Business News

Elon Musk’s Starlink, a satellite internet service, has announced the prices for its starter kits as preorder sales begin in Nigeria. Starlink made the announcement in statement on Tuesday. The development follows the company’s plans to roll out and expand its services to Nigeria this year. According to the statement, interested customers can preorder the starter kits at the price of $600 (N438,000 at the current parallel market exchange rate) for the hardware. Starlink also said customers will pay $43 (N31,390) per month for subscription to its services. “Order now to reserve your Starlink. Starlink expects to expand service in…
You have committed to first avoiding, at all costs, passing on price increases to your most important retail partners and customers. You've shored up your current customers. You've created new revenue streams. You've innovated marketing. You've reduced overhead. You've synergized to share expenses. You've restructured compensation. You've implemented automation. You've deferred your own pay. And it's still not working. You're still losing money. Now what? This entire series has been dedicated to avoiding, at all costs, passing on price increases to your most important retail partners and customers. But nothing else has worked. How can you pass along increases without…
Debt Management Office (DMO) has announced an offering for two federal government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. The offer, which marks DMO’s first issuance for 2023, will be opened on January 3 and close by January 6. The FGN savings bond offer is tailored and targeted at retail investors with guaranteed quarterly interest payment and repayment of the principal at maturity. In a statement on Monday, DMO said the first bond is a two-year FGN savings bond maturing on January 11, 2025, at an interest rate of 9.6 percent per annum. The second issuance…
We spend so much of our lives as entrepreneurs hunting for opportunities. What if new opportunities become the very thing that distracts us from our true goals? I’ve seen many talented business leaders and employees, myself included, wind up led astray by opportunity. This is an inherently challenging situation to recognize. It means we need to know when to say no to something, which is the opposite of the “say yes to everything” advice we get when we’re young, ambitious and hungry for the first rung of just about any ladder. Checking in with personal goals is one of the…
What is business? A good friend and former investigative journalist recently challenged me: If I say we should reject the conventional business-is-war paradigm, what would take its place? I am very clear that the new paradigm is love. Business is love. When you are really still, you may know it too. Stay with me. I define love as energy that uplifts and connects. As a society, isn't that the purpose of the enterprise we call business? As a leader, isn't that what you want your organization to do? That uplifting and connecting energy translates into more loyal employees, customers that…
Wema Bank’s board has appointed Moruf Oseni, the bank’s deputy managing director, as its new chief executive. The development followed the imminent retirement of the current CEO Ademola Adebise, who exits the bank at the end of the first quarter of 2023. Wole Akinleye, an executive director, will fill the void Oseni will be leaving by taking up the deputy managing editor’s role. On 2 January, 2023, Adebise will commence a terminal leave, the culmination of his 13-year service to the bank. Under his stewardship, Wema Bank’s asset base grew by 155 per cent to over N1.2 trillion, and its…
As 2022 winds to a close, I think we can all agree on one thing – it's been a weird year. With the worst of the pandemic (hopefully) behind us, many people have emerged blinking into the light from two years in survival mode, looked around and wondered: What do I want to do with my life now? That confused determination to chart a new course is reflected in persistently high quit rates, ballooning interest in entrepreneurship and digital nomadism, a surge in labor organizing and millions of posts, articles and think pieces about just how many of us are…
Company growth is the ultimate strategic challenge, and it gets harder as your business matures. Once your business is running and sustainable, you're expected to grow quickly as an indication of long-term health and competitiveness. Thus continued growthbecomes the biggest challenge for many business owners I meet in my consulting practice. Everyone is looking for that magic strategy that will keep them growing even during market and company changes. In fact, I have long believed continual growth gets more and more difficult as your company gets bigger and more mature, as your organization develops repeatable processes and adds overhead to…
Wednesday, 28 December 2022 05:56

Why fear is the entrepreneur's best friend

During a recent fireside chat with the Metro Atlanta Chamber (hosted by my friend John Yates), I was asked whether there was some magic pill that I take that helps me get up and keep fighting the entrepreneurial good fight every day. My answer: Yes, it’s called fear. I drink it every morning. There’s something really powerful about the idea of fear within the entrepreneurial experience. Entrepreneurship is, at its heart, an incredibly scary thing; individuals are laying everything on the line to pursue an idea, dream or passion. Often, new business founders are putting themselves at an incredible risk…
As a mentor to many business professionals and owners who want more, and to aspiring entrepreneurs, I find a wealth of innovative ideas, but often less insight on what it really takes to transform ideas into an income stream that can excite new customers into long-term business success. Thus, my guidance is usually more on the realities of creating a business, rather than critiquing ideas. For example, innovative technologists often come up with a new device or app, just because they can and assume everyone will want one. Social entrepreneurs pitch me their latest idea for reducing world hunger (such…
May 15, 2025

Decision making rule that helps you focus, make smarter choices, and think like a CEO

Marcel Schwantes Having coached executive leaders for two decades, I know they are bombarded with…
May 12, 2025

Northern leaders demand urgent action on insecurity, push for state police

Amid worsening insecurity across Nigeria, the 19 Northern governors and traditional rulers have called for…
May 16, 2025

Maple syrup and honey are both natural sweeteners. Which is better for you?

Sarah Jacoby Natural sweeteners — especially maple syrup and honey — have taken over social…
May 10, 2025

Town residents involutarily get high after Police burn 20 tons of confiscated cannabis

The 25,000 residents of Lice, a town in Turkey’s Diyarbakır province, involuntarily got high after…
May 14, 2025

Boko Haram, ISWAP terrorists attack four military bases in Borno within 24 hours, soldiers killed

Tension is rising in Borno State after Boko Haram and ISWAP insurgents attacked four military…
May 16, 2025

Here’s the latest as Israel-Hamas war enters Day 588

Israeli army kills five Palestinian militants in West Bank after pregnant settler killed Israel's military…
May 11, 2025

African diet – plantains and cassava can be as healthy as tomatoes and olive oil,…

Plantains, cassava and fermented banana drink should be added to global healthy eating guidelines alongside…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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