Super User

Super User

The Federal Accounts Allocation Committee (FAAC) has distributed N1.298 trillion to the federal government, states, and local government councils (LGCs) for September, 2024. This was disclosed in a communiqué issued after the FAAC’s October meeting, held in Abuja.

Bawa Mokwa, the Director of Press and Public Relations at the Office of the Auditor-General of the Federation (OAGF), shared the details with journalists. According to the communiqué, the total distributable revenue of N1.298 trillion included N124.716 billion from statutory revenue and N543.518 billion from Value Added Tax (VAT).

Additional sources of the distributable revenue were N18.445 billion from the Electronic Money Transfer Levy (EMTL), N462.191 billion from exchange differences, and an augmentation of N150 billion. The total available revenue for September was reported as N2.258 trillion.

Out of this, N80.993 billion was deducted for collection costs, while N878.946 billion was allocated to transfers, interventions, and refunds. The gross statutory revenue for September amounted to N1.043 trillion, which was a decrease of N177.426 billion from the N1.221 trillion collected in August.

VAT collections for September totaled N583.675 billion, an increase of N10.334 billion compared to the N573.341 billion collected in August.

From the total distributable revenue of N1.298 trillion, the federal government received N424.867 billion, while state governments got N453.724 billion. Local governments were allocated N329.864 billion, with an additional N90.415 billion (13% of mineral revenue) going to oil-producing states as derivation revenue.

Regarding statutory revenue, the federal government received N43.037 billion, state governments N21.829 billion, and local governments N16.829 billion. A further N43.021 billion in mineral revenue was allocated to the oil-producing states.

From the N543.518 billion in VAT revenue, the federal government received N81.528 billion, state governments N271.759 billion, and local governments N190.231 billion.

The communiqué noted that Oil and Gas Royalty, Excise Duty, EMTL, and CET Levies showed substantial increases, while VAT and Import Duty recorded marginal growth. However, Petroleum Profit Tax (PPT) and Companies Income Tax (CIT) saw significant declines.

The National Security Adviser (NSA), Nuhu Ribadu, has said that a sizable number of illicit arms being used to commit crimes in the country originally belonged to the government.

Ribadu said this on Thursday during the Arms Destruction Exercise organised by the National Centre for the Control of Small Arms And Light Weapons (NCCSALW), Office of the National Security Adviser (ONSA), at Muhammadu Buhari Cantonment Giri, Abuja.

He explained that the weapons ended up in the hands of non-state actors due to corrupt elements within the security agencies.

The NSA condemned and rained curses on the security personnel who facilitate the movement of weapons to terrorists, bandits and other non-state actors.

He assured that the government would do everything possible to ensure the country’s safety, security, and protection.

“We have to find a way of putting a stop to this. We must if we want to recover our country and live in peace and stability.

“The worst human being is a policeman or a soldier who will take arms from his own formations and sell it or hire it out for the bad people to come and kill his own colleagues.

“We must fight these people but also there are merchants of death and evil from outside the world.

“The proliferation of illicit small arms and light weapons remains a major threat to our national security, exacerbating issues such as insurgency, banditry and other violent crimes,” he said.

Ribadu said the arms destruction exercise was one of several conducted by the centre in the past, and it was a major focus and a decisive step in the concerted effort to address the challenge of arms proliferation in Nigeria.

The NSA said the federal government had remained committed to providing the necessary support to the centre towards ensuring the safety of every Nigerian.

According to him, by destroying unserviceable, obsolete and recovered arms, we are demonstrating our commitment to a secure future for all Nigerians.

“All illicit arms, not only unserviceable, all illicit. Any weapon that is taken is out there that is through an illegal process.

“We have laws that govern ownership of small arms. If you do not follow it, it is an illegal arm and it is supposed to be destroyed completely,” he added.

The Director-General of NCCSALW, Johnson Kokumo, said the arms destruction exercise was the third in a series since the centre was established and the first since his assumption of command.

Kokumo, a retired deputy inspector general of police, said the challenge posed by the proliferation of SALW was one of the major threats to peace and security in Nigeria and the West African sub-region.

He said the exercise would witness the destruction of over 2,400 illicit weapons, comprising a mix of unserviceable, decommissioned and recovered arms.

“These weapons have been mopped up by the military, police and other security agencies across the country.

“By permanently removing these arms from circulation, we reduce the risk they pose to our communities and send a clear message that Nigeria will not tolerate the illegal trafficking and possession of small arms and light weapons.

“It is also important to state that the National Centre has in its custody some recovered/captured illicit SALW still undergoing tracing as well as investigations and legal processes.

“These include the illicit weapons handed over to the centre by the Nigeria Customs Service.

“These categories of weapons would be destroyed on completion of the proceedings during subsequent routine destruction exercises,” he said.

Kokumo said the destruction had successfully removed thousands of illegal dangerous weapons from circulation with serious security implications for the country.

According to him, this exercise is in line with the provisions of Article 17 of the ECOWAS Convention on small arms and light weapons as well as the UN Programme of Action to Prevent, Combat and Eradicate the Illicit Trade in SALW.

He thanked the NSA and the military for supporting the Centre in meeting its constitutional mandate.

The event was attended by the Chief of Defence Staff, Christopher Musa, representatives of the services chiefs and heads of other security agencies.

 

NAN

Friday, 18 October 2024 04:54

FG receives 1m doses of malaria vaccine

 

The federal government on Thursday received one million doses of the R21/Matrix-M malaria vaccine donated by Gavi, the Vaccine Alliance.

It is the first-ever malaria vaccine delivered to the federal government, ahead of the rollout in the country.

Speaking during the handover ceremony in Abuja, the Coordinating Minister of Health and Social Welfare, Muhammad Ali Pate, said the arrival of the malaria vaccine was a monumental step in the country’s efforts to reduce malaria morbidity and mortality.

He said, “With the support of UNICEF, Gavi, and WHO, we are on a path toward achieving our goal of a malaria-free Nigeria.”

He said vaccines helped prevent diseases from happening, adding that they also provided an opportunity for every child to live a healthy life.

He said, “Every child that has full course of the vaccine has an opportunity to live a healthy life. A child that is immunised against a disease has an opportunity to live a life free of that disease. So it’s a miracle, but it’s also a source of opportunity.”

While saying that the vaccines were safe and effective, he enjoined Nigerians to utilise the opportunity to get their children and wards vaccinated against malaria.

The executive director of the National Primary Health Care Development Agency (NPHCDA), Muyi Aina, said Nigeria was among the top 10 contributors to the global burden of malaria, accounting for approximately 27% of the global burden and 31% of malaria deaths worldwide.

He said in 2022, nearly 200,000 deaths from malaria occurred in Nigeria. Children under five years of age, and pregnant women were the most affected, with a national malaria prevalence rate of 22% in children aged 6-59 months as of 2021.

He said, “The vaccine would quicken our malaria control and elimination efforts, as we expect about 13% reduction in all-cause mortality in children under five and a 22% reduction in hospitalized severe malaria cases.”

He highlighted that the WHO recommends prioritization of the vaccine in areas of high to moderate transmission and this is guiding our phased introduction strategy.

Aina said consequently, Nigeria will commence the first phase of the malaria vaccine roll out  in November, in two States – Kebbi and Bayelsa, with high prevalence of malaria.

He added that  Kebbi was chosen because it has the highest prevalence rate in the country (52%); while Bayelsa was selected because its target population of 69,935, and that of Kebbi’s 162,014, aligns with the one million doses available for the phase.

He said the vaccine will be administered to children aged five months to 15 months as part of Routine Immunization. “Each child requires four doses, given at 5, 6, 7, and 15 months of age, to be fully protected.

“The introduction will be expanded to other States and integrated into our national routine immunization schedule, as we receive additional doses.  The second phase will target 19 States and FCT, while the third phase will target the remaining 15 States. Both phases are scheduled for 2025,” he added.

Meanwhile a joint statement from UNICEF, GavI, the  World Health Organization ( WHO) and NPHCDA said the historic handover of the vaccines marks a critical milestone in the fight against malaria, a disease that continues to claim the lives of thousands of children under five every year in Nigeria.

The Statement said Nigeria’s Federal Ministry of Health has been leading critical malaria control interventions, including the distribution of Long-Lasting Insecticide-Treated Nets (LLINs) and Seasonal Malaria Chemoprevention (SMC).

It added that the introduction of the malaria vaccine marks another powerful tool in the country’s comprehensive strategy to combat the disease.

UNICEF and Gavi have played crucial roles in supporting the procurement and distribution of the vaccines. The cost of vaccines, transport and administration are supported by Gavi and the Government of Nigeria, with UNICEF responsible for procurement and shipment, and working with WHO to support administration.

Cristian Munduate, UNICEF Representative in Nigeria said, “This is a landmark moment in our collective mission to save lives and protect children from preventable diseases like malaria,” said The introduction of this vaccine will be life-changing for millions of Nigerian families, especially in the regions most affected by malaria.”

Gavi, emphasized the critical role of global collaboration in the fight against malaria.

Tokunbo Oshin, Director of High Impact Countries, Gavi, the Vaccine Alliance said, “Malaria remains one of Nigeria’s and Africa’s deadliest diseases, taking the lives of hundreds of thousands of children under the age of 5 each year. Rolling out this vaccine, alongside the other powerful tools we have to fight this disease, represents a major step forward towards our goal of a malaria-free future.

“We look forward to working with the government of Nigeria, WHO, UNICEF, the Global Fund, civil society and other partners towards a successful rollout.”

Walter Mulombo, WHO Representative in Nigeria said, “We are confident that this vaccine in combination with other preventive measures will drastically reduce the burden of malaria in Nigeria and help us move closer to achieving the goal of a malaria free Africa.”

 

Daily Trust

Festus Keyamo, minister of aviation and aerospace development, says Nigeria’s score on the Cape Town Convention (CTC) compliance index has been increased from 70.5 percent to 75.5 percent.

The CTC compliance index monitors and assesses compliance by contracting states to the Convention on International Interests in Mobile Equipment and Aircraft Protocol (the CTC) with their respective undertakings.

In a statement on Thursday by Tunde Moshood, Keyamo’s special adviser, the minister said the development marks Nigeria’s official removal from the aviation working group (AWG’s) watchlist of non-compliant countries.

“Nigeria’s global aviation compliance score has seen a significant improvement following the signing of the Administrative Rules governing aircraft repossession by creditors and lessors, known as the Irrevocable De-registration and Export Request Authorization (IDERA),” he said.

“The Aviation Working Group (AWG) announced yesterday that Nigeria’s score on the Cape Town Convention (CTC) Compliance Index has been increased from 70.5% to 75.5%, placing the country in the ‘high category.”

According to the statement, in a communication to Keyamo, the AWG confirmed that the signing of the IDERA “concludes Nigeria’s compliance process, unlocking numerous opportunities for the country’s aviation sector”.

“This milestone is expected to open new avenues for aircraft financing and dry-leasing for Nigerian airline operators, ensuring greater access to aircraft leasing markets globally,” the statement reads.

The minister said the development would positively impact the Nigerian public by increasing flight frequency, expanding serviced routes, and lowering ticket prices.

On September 12, the Nigerian government had officially signed the Cape Town Convention (CTC) practice direction to enable domestic airline operators access aircraft on dry lease.

Following the signing, the AWG increased Nigeria’s CTC compliance index score from 49 percent to 70.5 percent — implying that the country is considered safe for aircraft leasing by the aviation body.

 

The Cable

Hezbollah says it will escalate war with Israel after Hamas leader killed

Lebanon's Hezbollah militant group said on Friday it was moving to a new and escalating phase in its war against Israel while Iran said "the spirit of resistance will be strengthened" after the killing of Hamas leader Yahya Sinwar.

Sinwar, a mastermind of the Oct. 7, 2023, attack that triggered the Gaza war, was killed during an operation by Israeli soldiers in the Palestinian enclave on Wednesday, a pivotal event in the year-long conflict.

Western leaders said his death offered an opportunity for the conflict to end, but Israeli Prime Minister Benjamin Netanyahu said the war would go on until the hostages seized by Hamas militants were returned.

"Today we have settled the score. Today evil has been dealt a blow but our task has still not been completed," Netanyahu said in a recorded video statement after the death was confirmed on Thursday.

"To the dear hostage families, I say: This is an important moment in the war. We will continue full force until all your loved ones, our loved ones, are home."

Sinwar, who was named as Hamas' overall leader following the assassination of political chief Ismail Haniyeh in Tehran in July, was believed to have been hiding in the warren of tunnels Hamas has built under Gaza over the past two decades.

He was killed during a gun battle in southern Gaza on Wednesday by Israeli troops who were initially unaware that they had caught their country's number one enemy, Israeli officials said.

The military released drone video of what it said was Sinwar, sitting on an armchair and covered in dust inside a destroyed building.

Hamas has not made any comment itself, but sources within the group have said the indications they have seen suggest Sinwar was indeed killed by Israeli troops.

'CHIEF OBSTACLE'

Despite Western hopes of a ceasefire, Sinwar's death could dial up hostilities in the Middle East where the prospect of an even wider conflicthas grown.

Israel has launched a ground campaign in Lebanon over the past month and is now planning a response to an Oct. 1 missile attack carried out by Iran, ally of Hamas and Lebanon's Hezbollah.

But the demise of the man who planned the attack last year in which fighters killed 1,200 people in Israel and captured more than 250 hostages, according to Israeli tallies, could also help push forward stalled efforts to end the war in which Israel has killed more than 42,000 Palestinians, according to Gaza health authorities.

U.S. President Joe Biden, who spoke to Netanyahu by phone to congratulate him, said Sinwar's death provided a chance for the conflict in Gaza to finally end and for Israeli hostages to be brought home.

The U.S. wants to kick-start talks on a proposal to achieve a ceasefire and secure the release of hostages, U.S. State Department spokesperson Matthew Miller said, calling Sinwar the "chief obstacle" to ending the war.

"That obstacle has obviously been removed. Can’t predict that that means whoever replaces (Sinwar) will agree to a ceasefire, but it does remove what has been in recent months the chief obstacle to getting one," he said. In recent weeks, Sinwar had refused to negotiate at all, Miller said.

Iran indicated no sign the killing would shift its support. "The spirit of resistance will be strengthened" following the death of Sinwar, its mission to the United Nations said.

Hezbollah was also defiant, announcing "the transition to a new and escalating phase in the confrontation with Israel".

U.S. Secretary of State Antony Blinken held separate phone calls on Thursday with leaders in Saudi Arabia and Qatar aimed at ending the conflict in the Middle East, the State Department said.

NO COMFORT, NO COMPROMISE

Families of Israeli hostages said that while the killing of Sinwar was a significant achievement, it would not be complete while hostages are still in Gaza.

Avi Marciano, the father of Noa Marciano, who was killed in captivity by Hamas, told Israeli broadcaster KAN that "the monster, the one who took her from me, who had the blood of all our daughters on his hands, finally met the gates of hell."

"A little justice, but no comfort," he said. "There will be comfort only when Naama, Liri, Agam, Daniela and Karina, our girls' friends, return home."

In Khan Younis in the south of the Gaza Strip, a displaced Palestinian named Thabet Amour told Reuters the Palestinian fight would continue.

"This is resistance that does not disappear when men disappear," he said. "The assassination of Sinwar will not lead to the end of the resistance or to a compromise or surrender and raising the white flag."

 

Reuters

WESTERN PERSPECTIVE

Ukraine's Zelenskiy says North Korean officers deployed alongside Russians

Ukraine's president accused North Korea on Thursday of deploying officers alongside Russia and preparing to send thousands of troops to help Moscow's war effort, although NATO's chief said there was no evidence of Pyongyang's presence at this stage.

Western countries have long accused North Korea of sending weapons to Russia, and in recent days President Volodymyr Zelenskiy has said it was also sending personnel, a significant escalation of foreign assistance for Moscow's invasion.

"We have information from our intelligence that ... some officers of the North Korean army are already on Ukrainian territory temporarily occupied by the Russian enemies. So they joined the Russian army," Zelenskiy told a press conference in Brussels.

He said he could not give the exact number that were on the ground.

"We know about 10,000 soldiers of North Korea, that they are preparing to send to fight against us," he said, describing it as a "first step to the World War".

Ukraine's Western allies have yet to confirm Kyiv's assertion that Pyongyang is sending troops, though they say they are studying it.

NATO Secretary-General Mark Rutte said in a press conference alongside the Ukrainian leader on Thursday that "we have no evidence that North Korean soldiers are involved in the fight".

"We do know that North Korea is supporting Russia in many ways – by weapon supplies, technological supplies, innovation – to support them in the war effort, and that is highly worrying," he said.

White House National Security Council spokesperson Sean Savett said on Tuesday any North Korean troop involvement in Ukraine, if true, would mark a significant increase in the Moscow-Pyongyang defence relationship.

Zelenskiy said Russia needs to fill a gap in mobilisation and cover its own personnel losses.

Ukraine and the West say hundreds of thousands of Russians have been killed or wounded fighting in Ukraine, while Ukraine's own military losses, a closely guarded secret, are also high but smaller. Moscow's forces have advanced over the past several months in Ukraine's east.

Advertisement · Scroll to continue

Ukraine has called on allies to respond firmly to North Korean aid for Russia, including by imposing new sanctions and further isolating Pyongyang.

 

RUSSIAN PERSPECTIVE

Yearly plan for staffing of armed forces with contract servicemen 78% complete — Medvedev

The Russian Armed Forces’ yearly staffing plan for contract servicemen has been fulfilled by 78% by mid-October, Russian Security Council Deputy Chairman Dmitry Medvedev said, calling this rate "rather good."

"Today, we will continue our work on the staffing of the armed forces with contract servicemen. By mid-October of this year, the set yearly goal has been fulfilled by 78%. Overall, this rate is rather good," Medvedev said during a meeting. The video was published on his VK page.

He called to prevent delays and other staffing problems.

Medvedev disclosed that he visited a recruitment station in the Yaroslavl Region together with employees of the Russian Prosecutor’s Office and the Federal Security Service (FSB) on Tuesday.

"Compared to the previous year, the situation looks much better now. No systemic violations in the accounting of servicemen have been found, but individual problems are still there. We will talk about them, of course. We will definitely need to work to eliminate all problems," the official said.

Earlier in July, Medvedev said that 190,000 people signed up for the contract service in the Russian Armed Forces in the first six months of 2024.

 

Reuters/Tass

This was tough to write. My heart resisted it, but I yielded to my head. The petrol in my car, a 2.0-litre 2012 Tokunbo Camry, was at half-tank the day before writing.

When pump prices went from 195/litre to 617/litrebetween May and June 2023, I parked my SUV and, despite being occasionally mistaken for an Uber driver, opted for the saloon, which, as of the third fuel price increase by September this year, cost about 65k to fill up.

After petrol pump price went up again by about 15 percent last week, it would now cost about 80k to fill up the saloon, depending on where you bought petrol from and how badly the pump was rigged.

The changes in petrol price and energy costs have affected everything else, from the price of fish to milk and the cost of bread and grains. Essential medicines are a different thing altogether. Life was hard. But it’s been a nightmare for millions more since President Bola Tinubu’s government was inaugurated.

Generation crisis

In July, The Financial Times said the hardship under Tinubu has triggered “the worst cost of living crisis in a generation.” The newspaper gave the president credit for tackling two of the most malignant economic problems in decades – the petrol subsidy and fixed exchange rate – but said the shock therapy was so disjointed that calling it “Tinubunomics” would be a joke.

But Nigerians hardly need a foreign newspaper to render their misery in torrid colours. They know this was not the life promised. Tinubu pledged to prioritise security and jobs, tackle the mounting debt, and improve infrastructure when he took office. He came with a pro-business credential and a track record of success in Lagos that was difficult to ignore.

In the last year, however, with millions impoverished by the government’s economic policies and two major nationwide protests against hunger and bad governance, Tinubu’s reputation has taken such a severe beating that promises of light at the end of the tunnel have been brushed aside.

Turn of excuses?

His government has explained that the rot was worse than expected; that whereas previous governments since 1973 said oil money was not the problem, but how to spend it, President Muhammadu Buhari handed his successor an empty treasury, to which the response has been: yours is a continuation of the APC government, deal with it.

Complaints about post-Covid-19 supply chain problems, long-standing structural problems, the protracted legal challenge to his election, and a hostile opposition have also been dismissed as untenable for a man who said it was his turn to govern.

Temptation

Yet, I wouldn’t write off the government, however tempting. If Tinubu’s shock therapy has been disjointed, and his economic policies severely criticised by a despairing public, the tax-and-spend remedy by TheFinancial Times, the West’s standard response to budget deficits – apart from the added trope about transparency and corruption – is hardly the cure in Nigeria’s case for at least two reasons.

Apart from severe loopholes, rampant poverty makes it difficult to expand the tax net or improve the yield, except if the government wishes to levy taxes on blood. Poor industrialisation, even de-industrialisation, and heavy dependence on imports, especially food imports, compound the problem and further reduce wiggle room to raise badly needed cash.

For Tinubu to dig Nigeria out of its current hole – and I believe he still can – efforts to restructure government income, including taxes, by repurposing the Federal Inland Revenue Service (FIRS) must be matched by policies that create wealth.

Options for compound problems

The government should intentionally target industrialisation and food production, with reduced foreign input. Unfortunately, widespread floods have piled on insurgency and kidnapping to reduce farm supplies and worsen food inflation.

Yet, while elites like me complain the most and the loudest, the measure of Tinubu’s success is not how much petrol I’m able to buy in my car but the impact of government policies on the rural poor, mainly farmers, who make up the bulk of the country’s 220m population.

Tinubu must work with Nigeria’s state governors, who collect security votes monthly before thinking of what to do with it to fix the security problem so that farmers can return. The country needs a system to incentivise farming, one far better managed than the Anchor-borrowers’ scheme under which the Buhari government staged occasional shows of huge grain pyramids that disappeared as soon as the events were over.

Examples from elsewhere

There would be no easy options. Examples of countries that have turned things around show that their leaders defied the norm in pivotal moments. Deng Xiaoping reversed Zedong’s isolationism by introducing market reforms and imposing a one-child policy.

Lee Kuan Yew ignored Western prescriptions of democracy, even laying down markers for the foreign-owned Strait Times, limited protests, and restricted strikes and industrial actions.

Those who obsess about diversity and size would find India a good example. To the displeasure of the elite, Indira Gandhi focused on rural India. She achieved self-sufficiency in food production, reducing poverty and laying the groundwork for long-term national development.

One thing common to all three but lacking in Tinubu’s government is energy and speed of execution. For example, three months after he announced an interim measure to remove tariffs on grains and essential pharmaceuticals, the Customs have yet to get the memo – or perhaps they have, and it’s been washed up by red tape.

Sitting on the mines

Sadly, oil isn’t about to take the backstage soon. Yet, our assets, especially oil mining leases in seven blocks, including OML 111 and disputed Pan Ocean assets, have been poorly managed by NNPCL. The corporation that ought to be alarmed at divestments from the upstream and midstream is too busy piling on the government’s debt by brokering crude-for-loan deals to think of what to do with massive, fallow oil assets that it has cornered since 2009.

Experts estimate that prudent management of these assets could increase Nigeria’s production quota by between 500k bpd and 1m bpd and improve the pool of investible funds. How and why, despite his experience in the oil industry, Tinubu indulges NNPCL’s damaging and scandalous incompetence, only he can explain.  

Eat that frog!

But I’m not giving up on him yet. I’m hoping he was playing politics when the political pressure group, The Patriots, led by the statesman Emeka Anyaoku, visited him, and he said he needed to fix the economy before restructuring the country.

Except he prioritises that, the current system, which puts revenue sharing ahead of innovation, competition, production and reward, but instead creates a phantom of Abuja as Father Christmas, will continue to retard the country’s progress.

It's not Tinubu’s fault that the states are yoked to Abuja. However, he cannot make any lasting changes, keep his election promises on security, jobs, the economy, or infrastructure or even inspire the states to depart their waywardness without changing how the country is governed.

He starts to lose me, not when I pay a higher petrol price but when his actions show, irretrievably, that despite his solid credentials as an advocate of restructuring, he is determined to put the cart before the horse.

** Ishiekwene is Editor-In-Chief of LEADERSHIP and author of the bookWriting for Media and Monetising It.

 

 

 

Brent Gleeson

In high-performance organizations, leaders often prioritize technical know-how and measurable metrics. But dismissing soft skills as unimportant is a critical mistake that can lead to team breakdowns, missed opportunities, and poor results. According to a 2023 Harvard Business report, 76% of respondents identified empathy, communication, and the ability to manage conflict as essential leadership skills for driving team effectiveness, especially in diverse and remote work environments. Leaders who lack these soft skills may struggle to build trust and create psychologically safe workplaces, which are essential for team cohesion and innovation in high-performance settings . But organizations must adopt a deliberate, strategic, and deeply integrated approach to developing soft skills in order to maximize ROI, ensuring that these efforts are aligned with the company’s culture, core values, and business objectives.

Additionally, leadership and talent development initiatives often fail when they are not tightly integrated with an organization’s culture, values, and strategic objectives. Without this alignment, development programs can seem disconnected, leaving leaders ill-equipped to embody the behaviors and skills necessary to drive the organization forward. When training is isolated from the core values of the company, it risks becoming theoretical and irrelevant, leading to disengagement and poor application.

Studies show that organizations that embed leadership development within their cultural and strategic framework experience greater success in building high-performing teams, as it fosters consistent behaviors aligned with long-term business goals (Harvard Business) (PMI). Simply put, development efforts that ignore culture miss the opportunity to reinforce the very principles that give an organization its unique identity and competitive edge.

Here are seven key reasons why ignoring soft skills will lead to failure, proving that mastering them is indispensable for effective leadership.

1. Communication is Overrated – Until You Misunderstand Everyone

Leaders who dismiss communication as a soft, secondary skill inevitably face misunderstandings, misaligned goals, and conflict. Without clear, effective communication, teams cannot collaborate, and projects spiral into confusion. The inability to articulate a vision or resolve conflicts through dialogue results in missed deadlines, frustrated teams, and costly mistakes.

2. Empathy is for Pushovers – Until Your Team Walks Out

A lack of empathy may seem like tough leadership, but it’s a fast track to high turnover and disengagement. Empathy helps leaders understand the needs, concerns, and motivations of their team members. When leaders fail to practice empathy, employees feel undervalued and unmotivated, which can lead to a toxic work environment and talent exodus.

3. Adaptability is a Buzzword – Until Change Disrupts Everything

In today’s fast-paced business world, leaders who can't adapt to changing circumstances or industry shifts are quickly left behind. Teams look to leaders for stability during disruption, and without adaptability, leaders will cling to outdated methods. The result? Loss of competitiveness, stagnation, and missed growth opportunities. PMI research emphasizes that leaders who develop soft skills like collaboration, influence, and motivating others drive higher engagement and better results. In fact, leaders without these skills risk poor team performance and disengagement, especially when managing cross-functional or geographically dispersed teams, as these soft skills ensure alignment and shared purpose.

4. Emotional Intelligence is for the Weak – Until You Lose Control

Leaders without emotional intelligence (EQ) struggle to manage their own emotions and fail to recognize the emotional dynamics within their teams. This lack of awareness can lead to poor decision-making, unproductive conflicts, and an inability to build strong relationships. Without EQ, leaders are unable to inspire trust or navigate team dynamics, ultimately undermining their influence and effectiveness.

5. Listening is a Waste of Time – Until No One Feels Heard

Great leaders know that listening is just as important as speaking. When leaders don’t actively listen, they miss out on valuable insights, feedback, and the opportunity to foster innovation. Teams that feel unheard are disengaged and less likely to contribute meaningfully. Ignoring this essential skill leads to a lack of creativity and collaboration, and eventually, organizational stagnation.

6. Conflict Resolution is for HR – Until Your Team Implodes

Conflict is inevitable in any workplace, but without effective conflict resolution, teams descend into chaos. Leaders who avoid dealing with conflicts create toxic environments where issues fester, morale plummets, and productivity suffers. The failure to navigate conflicts constructively leaves teams fractured and unable to move forward effectively.

7. Building Relationships is for Socialites – Until Your Network Crumbles

Relationships are the foundation of effective leadership, particularly in high-performance organizations. Leaders who dismiss relationship-building as unnecessary will find themselves isolated and lacking support from their peers, subordinates, and superiors. Failing to build strong professional networks limits collaboration, stifles innovation, and ultimately hampers leadership success.

Soft Skills Are the Backbone of Leadership Success

While it may be tempting to focus solely on hard skills and technical expertise, soft skills are what truly drive leadership success in high-performance organizations. Leaders who fail to invest in these critical areas - whether through in-person training, performance management SaaS platforms, or other resources - risk losing not only their teams but also their own ability to lead effectively. To be a successful leader, mastering communication, empathy, adaptability, emotional intelligence, listening, conflict resolution, and relationship-building is non-negotiable.

 

Forbes

Low and medium countries across the world, which are battling extreme poverty including Nigeria, may need upward of 100 years to end the scourge, the World Bank has suggested.

A person is defined as poor if he lives on less than N10,275 or $6.85 per day. However extreme poverty refers to those who live below $2.15 or N3,225 per day.
The latest projections are contained in the ‘Poverty, Prosperity and Planet Report’, which offers the first post-Covid assessment of global progress toward ending poverty and increasing prosperity.

The report also submitted that ending extreme poverty, which is prevalent in developing economies by 2030 is no longer achievable, saying achieving that target may take another three decades.

“The global goal of ending extreme poverty – defined as $2.15 per person per day – by 2030 is out of reach: it could take three decades or more to eliminate poverty at this threshold, which is relevant primarily for low-income countries,” the report stated.

Almost 700 million people or 8.5 per cent of the global population live on less than $2.15 per day, while 7.3 per cent of the population is projected to be trapped in extreme poverty by 2030.

Extreme poverty remains concentrated in countries with historically low economic growth, many of which are in sub-Saharan Africa. About 44 per cent of the world’s population live on less than $6.85 per day, which is considered the poverty line for upper-middle-income countries.

Assessing the scenario, the World Bank Senior Managing Director, Axel van Trotsenburg, said: “After decades of progress, the world is experiencing serious setbacks in the fight against global poverty, a result of intersecting challenges that include slow economic growth, the pandemic, high debt, conflict and fragility, and climate shocks.”

Also, the Chief Economist of the World Bank Group and Senior Vice President for Development Economics, Indermit Gill, said low-income countries and emerging market economies should place a higher premium on sustained investments in education and health to provide higher poverty and prosperity-related payoffs than do tax-financed social assistance programmes.

In a related development, the October 2024 Fiscal Monitor of the International Monetary Fund (IMF) noted that large spending pressures, optimism bias of debt projections and sizable unidentified debt are pushing national debts into a figure that is not known.

While the global public is above $100 trillion, which represents about 93 per cent of global gross domestic product (GDP) by the end of this year, may exceed 100 per cent of GDP by 2030.

The figure is 10 percentage points of GDP above the pre-pandemic period before 2019. While the picture is not homogeneous – public debt is expected to stabilise or decline for two-thirds of countries, the October 2024 Fiscal Monitor of the IMF shows that future debt levels could be even higher than projected.

Taming global debt, therefore, requires larger fiscal adjustments than currently projected to stabilise or reduce it with a high probability.The report argued that countries, especially developing ones such as Nigeria, Ghana, South Africa and Bangladesh, should confront debt risks now with carefully designed fiscal policies that protect growth and vulnerable households, while taking advantage of the monetary policy easing cycle.

While acknowledging that weaker growth, tighter financing conditions, fiscal slippages and greater economic and policy uncertainty, the report noted that countries are increasingly vulnerable to global factors affecting their borrowing costs.

 

The Guardian

Nigeria's oil regulator has rejected Shell's proposed $1.3 billion sale of its onshore oilfields to Renaissance group because the buyer is not qualified to manage the assets, ThisDay newspaper reported on Wednesday.

Shell, which owns the assets via Shell Petroleum Development Company (SPDC), said it was providing the regulator with all the required information without directly confirming the newspaper report.

The regulator and Renaissance did not immediately respond to requests for comment.

Shell on Jan. 16 announced its exit from Nigeria's onshore and shallow water operations after agreeing to sell the business to a consortium of five, mostly local, companies, opting to focus future investments in the potentially more lucrative deep offshore fields.

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) declined to approve the sale on the grounds the Renaissance consortium could not show it could manage the assets.

The companies that make up the group have been unable to operate at least 50% of all existing assets under their control, ThisDay reported, citing unnamed persons familiar with the process.

According to the report, the NUPRC has communicated its decision to all the parties.

"Shell and the government are in ongoing communication as part of the approval process for the sale of SPDC. SPDC will continue to provide the regulator with all information needed to complete the approval process," a Shell spokesperson told Reuters.

Shell's exit from Nigeria's onshore operations is part of a broader retreat by the oil majors as they focus on newer, more profitable operations. Exxon Mobil, Italy's Eni and TotalEnergies have all struck deals to sell assets in the country in recent years.

 

Reuters

Page 1 of 446
October 18, 2024

7 reasons leadership soft skills are imperative for growth

Brent Gleeson In high-performance organizations, leaders often prioritize technical know-how and measurable metrics. But dismissing…
October 11, 2024

Atiku slams Tinubu over latest petrol price hike, calls president trending nickname

Former Vice President Atiku Abubakar, on Thursday, mocked President Bola Tinubu over the president’s handling…
October 17, 2024

Great leaders are inspirational. 4 ways you can be too

Tracy Brower If you’ve ever worked for an inspirational leader, you know what a big…
October 12, 2024

Woman becomes Police officer to catch father’s killer, arrests him 25 years after

A Brazilian woman who dedicated her life to catching her father‘s killer managed to finally…
October 18, 2024

Many weapons used to commit crimes against Nigerians stolen from govt armoury - NSA

The National Security Adviser (NSA), Nuhu Ribadu, has said that a sizable number of illicit…
October 18, 2024

Here’s the latest as Israel-Hamas war enters Day 378

Hezbollah says it will escalate war with Israel after Hamas leader killed Lebanon's Hezbollah militant…
October 16, 2024

The AI revolution: How Predictive, Prescriptive, and Generative AI are reshaping the world

Bernard Marr In the ever-evolving landscape of artificial intelligence, three powerful forces are reshaping our…
September 22, 2024

Dubois knocks down, knocks out Joshua to retain IBF heavyweight world title

In an astonishing upset, Daniel Dubois delivered a career-defining performance, defeating former two-time world heavyweight…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2024 NewsScroll. All rights reserved.