Business
LOCAL AND WORLD NEWS, BUSINESS, SPORTS AND ENTERTAINMENT FOR TODAY WED. 11 JULY 2018


Tracking Times – headlines
LOCAL NEWS
VANGUARD
Leadership failure, cause of killings in Nigeria ‘Tambuwal
My position on cattle ranches ‘ Oluwo
Call herders to order, S-West hunters tell Fulani leadership
Farmer contends against Ugwuanyi for 2019 gov poll
NASS battles FG to release 33% pension arrears ‘House c’ttee
Abuja killings: Reps summon FCT CP
Most states breaching pension law, says Takor
Ortom/Akume rift: Security personnel cordon off Benue Assembly
THE SUN
Cows everywhere: How herdsmen defied security, invaded National Assembly
Digital’ armed robbers invade FCT
2019: INEC worried over 17m uncollected PVCs
NFF crisis: Court adjourns case till September
Galatasaray confirms Onyekuru deal
Brian Idowu joins Locomotiv Moscow
GOtv Boxing Night returns to Ibadan with Joe Boy, Fijabi
Egypt plans bid to host 2030 World Cup
THE AUTHORITY
Senate to tackle Buhari over IPOB, Dasuki, El-Zakzaky
50 killed in Adamawa, Taraba attacks
Picketing: Telecoms operators advise MTN to shutdown network
Atiku extols Thai govt on rescue of 12 teenage
Obasanjo endorses more women in politics
Third Mainland Bridge to be closed for repairs
THE NATION
APC, 20 others join forces to tackle anti-Buhari coalition
Ekiti must grow beyond stomach infrastructure, says Buhari
Ex-Ondo Dep. governors girl: I reported suspect to police, says dad
Alas,APCs illegitimate kids come of age
APC wont waiver over PDP coalition
PDPs coalition isact of opportunism, says Balarabe Musa
We are taking measures against killings, says Buhari
DAILY TRUST
Buhari leads Fayemis campaign ahead of election
Fayose loses key allies to APC
Bukar Abba knocks money politics in new book
Group endorses Kwankwaso for president
Obasanjo wants 40 percent slots for women in politics
Atiku blasts Buhari, says his government most corrupt since 1999
Ekiti Election: NSCDC deploys 19,997 personnel, sniffer dogs
Sandy-loamy soil, good for snail farming
GUARDIAN
Trade war: US takes aim at $200 bn in Chinese goods
Stock market index depreciates by 0.6 per cent
New Rotary District Governor sees end to polio in Nigeria
Police dock passenger for robbing Uber driver of his car
Again, FAAC meeting ends in stalemate
FG orders mandatory certification of haulage vehicles
National Assembly transmits PIG Bill to Buhari for assent
Tired women with common womb disorder are more than twice as likely to be infertile
Why supply of potable water is poor, by COREN
DAILY TIMES
My Guber ambition approved by God Tony Nwulu
Insecurity: Varsity students call for protection
2019: Atiku inspects Umahis projects in Ebonyi
Reps probe NNPC remittances to federation account
NASS committee recommends suspension, prosecution of Senator Omo-Agege over Mace Theft
Third Mainland Bridge to be closed for repairs
El-Zakzakys trial: Police ban processions in Kaduna
CUPP: An amalgamation of failed, frustrated politicians Olulade
Allegation of rigging: Fayose is afraid of his shadows, says Fayemi
WORLD NEWS
12 people share the weirdest reason they broke up with someone – Business Insider
16 hidden costs of moving – Business Insider
16 signs you’re underpaid ‘ and what to do about it – Business Insider
176 dead in Japan floods as rescue operations continue – CNN
23 creative ways states are keeping women from getting abortions in the US ‘ that could erode Roe v. Wade without repealing it – Business Insider
3 Stocks You Should Buy In The Next Downturn: Tesla, Nvidia And Facebook – Forbes
3 Ways To Focus On Your Work Without Interruption — Backed By Science – Forbes
4 Ways Successful People Use Their Name To Gain Respect – Forbes
4 Ways To Get Your Network Contacts To Follow Through – Forbes
5 overlooked deals you really don’t want to miss out on during Prime Day ‘ but probably have in previous years – Business Insider
CNN
NATO leaders hope to ‘avert disaster’ as Trump visits Europe
Can the West withstand the Trump presidency
How Thailand became the ‘Detroit of Asia
China stocks slump as US steps up trade war
Microsoft unveils Surface Go to take on iPad
US readies another $200 billion of China tariffs
NATO leaders hope to ‘avert disaster’ as Trump travels to Europe
All 12 boys and soccer coach freed from Thailand cave
Kim Jong Un snubbed top US diplomat, source says
176 dead in Japan floods as rescue operations continue
Trump pardons ranchers whose case sparked takeover of Oregon refuge
BBC
Cave rescue: ‘Hope became reality’ says Navy Seal chief
Thailand cave rescue: ‘Tiny bit of hope became reality
Unicorns, ice cream vans and Lineker in a mankini’ England eye place in World Cup final
US fires next shot in China trade war
Qin Yongmin: Prominent Chinese dissident jailed for 13 years
Cave rescue: Elation as Thai boys and coach freed by divers
German neo-Nazi murder trial reaches climax
Latino picnicker harassed in Illinois park as cop stands by
US cannot reunite dozens of child migrants with their parents
American celebrating wedding anniversary killed in Mexico City
Emerging sex disease MG ‘could become next superbug
How the Thai cave boys were rescued
World Cup 2018: France football victory ends in tear gas
AL JAZEERA
Kavanaugh appointment ‘to reverse civil right gains’, groups warn
Suicide blast kills ANP candidate, supporters at election rally
Nigeria: Opposition mounts against Buhari’s re-election bid
France beat Belgium to reach World Cup 2018 final
Will the US Senate vote for Trump’s Supreme Court nominee
NATO summit 2018: All you need to know
NATO summit: Has Trump shifted US alliance in Europe
Israel closure of vital Gaza commercial border takes effect
When the arena of play blurs with the arena of politics
Trump pardons ranchers whose case led to 41-day standoff with FBI
UK: Disputes over Brexit strategy lead to more resignations
Cristiano Ronaldo leaves Real Madrid to join Juventus
BUSINESS NEWS
12 people share the weirdest reason they broke up with someone – Business Insider
16 hidden costs of moving – Business Insider
20 foreign investors, consultants ‘understudy opportunities in Nigeria’s auto sector – BusinessDay
3 Stocks You Should Buy In The Next Downturn: Tesla, Nvidia And Facebook – Forbes
3 Ways To Focus On Your Work Without Interruption — Backed By Science – Forbes
4 Ways Successful People Use Their Name To Gain Respect – Forbes
4 Ways To Get Your Network Contacts To Follow Through – Forbes
42% of local shipping firms jobless for 3 years – New Telegraph
5 overlooked deals you really don’t want to miss out on during Prime Day ‘ but probably have in previous years – Business Insider
8 Ways You’re Destroying Your Personal Brand Without Even Knowing It – Entrepreneur
SPORTS NEWS
12 Thai boys, coach rescued from cave – Punch
Abuja Ovals to be ready before National Sports Festival – Daily Trust
AC Milan Ownership Control Ceded to Elliott Advisors Limited – Bleacher Report
Adam Silver Says NBA Free Agency Will Be Moved to Earlier Time Next Summer – Bleacher Report
Adam Silver: Personal View Is NBA Is Ready to Allow Players to Enter Draft at 18 – Bleacher Report
AFN cancels sporting event after protest by ‘maltreated’ athletes – Blueprint
African All Stars Transfer News & Rumours: Riyad Mahrez completes Man City switch – Goal
African All Stars Transfer News & Rumours: Riyad Mahrez completes Man City switch – Goal
Aigbogun unveils 18-man squad against Mauritania – Nigerian Pilot
Amaju’s NFF denies corruption allegations – The Sun

Tracking Times – Entertainment
ENTERTAINMENT NEWS
#BBNaija Winner Miracle meets with President of Sierra Leone – Bellanaija
#WorldCup 2018: France secures spot at Final with 1 ‘ 0 Win over Belgium – Bellanaija
26 year old womansteals a 3-week-old baby in Osun state after years of barrenness – Linda Ikeji
45-year-old unemployed Nigerian man detained in Cambodia for public disturbance – Linda Ikeji
A new documentary chronicles the lives of triplets separated at birth in a controversial study ‘ here’s how scientists continue to use twins in research – Business Insider
Alex Iwobi joins the #InMyFeelingsChallenge and it’s hilarious (Video) – Linda Ikeji
All 20 Marvel Cinematic Universe movies, ranked from worst to best – Business Insider
Atiku Abubakar: Former VP says a lot of Nigerians are suffering under Buhari – Pulse
Beyonc is releasing a Capsule Collection with Balmain for Charity! – Bellanaija
Brits try to boost Green Day’s “American Idiot” to top of UK charts ahead of Trump visit – CNN
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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