Business
LOCAL AND WORLD NEWS, BUSINESS, SPORTS AND ENTERTAINMENT HEADLINES FOR TODAY SUN. 3 JUNE 2018

LOCAL HEADLINES:
VANGUARD
On Biafra and Democracy
Anxiety in APC : Buhari, nPDP leaders negotiate over 10 states’ votes
WCC prays against famine in Nigeria, others
IT firm partner Command Day Secondary School, Ojo
Bloodshed averted in Enugu APC as rival faction forcefully takes over state secretariat
Seventh Day Adventist’s succour for IDPs in Benue
Army kills 10 Boko Haram, recovers N2m in Borno
Aboderin: Fayemi, Obasa, Keyamo condole with family, Punch
Man stabs daughter to death in Anambra
Ogun ex-PDP guber candidate joins Obasanjo’s ADC
Okowa administration in three years glaring ‘ Fred Oghenesivbe
Uzodinnma appointed BoT member of APC
National policy on plastic waste management underway, says minister
Why Nigerians no longer rage over kerosene scarcity ‘Matrix Energy
US man built deadly secret tunnels over ‘N.Korea’ fear
PILOT
Probe Security Vote
86,000 voter cards await collection in Bauchi ‘ INEC
South-East APC chieftains bemoan disrespect for Okorocha
MASSOB: Arrest me, not my members, Uwazuruike dares police
Kwara govt distances self from demolished PDP guber aspirant’s house
Adamawa Assembly may extend tenure of council chairmen
Abia to provide light for rural communities, investors through renewable energy
Not Too Young to Run: Balarabe Musa says youths are not prepared for leadership
Okowa, Ekweremadu describe education as solution to Nigeria’s challenges
Media urges a N r P to dissuade youths from money politics
e kiti a PC chieftain, Bamidele, 4 others shot at Fayemi’s mega rally
fG Calls For Synergy Over lead Poisoning Outbreak
NEW TELEGRAPH
Eagles: Flying Nigerians’ hopes in Russia
Catholics’ll keep national security on front burner ‘Archbishop Martins
Democracy Day: Nothing to celebrate, says lkedife
Three Nigerian pharmacists, others charged with illegally distributing $9.6m drugs in US
23 killed in Zamfara fresh attack, 3 in Plateau State
World’s most expensive engagement ring cost N3bn
Sterling Bank ‘undresses’ Eyo in Lagos
75,000 Okada riders to lose jobs in Anambra
Air chief vows to flush out regrouping militants
Osun partners Rotary to reduce maternal, child mortality rates
Illicit drugs: Lecturer suggests death penalty for traffickers
Nigeria has highest maternal mortality rate
2019: NSE stocks losing taste as risk-averse investors pull out
LCCI wants more Chinese auto makers in Nigeria
THISDAY
Despite Military Presence, Killings Continue as Bandits fell 15 in Zamfara
APC Power-play Continues as National Convention Committee Secretary Resigns
Insecurity Compels Military to Keep Battle-Fatigued Soldiers in North-east
Nigeria’s Stock Market Loses N908 Billion in One Week
Police Arrest Politician Fingered in Shooting at Ekiti APC Rally
Minister: Ogoni Cleanup Starts Two Years After
Ghana Denounces Jonathan over Comment on Nigeria
Bauchi Gov Nominates Chief of Staff as Deputy
Ortom Blames Challenges for Poor Delivery of Democratic Dividends
Three Nigerians Found Dead in New Delhi Flat
WORLD HEADLINES:
CNN
No sanctions relief without steps to denuclearize, Mattis tells N. Korea
Thousands of acres ablaze in western United States
No sanctions relief without steps to denuclearize, US Defense Secretary tells Pyongyang
Opinion: Is Trump giving North Korea a pass on nukes
Six major allies blast US over tariffs
NYT: Trump lawyers argue President can’t obstruct Russia probe
Lawyers acknowledge Trump dictated son’s statement on meeting with Russians
Trump says Senate Democrats are ‘resisting the will’ of voters
Germaine Greer’s dangerous ideas about rape
Nearly 100 women suffered under dancing doctor’s scalpel: lawyer
Could this wean Kuwait’s economy off oil
Five Star Movement supporters celebrate in Rome
Gaza militants fire rockets towards Israel
Europe may be on the verge of a big new crisis
Spain’s new Prime Minister sworn in
Five Star Movement supporters rally in Rome to celebrate new governmen
Who is Italy’s new Prime Minister
From calling rape ‘bad sex’ to Roseanne’s vitriol, this was a jaw-dropping week
CNN sex-for-grades report prompts Senate investigation
Lie-detector tests for Kenyan officials in corruption crackdown
Uganda slaps social media tax on WhatsApp, Facebook
AL JAZEERA
Ethiopia set to lift state of emergency two months early
Protests against IMF-backed tax reform bill continue in Jordan
Pedro Sanchez sworn in as Spain’s new PM
Fury in Kashmir after youth killed by police vehicle
Saudi Arabia reshuffles cabinet with focus on culture
Israeli forces kill Palestinian in occupied West Bank
Japan: Don’t reward N Korea for only agreeing to talk
US isolated as UN proposal to condemn Hamas voted down
Egypt’s Sisi sworn in for second term in office
Catalonia government sworn in, ending Madrid’s direct rule
BBC
Ethiopia cabinet drafts early end to state of emergency
England 2-1 Nigeria
G7 ministers criticise US tariffs and warn of trade war
Nicaragua police end church siege after day of terror in Masaya
Jordanians in third night of tax rise protests
Njambi McGrath – the Kenyan comic making Brits laugh at themselves
US teacher ‘who fed sick puppy to snapping turtle’ charged
Venezuela frees 40 jailed activists and politicians
Tunisia World Cup squad: Leicester City’s Benalouane in 23-man squad
Prostate cancer immune system drug results could be ‘spectacular
World Cup 2026: Morocco to face joint United States, Mexico & Canada bid
Cuba to begin constitutional reforms to formalise ”opening-up
England v Nigeria: Visiting players relax by singing at the piano before friendly
Rikke Schmidt Kjaergaard on surviving locked-in syndrome
Tunisia 2-2 Turkey
Thousands attend funeral for Palestinian nurse killed in Gaza
North Korea’s human rights: What Trump and Kim won’t talk about
Letter from Africa: Mali ‘Spiderman’ is the superhero of our modern age
Letter from Africa: Mali ‘Spiderman’ is the superhero of our modern age
PC Sorcar: India’s ‘maharajah of magic’ who terrified the UK
The online war between Qatar and Saudi Arabia
BUSINESS HEADLINES:
12 of the best podcasts to listen to while traveling this summer – Business Insider
15 books Bill Gates says you should read this summer – Business Insider
2019: NSE stocks losing taste as risk-averse investors pull out – New Telegraph
4 Surprising Side Effects of Electric Autonomous Vehicles – Forbes
A New Slice of Retail: Buy a Bed, Get Pizza for a Year – Forbes
Africa should deploy Sovereign Wealth Fund in infrastructure ‘ Adesina – Punch
Amazon is trying to transform grocery shopping like it did retail – Business Insider
Bernstein used AI to dig through hundreds of earnings-call transcripts ‘ and its findings shed valuable light on what Wall Street really looks for in companies – Business Insider
Binatone marks 60th anniversary with free product gifts – New Telegraph
Challenges provide moments of growth and learning ‘ O’Yoma – Punch
De-risking the Port Harcourt investment climate – BusinessDay
Demurrage charges: NSC seals Cosco Shipping office again – New Telegraph
Don’t panic over NSE’s bearish trend – Punch
EFCC Boss Magu says Some Nigerian Banks On Verge Of Collapse – Financial Watch
Electrification of vehicles growing in India, China, Europe – New Telegraph
ExxonMobil’s N13bn investment and long term economic benefits in A/Ibom – BusinessDay
Fans Should NOT Pick All-Star Lineups – Forbes
FG targets 8m tonnes of rice in 2018 wet season – Daily Trust
SPORTS
4 Key Battles England Stars Will Compete in for Starting Places for the Three Lions in Russia – FTBpro
5-Star OT Prospect Kenyon Green Commits to Texas A&M over Alabama, LSU, More – Bleacher Report
Abayomi, Daniel win Champion Bowl qualifiers – Punch
ABODERIN: MAN WHO CHANGED FACE OF WOMENs BASKETBALL – Punch
Aboderins death, big blow to basketball Ezinne-Briggs – Punch
Adepoju: England Defeat Was Wakeup Alert For Super Eagles – Complete Sports
Alex Ovechkin, Capitals Grab Game 3 Win vs. Golden Knights; Lead Series 2-1 – Bleacher Report
Aminu To Represent Team Africa In 2018 NBA Game – Leadership
Austria Beat Germany 2-1 – Osun Defender
Austria stun Germany in friendly – Kickoff
Bayern Munich ready to sell Boateng, Alcantara, Arturo Vidal – Daily Trust
Bayern Munich target Ligue 1 superstar – Kickoff
Belgium, Cristiano Ronaldo-Less Portugal Play Out Scoreless Draw in Friendly – Bleacher Report
Belgium, Portugal share the spoils – Kickoff
Bould faces exit as boss decides Arsenal staff – Kickoff
Clay Matthews Hit by Line Drive at Softball Game, Taken to ER with Nose Injury – Bleacher Report
College Baseball Regional 2018: Results, Highlights and Bracket from Saturday – Bleacher Report
Davids: Look at the bigger picture – Kickoff
ENTERTAINMENT
“The Heir Apparent”: Richard Mofe-Damijo, Joseph Benjamin star in Steve Ogbaro’s new flick – Pulse
A broken engagement is better than broken marriage ‘Destiny Amaka – New Telegraph
Aba Tailors should have produced the Super Eagles Jerseys ‘ Ben Bruce – Information Nigeria
Actress Ejine Okoroafor to BBNaija housemates: Stop fighting among yourselves, let love rule – Vanguard
Adorable photos of Banky W and Adesua Etomi twinning in their Nigerian jersey at Wembley stadium – Information Nigeria
BamBam & Teddy A to feature in new Nollywood Movie – Information Nigeria
Banky W, Adesua Support Nigerian Team – Osun Defender
Beauty Bits: Please, please stop using toothpaste for your pimples – Pulse
Billionaire Femi Otedola celebrates his only son, Fewa as he clocks a new year today – Information Nigeria
Bimbo Queens preaches selfless love in ‘Wantin’ Video – Vanguard
Blazer and jeans casual Friday – New Telegraph
Bobrisky slams TV host, Hero Daniels ; says he is not on his level – Information Nigeria
Celebration as Akinwunmi Ambode’s mum clocks 85 – New Telegraph
Celebrity Housemates is a scam’ I’m yet to receive my money ‘ Eniola Badmus – New Telegraph
Churchill Olakunle refutes allegations of violence by ex-lover, Zainab – New Telegraph
Comedian I Go Dye outlines ugly effects of corruption on youths – Vanguard
Concepts of wine pairing – New Telegraph
Damilola Adegbite fires back at fan who said she looks 70, not 18 – Information Nigeria
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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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
PROPHECY: Powerful Prophecies for Mazi Nnamdi Kanu and Chief John Nnia Nwodo by Pst. Maxwell Nnawuihe (Text & Video)
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Biafra5 years ago
BREAKING: Dragon Flag Can’t Come Down, You Must Allow Our Brave Men To Do Their Job – Nnamdi Kanu
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Business8 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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Business7 years ago
Suspected Fulani militia kill two in fresh Taraba attacks
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Biafra5 years ago
VIDEO: Powerful Prophecies for Mazi Nnamdi Kanu and Chief John Nnia Nwodo by Pastor Maxwell Nnawuihe
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News6 years ago
A fatal accident along Benin/Auchi express way has claimed the lives of an entire family while traveling for Christmas.