Business News

Tuesday, 20 May 2025 04:32

Within 5 years, '70% of skills used in most jobs will change,’ LinkedIn report says—how you can keep up

AI will upend much of how we function in the workplace — at least according to new LinkedIn data. "By 2030, 70% of skills used in most jobs will change," says Andrew Seaman, LinkedIn news editor at large for jobs and career development. LinkedIn determined which skills are used in most jobs by combining the skills companies are currently listing in job descriptions and skills individuals are listing in their profiles. They then made their calculations considering historical shifts in skills and projections around AI-replicable skills. Seaman doesn't think these skills will be replaced altogether. Instead, they'll evolve. And other…

Monday, 19 May 2025 04:37

Why we need to embrace the 'S' word to drive business success

Sudhir Chaturvedi When did the word "sales" become taboo? Regardless of whether you're offering a product or service, the essence of every business is rooted in effective sales. Yet, we often shy away from the term, opting for titles like business development lead, client advisor, or account manager. Why does the word "salesperson" evoke such discomfort? Growth Solves All Problems In business, growth creates a virtuous cycle. Sales drive initial growth, creating headroom for more investments. These additional investments can then fuel expansion into new markets or innovations, sparking further growth. Success begets success, making the company more attractive not…

Saturday, 17 May 2025 04:38

Nigeria's major producer halts oil feeds into key pipeline for crude exports after burst

Nigerian oil firm Renaissance Energy has halted production on one line feeding into the Trans Niger oil pipeline, a major oil artery transporting crude from onshore oilfields to the Bonny export terminal, following an operational incident, it said on Friday. An environmental rights group said on Thursday that the pipeline burst on May 6 and spilled oil into the local B-Dere community in Ogoniland, the second such incident affecting the pipeline in two months. The halted pipeline goes through B-Dere community to join the Trans Niger Pipeline. Nigerian oil consortium Renaissance Group, which now owns Shell's former onshore subsidiary that…

Thursday, 15 May 2025 04:32

Nigerian Stock Market rebounds as market cap rises by N314bn

The Nigerian Exchange Limited (NGX) reversed its recent downward trend yesterday, closing on a positive note as market capitalization increased by N314 billion amid strategic buying in Beta Glass and 39 other stocks. The All-Share Index (ASI) gained 501.14 points, representing a growth of 0.46 percent to close at 108,762.61 points. Market capitalization rose correspondingly to close at N68.357 trillion. The market's upward movement was driven by gains in medium and large capitalized stocks, including Beta Glass, Oando, Nigerian Breweries, Transnational Corporation (Transcorp), and Industrial and Medical Gases. Market Analysts Project Continued Growth Market analysts remain optimistic about the exchange's…

Thursday, 15 May 2025 04:24

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 decisions—big and small—every day. Do I take this call? Launch this product? Respond to that email? Hire this person? It’s easy to fall into reactive mode, making snap decisions under pressure. Urgency has its place, but rushing to meet other people’s expectations rarely leads to clarity or long-term success. The best leaders learn to pause, step back, and focus on what truly matters—for them, their teams, and their business—before they act. One of the simplest and most effective tools I’ve come across is the 10-10-10…

Tuesday, 13 May 2025 04:41

NGX records significant growth in Q1 2025 trading activity

The Nigerian Exchange Limited (NGX) reported a remarkable 44.8% surge in equity transactions for Q1 2025, with total trading volume reaching N2.23 trillion compared to N1.54 trillion in the same period last year. According to NGX's 'Domestic & Foreign Portfolio Investment Report' released Monday, foreign investors accounted for N814.05 billion in transactions, while domestic investors contributed N1.41 trillion during the quarter. March 2025 saw particularly strong performance with total transactions jumping 118.95% to N1.16 trillion from February's N509.47 billion. This represents a 107.14% increase compared to March 2024 figures. Notably, foreign investors outperformed domestic players by approximately 26% in March,…

Monday, 12 May 2025 04:39

5 leadership strategies to help teams thrive amid uncertainty

Mark C. Crowley Uncertainty has become a defining feature of life today, a reality that challenges workplace leaders to adapt rapidly, make decisions with limited information, and foster stability amid constant and sometimes highly erratic change. At the same time, this uncertainty directly affects employees, making it incumbent upon leaders to provide the support and direction their teams need to successfully navigate an unpredictable world with both resilience and clarity. It goes without saying that the role of a leader has grown increasingly more complex, requiring us to instill stability, foster adaptability, and maintain focus without being overwhelmed by the…

Sunday, 11 May 2025 03:16

Petroleum marketers to Dangote: We’re no cabal; we only have vested interest just like you

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) says no cabal in the midstream and downstream sector, just individuals with vested interests. On May 1, Aliko Dangote, president of the Dangote Group, said he was still fightingcabals for the survival of his $20 billion refinery — subsequently describing “cabals” as some major oil marketers and traders. Speaking in an interview with TVC on Friday, Olufemi Adewole, executive secretary of DAPPMAN, described the use of “cabals” by Dangote as being “negative” and “subversive”. “There is no cabal in the midstream and downstream operations as far as I am concerned,…

Sunday, 11 May 2025 03:16

Nigeria's manufacturers face losses amid FX scarcity and depreciation

The Manufacturers Association of Nigeria (MAN) has reported significant financial losses due to foreign exchange scarcity and depreciation. Kamoru Yusuf, Chairman of MAN's Basic Metals, Iron and Steel Fabricated Metal Sectoral Group and National Council member, revealed this during a visit by the Armed Forces Staff and Command College Senior Course 47 to his KAM Holding Limited facility in Ilorin, Kwara State. Yusuf explained that manufacturers are unable to remit payments for previously imported raw materials that have already been processed into finished goods and sold when exchange rates were considerably lower than current levels. Speaking on his behalf, KAM…

Saturday, 10 May 2025 04:35

Marketers import N2.4tn petrol as competition with Dangote Refinery intensifies

Tensions have escalated between major oil marketers and the Dangote petroleum refinery as they compete for control of Nigeria's downstream oil sector. Aliko Dangote recently stated his $20bn refinery is "fighting for survival" against what he describes as sabotage by oil sector cabals resisting local refining. Despite this, he expressed confidence in eventual success. Between March 1 and May 9, 2025, marketers imported 2.57 billion liters of petrol valued at approximately N2.42tn, choosing foreign suppliers over the Dangote facility. March saw imports of 755.7 million liters, April surged to 1.47 billion liters, and the first 10 days of May brought…

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Thursday, 08 May 2025 03:50

‘Don’t worry’ about your salary early in your career, says Warren Buffett: Focus on this instead

I worked at a financial magazine for much of my 20s, and for the most part I pulled down a very modest salary compared with many of my peers. I always tell people it was worth it, because I got an education. Writing and fact-checking that publication gave me access to a level of financial literacy I might never have found had I taken an internship at “Garden & Gun” or “US Weekly.” The people I worked with had spent decades in newsrooms and had forgotten more about personal finance than I’ll likely ever learn. They showed me how to…

Wednesday, 07 May 2025 02:52

Nigerian equities market surges as investors gain ₦1.045trn

The Nigerian stock market maintained its bullish momentum on Tuesday, with investors recording substantial gains of ₦1.045 trillion on the Nigerian Exchange Ltd. Market capitalization increased by 1.56% to reach ₦68.105 trillion, up from Monday's close of ₦67.060 trillion. Similarly, the All-Share Index (ASI) climbed by 1,662.60 points or 1.56%, settling at 108,361.10 from the previous day's 106,698.50. This upward trend was fueled by strong investor interest in medium and large-cap stocks, particularly in the financial sector, including Access Corporation, Guaranty Trust Holding Company, and United Bank for Africa. The market showed positive breadth with 42 gainers outpacing 25 losers.…

Tuesday, 06 May 2025 04:31

Amazon CEO: Successful people ask this question more often

Growing up, I was super inquisitive. I always needed explanations. “Why is the sky blue? Why does my hair grow so coily? Why can’t I have sleepovers like my friends?” I would ask. Sometimes, I’d get an actual answer. Other times, I’d get the dreaded, “Because I said so.” Even though it was probably annoying, I continued to question, and I continue to do so today.That’s a good quality to have, according to Amazon CEO Andy Jassy. He has noticed that the employees and teams who most ask “Why?” and prod for more answers are most successful: They’re the ones…

Monday, 05 May 2025 04:34

‘I’ve been fighting all my life, and I’ll win at the end of the day’, Dangote says of the battle to save his refinery from ‘cabals’

The President of Dangote Group, Aliko Dangote, says he is still fighting for the survival of his $20bn refinery, stressing that the fight is not yet finished. Dangote expressed optimism that he would win the fight for the refinery, stating his determination to fight on. According to Semafor, an international news medium, Africa’s richest man spoke at an investor forum in Lagos on Friday. The report stated that Dangote pointed out that some individuals who “for a very, very long time” have “made a lot of money from” government-subsidised oil imports into Nigeria, were the ones trying to sabotage the…

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