
US man keeps dog safely inside house he burgles
US policeman performs roadside C-section on wounded deer
Prison without guards or weapons in Brazil
Emenike to bounce back after ‘sad’ loan at Las Palmas
The Gambian village transformed by graffiti
Patients lose hip replacement court case
BBC presenter Rachael Bland reveals ‘incurable’ cancer
Nanoparticles from tea leaves ‘destroy lung cancer cells
AL JAZEERA
‘Who are you?’ Iran hits back at US demands
Mahmoud Abbas ‘suffers from pneumonia, condition improving’
Burundi vote allows president to extend time in power
British-Iranian jailed in Tehran faces ‘new charge’
Syria army ‘pushes ISIL out’ of south Damascus district
Italy populist parties edge closer to government
US vows ‘painful Iran sanctions’, lays out steep terms
Paraguay opens Israel embassy in Jerusalem
FBI may testify in Malta journalist’s murder trial
German footballers in bid to ease Erdogan photo row
BUSINESS HEADLINES:
12.3% of the WisdomTree U.S. Total Dividend Fund Seeing Recent Insider Buys – Forbes
15 Ways To Encourage Creative Idea Sharing From All Team Members – Forbes
18 months after, Ikeja Hotel shares resume trading – Punch
2018 Is Shaping Up as a Pivotal Year for African-American Entrepreneurship – Entrepreneur
2018 Restaurant Tech EcoSystem: Power Shift Underway with Decrease of the Data Gap – Forbes
3 Inequality Lessons From The Royal Wedding – Forbes
4 Solid Ways To Boost Your 401(k) – Forbes
5 Questions To Ask Yourself Before Buying Precious Metals – Forbes
5 Things You Should Know About Contesting A Will – Forbes
5 Ways to Lead More Mindfully – Forbes
5 Ways To Pay Off Credit Card Debt Faster – Forbes
6 Fine-Food Events Happening In London This Spring – Forbes
6 Signs Your Business Idea Is Ready for Financing – Entrepreneur
7 Steps To Clarify Your Message And Connect With Your Audience – Forbes
8 mistakes you’re making when grilling chicken – Business Insider
9 Steps To Getting CEOs Serious About Gender Balance – Forbes
9 surprising reasons you’re always hungry – Business Insider
9th Circuit Rules For Re-Sentencing Of Attorney Serving 10-Year Prison Term – Forbes
SPORTS
14,000 for a Champions League final ticket’ Fans complain of ridiculous resale prices – BBC
1st-Round Pick Billy Price, Bengals Agree to 4-Year Rookie Contract – Bleacher Report
2018 World Cup Group Odds: France, Brazil the Biggest Group Betting Favorites – Bleacher Report
Ajax Star Ready for Shock Move to Serie A After Snubbing Spurs & Man Utd – FTBpro
Alex Ovechkin, Capitals Force Game 7 with Shutout Win vs. Lightning – Bleacher Report
Antonio Conte: Chelsea squad must be ripped apart to challenge for trophies – Daily Trust
Argentina snub Icardi – Punch
Atletico friendly ‘ll give fringe Eagles exposure ‘ Salisu – New Telegraph
Atletico Madrid Arrive For Friendly Vs Super Eagles B – Complete Sports
Atletico Madrid Name Squad For Super Eagles Friendly – Daily Independent
Atltico de Madrid arrive in Uyo ahead of Super Eagles friendly – Vanguard
Bafana Bafana striker Lars Veldwijk set to join Bulgarian side CSKA Sofia – Goal
Belgium leave out Nainggolan for World Cup – Punch
Brad Stevens: Doesn’t Get Better Than Best 2 out of 3 to Reach NBA Finals – Bleacher Report
Brazil must embrace World Cup favourites tag – Edu – Goal
Buffon to decide future in a week amid PSG speculation – Goal
ENTERTAINMENT
15 Revenue-Generating Agencies fail to account for N8.1tillion under Jonathan” Lai Mohammed says – Linda Ikeji
20-year Old Girl Recounts Heartbreaking Romance With Facebooker, Fears HIV – Information Nigeria
2019: Obasanjo Meets Afenifere Leaders In Ondo State – Information Nigeria
37,062 Candidates Finally Shortlisted In New Police Recruitment ‘ PSC Reveals Latest Updates – Information Nigeria
5 Lessons We Can All Learn From Meghan & Harry’s Love Story – NET
A company that raised over $3 million through crowdfunding has shut down, and nearly everyone who paid for its $200 headphones lost their money – Business Insider
A Review Of The Multi-million Naira Bentley Mulsanne Linda Ikeji Ordered For Herself And Unborn Son (Photos) – Information Nigeria
Adefolake Adekola: Effects of Toxic Metals In Your Food & How to Avoid Them – Bellanaija
African woman nabbed at Bangkok airport with 1.16 kilos of heroin in her stomach – Linda Ikeji
Alleged Fraud: Jerry Gana Other Politicians Visit Ex-Gov. Jang In Prison – Information Nigeria
American Singer Beyonc Buys Her Own Church In New Orleans – Nigerian Pilot
Arteta Could Reject Arsenal Job Following New Development – Information Nigeria
Aso Rock: A brief walk into an abode of ancient victory – Pulse
Atletico Madrid To Arrive Nigeria Today Ahead Of Friendly With Super Eagles – Information Nigeria
Bad Market: Nigerian army nabs 8 armed bandits – Pulse
Bambam & Teddy-A Look Adorable On The Cover Of Celebrity Magazine (Photos) – Information Nigeria
Barack And Michelle Obama Sign Netflix Production Deal – Channels TV
Barack and Michelle Obama signed a deal with Netflix to make original shows and movies (NFLX) – Business Insider
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.
READ ALSO: Leadership, not God responsible for Africa’s poverty
Afrocentric colonialism: The new face of African oppression
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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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News5 years ago
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News6 years ago
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