Business
LOCAL AND WORLD NEWS, BUSINESS, SPORTS AND ENTERTAINMENT FOR TODAY MON. 16 JULY 2018


Tracking Times – Headlines
LOCAL NEWS
THE SUN
Igbo want Biafra, IPOB tells former vice president Atiku Abubakar
Caretaker committee illegal, says AD youth forum
Jubilation, protest as APC wins Ekiti election
Ekiti poll: Govs congratulate Fayemi, commend INEC, media, others
VANGUARD
Emefiele, Lalong, Amaechi, others for Blueprint awards tomorrow
2 pipeline guards murdered, buried in shallow graves
Ekiti election worst political robbery in Nigeria ‘ Wike
2019: Atiku promises to end pro-Biafra agitations
THISDAY
Oando: London Arbitration Court Orders Tinubu’s Firms to Pay Volpi $680m
Federation Account: Stakeholders Move to Stop NNPC from Collecting, Remitting Oil Royalty
Nigeria, Netherlands’ Trade Volume Hits N1.2tn, Says Envoy
Boko Haram Ambush: 23 Soldiers, Eight Trucks Missing
NIGERIAN PILOT
THE DESECRATION OF THE CALIPHATE
EKITI RESULT : PDP says, It’s daylight robbery, brazen subversion of will of the people
Herdsmen: Igbo group says August 31st quit notice’s sacrosanct
SAHARA REPORTERS
No More Immunity’ ‘ EFCC Ready To Go After Fayose Over ‘N1.3bn Fraud
BREAKING: PDP Rejects Ekiti Election Result, Says APC Relied On Guns And Billions
From Defeat In 2014 To Victory In 2018, How Fayemi Kept His Eyes On The Prize
I’ll Restore the Ekiti Man’s Respect For Leaders’ ‘ Has Fayemi Had A Sly Dig At Fayose
TRIBUNE
Let’s go back to parliamentary government
IMF blames limited bank lending for low activity in non-oil sectors
Conoil assures shareholders of competitive returns on investments
DAILY INDEPENDENT
Another Nigerian Shot Dead In South Africa
23 Soldiers, Eight Trucks Missing In Borno After Boko Haram Ambush
2019: Chris Okotie Returns To Presidential Race
Oando: London Court Orders Wale Tinubu To Pay $680m To Volpi
THE HERALD
Buhari Not At Fault for Killings- Muslim Group
Mbappe Receives Threat from Pele, Makes Announcement On His Future
The Bizarre World Cup Superstition That Might Have Won France The World Cup
NEW TELEGRAPH
From Buhari to Adeosun: The ethical question
How to tell your fianc you are no longer a virgin
CORA/Arterial Nigeria, law firm partner on Enterprise Support Programme
THE AUTHORITY
GIST LOVER
Photos Of Young Nigerian Man As He Proposes To His Older Oyinbo Lover [Photos]
Tears Flows Freely As Car Plunges Into River On Lagos-Benin Expressway, Many Feared Dead [Photos]
Pastor Okotie Declares Intention to Run For 2019 Presidency during Church Service
France Are World Champions, Beat Croatia In Six-Goal Thriller
DAILY TIMES
Nigeria urges Dutch Embassy to resume issuance of Schengen Visas in Abuja
Army offers free medical treatment to 1,830 persons in Sokoto
DAILY TRUST
PDP will challenge election in court
Buhari group clarifies Sheriffs appointment as DG
WORLD NEWS
11 times Donald Trump praised Vladimir Putin – CNN
19-year-old soccer star Kylian Mbapp just helped win France the World Cup ‘ here’s what you need to know about him – Business Insider
23 amazing ancient cities – CNN
5 big differences between Navy and Air Force fighter pilots – Business Insider
8 endangered black rhinos die after relocation in Kenya – CNN
9 countries that are relatively easy for Americans to move to – Business Insider
9 money-saving tips and hacks for shopping on Amazon Prime Day – Business Insider
A list of ten things that billionaire owners of EV, clean energy and rocket companies should and should not tweet – Techcrunch
Algeria Deports 400 Migrants To Niger – Daily Independent
Amnesty says Cameroon soldiers executed women, young girl and a baby – CNN
BBC
Trump-Putin summit: US leader cautious ahead of Helsinki talks
Iran nuclear deal: US rejects EU plea for sanctions exemption
Italy allows migrants to land in Sicily
Nicaragua troops raid towns in south
China’s second quarter growth meets expectations at 6.7%
World Cup final: France’s triumph and Croatia’s tears
Syria war: Rebels’ underground tunnel network in Douma
Thai cave rescue: Classmates’ paper cranes of hope for Adul
Mumbai slum gets colourful makeover
Trump-Putin summit: Why is it a big deal
South Africa’s Diepsloot township: ‘My neighbour is a rapist
Will South Africa’s Jacob Zuma come back to haunt Cyril Ramaphosa
The Cardiff woman who is allergic to water
CNN
Harry and Meghan receive surprise gift
Taiwan by bike: Around the island in 12 days
11 times Donald Trump praised Vladimir Putin
Will Uber’s CEO still be able to save the brand’s image
Uber now monitors its drivers for criminal offenses in real time
Justin Bieber and Katy Perry: The users hit hardest by Twitter’s follower purge
It will be the most surreal US-Russia summit in history
Report: Trump enraged by Putin’s video showing missiles striking Florida
Elon Musk calls cave rescue diver a ‘pedo
US, North Korea to restart joint searches for soldiers’ remains, Pompeo says
Massive iceberg threatens tiny village
Prince Louis’ christening photos show grinning Prince George
From Pharaohs to Beyonce: Why do we still love leopard print
AL JAZEERA
Trump, Putin set to meet in shadow of US election hack charges
What should we expect from the Trump-Putin summit in Helsinki
Fans in Paris, Zagreb revel in thrilling World Cup final
Pakistan: Death toll rises to 149 in Mastung attack
Like twins’: Gaza mourns teenage boys killed in Israeli air raid
UN: All-out war narrowly avoided after Israel-Hamas ceasefire
France beat Croatia to win World Cup 2018
Donald Trump calls European Union a ‘foe
Israel demands end to flaming kites amid reports of ceasefire
Syria: Government troops widen offensive near Quneitra
Trade expected to dominate EU-China summit agenda
Suicide bomb blast near Afghan ministry kills civilians
BUSINESS NEWS
11Plc shareholders get 800k dividend – Vanguard
19-year-old soccer star Kylian Mbapp just helped win France the World Cup ‘ here’s what you need to know about him – Business Insider
2018 World Cup: Modric, Mbappe, Kane, Courtois win FIFA Golden Ball Awards –BusinessDay
5 big differences between Navy and Air Force fighter pilots – Business Insider
9 countries that are relatively easy for Americans to move to – Business Insider
9 money-saving tips and hacks for shopping on Amazon Prime Day – Business Insider
Access Bank wins sustainable finance award– The Nation
ACFTA: Nigerians demand free, fair deal ‘Buhari – Tribune
Afreximbank proving Africa can do something meaningful President – Daily Times
AMCON seizes Sigma Apartments over N1bn indebtedness – Vanguard
SPORTS NEWS
2018 Home Run Derby Odds: Nationals’ Bryce Harper Leading the Betting Lines – Bleacher Report
2018 World Cup: Modric, Mbappe, Kane, Courtois win FIFA Golden Ball Awards –BusinessDay
A biblical rainstorm & men in suits obscuring the crucial moment – the bizarre end to the World Cup – BBC
Africa U20 qualifiers: Nigeria will prepare well for Mauritania ‘ Paul Aigbogun – Goal
Africa’s first World Cup title’but in French colours’ – Oliseh sends hilarious congratulatory message to France – Goal
Africa’s first World Cup title’but in French colours’ – Oliseh sends hilarious congratulatory message to France – Goal
AJ Styles Beats Rusev with Phenomenal Forearm to Retain Title at Extreme Rules –Bleacher Report
Alexa Bliss Beats Nia Jax, Avoids Ronda Rousey Attack at WWE Extreme Rules 2018 –Bleacher Report
Argentina FA part ways with Sampaoli – Kickoff

Tracking Times – Entertainment
ENTERTAINMENT NEWS
2019 Election: Adopt me as your consensus presidential candidate – Chris Okotie tells APC, PDP – Pulse
71-year-old Swedish ex-wife of Ugandan singer Guvnor Ace gets engaged to her 19-year-old lover – Linda Ikeji
Actress Omotola’s last child, Michael, graduates from sceondary school(photos) –Information Nigeria
Actress Tonto Dikeh changes name to ‘King Tonto – New Telegraph
Ali Baba celebrates daughter named best Igbo student despite Urhobo background – New Telegraph
Another Nigerian reportedly shot dead in South Africa – Information Nigeria
APC is taking us back to the days of Obasanjo’ – Angry man says as he destroys his PVC after Ekiti Elections – Linda Ikeji
Argentina sacks coach, Jorge Sampaoli after poor performance at the World Cup – Linda Ikeji
Bodex group boss, Florence Hungbo loses father – New Telegraph
Bovi Teams Up With Steve Egboro for Unforgettable Night in Atlanta – Daily Times
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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