Business
LOCAL AND WORLD NEWS, BUSINESS, SPORTS AND ENTERTAINMENT HEADLINES FOR TODAY SUN. 27 MAY 2018


Tracking Times – Headlines
LOCAL HEADLINES:
DAILY POST
Biafra: Declaring IPOB terrorist group while herdsmen carry AK-47 unjust – Methodist Prelate Uche
APC crisis: Saraki speaks on attending nPDP meeting
2019: Buhari has only performed well in noise making for three years – Tanko Yakasai
Why 2019 election may not hold – SDP
Benue community leader murdered
APC: Saraki, Dogara, Dasuki, Govs, lawmakers attend nPDP meeting [Full list]
APC is Nigeria’s biggest problem – PDP
Obasanjo vs Buhari: Oby Ezekwesili reacts to $16bn saga
You made Nigeria a laughing stock – Presidency fires back at Jonathan
Obasanjo vs Buhari: Keep quiet, you caused Nigeria’s problem – Na’abba bombs ex-president
Obasanjo vs Buhari: EFCC begins probe of ‘$16billion spent on power projects’
Herdsmen attacks: CAN reveals reason behind Benue, Taraba killings
Jonathan reacts to Buhari’s ‘lazy youths’ comment
Presidency releases document detailing Buhari’s achievements in three years [READ]
THE AUTHORITY
Nigerian stocks lose N299b in 2 days
EFCC Begins Probe Of $16 Billion Spent On Power Projects By Obasanjo
Kaduna Senators Hunkuyi, Shehu Sani to dump APC
Herdsmen kill two in Benue community
Stop frustrating our anti-corruption fight ‘ FG warns Transparency Intl
FG declares Tuesday public holiday
Olisa Metuh’s trial continues in absentia
North, South Korea leaders meet over Trump
U.S. warns Assad over planned attack of South Syria
TRIBUNE
Southern, Middle Belt leaders reject Buhari’s water bill
Insecurity: 2019 elections may not hold ‘SDP
Osinbajo keeps mum as Buhari declares VP position threatened
Presidency receives 2018 Budget from NASS
Mystery briefcase linked to $1.1bn bribery case in Nigeria
Do they know it’s Children’s Day
Why I switched from Fuji to hip hop ‘Oliks Omoba
Tears as TGMA floats Aisha cancer foundation
Tinubu, Ajomale behind Lagos APC illegality ‘Factional leader, Oki
Buhari has performed below average ‘Shekarau
We’ll show Buhari in 2019 ‘Wada Nas
THE SUN
Why Buhari is not performing ‘ Gen Jemibewon
Herdsmen killings: Why the Catholic church protested ‘ Monsignor Osu
2019: Why IBB is supporting SDP ‘ Prof Adeniran, Ex- Education Minister
Real Madrid wins 13th Champions League trophy
Russia 2018: Rohr bans Russian girls, prostitutes in Eagles Camp
Plateau remains home of football talents in Nigeria ‘Longbap
The thrills, frills of The Sun World Cup seminar
New 7 Div Army GOC charges troops to rout Boko Haram
Court orders Abia Govt to streamline taxes payable by traders
Fayose is a magician, patriot, says Afe Babalola
Children’s Day: Instill discipline in children, Kalu charges parents
Anxiety in Kebbi, as Jokolo returns to Supreme Court in bid to reclaim stool
Dickson resolves Amassoma crisis
Controversial $1billion security: Nasarawa Assembly approves deduction from ECA
Gunmen assassinate Benue chief
NEW TELEGRAPH
Olafeso: Buhari out of touch with reality
Prove your innocence, Martins tells Buhari
Direct your members to pick PVCs, INEC begs religious leaders
Jonathan warns Buhari against rigging Ekiti poll
Nigeria more transparent under Buhari ‘Lai Mohammed
Woman appeals to IG over missing husband
UNICEF pledges to end violence against children
Safety of Nigerian child nonnegotiable, says Saraki
Don’t vote APC, PDP in 2019, Ezekwesili tells Nigerians
Killings: We won’t vote irresponsible govt in 2019 ‘Methodist Prelate
WORLD HEADLINES:
CNN
Trump suggests Kim meeting back on as South Korea says North ‘committed to denuclearization
Real Madrid beats make history in the Champions League
Ireland’s yes voters celebrate a ‘leap forward’ in landmark vote on abortion
Ireland decides: Reactions from Dublin
Curious case of the White House official Trump says ‘doesn’t exist
CNN anchor: Trump’s back and forth is causing whiplash
Human Spaceflight Fast Facts
Real Madrid the Kings of Europe, again
Real Madrid the Kings of Europe, again
French Open: Kvitova’s remarkable recovery
US lost track of 1,500 immigrant children, but says it’s not ‘legally responsible
At least 22 killed in Uganda bus crash
Alan Bean, the 4th person to walk on the moon, dies at 86
Freeman: ‘I did not assault women
Hawaii volcano: More evacuations ordered
Trump: US prisoner in Venezuela freed
North and South Korean leaders meet again
Irish strongly in favor of ending abortion ban, exit poll shows
See photos inside Korean leaders’ second meeting
Living ‘dream’ after knife attack
Fear and failure: How Ebola sparked a global health revolution
BBC
North Korea’s Kim ‘set on’ Trump summit
Alan Bean, moon-walking astronaut and artist, dies aged 86
Real Madrid fans celebrate Champions League victory
Female sommelier on wine tasting and mansplaining
Irish abortion referendum: ‘We made history
Fierce blaze in Bordeaux, France, forces evacuations
Tomorrow’s cities: Google’s Toronto city built ‘from the internet up
Your pictures: Golden
I want to be the first wheelchair user in space
Formula 1: Axcil Jefferies, Africa’s first black F1 driver
Boots owner denies overcharging NHS for cancer mouthwash
Mikel Obi: Nigeria ‘happy’ with World Cup underdogs tag
South Africa prepares to host Cosafa Cup tournament
England can still win Test, says Buttler after fightback against Pakistan
Ronaldo to ‘give answer in days’ on Real Madrid future
A tale of two Red Bull drivers – plus all you need to know about the Monaco GP
South Africa’s Semenya sets fastest 800m time of year at Eugene Diamond League
Champions League final: Real Madrid 3-1 Liverpool – Van Dijk & Lovren reflect on defeat
Champions League hero Bale to have talks about Real Madrid future
Champions League final: Real Madrid 3-1 Liverpool – best social media reaction
Gareth Bale on his Champions League final goal for Real Madrid
AFP
Trump and Kim raise summit hopes after days of brinkmanship
Rainbow flags and high heels: S. Korea holds debut drag parade
Morocco boycott revives debate over business, politics links
‘Our families would be killed’: Rohingya brace for monsoon
Golden age for Kylie as Australia’s pop princess turns 50
American, wife freed from Venezuela jail arrive in US
NHL set for fairy-tale final between Knights and Capitals
Starbucks to educate staff against racial bias, set example
Brilliant Bale breaks Liverpool hearts as Real Madrid win Champions League
Salah injury ‘serious’, says Liverpool boss Klopp
Ronaldo’s future casts cloud over Real’s historic treble
Qatar bans Saudi, UAE goods from stores
Moonwalking astronaut-artist Alan Bean dies at 86
Korean leaders meet to salvage Trump-Kim summit
AL JAZEERA
‘Feels amazing’: Joy as Irish overturn abortion ban
Ethiopia pardons opposition leader on death row
Real Madrid beat Liverpool to win Champions League
Kenya’s Ogiek celebrate anniversary of landmark rights ruling
Pakistan announces date for general elections
Cricket match-fixers caught in the act in Sri Lanka
US lawmakers call Pentagon to probe torture allegations in Yemen
Ireland abortion referendum: ‘Monumental day for women’
Cyclone Mekunu: Oman braced for massive storm
Palestinians risk losing Jerusalem ID over Israel loyalty law
BUSINESS HEADLINES:
$2bn Off-grid Power Initiative Attracts New investors – Leadership
“La Decimotercero” For Real Madrid After Beating Liverpool In The Champions League Final – Forbes
“La Decimotercero” For Real Madrid After Beating Liverpool In The Champions League Final – Forbes
A third of US women now get C-sections ‘ and the world’s leading health organization says that’s way too many – Business Insider
Amazon Has Officially Saved ‘The Expanse,’ Will Air Season 4 – Forbes
An insulated bottle holder that keeps your beer colder for longer is selling at a rate of 2.5 units per minute ‘ and it’s on track to earn over $15 million this year – Business Insider
Anathema! – BusinessDay
Another Smart Luggage Startup Fails Following Tighter Industry Regulation – Forbes
Bookstore Sales Are Up Again – Forbes
Box Office: ‘Book Club’ Holds, ‘Show Dogs’ Stays Dead, ‘Black Panther’ Turns 100-Days Old – Forbes
Box Office: ‘Solo: A Star Wars Story’ Disappoints With Mere $36M Friday – Forbes
Boxing Biz: The 5 Big-Money Fights We Want For The Rest Of 2018, Adrien Broner’s Purse History – Forbes
BTS’ ‘Fake Love’ Video Hits 100 Million Views In Record Time For K-Pop Group – Forbes
BTS’ ‘Fake Love’ Video Hits 100 Million Views In Record Time For K-Pop Group – Forbes
Casper, the internet’s favorite mattress, is celebrating Memorial Day early with a big sale – Business Insider
Champions League Final Money Winners – Forbes
Children’s Day: What hope for the Nigerian child – BusinessDay
Christian women must play the role of interceding for family, leaders and the nation – BusinessDay
SPORTS
#PSLAwards: Nedbank Cup Player of the Tournament – Kickoff
#PSLAwards: TKO Player of the Tournament – Kickoff
2018 World Cup: Russia’s Security To Be Put ToThe Test – Leadership
A tale of two Red Bull drivers – plus all you need to know about the Monaco GP – BBC
ACC Baseball Tournament 2018: Final Four Scores, Championship Bracket, Schedule – Bleacher Report
AIPS President arrives PH for Rivers Football Academy foundation-laying – New Telegraph
All Whites As Fabregas Quits Bachelorhood – Daily Independent
Andre Iguodala Out for Game 6 vs. Rockets After Knee Injury – Bleacher Report
Anthony Joshua wants to bring Wilder to the UK – Daily Trust
Anxiety As French Open Serves Off – Daily Independent
Asaba 2018 AAC: Nigeria’s preparations in disarray – Vanguard
Astymin backs Eagles for glory in Russia – Punch
Atletico Madrid friendly good exposure for Home-Based Eagles Agara – Daily Trust
Bale brilliance powers Real to 13th European crown – Punch
Bale the hero as Madrid grab 13th UCL title – Punch
Bale to discuss Real Madrid future after scoring ‘best goal ever – Yahoo
Basketball blues – Vanguard
Bora had no plans for Eagles at 98 WCup Taribo – Punch
ENTERTAINMENT
#Afrorepublik: Tiwa Savage, Skepta, Tekno, Mr Eazi all on call as Wizkid makes History – Bellanaija
#BBNaija: Alex seals deal with Naomad talent management firm – Gistlover
Acting has opened difficult doors for me ‘Omowunmi Dada – The Sun
Actress Stella Damasus praises hubby – Nigerian Pilot
Alex Iwobi relishes great times – New Telegraph
Alex seals deal with Naomad talent management firm – Information Nigeria
Anticipate! Linda Ikeji presents ‘Highway Girls of Eko’ TV Show | Watch Teaser – Bellanaija
Being emotionally, mentally, or physically abused just to crack a fake smile on the gram is not happiness’ – Nicki Minaj dishes out relationship advice – Linda Ikeji
BN Hot Topic: Falz’ ‘This is Nigeria’ ‘ Brilliant or Pedestrian – Bellanaija
Bossladies Nest 52: Yearning hearts – New Telegraph
Breaking News: Real Madrid Trash Liverpool 3 -1 To Win The UEFA Champions League A Record Breaking 3 Times In A Row – Information Nigeria
Buhari: President terminates $195m ‘questionable’ contract promoted by Amaechi – Pulse
Cee-C, Chucks d General, Others Support Beauty Queen’s Street Clean Campaign – Leadership
Champions League: Real Madrid beat Liverpool 3-1 to win 3rd title – Pulse
Chimamanda Ngozi Adichie receives Honorary Degree from Bowdoin College – Bellanaija
Ebola: DRC, IOM, WHO partner to stop virus spread to neighbours – Pulse
Entertainment: Jelena Ostapenko returns to the French open a hero at home in Latvia – Pulse
Federal Government Declares Tuesday, May 29th A Public Holiday – Gistlover
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
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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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Biafra5 years ago
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Business4 years ago
FUEL: PPPRA removes new petrol price post as NNPC insists no hike
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Suspected Fulani militia kill two in fresh Taraba attacks
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