Business
LOCAL AND WORLD NEWS, BUSINESS, SPORTS AND ENTERTAINMENT HEADLINES FOR TODAY THUR. 5 JULY 2018


Tracking Times – Headlines
LOCAL HEADLINES:
PUNCH
IPOB: Abaribe vows to sue DSS for detention
Killings: Court okays suit seeking Buharis impeachment
Reps probe Abacha loot recovered by Obasanjo, YarAdua, Jonathan, Buhari
State police: Dogara gets bill, Saraki meets speakers
Well reorganising judiciary to fight corruption Buhari
Dasuki: Boycott courts if FG disobeys order, activist tells NBA
Mitee, others petition Osinbajo over alleged plot against Ogoni clean-up
Developer to maintain Ile-Epo Market for 27 years
Why we oppose cattle colony, seek restructuring YCE
THE AUTHORITY
Herdsmen planning to attack 5 Enugu communities ‘ Ohanaeze
Constitutional Breaches: Court orders NASS to impeach Buhari
Keep your Igbo presidency agenda, MASSOB tells Buhari
Buhari can’t share N115bn Abacha loot without appropriation ‘ Reps
FG approves N206bn for 2nd Niger Bridge
51 die in Benue IDPs’ camp in 6 months
Gas supply to power highest in two years, says NNPC
NNPC may turn to capital market to fund new projects
VANGUARD
Arraign Kanu or hand him over to British govt, IPOB urges FG
US, Nigeria partner on structured mentoring programs for women
Zamafara killings: FG donates relief materials IDPs in Katsina
What Suswam told me in DSS custody’Abaribe
Don’t allow moneybags buy your conscience, IG warns policemen
Land for life: Methodist Prelate faults Presidency
C’River govt warns Ukelle/Izzi communal conflict refugees against retaliation
2019: Akala joins Oyo governorship race
Makarfi promises all-inclusive govt if elected President
THISDAY
DSS: Insecurity Threat to 2019 Elections
Buhari Warns His Successors Not to Return Stolen Assets to Looters
House Probes Recovery, Utilisation of Abacha Loot, Others
Southern, Middle Belt Leaders Flay Adesina over Comment on Ranching
FEC Approves N206bn for 2nd Niger Bridge Link Road
WAEC Releases April/May Results, Records 50% Pass
AfDB Partners African Countries to Bridge Continent’s Investment Gaps
House to Introduce Bill on State Police Next Week
We Will Dismiss Partisan Police Officers, Says IG
DAILY TIMES
Buhari lauds Nigeria-Kuwait relations
Incessant killings, strong signal for FG to Restructure
USIP urges FG to plan against election violence
FG, UNFPA inaugurate guidelines on safe termination of pregnancy
Daily Times Newspaper, Thursday, July 05, 2018
Breaking: New Faction Of APC Emerges In Abuja
92-year-old Mother kills Son who wanted to put her in a nursing home
Gani Adams calls for Yoruba security summit to address herdsmen challenge in region
What President Macrons Visit Means To Lagos- Governor Ambode
THE NATION
Saraki, Dogara, Kwankwaso, Baraje, others form R-APC
Macron to Nigerian youths: get involved in politics
CBN woos importers for Chinese currency
Why Im selling off recovered assets, by Buhari
Policeman kills NYSC member one day to passing out
Wammako, Bindow, Aliero, Goje, others fate uncertain
$322m Abachas loot: Group faults disbursement plan
Exporters hail OGFZA for ranking best in Ease of Doing Business
PREMIUM TIMES
51 die in Benue IDPs camp ‘ Official
Abuja police officers open fire at checkpoint; kill female corper, sister alleges
APC Crisis: Oshiomhole, Bolaji Abdullahi speak on R-APC
Uganda leader says social media used for ‘lying’, defends tax for access
Reformed APC’ names leaders (SEE LIST)
CBN renews mandate of Skye Bank’s board of directors
Macron in Lagos: My view of Africa differs from that of many Europeans
Reps to probe N2.8 billion Federal Fire Service fund
Singer Runtown announces new single hours after court injunction
HERALD
Couple Cut Off Family Members Who Criticized Their Decision To Have Wife As Breadwinner
Full List: Reformed APC Reveals List of National Leaders
Oshiomhole Reacts To New APC Faction
Venus Williams Strikes Again At Wimbledon
Photo: Tanker Fire Accident Narrowly Averted In Lagos
Witch Doctor Dies When Client Tests Bullet Repelling Charm On Him
Man Declared Dead Resurfaces After Decades
WORLD HEADLINES:
CNN
Summer of Trump: President to make Supreme Court pick, meet UK Queen, Putin
Amesbury victims poisoned by same nerve agent used on ex-spy
Is the UK’s healthcare the best in the world
DNA tests for migrants at US border
Angela Merkel: US auto tariffs could start a trade war
Jaguar Land Rover: Brexit threatens our plan to spend $100 billion in the UK
Pompeo under the gun to get results in North Korea
Police find ‘items of interest’ at property linked to suspected serial killer
Trump asked advisers about invading Venezuela in 2017
Kim Dotcom can be extradited to the US, New Zealand court rules
Woman climbs Statue of Liberty to protest family separations
Houston streets flood after heavy rains, sparking memories of Harvey
Experience the world’s largest waterfall cluster
BBC
Thailand cave: Rescuers in race against weather as rains close in
Polar bear killed Canadian man protecting his children
Melting road’ damages cars in Australia
Emilia Clarke pays tribute to nurses after death of her father
Russia 2018: ‘England have shown why we can win this World Cup
Jolyon Palmer Q&A: Mercedes, Ferrari, Vettel, Raikkonen & Alonso
England v Sweden: Steven Gerrard & Joe Cole scored at 2006 World Cup
Chris Froome: Tour de France champion on his race diet
Wimbledon 2018: Serena Williams & Victoria Azarenka among mums on Centre Court
NHS 70th birthday: How National Health Service staff are staying fit
Fifa eClub World Cup: How Brondby conquered the globe… twice
Statue of Liberty evacuated after woman climbed monument base
Russian mother faces jail for trying to sell son’s seizure gel
AL JAZEERA
UK nerve agent incident: Novichok found in poisoned couple
Is the trial of Najib Razak a political vendetta
Rouhani says US unaware about consequences of Iran oil ban
Syrian rebels and Russia ceasefire deal breaks down
Boko Haram, IDP returns and political calculations in Nigeria
Egypt’s top appeals court overturns ‘terror list’ ruling on Morsi
Call for calm after killing of youth sparks riots in French city
Chinese fans’ World Cup attendance under spotlight
US vows to keep Gulf waterway open despite Iran’s threats
Many players but little progress in Deraa ceasefire talks
Arab American comedian wins lawsuit against American neo-Nazi
Mali election workers suspend strike ahead of presidential vote
Israeli forces assault Palestinians, prepare to demolish village
AFP
A ‘Japanese tip’: the origami art left by diners
BUSINESS HEADLINES:
$10.3tr investment needed to meet global oil demand ‘ OPEC – The Sun
10 major truck parks ready next year ‘ FG – Punch
10 survival myths that might get you killed – Business Insider
12 smart home gadgets that practically clean the house for you – Business Insider
13 home organization purchases that we swear by for our own apartments – Business Insider
2 vandals in police net over N340,000 stolen cables – BusinessDay
2019 Budget: FRC official tasks FG on early preparation – BusinessDay
2nd Niger Bridge: FG approves N206bn Anambra, Delta link road – Punch
5 Instagram Marketing Tactics to Skyrocket Your App Downloads – Entrepreneur
5 Steps to Hiring the Right People for Your Business – Entrepreneur
SPORTS
10 candidates for football’s 2018 best player award ‘ FIFA – New Telegraph
Africa Youth Cup 2019: Benfica, Kegue confirm participation – Vanguard
Akanji: No regret choosing Switzerland over Nigeria – New Telegraph
Amir Johnson Reportedly Finalizing Deal to Re-Sign with 76ers on 1-Year Contract – Bleacher Report
Amuneke Joins Capello, Lampard, Others On FIFA’s Panel – Daily Independent
Arsenal Goalkeeper David Ospina Determined to Remain in Europe Despite Boca Juniors Approach – FTBpro
Arsenal Transfer News: Juventus Reportedly Keen on Shkodran Mustafi – Bleacher Report
Asaba 2018 AAC: Nwanaga targets javelin gold – Vanguard
Barcelona Transfer News: Everton Make Yerry Mina Bid in Latest Rumours – Bleacher Report
Brazil favourites in ‘dream’ clash ‘ Belgian coach – Vanguard

Tracking Times – Entertainment
ENTERTAINMENT
“Generations will look at Obasanjolibrary and say this is the house that fraud built – Wole Soyinka attacks Obasanjo in new book – Linda Ikeji
“Payday”: ChetaChukwu holds private screening for movie starring Bisola Aiyeola and Zack Orji – Pulse
17-year-old girl allegedly rushed to the hospital after having sex with boyfriend in Delta – Linda Ikeji
5 teachers sacked for impregnating SS3 student In Kebbi; Pregnant student expelled – Information Nigeria
Abaribe: Saraki describes Senator’s arrest as unfortunate – Pulse
Actress Vera Gerald dishes out inspirational message on body positivity – Vanguard
Adams Oshiomhole: APC Chairman appeals to R-APC rebels, Ndume dismisses group – Pulse
Afrika shrine represents culture, strength, music of the continent- President Macron – New Telegraph
Ahmed Musa Arrives Sokoto In Style For Charity Event, Links Up With Teammate – Information Nigeria
Alex flaunts her henna tattoo again, shares words of positivity – 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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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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