Business
LOCAL AND WORLD NEWS, BUSINESS, SPORTS AND ENTERTAINMENT FOR TODAY MON. 30 JULY 2018


Tracking Times – Headlines
LOCAL NEWS
DAILY POST
VANGUARD
Dasuki’s family asks NBA to probe Malami
Boko Haram kill 11 solders as troops down 16 insurgents
Enugu residents defile heavy rain to welcome Ugwuanyi
Shareholders laud Oando mgt on return to profitability
Be patient with us over constructions ‘Delta govt
Abiri: IYC calls for arraignment of other detained N-Deltans
2019: I’ll review sack of 25,000 teachers in Kaduna ‘ Ashiru
APC moves against Saraki’s men in govt
Gunmen kidnap 15 in Zamfara ‘ Speaker
PUNCH
Alleged forgery: Reps panel wants Buharis aide prosecuted
Attackers wanted to kill me, Melaye alleges
FG recalls 2.4 million bottles of codeine syrup
I only lured my friend to where he was killed Kano cyclist
Insecurity: Buhari sends 1,000 troops to Zamfara
UI ranked Nigerias best, ABUAD tops private varsities
Buhari didnt want alliance with Tinubu in 2013 Galadima
842 sanctioned for malpractices as NABTEB releases May/June results
Dasukis family petitions NBA, CJN, wants Malami sanctioned
DAILY INDEPENDENT
US-Based Nigerian Jailed Four Years For Scams
Police Arrest Medical Doctor, Nurse Over Abortion In Ogun
Kidnappers Of Ex-Ondo Council Boss Demand N10m Ransom
Edo Police Command Parades 47 Suspects
Army Kills 16 Boko Haram Insurgents, Recovers Gun Trucks, Cache Of Ammunition
Youths Protest As Bus Kills Two In Ondo Community
Ex-Anambra Council Chairman Assaults Woman In Hotel
Cult Threats, Jealousy Made Me Kill My ‘Godson’, His Girlfriend ‘ Suspect
NIGERIAN PILOT
STATE GOVERNORS AS CHIEF SECURITY OFFICERS AND MATTERS ARISING
Resign or be sacked, FG directs defected appointees
Son butchers father, sister in Ebonyi
No alternative to democracy, group tells Nigerian government
Defection: Dogara to leave APC soon- PDG
CAS blames unpatriotic Nigerians for funding insecurity
Nasarawa 2019: Stakeholders insist on gubernatorial slot to Northern zone
Candido charges politicians to eschew bitterness
THE AUTHORITY
Kano govt employs 50,000 youths
SON raises alarm over substandard, fake lubricant
NEMA to engage states for effective disaster management
Imo Dep Gov moves to stop impeachment moves
Controversy trail appointment of New Obaro of Kabba
APC shocked at Kwankwaso, Shekarau reunion
PDP will retain Nasarawa West Senatorial seat, Onawo
2019: NYSC DG warns Corps members against misconduct
State police, harmful, says Ozobu
PREMIUM TIMES
Nigerian kills fellow countryman in South Africa ‘ Official
Nigeria to begin last evacuation of stranded football fans in Russia
Nasarawa Governor Al-Makura sacks nine commissioners, two advisers
Buhari deploys 1,000-strong security force, fighter aircraft after Zamfara bandits
How I spent 11 hours on treetop to escape abduction ‘ Dino Melaye
WORLD NEWS
10 old-fashioned manners kids aren’t taught anymore – Business Insider
10 Ways To Improve Cloud ERP With AI & Machine Learning – Forbes
3 dead, 7 injured in New Orleans shooting – Tribune
3-D printed guns are just a click away – CNN
30 of the best men’s dress shoes and boots available during Nordstrom’s Anniversary Sale ‘ start shopping now before they sell out – Business Insider
31 unprofessional habits that make everyone at work hate you – Business Insider
4 Rookie Mistakes I Made As A Young Recruiter – Forbes
A Nicaraguan spring’ Understanding a crisis in five objects – BBC
A turning point for Zimbabwe – Al Jazeera
Amazon’s Echo Spot is apparently free right now (Update: aaand it’s gone) – Techcrunch
CNN
Trump rails against Mueller in tweetstorm
Massive US wildfire continues to grow
Cruise ship worker kills polar bear
Legendary WWE villain dies at 70
The families not reunited: One mother’s wait in limbo
Report: American diplomats met face-to-face with Taliban last week
Previously undisclosed TSA program tracks passengers
How Ronan Farrow keeps landing bombshells
Obamas jam at Beyonc and Jay-Z concert
How technology is changing future of underwear
The uncomfortable question powerful women should answer
3-D printed guns are just a click away
BBC
French skier who disappeared in Italy in 1954 is finally identified
California fire: Deadly blazes continues to grow
Zimbabwe election: Voters set for first ballot without Mugabe
Lombok earthquake: Hikers trapped on mountain after landslides
Assam: Millions risk losing India citizenship
Zimbabwe election: What do young voters want
Tour de France: Geraint Thomas wins as Chris Froome finishes third
Evidence of torture in Russia prison
A Nicaraguan spring’ Understanding a crisis in five objects
Palestinian teenager Ahed Tamimi released from prison
Millions miss out on seven-day GP access
Queen’s granddaughter Zara Tindall reveals second miscarriage
AL JAZEERA
India’s Assam on edge as final NRC draft list set to be published
Ex-Pakistani PM Nawaz Sharif moved to Islamabad hospital
Ethiopia: Thousands pay tribute to Grand Renaissance dam engineer
Israel intercepts aid boat bound for besieged Gaza Strip
Our life is hell’: Iraq’s IDPs suffer interminable wait for home
Iran’s currency plunges to record low as US sanctions loom
Laos struggles to find more than 1,100 missing after dam collapse
Zimbabwe elections: What you should know
Zimbabwe’s Mugabe says he won’t vote for successor Mnangagwa
UNRWA job cuts in Gaza ‘a massacre for employees
Fake news threatens the future of UK democracy: report
BUSINESS NEWS
10 old-fashioned manners kids aren’t taught anymore – Business Insider
10 Ways To Improve Cloud ERP With AI & Machine Learning – Forbes
30 of the best men’s dress shoes and boots available during Nordstrom’s Anniversary Sale ‘ start shopping now before they sell out – Business Insider
31 unprofessional habits that make everyone at work hate you – Business Insider
4 Rookie Mistakes I Made As A Young Recruiter – Forbes
Aiico Insurance Reports 96% Growth In H1 Net Profit – Leadership
Allianz Group completes Ensures acquisition – The Nation
Are Entrepreneurs Creating The Growing Economy, Or Is The Growing Economy Enabling Entrepreneurs – Forbes
Asaba 2018: Illegal Parks Along Major Junctions To Go Down ”Uduaghan – Financial Watch
Being ghosted can leave you feeling powerless ‘ here’s how to regain control over the situation – Business Insider
SPORTS NEWS
2018 AYG: Wrestling, Boxing, Football medals flop onn final dayi – Nigerian Pilot
5 Reasons Why Atletico Madrid Can Defy Real Madrid and Barcelona to Win the 2018/19 La Liga Title – FTBpro
5-Star RB Prospect John Emery Jr. Commits to Georgia over Alabama, LSU, More – Bleacher Report
African All Stars Transfer News & Rumours: Essien retires from international football – Goal
African All Stars Transfer News & Rumours: Essien retires from international football – Goal
Ahmed Musa welcomes first child with second wife – Daily Trust
Alex Iwobi Close To Signing New Deal- Arsenal Boss Unai Emery Confirms – Daily Times
Antoine Griezmann is Atletico Madrid’s best player ‘ Thomas Partey – Goal
Antoine Griezmann is Atletico Madrid’s best player ‘ Thomas Partey – Goal
Asaba 2018 AAC: 15 countries on ground, others expected today – Vanguard

Tracking Times – Entertainment
ENTERTAINMENT NEWS
16 Boko Haram Members Killed As Army Recovers Weapons Cache In Borno – Information Nigeria
40 and Fabulous Nigerian Actresses – Nigerian Pilot
AFRIMA: Submission of entries to end August 1 – The Nation
Armed Robbery Gang Dressed In Complete Military Outfit Nabbed In Kogi – Information Nigeria
Bobrisky vows to stab lady who threatened him over use of female toilet – Information Nigeria
Bryan Okwara’s clapback at this troll on his sexuality will leave you rooting for him – Ynaija
Buhari Re-election: Banky W, Simi, Debola Lagos Reportedly Contracted With N200M – Information Nigeria
Buhari Will Win In Sokoto, Kano, Bauchi Even On Sickbed ‘ Amaechi Boasts – Information Nigeria
Cameroonian Family Of 8 Die In Their Sleep In Cross River State (Graphic Photos) – Information Nigeria
Cardi B and Offset Show Off His and Hers Lamborghinis – Nigerian Pilot
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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