Benchmark index of the Nigerian Exchange Limited, All-Share Index rose by 0.55 per cent on Wednesday at 72,299.79 points, thus crossing the 72,000 basis points for the first time in history.

This was as trading activities on the NGX entered the fourth day of positive trading, which resulted in an N415bn gain for equity market investors.

On November 1, the ASI  crossed the 70,000 mark milestone to close at 70,581.76. This had followed days of sustained bullish trading. Thus far, the year-to-date gain of the ASI has risen above 40 per cent.

At the close of trading on Wednesday, market capitalisation rose by 0.55 per cent to close at N39.563tn; meaning N215bn was added to investors’ wealth.

Analysts have been projecting a Santa-Claus rally as the year comes to an end and a repositioning in sound stocks by investors ahead of the next earning season.

Market Breadth which is the measure of investors’ sentiments was positive, resulting in 34 gainers and 16 losers.

Transaction volume increased to 433.180 million from 319.56 million trades valued at N8.08bn from 6,650 deals executed. The number of stocks traded at the end of Wednesday’s trading session closed at 119.

Sectoral performance was a mixed bag, with two of the five tracked indexes ending in the green, two remaining relatively flat, and one posting losses. The Banking and Consumer goods indexes led the gainers, advancing by 0.94 per cent and 0.07 per cent, respectively. In contrast, the Insurance sector faced a decline, plummeting by 1.80 per cent, while the Oil & Gas and Industrial Goods indexes held steady compared to the previous session.

Atop the gainers chart were the stocks of SCOA, Infinity Trust Mortgage Bank, AccessCorp, Cornerstone Insurance and Transcorp Hotel which gained 9.88 per cent, 9.86 per cent, 8.09 per cent, 7.41 per cent and 6.83 per cent to close at N1.78, N2.34, N22.05, N1.45 and 46.90 per unit respectively.

The losers were led by University Press Plc, Sunu Assurance, Regency Alliance Insurance, Eterna and Flour Mills with -9.82 per cent, -9.38 per cent, -8.11 per cent, -8.03per cent, and 4.57 per cent loss each.

The volume and value drivers of the day’s market trend were led by banking stocks, AccessCorp, GTCO, Zenith Bank, United Bank for Africa, and Sterling Financial Holdings. NAHCO shares also made it to the top turnover table.

 

Punch

African e-commerce firm Jumia Technologies will close its food delivery business in all seven countries in which the unit operates by the end of the year to focus on growing its core online retail business, it said on Wednesday.

Jumia is aggressively cutting costs in order to turn profitable, including head count reductions, exiting everyday grocery items and reducing delivery services not related to its e-commerce business.

The move is in line with Jumia's "strategy to optimize its capital and resource allocation and to continue its path to profitability," the retailer said, adding that Jumia Food is not suitable to the current operating environment and macroeconomic conditions.

Jumia Food represents about 11% of Jumia's general merchandise value for the nine months ended Sept. 30, and has not been profitable since its inception.

"It's a segment that's very difficult across the world, with very challenging economics and big losses. It's also a segment that is extremely competitive across the world and Africa," Chief Executive Officer Francis Dufay told Reuters.

"The economics are tough in this market because the costs are very high and there is plenty of competition so there is downward pressure on the commissions that we make and upward pressure on marketing costs because everyone is fighting for customers."

Jumia currently operates its food delivery business in Nigeria, Kenya, Uganda, Morocco, Tunisia, Algeria and Ivory Coast

The first Africa-focused tech start-up to list on the New York Stock Exchange said a number of employees currently dedicated to the food delivery business will transition to the core e-commerce business in these countries.

Jumia has been trimming its losses, with the latest figures showing that it reduced its third-quarter losses by 67% from a year earlier.

 

Reuters

Federal executive council (FEC) has approved the removal of public tertiary institutions from the integrated payroll and personnel information system (IPPIS).

Mohammed Idris, minister of information, spoke to journalists on Wednesday at the end of the FEC meeting at the presidential villa.

Idris said the development means that members of staff of public universities, polytechnics, and colleges of education have been taken off IPPIS.

The minister said authorities of tertiary institutions will now be paying their personnel from their own end rather than relying on IPPIS.

“Today, the universities and other tertiary institutions have gotten a very big relief from the integrated payroll and personnel information system,” the minister said.

“You will recall that the university authorities and the others have been clamouring for the exemption of the universities and other tertiary institutions from this system.

“Today, the council has graciously approved that. What that means is that going forward, the universities and other tertiary institutions, the polytechnics, and colleges of education will be taken off the IPPIS.

“What that means in simple language is that the university authorities and other tertiary institutions will now be paying their own personnel from their own end instead of relying on the IPPIS.”

The federal government, in October 2006, introduced the IPPIS as one of its reform initiatives for the effective storage of personnel records, transparency, and accountability.

In 2020, there were 696 ministries, departments, and agencies (MDAS) on the IPPIS platform.

However, the Academic Staff Union of Universities (ASUU) kicked against the enrollment of public university lecturers on the software.

The academic union said it wanted University Transparency Accountability Solution (UTAS).

UTAS, the lecturers argued, accounts for the unique elements of university employment such as sabbatical leave, adjunct engagements, part-time engagements, and contractual obligations.

IPPIS has also been accused of being fraught with irregularities and discrepancies.

 

The Cable

Rivers State Government has attributed the demolition of the House of Assembly complex to structural defects arising from explosion and fire outbreak.

Joseph Johnson, the state’s commissioner for Information, said this in a statement on Wednesday in Port Harcourt.

Johnson said that the incident rendered the building unfit for human use, saying that there were visible cracks on the walls and the entire structure looked frail and unsafe for legislative business.

He said that professional advice was sought on the integrity of the building, after Governor Siminalayi Fubara’s inspection visit to determine the level of damage.

“After the assessment of the integrity of the complex, experts warned the government that continuing to use the building in its present state would be disastrous.

“The government had tried all cost-saving measures towards the repair of the complex until it bowed to the superior view of rebuilding the complex to a more befitting edifice.

“In the interim, the Rivers Government has provided an alternative venue for the House of Assembly to conduct its affairs pending the rebuilding of the complex,” Johnson said.

The assembly was attacked in October, after an attempt by some lawmakers to initiate impeachment proceedings against the governor.

The assembly crisis was triggered by the feud between Governor Fubara and his predecessor, Nyesom Wike, who is now the minister of the FCT.

Twenty-seven of the lawmakers loyal to Wike recently defected from the PDP to the APC while the five who are loyal to Governor Fubara got a court order which paved the way for them to control the state assembly.

Governor Fubara presented the state’s 2024 budget proposal to the four-member assembly which had their sitting in the Rivers Government House while the demolition of the assembly complex was going on.

 

PT

Three persons have been reportedly killed in Ikere-Ekiti, Ekiti State, following an armed robbery attack on two banks in the state on Wednesday.

The robbers were said to have attacked Access Bank and Wema Bank branches in the town.

The robbers reportedly used dynamites to blow up the security doors leading inside the banking halls to gain entry.

Details of the robbery were still sketchy as of the time of filing this report.

However, the robbers were said to have carted away an unspecified amount of money after operating for about 45 minutes.

A witness said the robbers attacked the Amotekun post in the town before heading to the banks.

He said a farmer was among those shot dead by the robbers.

“They first went to Amotekun post and attacked them, before heading to the bank,” the witness said.

“A farmer who lived nearby had just returned from his farm and was riding towards his house when the robbers shot him, thinking he was coming to attack them.”

According to the witness, the police cordoned off the banking areas because they believe some yet-to-explode dynamites dropped by the robbers were still at the banks’ premises.

Viral videos on social media showed the robbers shooting into the air while driving away.

Our correspondent contacted Sunday Abutu, the police spokesperson in the state, to confirm the incident but the calls were unanswered.

 

The Cable

9 Israeli soldiers killed in Gaza City ambush in sign that Hamas resistance is still strong

Palestinian militants carried out one of the deadliest single attacks on Israeli soldiers since the Gaza invasion began, killing at least nine in an urban ambush, the military said Wednesday, a sign of the stiff resistance Hamas still poses despite more than two months of devastating bombardment.

The ambush in a dense neighborhood came after repeated recent claims by the Israeli military that it had broken Hamas’ command structure in northern Gaza, encircled remaining pockets of fighters, killed thousands of militants and detained hundreds more.

The tenacious fighting underscores how far Israel appears to be from its aim of destroying Hamas — even after the military unleashed one of the 21st century’s most destructive onslaughts. Israel’s air and ground assault has killed more than 18,600 Palestinians, according to Gaza’s health officials. Gaza City and surrounding towns have been pounded to ruins. Nearly 1.9 million people have been driven from their homes.

The resulting humanitarian crisis has sparked international outrage. The United States has repeatedly called on Israel to take greater measures to spare civilians, even as it has blocked international calls for a cease-fire and rushed military aid to its close ally.

Israeli troops are still locked in heavy combat with Palestinian fighters in and around Gaza City, more than six weeks after invading Gaza’s north following the militants’ Oct. 7 attack.

Clashes raged overnight and into Wednesday in multiple areas, with especially heavy fighting in Shijaiyah, a dense neighborhood that was the scene of a major battle during the 2014 war between Israel and Hamas.

“It’s terrifying. We couldn’t sleep,” Mustafa Abu Taha, a Palestinian agricultural worker who lives in the neighborhood, said by phone. “The situation is getting worse, and we don’t have a safe place to go.”

The ambush took place Tuesday in Shijaiyah, where Israeli troops searching a cluster of buildings lost communication with four soldiers who had come under fire, the military said. When the other soldiers launched a rescue operation, they were ambushed with heavy gunfire and explosives.

Among the nine dead were Col. Itzhak Ben Basat, 44, the most senior officer to have been killed in the ground operation, and Lt. Col. Tomer Grinberg, a battalion commander.

Prime Minister Benjamin Netanyahu said it was a “very difficult day,” but he rejected international calls for a cease-fire.

“We are continuing until the end, there is no question. I say this even given the great pain and the international pressure. Nothing will stop us, we will continue until the end, until victory, nothing less,” he said in a talk with military commanders.

SUFFERING IN THE SOUTH

Heavy rainfall overnight swamped tent camps in Gaza’s south, where Israel has told people to seek refuge, even as that region has also come under daily bombardment.

In the central city of Deir al-Balah, the storm brought cold winds and flooded a shelter area behind a hospital, sending torrents of water coursing between the tents. “The situation is catastrophic,” said Ibrahim Arafat, a father of 13 who fled Shijaiyah.

Because of the fighting and Israel’s blockade of Gaza, the health care system and humanitarian aid operations have collapsed in large parts of the territory, and aid workers have warned of starvation and the spread of disease among displaced people.

Israel invaded southern Gaza nearly two weeks ago, and heavy fighting has continued in its first target — the city of Khan Younis. Israeli strikes overnight hit two residential buildings in and around the city, and the dead included three children, two women and an elderly man, according to relatives and hospital records.

A strike Wednesday evening in the southern city of Rafah killed 19 people from two families, according to hospital records.

The Israeli military rarely comments on individual strikes. Israel says it tries to avoid harming civilians and blames the high toll on Hamas because it conceals fighters, tunnels and weapons in residential areas.

DISTANT WAR AIMS

Anger over the war’s toll appears to have brought a surge in support among Palestinians for Hamas, which has ruled Gaza since 2007 and touts itself as resisting Israeli occupation.

A poll conducted by the Palestinian Center for Policy and Survey Research found 44% of respondents in the occupied West Bank said they supported Hamas, up from just 12% in September. In Gaza, the militants enjoyed 42% support, up from 38% three months ago.

Though Hamas’ backing remains a minority, the poll showed overwhelming rejection of Western-backed Palestinian President Mahmoud Abbas, with nearly 90% saying he must resign. Many Palestinians view the octogenarian leader’s administration as corrupt, autocratic and ineffective.

The findings signal more difficulties ahead for the American administration’s postwar vision for Gaza and raise questions about Israel’s stated goal of ending Hamas’ military and governing capabilities.

The U.S. wants Abbas’ internationally recognized Palestinian Authority, which administers parts of the West Bank, to also govern Gaza, which Hamas seized from it in 2007. It also wants to revive the long-defunct peace process to negotiate the creation of a Palestinian state. Netanyahu’s government is firmly opposed to Palestinian statehood.

Late Wednesday, Hamas’ supreme leader, Ismail Haniyeh said any plans for Gaza that do not involve Hamas are an “illusion and mirage,” though he said the group is open to halting the fighting. Speaking to Al-Masira TV, a channel linked to Yemen’s Houthi militant group, he claimed Hamas had dealt a “resounding blow” to Israel. Haniyeh lives in exile in Qatar, but it was not clear where he was when he made those comments.

U.S. President Joe Biden said Tuesday he told Netanyahu that Israel was losing international support because of its “indiscriminate bombing.”

“Israel doesn’t seem to be anywhere near achieving its military objective,” Mairav Zonszein, a senior Israel analyst with the International Crisis Group, wrote on X, pointing to Tuesday’s deadly ambush.

“With Biden already signaling loss of patience, with no signs of a hostage release and Israel’s economy overstretched, and with a humanitarian crisis of epic proportions in Gaza, Israel could find itself in a much worse position the day after, with a lot of losses and no win,” she wrote.

While the Israeli public appears to overwhelmingly support the war against Hamas, that sentiment could change if the death toll among Israeli soldiers continues to rise.

Deaths of soldiers are an emotional topic in Israel, a small country of 9 million people where military service is compulsory for most Jews. Virtually every family knows a relative, friend or co-worker who has lost a family member in war. The names of fallen soldiers are announced at the top of national newscasts.

In Israel, attention is still focused on the atrocities carried out on Oct. 7, when some 1,200 people were killed, mostly civilians, and some 240 people were taken hostage, around half of whom remain in captivity. The military says 115 soldiers have been killed in the ground offensive.

There has been little media coverage or public discussion of the plight of civilians in Gaza, even as international outrage has mounted.

Despite U.S. calls to reduce civilian casualties, the toll has continued to mount at a dizzying rate.

When it released the latest Gaza death toll of 18,600, the Gaza Health Ministry did not specify the number of women and minors, but they have consistently made up around two-thirds of the dead. The toll is likely higher because thousands are believed buried under rubble. The ministry’s count does not differentiate between civilians and combatants.

 

AP

RUSSIAN PERSPECTIVE

Ukraine was never going to win – US senator

Ukraine always faced the prospect of losing the conflict with Russia in the event that Washington cut off its aid, US Republican Senator Tommy Tuberville has said. 

His comments came after the US Senate last week blocked a bill by President Joe Biden that was intended to allocate a further $60 billion in funding to Kiev, on top of the $110 billion already spent. Republicans opposed to the package have demanded tougher immigration control on the US-Mexico border in exchange for approving the bill, rejected by the White House. 

Speaking to CNN on Tuesday, Tuberville was asked whether cutting off funding to Kiev could result in Ukraine being defeated. The senator replied that he personally “never thought they can win to begin with,” especially with the way the US “eased into” the conflict. 

Tuberville also dismissed claims by Kiev’s backers that Russia will advance elsewhere into western Europe once it defeats Ukraine’s forces. The Republican argued that Moscow “can’t beat Ukraine on the eastern side,”and questioned how it was expected to push further across Europe.  

“I’ve never believed that scenario. I think it’s a good selling point to send more money,” Tuberville suggested. 

The US has so far provided Ukraine with an estimated $111 billion in military and economic assistance since the outbreak of its conflict with Russia in February 2022. While Washington has increasingly warned that funds are beginning to run out, Ukrainian President Vladimir Zelensky has nevertheless continued to insist on receiving more money. 

The Ukrainian leader traveled to Washington on Tuesday to hold a series of meetings with top US officials, in an attempt to save Biden’s $60 billion aid package. However, Zelensky appears to have failed to convince key Republicans to change their mind about opposing the bill. Instead, some senators left the meeting while describing it as “the same old stuff” and “very scripted.”  

Biden has continued to urge Congress to approve the funding package and has also pledged an additional $200 million in emergency military aid for Kiev through the Presidential Drawdown Authority, which allows him to send weapons from US stocks without congressional approval. 

Meanwhile, Moscow has brushed off Zelensky’s latest visit to Washington as inconsequential for the outcome of the conflict. Russia’s ambassador to the US, Anatoly Antonov, claimed that “everyone is tired of the Kievan beggarman.” Kremlin spokesperson Dmitry Peskov has also stressed that no amount of money would change the situation on the front lines.

** Ukrainian general reveals discord among frontline troops

Ukrainian frontline troops are disgruntled with the way Kiev is handling the ongoing conflict with Russia, including the gaslighting it engages in via the national media, retired Gen. Sergey Krivonos warned on Monday. Soldiers wonder why they must shed blood on behalf of an uncaring government, he claimed.

Krivonos is a critic of President Vladimir Zelensky, who sacked him from the National Security and Defense Council in late 2020 for allegedly not being a team player. The commander, who has since left the military, allegedly under pressure, blasted what he perceives to be a disconnect between the government and the military. He was interviewed by Priamyi, a TV channel that currently broadcasts only online that is historically associated with the country’s former president Pyotr Poroshenko.

The general said Kiev was “teasing the tiger” with its treatment of troops, who, he warned “may act quite harshly” in response.

“There are not cemeteries, but entire burial fields. People on the frontline take such things to heart and they do not accept shades of gray. For them, there is either black or white,” he said.

The Russian Defense Ministry has estimated Ukrainian losses between June and November at over 125,000 troops. Kiev does not report its casualties, but Western media say that they must be steep, judging by the rapidly expanding graveyards and other circumstantial evidence.

Kiev is running out of career military and is struggling to conscript soldiers, since civilians “are less than eager to fight for a military and national government that is viewed as rife with corruption and incompetence,” the Washington Post reported last week. 

Krivonos cited a recent announcement by the Ukrainian state-owned railway operator that seasonal trains would be on offer for people visiting ski resorts as an example of what irritates troops. He believes the country needs to go into total war mode and accused Zelensky of failing to do so due to fear of losing popularity.

The Zelensky government has contributed to the problem by using the state-controlled “television marathon” – the only programming on the air – to gaslight the public, the general said. He called the content “one of the worst manipulations” of the Ukrainian people.

Another problem is tolerance of graft, he alleged. People who empty their pockets buying overpriced eggs should not get farewell applause from MPs and disappear into the night, he said in a clear nod to Aleksey Reznikov. The former defense minister was sacked in September, months after a scandal erupted over the procurement of overpriced food for troops by his department.

‘Reznikov’s eggs’ reports became the subject of gallows humor in Ukrainian trenches.

 

WESTERN PERSPECTIVE

Ukraine says 53, including 6 children, hurt in Russian missile strikes on Kyiv

Russia's second missile assault on Kyiv this week injured at least 53 people, damaging homes and a children's hospital, Ukrainian officials said on Wednesday, as President Volodymyr Zelenskiy pleaded for more help for his country.

The windows of residential apartment blocks were blown out and frightened residents streamed out onto the street to assess the damage. Missile debris blew a large crater in the ground and destroyed parked cars.

Ukraine's air defence systems downed all 10 ballistic missiles that targeted the capital at about 3 a.m. (0100 GMT), Ukraine's Air Force said on the Telegram app.

"Just yesterday, (U.S.) President (Joe) Biden and I agreed to work on increasing the number of air defence systems in Ukraine. The terrorist state demonstrated how important this decision is," Zelenskiy wrote on Telegram, referring to Russia.

Falling debris caused injuries and destruction in four of Kyiv's districts along the Dnipro River, which cuts through the capital, officials said. Thirty-five buildings were damaged, according to the city's military administration.

Ukraine's national police said 53 people, including six children, had been injured by the attack. Eighteen people have been hospitalised, it said in a social media post.

"There was no air raid siren. At around 4 a.m. (0200 GMT), I heard an explosion. We fled to the corridor, (the explosion wave) threw me into the doors," Olena Ustinova, 45, a local administration clerk, told Reuters.

"I regained consciousness and started to shake the doors but they were blocked. I shouted for help from my balcony and emergency workers came to help me."

Ukraine's Armed Forces General Staff identified the projectiles as Iskander-M ballistic missiles, as well as S-400s: extremely fast missiles intended for air defence, but which have also been used to hit ground targets.

AIR DEFENCES

Zelenskiy, who was visiting Norway on Wednesday, said his main priority was to strengthen air defences.

His chief of staff, Andriy Yermak, praised Western-supplied air defence systems and their operators after Ukraine downed all 10. "The effectiveness of Western weapons in the hands of Ukrainian soldiers cannot be doubted," Yermak said.

The Air Force said it also shot down all 10 Russian-launched attack drones over the Odesa region in southern Ukraine.

Windows and entrances at a children's hospital in Kyiv's Dniprovskyi district were shattered by debris, but based on initial assessments, there were no casualties, Mayor Vitali Klitschko said.

"These (ballistic) missiles fly at a speed up to 8,000 km per hour," Klitschko told Reuters while visiting a site near one of the damaged buildings.

Kyiv military administration chief Serhiy Popko said 17 people, including seven children, were evacuated from a residential building in the Dniprovskyi district after debris hit a building and nearby cars, causing a fire.

The attack followed a salvo of ballistic missiles that targeted Kyiv on Monday and injured four people.

There was no comment from Russia about Wednesday's attack, which also damaged buildings in Kyiv's Desnyanskyi, Darnitskyi and Holosiivskyi districts.

Both Moscow and Kyiv deny targeting civilians in the nearly 22-month-long war that Russia launched against its neighbour in February 2022.

 

RT/Reuters

I take a bet. The judgement of God and of the people is nigh! Check your neighbourhood. For weeks, and in some cases, months, there is no electricity. But in your houses, you run your generator. Neighbours come around to charge their phones, rechargeable lamps and what have you in your compound. How do you tell them that you are not part of the oppressors? What about water? As early as 5 am, neighbours are already on the queue in front of your house to fetch water. They don't have the boldness to knock on your gate to wake you up. They know that they are at your mercy, and so, they wait until you wake up to turn on the tap for them. Many of these people grew up with functional water corporations and dams in their towns and villages. We are already in the festive period. How many Nigerians have what to eat during this season? How many can afford a bag of rice? How many will be able to buy clothes for their children and wards? How many are already calculating the school fees for the second term which begins by the first week of January 2024? When you consider these, you will realise that there is no time to postpone fixing Nigeria. The elite just have to fix Nigeria now or Nigerians will fix them, and permanently too. The masses are like the sheep. Those are the most gentle of all animals. But they have the most poisonous teeth ever! You can read me again. Sheep have teeth. Just pray they don't bite you with them. There is no anti-rabies vaccine that can cure that.

Kashim Shettima, the vice president, is a brilliant man. As a politician, he may not be a good man. No Nigerian politician of this inglorious era is good. I make no bones about that. I saw Shettima a couple of times on television during the 2023 campaigns. I enjoyed his dramas when he served as the Director General of the Tinubu Campaign Organisation during the All Progressive Congress (APC), presidential primaries. He was blunt and assertive. He appeared then to know what he wanted, or what he was briefed to do.  In the delivery of his mandate then, he did not spare anyone. He took no prisoners. He insulted as many as he could. He befriended those he considered useful to the project at hand. He was acerbic in his dealing with the then Vice President, Yemi Osinbajo. Fortune smiled on Shettima at the end of the primaries. His principal, Tinubu, picked him as his running mate. The duo went ahead to win the general election. Today, Shettima occupies the office he once said was only good for selling ice cream and popcorn! Unfortunately, since May 29, 2023, Shettima and the government he serves as the vice president have been serving Nigerians more than ice cream and popcorn. The government of his principal serves Nigerians pains and agony. He is aware of this and the inherent danger. He spoke about it not too long ago.

In his recent outing in Abuja last Saturday, Shettima sounded more of a populist than a realist.  He spoke at the graduation ceremony of the Executive Intelligence Management Course 16 participants from different security agencies and nominees of state governments.  His submission was that with the present high cost of living, Nigerians “are angry with government officials.” If he expected us to clap for him for saying that, I can tell him for free that he is damned wrong! Absolutely WRONG! The vice-president talked about the parlous condition of the common man in Nigeria of today. He said that the ruling elite had between 10 to 20 years to do something, otherwise, something will give. Here are his exact words:” … But now, as we cruise around in our bulletproof cars, one will see contempt in the eyes of the poor. We have to improve the quality of governance. And what we have is a tiny window of not more than 10 to 20 years. Let’s improve the quality of governance.” He is, again, wrong! With the situation of things in Nigeria, the bomb can go off any moment. Call me an alarmist; the time ticks precariously. Shettima and his gang don't have five years, not even two years. The time to make corrections and bring back life to the people is now.

The locusts that had before now eaten up of our vegetation had been buying time. The current generation of vampires in power thinks it can buy more time. There is no more time. Things are bad. No! Things are at their worst ebb. The middle class is eliminated, completely. What we have now are two contrasting stratifications of the super-rich, and super- poor. Poverty is shared in equal proportions. Those who have no reasons to beg are now corporate beggars. We are all engaged in 'fine bara'. I am not exempted. The other time, my laptop collapsed beyond repair. I couldn't raise the money for a new one. Who did I turn to? My 65-years plus first cousin! I struggled to call him. I felt ashamed calling a 65-year-old man to come to my rescue, when he is supposed to be resting. But I thank God he did what I asked for without hesitation. He must have known that I was at the end of my tether to have called him in far way UK for a laptop. Truth be told; I was at my breaking point before I made that call. I ask this: how many people have cousins or relations who would respond promptly to that type of Macedonia call? How many of such requests can I respond to if occasions demand? This is not because one is wicked or selfish. The means are not just there. Many relationships have broken because of this. We ignore calls we would hitherto have picked with enthusiasm. This is our situation, Shettima. This is the level crass misgovernance has pushed us to. I don’t see the projected 10 to 20 years of redemption as realistic. The time to do it is now!

Why am I so worried about the present situation? Something happened to me last weekend. I was in Ekiti State last weekend. From Ado Ekiti to Odo Oro through Ijesa Usu Ekiti, I saw poverty in its naked form. Driving around the neighbouring Ikole Ekiti axis, at a spot, a big female goat ran across the road, and I slammed the break. The resultant dust from the dusty road attracted curses from the people around. "Rírá lu à rá nú" (may you be lost forever), they pronounced. I recognised two of the people. I parked the car, turned off the engine, and alighted. One of them, who felt that I was coming to challenge them said something in our Ekiti dialect: "Hìn jé ha bò; erun rè à kan (let him come, his mouth will go sour). I approached them. They recognised me. The most elderly of them said: "Hùwo hà hin, Suyi (So it is you, Suyi). We exchanged greetings, and apologised for the dust.

The most aggressive one among them said something similar to what Shettima alluded to. While apologising for the curse, he added: "Hà rò wípé òkàn núnú hìhan olórí burúkú hàn nì ni (We thought it is one of those bad heads). That is the level of aggression in the land. Hunger is already mixing with anger. My screeching of the brake attracted curses and aggression from people, who before now would have shown sympathy and thanked God on my behalf for not damaging the car. As I left them, I kept wondering what had happened. They knew the goat ran to the road. They knew I avoided killing it by applying the brakes; yet, they still cursed me. Now, ask what would have happened if I were not someone they are familiar with. Or, I was to be a top government official, the type the people had already labelled hìhan olórí burúkú (bad heads). If we continue like this, the bullet-proof cars will not be enough. I deliberately employed the plural pronoun, "we", because whether we like it or not, we shall all be victims of the people's reaction. It does not matter whether one had been in government before or not. As long as you drive a nice car, put on fine cloth, and you look ‘fresh’; you belong to the ruling elite in the estimation of the poor.

Someone foresaw our situation long ago. He equally forewarned us of the looming danger hanging over us all. His name is Obafemi Awolowo. Before he joined the sages on May 9, 1987, he granted an interview on a wide range of issues. Moses Akin Makinde captured some of the things the Avatar, Awolowo, said in that interview in a book: “AWO: The Last Conversation” (2009). The philosopher-politician talked about the attitude of the northern elite to the poverty over there and warned thus: “But I think that sooner than later, the leaders of the north will see the repercussions of their selfishness and carelessness in their attitude towards western education. But the time will be too late, and if they don’t regret it or blame themselves for lack of foresight, the northern youth may ask their leaders some questions when they see the rate of development that goes with education in many parts of southern Nigeria. They may then wonder whether it was in their stars or in the selfishness, carelessness and lack of foresight of their past and present leaders.” If the dead do see the living, Awolowo would have seen that it is not only the northern youths that are asking questions now. All Nigerians do. The questions are too dangerous. The question, ‘how did we get here’? is not asked with joy and happiness. The western education Awolowo donated to the south, particularly the Western Region in the early 50s is now a waste today. Or, what do you make of a child with two post-graduate degrees that has remained jobless for over five years? How useful is that education? What has happened to all the cottage industries established by the founding fathers of the nation? Who wasted them?

Awolowo, in that same interview, talked about the qualities of his ministers and advisers. He said he chose them “strictly on merit and because of their education, standard and discipline.” He added: "Every minister or adviser and top civil servant had to do his homework properly before bringing anything to a cabinet meeting or any other important meeting where it will be subjected to rigorous debate. Where there are grey areas, expert opinion would be sought for the purpose of objectivity…It is because of this service to the public that I often maintained that the office of the President, or Prime Minister is not for pleasure. Unfortunately, in Nigeria, it looks as if the office of the President, Minister or Adviser is for pleasure, like dining and wining and carousing with women of easy virtue both at home and abroad.” Sad! If I should trouble the sage in his rest, may I announce to him that in the Nigeria of today, ministers pay to be given ‘juicy’ portfolios; that members of the National Assembly now rise to sing solidarity songs whenever the president comes calling. May I inform the legend that in the Nigeria he left behind, some felons killed our darling Deborah Samuel on May 12, 2022, at her Shehu Shagari College of Education, Sokoto, and they got away with it. But Rhoda Jatau, who condemned the killing, was arrested on May 20, 2022, and spent 18 months in prison custody in Bauchi before she was finally released on bail! And she would still have her days in court for alleged blasphemy, incitement and cyber-stalking.

From Sokoto to Ibadan, Kafanchan to Eduabon; from Okigwe to Jalingo, and from Makurdi to Ode Irele, poverty walks on all fours. On the faces of the people are frustration, anguish and anger. Shettima saw this in his Maiduguri. He once had the opportunity to change the narrative and improve on the lots of the people. He was a governor for eight years. Under his watch, over 280 school children were kidnapped in Chibok. His reaction was to reward the principal of the school with an appointment as a commissioner! Now, in the year 2023, the same man, as the number two citizen in Nigeria, is asking for a moratorium of 10 to 20 years to “improve the quality of governance”. No sir, Mr. Vice President. Do it now for the time ticks!

 

Nigerian Tribune

We all want to be able to do more in less time because, in an ideal world, it would mean that we will have more time to do everything else we want to do. However as we manage to fast-track our productivity, we aren't left with more time to ourselves but just more time to do more work.

The result of high productivity is often highly burnt-out staff. But as Apple is working to prove, it doesn't have to. Perhaps what we need isn't another productivity hack that helps us cross an extra item off our ever-growing to-do list. Instead, maybe we need a break.

Apple recently rolled out a simple strategy to beat burnout after years of operating in overdrive and finding that burnt-out staff lack the focus, energy and inspiration necessary to innovate and excel.

Apple's decision to shift gears is because working in high gear, day after day is not a long-term productivity hack but a way to hack away at your staff's happiness, creativity and ingenuity. 

What the company is finding is that the key to productivity is not solely about getting staff to do more, but doing more with the time that they have as a means of buying them more time to themselves. In return, staff have more mental bandwidth, work satisfaction and more life in their work-life balance. 

Apple is achieving this goal by using the 'Rule of 3 S's' which is a simple three-step system to increase long-term productivity: Streamline, systematise and step back. 

1. Streamline 

So much time is wasted on tasks that either weren't part of the deliverable or are simply someone else's job. Either way, superfluous tasks eat up a lot of time and energy. 

This commonly occurs when staff are tasked with projects that do not have clear expectations or deliverables. The manager might assume that the employee knows exactly what they want, but if you're not communicating the exact deliverables and your employee is not a mind reader, you'll be hard-pressed to receive precisely what you wanted. 

Part of this is that it is not usually that an employee has no idea what they're supposed to do, but not enough of an idea of just how much they're supposed to do. And so to avoid looking like they're submitting an incomplete project, they often do far more than necessary. 

2. Systematize 

Businesses need to not only zero in on the work that needs to be done, but zero in on who needs to be involved in it and when. 

When teams aren't very well-oiled, people often end up doing all the work themselves when there are others whose job it is to do that particular task. After all, it can feel easier to do it yourself than delegate. But this isn't an efficient strategy in the long run, nor is it the most cost-effective. 

Part of this is that productivity is often stalled and efficiency is obliterated when there are too many hands in the pot – and too many touch-points. For example, this is often the overbearing boss who just has to micro-manage and inherently slows teams down (while stressing them out) in the process. 

3. Step Back 

When the work is done, staff are done with their work and given more to do. And there are two benefits of this. First and foremost, it helps prevent burnout. Instead of punishing highly productive staff with more work, it rewards a job well done with more time to themselves. 

Second, it gives staff the ability to disconnect from their work, which tends to help staff more effectively solve problems, innovate and create.

The reason is that when we take a step back we can see the bigger picture that we often can't see when we are entrenched in the depths of a project or problem, according to Psychology Today. 

Together these three simple steps help increase productivity effectively to prevent burnout and give staff more time in their day is as powerful for employers as it is for employees.

While I might be tired of the endless productivity hacks that have left me tired, this is one I can get behind that will help keep me and my team ahead. 

 

Inc

Nigeria recorded 127 crude oil theft incidents between December 2 and 8. This is according to data shared in a report by the Nigerian National Petroleum Company Limited (NNPCL) via its Twitter (X) account on Tuesday, December 12.  

During the reported week, NNPCL and its security partners discovered several incidents: 

• 51 illegal refineries were uncovered. 
• 29 illegal connections were identified. 
• 8 vessels were found to have AIS (Automatic Identification System) infractions. 
• 6 acts of pipeline vandalism were detected. 
• 5 illegal storage sites were located. 
• 13 arrests were made involving wooden boats. 
• 3 oil spills were reported. 
• 11 vehicle arrests were made, along with 1 vessel arrest. 

The sources of these incidents were attributed as follows: 

• Pipeline International Nigeria Limited was linked to 31 incidents. 
• Maton Nigeria Limited was associated with 30 incidents. 
• Tantita Security Services Limited reported 15 incidents. 
• Shell Petroleum Development Company reported 12 incidents. 
• NNPCL Command and Control Center reported 8 incidents. 
• Government Security Agencies reported 31 incidents. 

These crude oil theft incidents occurred across various locations in Bayelsa, Rivers, Delta, Abia, and Imo states. The report highlights identities of some of the thieves apprehended during the week. Three thieves were arrested in Isoko South, while three others remain at large. 

Two of the arrested individuals were named: Benard Innocent from Isoko South in Delta state, and Adam Akpobome Godstime, a resident of Owodokpokpo in Delta state. The report mentioned that arms, ammunition, and charms were found at the locations where these theft incidents occurred. Those arrested in Isoko South were allegedly responsible for crude oil theft activities in Uzere and Owodokpokpo in Delta state. 

In total, five crude oil theft suspects were arrested during the highlighted week. The incidents occurred in various regions: 9 in the Deep Blue Water, 23 in the Western region, 45 in the Central region, and 50 in the Eastern region of the Niger Delta’s oil-producing areas. 

Additionally, the report highlighted an incident where Tantita Security Services Limited intercepted a vessel stealing crude oil from a wellhead offshore in Ondo State. There was resistance encountered during the interception. The vessel, currently held by the Nigerian Navy, was reported to have engaged in suspicious activities in Ghana on November 29, 2023, and four times in Nigeria between August and October 2023. 

The vessel sails under a Nigerian flag, registered under Regan Navigation Limited since March 2022, with Randling Marine identified as the beneficial owner since May 2023. It was previously flagged on November 11, 2023, due to multiple identity changes and suspicious activities resembling tankers used in unauthorized crude oil activities. 

 

Nairametrics