Business
LOCAL AND WORLD NEWS, BUSINESS, SPORTS AND ENTERTAINMENT HEADLINES FOR TODAY MON. 4 JUNE 2018


Tracking Times – headlines
LOCAL HEADLINES:
NEW TELEGRAPH
Herdsmen kill six children,19 others in Benue
Kwara killings, bank robbery: Saraki, gov gave us firearms, money, vehicles ‘ Suspects
New excise duty rates for tobacco, alcohol beverages take effect
Fayose, Fayemi, APC trade words over shooting
2019: We’ll not rely on money to win, PDP replies Buhari
Airports concession: Int’l airlines to raise fares
Breakthrough as immune system drug treats prostate cancer
DSS withdraws 11 operatives attached to Senate President
Settling electoral disputes through ADR
Nyame: From grace to grass
PILOT
Herdsmen, cultists kill 13 in Benue
Ramadan: Be conscious of the hereafter, Cleric charges believers
Kashamu loses bid to stop judgment execution on extradition
Probe Sen Uzodinma for issuing dud cheque, group urges EFCC
Fayemi plotting to implicate me, PDP leaders with murder ‘ Fayose
FG withdraws Saraki, Dogara’s security operatives
Bida Basin: Oil search still at preliminary stage ‘ Yar’adua
2019 elections: Abysmal failure Buhari’s fear- PDP
Water Resources Bill dangerous for Nigeria ‘ Gov Emmanuel
Offa Robbery!
Boundary dispute: Court Strikes out Olubadan case against Aregbesola
PUNCH
Herdsmen attack, cult clash claim 13 in Benue
Riding unholy G-Wagon on Fayoses bridge in Ado
The challenge of estimated billing
Sack military officers in charge of Boko Haram campaign, Fasehun tells Buhari
Police invite Saraki over Offa bank robberies
More tributes for Aboderin, as sympathisers flood residence
First female chartered accountant, Olakunrin, dies at 80
Attacked Edo farmer battles for survival
Ex-Taraba gov, Nyame, appeals conviction today
Order forfeiture of Akwa Ibom senators houses, FG urges court
Health workers seek salary payment despite no work
VANGUARD
Fears over nPDP talks with Presidency
Police arrest 7 family members for beating brother to death in Imo
ADC threatens Buhari with suit over Not-Too-Young-to-Run Law
FG fixes August for commencement of Ogoniland clean-up remediation
As Buhari enters his fourth year
Buhari has terribly disappointed those who thought he had changed ‘ Osuntokun
APC CONGRESS: Odigie-Oyegun stops inauguration of Tinubu, Amaechi backed State Excos
Shootings: Fayemi, APC planning to sponsor assassinations in Ekiti ‘ Fayose
We plan to grow organically but’ ‘ Okonkwo, CEO, Fidelity Bank
Stock market bleeds on political uncertainties
Group heads to court as FG okays new excise rates for tobacco, alcoholic beverages
THE AUTHORITY
Fidelity Bank storms Edo community with ‘Back-To-School’ campaign
Don tasks policy makers on reality of climate change
Nasarawa commences headcount of teachers, pupils
WAEC’s candidates to get results within 7 weeks
Leadway unveils campaign to boost savings culture
Regency Alliance reports N3.37bn GPW
Emmanuel inaugurates Anchor Insurance House in Uyo
IIPELP set to educate judges on latest gas, power policies
NNPC faults report on N36bn royalty to Alesa-Eleme Community
Danbatta to be inducted fellow Nigeria Academy of Engineering
NSE: SEC seeks fiscal incentives for listed firms
Ease of doing business: NPA seeks Osinbajo intervention
Be courageous, resilient, Oduoza tells aspiring business leaders
#NotTooYoungToRunBill:The game changing bill brought to life by Saraki’s Senate By Dede Amadi
WORLD HEADLINES:
CNN
North Korea looms large in Singapore, but China takes front billing
500 quakes in 24 hours at Hawaii volcano
North Korea looms large in Singapore, but China takes front billing
Facebook defends sharing user data with phone makers
North Korea shakes up military leadership
Melania Trump to attend her first public event in 24 days
Fuego volcano erupts for second time this year
83 containers fall off cargo ship
At least 7 dead, international airport closed, 1.7 million could be affected by Guatemala volcano
Meet Trump’s man with the Singapore plan
Massive NATO exercise starts in Poland and the Baltics
Jordanians take to the streets to protest austerity measures
Can Oman build a new Dubai
Many women with common breast cancer can skip chemo, study says
Whale dies after swallowing 17 lbs of plastic
Solo’ dings Star Wars’ box office invincibility
Ford is dropping cars but keeping the Mustang. Here’s why
Trains come back from dead in Bangkok jungle
Architect creates ‘prehistoric’ restaurant in Tokyo
Fiji sevens seize control of World Series
Boy tries to hug Trump at bill signing
BBC
Colourism: Do light-skinned black women have it easier in showbiz
Curry sets record as Golden State take 2-0 lead in NBA finals
English clubs not releasing players ‘doesn’t make sense’ to Gatland
World Cup 2018: Can you identify the player from their tattoo
Volcano survivor says her family was buried
Tyson Fury on depression, drugs, drinking and his comeback fight
World Cup 2018: Iceland aim to build on Euro 2016 success
Guatemala volcano: Dozens die as Fuego volcano erupts
Dancing FBI agent drops gun during backflip and shoots man in leg
Australian bank offers to pay record fine
San Diego marathon: ‘Active shooter’ arrested near finish line
How to inspect a nuclear energy site
World Cup 2018: The volunteer who wants his city cleaner for the championship
The Swiss master watchmaker running out of time
My 84-year-old husband now does my make-up
I was looking for my mother but found my twin instead
Gender inequality: The simple promise that could get more women into power
Shipwrecks: Who owns the treasure hidden under the sea
World Cup 2018: Arsenal’s Iwobi in Nigeria’s 23-man squad
Esayas Jira elected as new boss of Ethiopia Football Federation
Why South African children are drowning in toilets
ASSOCIATED PRESS
Guatemala volcanic eruption sends lava into homes, kills 25
Trump lawyer plays down chance president would self-pardon
China says trade deals are off if US raises tariffs
Analysis: Qatar crisis widens fissures among US allies
Congress faces immigration showdown, tension on tariffs
APNewsBreak: Seniors scrimp but still spend more for meds
Team studies bones to identify the disappeared in Mexico
Many breast cancer patients can skip chemo, big study finds
Business economists worry about possible recession in 2020
Curry dazzles from deep, Warriors take 2-0 NBA Finals lead
AL JAZEERA
Tunisia keeper ‘fakes’ injury to help players break Ramadan fast
Iran FM: World must stand up to US ‘bullying’
Canada’s PM blasts Trump over ‘national security’ tariffs
Video: Dancing FBI agent backflips, accidentally shoots bystander
Anti-immigration party wins Slovenia elections
Syria’s Bashar al-Assad to visit North Korea
46 migrants drown after boat sinks off Tunisian coast
Up to 60 percent of Afghan girls out of school: report
Qatar’s beIN off-air in UAE amid bootlegging allegations
In Gaza, grief and pain for slain ‘angel of mercy’ paramedic
BUSINESS HEADLINES:
$9bn spent on road, infrastructure in 3years ‘FG – The Sun
16 of the best places to shop for women’s workwear ‘ at every budget – Business Insider
2 UBS analysts just made a big market call that should have everyone a little worried – Business Insider
2018 cropping season: Zamfara LGAs to get 60 trucks of fertilizer each – Daily Trust
5 important things happening in South Africa today – BusinessTech
6.5m savings accounts opened in 3 months – Vanguard
8 details you might have missed on the latest episode of ‘Westworld – Business Insider
9 reasons you should buy an iPhone 8 instead of an iPhone X (AAPL) – Business Insider
A $1.8 trillion investing behemoth explains why the next recession will be an entirely different beast ‘ and outlines what traders can do to prepare – Business Insider
A guy bit into a Kit-Kat bar in the weirdest way and everyone is telling his girlfriend to break up with him – Business Insider
A men’s wellness startup is redefining how guys approach hair loss by making modern treatments affordable and accessible – Business Insider
A whale died after swallowing 80 plastic bags in Thailand – Business Insider
ABTL wins ‘Best Port Terminal Operator Award – The Sun
Accion MfB disburses N19bn loan, grows profit by 50% – Vanguard
Adamawa denies bid to privatise specialist hospital – Daily Trust
Africa has 2% of world’s cars, 20% of road deaths – The Sun
Agency to guarantee price of farm produce takes off in Kaduna – Daily Trust
Agriculture, others slow GDP growth to 1.95% – Punch
SPORTS
As Eagles land in Austria for Czech Republic – The Sun
10-man Lobi dim Yobe Desert Stars – Daily Trust
250 for Ikoyi ladies golf tourney – Punch
3rd Radio One Children Sports Fiesta: Elegbata Junior High School emerges tops – Vanguard
Abia-based Ngwa United FC wins Ebonyi FA Cup – Vanguard
Ajax starlet heading to the Bundesliga – Kickoff
Andre Iguodala Out for Game 2 with Leg Injury; Klay Thompson ‘Hopeful’ to Play – Bleacher Report
Argentina’s 1986 World Cup-winning coach Bilardo hospitalised – Vanguard
Asaba 2018 AAC: Kenya plans to dominate with elite athletes – Vanguard
Asaba 2018: Kenya to send big team to African tourney – New Telegraph
Asian Cup 2019: UAE to have five training camps, to face Trinidad and Tobago in a friendly – Goal
Austria friendly’ll be tough for Eagles ‘Lawal – New Telegraph
AWCON Qualifiers: Oshoala, Oparanozie, 17 Other Super Falcons Off To Gambia On Monday – Complete Sports
Baxter impressed with Bucs defender – Kickoff
Behold Rohr’s 23 Wise Men For Russia – Daily Independent
Benzema claims Champions League goal was not lucky – Goal
Benzema claims Champions League goal was not lucky – Goal
Brazil’s Fred evasive on reports of Manchester United move – Goal

Tracking Times – Entertainment
ENTERTAINMENT
21 beggars arrested on one week – Miss Petite
5 Ways to Socialize Without Breaking the Bank – Bellanaija
9 great movies you can watch on Netflix this weekend – Business Insider
American citizen Marries Hausa lover He Met Online After Converting To Islam (Photos) – Information Nigeria
As a DJ, I have more control over my creativity-DJ Cuppy – Daily Times
Barely Few hours after launch, Linda Ikeji’s TV goes mum – Nigerian Pilot
Ben Murray-Bruce Called A Hypocrite For Publishing His Book In Texas Unlike His ‘Buy Nigeria’ Mantra – Information Nigeria
Blackwood Grills And Bar Hosts Bodex Media MD, Florence Hungbo To A Sumptuous Meal – Miss Petite
BN Confession Box: I Beat His Son Because He Broke My Sister’s Heart – Bellanaija
BrandSpark: Co-Creation vs Wennovation Hub – Vanguard
Charge And Bail: Fake lawyer arrested while trying to bail client – Pulse
Checkout these Lovely Photos from Susan Peters’ birthday bash – Information Nigeria
Cigarette And Alcohol Prices Set To Rise As Buhari’s New Excise Rates Takes Effect From Tomorrow – Information Nigeria
Comedian NEDU WAZOBIAFM acquires Range Rover Autobiography – Information Nigeria
Count me out of Offa bank robbery saga” Kwara state governor Abdulfatah Ahmed replies police – Linda Ikeji
Dangote Donates 150 Patrol Vehicles To The Nigerian Police (Photos) – Information Nigeria
Dr. Chinny Obinwanne: Is The Hype About Breastfeeding Really Worth It – Bellanaija
Dr. Ezinne Meribe: How to Lose the Summer Holiday Weight Gain with Ease – Bellanaija
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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