Power generation and distribution companies owe Nigerian banks N836.09bn amid the problems plaguing the sector since it was privatised over eight years ago. This is according to the Central Bank of Nigeria’s June 2022 data obtained by The Punch. While power generation firms and independent power producers owed banks N562.19bn, power transmission and distribution firms were indebted to the tune of N273.89bn. In November 2013, the nation’s distribution and generation companies were privatised through the Bureau of Public Enterprises, fetching about $3.2bn for the Federal Government. The Discos and Gencos were sold for $1.7bn and $1.5bn respectively. The Federal Government…

When AACo hired me as an advisor, they had a big problem to solve: No one in the US had interest in their product, Australian Wagyu beef, even though they were the world's largest producer of the delicacy and had won some very prestigious global competitions with it. That unfamiliarity caused steak-lovers in the US to stick to the much better-known USDA Prime and Japanese Wagyu, to the detriment of AACo's sales. The company's specific challenge reflects a critical obstacle any innovator faces when introducing their product or idea: Inertia, wherein people habitually favor what they know at the expense…

The UK government says it will remove tariffs from up to 99 percent of goods imported from Africa and other developing countries. In a statement on Tuesday, the British High Commission in Nigeria said the tariff cut is captured under the UK’s developing countries trading scheme (DCTS). It said the DCTS will help UK businesses access hundreds of products from Nigeria and around the globe at lower prices, thereby reducing costs for UK consumers. It added that the scheme will boost trade with 65 developing countries, support jobs and growth in the UK and abroad, and reinforce the country’s economic…

Warren Buffett is no stranger to fear. In fact, he was once terribly afraid of public speaking. That is until he took a Dale Carnegie course to improve this critical business skill. Since overcoming his fear of speaking, he's become one of the most frequently quoted speakers in the world. Now Buffett gives his followers a priceless lesson on courage, stated in four powerful words: face down your fears. Buffett advises young and old to not allow fear to limit them from accomplishing the things they need to do to become successful. And yet, fear paralyzes so many for different…