“Arsenal fans are currently over the moon, testosterone pumping – and why not? The story will not change in 2024… the odds are not in Arsenal’s favour… My forecast is that despite setting his ducks in a row, (Godwin)Obaseki’s candidate would lose in September. His biggest undoing would be the large army of political enemies he has created in the last eight years – some inevitably from the reforms he introduced, but others, and in a far larger number, avoidably from his mean-spirited, opportunistic politics.”

- What You Might Expect in 2024, December 29, 2023

This is the fifth in my series of annual forecasts. For a part-time Nostradamus, my record has been above average. The forecasts usually come earlier, in the last week of December. Yet, the potency of this edition is not diminished by the delay.

I made a particularly catastrophic forecast for last year, which has left a puree of tomatoes on my face and those of a significant segment of the liberal press in the US, led by CNN: that President Joe Biden would defeat Donald Trump. That didn’t happen—not because Biden didn’t beat Trump, but because Biden was not in the race.

There were a few other misses, but on the whole, whether it was about Arsenal, the value of the exchange rate by year-end, or when Dangote and the public refineries would start production, I was bang on the money.

A word for ministers

Let me start with some unsolicited advice for politicians, especially President Bola Tinubu’s ministers. Their biggest mistake this year would be to take the President’s statement during the December media chat that he won’t replace them at face value.

He said he wouldn’t replace them, not that he would keep them at any cost. I forecast that by May 29 or earlier, the president will replace ministers, especially those who have since outlived their IOU value. As pressure mounts ahead of the pre-election year, no fewer than five of them will be replaced or reassigned by the end of 2025.

Fighting Tinubu

It's 2025, but it feels like 2027. It has been this way since the end of last year. Leading politicians from the North, notably former Jigawa State Governor Sule Lamido, spent much of 2024 regretting that the region supported Tinubu and swooning over how to stop his reelection. The schemes will reach a fever pitch this year as the government presses ahead with the Tax Reform Bills,which are perceived as anti-North.

The tax bills won’t be the only thing over which Northern politicians would raise a battle cry, even though it’s unlikely that they will stop the passage of a watered-down version.

When the government’s deadline against keeping dollars outside the banking system expires in July, those saving the greenback for the next election will cry foul and demand an extension, if not an outright rejection of the policy. They will argue that 1) the government has no right to tell them what to do with their money and 2) it targets Northerners, who are dominant operators in Bureaus de Change.

In the same way, the census, as planned, is unlikely to be held this year. Some states, especially those in the opposition, would declare it an ingenious attempt at gerrymandering ahead of 2027. If the federal government goes ahead, they might repeat what happened in Lagos in 2006, when Tinubu was governor: mount a legal challenge, failing which the states would conduct their separate “census” and declare their figures valid.

Opposition in disarray

Yet, this is the year of the ultimate scramble for presidential favours, especially among politicians who can’t afford to wait for another four years in the cold. They’ve been joining the ruling All Progressives Congress (APC) in trickles. As the shambles of the People’s Democratic Party (PDP) becomes a ruinous heapand the Labour Party produces more heat than fire, more and more will flock to the APC.

Former Vice President Atiku Abubakar will remain the PDP's albatross despite his efforts to act as its best card. Those hoping for an opposition coalition to challenge the APC in 2027 will be disappointed. The likely arrowheads of such a coalition—Atiku, NNPP’s Rabiu Kwankwaso, Labour Party’s Peter Obi, and political strategist-in-a-limbo Nasir El-Rufai—would be unable to find a common ground.

Ambition, ego, and a perennial distrust of one anotherwill ruin these strange bedfellows. Whatever is left of their political remains will be buried by their heartbroken followers. The new exiting class of second-term governors, likely from the South West and the North East,with money, ambition and a desire for fresh conquests,particularly Seyi Makinde and Bala Mohammed, will overplay their reach.

Twice lucky

Governor Charles Soludo will likely be returned for a second term in November despite snippers from his party, APGA, and outside.

Where’s the money?

On the national stage, I worry about the economy. My advice is to view government officials' rose-tinted forecasts with caution. The coming onstream of the Dangote Refinery, especially, and the partial production from the Port Harcourt Refinery helped ease pressure on foreign exchange demand, mainly because crude was purchased in naira. It would be interesting to see how this naira-for-crude arrangement will hold, especially as Dangote Refinery expands its markets outside Nigeria.

Prices would likely be more stable, with marginal improvements in the macroeconomic outlook. However, with the relatively high debt level, more borrowing crowding out private sector credit, and 2,604 uncompleted projects inherited from previous governments, it will be hard to find cash.

Feeding the cash cow

Revenue will continue to be a problem for at least two reasons: First, the government’s main cash cow, crude oil earnings, is unlikely to reach the anticipated 2m bpd, and the benchmark oil price of $75 pb might prove overambitious.

Multiple sources told me that current production levels are around 1.4-1.5m bpd, discounting for condensate. However, unless the government radically restructures the NNPCL, the weak and heavily politicised structure will underperform.

Shell’s $5 billion investment in Bonga is good news but will not crystalise until 2028/29. There are no new investments in the country’s mineral mining leases that NNPCL incompetently manages to inspire confidence or significantly relieve the current budget cycle.

Second, the government’s effort to improve farm output and moderate food inflation—currently the most severe threat to social security—is still in its early stages. Food inflation will remain relatively high this year, likely around the five-year average of 35 percent. Retooling the value chain to deliver results beyond the current subsistence levels will require radical steps for at least another cycle to bear fruit.

Managing discontent

To stave off social discontent from hardship, governments at all levels must invest more in the weak and vulnerable, especially the growing army of urban youths who will drift more into cybercrimes in significant numbers this year. As for security, the final piece of the puzzle for establishing the state police will likely be completed this year, leaving only the paperwork for its implementation.

Between Arsenal and Trump

Is this finally the year broken Red Hearts will mend, the Year of Arsenal? It would be easier for Trump to take Canada as the 51st State of the US than for Arsenal to win the Premier League in May. If the club is exactly where it was this time last year (40 points after 20 games), the odds are that it will end up where it did in 2024: nearly there. The crown in 2025 is Liverpool’s to lose.

Trump 2.0’s pledge to execute the most extensive mass deportation in US history, just like his dubious promise in his first term to build a wall at Mexico’s expense, will be mired in litigation, logistics, and obstacles by some states and other institutions. It will hardly take off. However, he would have much greater leeway with his protectionist trade policies, potentially sparking retaliation from major US trading partners.

The great thing about Trump is that he won despite evidence that he would be the most unguarded US president in recent history. Nothing he does will surprise.

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

It’s a world of endless parties and sleepless nights. A relentless celebration that turns West Africa – and especially Nigeria’s largest city, Lagos – into one of the hottest destinations on the continent, if not the planet, right in the middle of winter.

Detty December is a magical time between December and early January when diaspora communities and tourists flock to Ghana, Nigeria and South Africa for an unforgettable experience filled with flavourful food, soulful African music and sunshine.

Beach parties, festivals and top-tier performances fuel the energy, while fashion takes center stage, with everyone dressing to impress.

Nearly two-thirds of Nigeria’s population is under 25, according to the United Nations Population Fund, making this one of the world’s youngest countries.

Internationally renowned Afrobeats performers and foreign artists make surprise appearances. DJs take to the streets, blasting powerful beats from consoles mounted atop bright yellow minibuses.

At times it’s all-consuming. Good luck getting hair salon appointments, affordable air tickets or navigating Lagos’ already notorious traffic when the party crowds are in town.

Detty December (“detty” is a playful corruption of “dirty”) is a triumphant celebration of culture, music and good vibes that has evolved in recent years during the traditional holidays influx of diaspora returnees, which heightened in 2018 when Ghana ran a launched a successful “Year of Return” campaign actively encouraging people to visit their ancestral homelands.

It’s gathered pace over the past five years, gaining an international reputation, as IJGBs (“I Just Got Backs”) and their friends arrive in batches, eager to unwind and blow off steam after the fast-paced, hard-working year they’ve had overseas.

For many in the vast Nigerian diaspora, it is a deeply personal homecoming, a chance to reconnect with their heritage, traditions and families while immersing themselves in the lively energy of Nigerian life.

‘Everyone is on a vibe of happiness’

Cynthia Eniola Oyeneyin, who moved from Nigeria to the UK at the age of nine, is a Detty December regular. Despite living abroad for most of her life, she returns to Nigeria every year to reunite with family and friends.

“It’s always important for me to go back to my roots and to go back to my culture,” she says. “Nigeria, for me, will always be home, so when I go back, I’m happiest. And mainly because, especially in December, everyone is on a vibe of happiness.”

Many locals also look forward to joining the party.

“I also look forward to attending Christmas parties and family Christmas gatherings which is a cultural thing in Nigeria where we cook and host each other and it’s always a good time,” says Ademidun Akindele. “This December was really good. Lagos is extremely populated during this time of the year but I can’t complain because it’s good for the economy and it’s amazing to see people.”

What makes the Nigerian Detty December unique?

For starters, Nigeria’s entertainment scene is buzzing during Detty December, offering an abundance of performances headlined by some of the biggest Afrobeats stars, like Burna Boy, Wizkid, Ayra Starr and Tems.

Festivals such as the Calabar Carnival in Cross River State, referred to as “Africa’s biggest street party,” and the Flytime Fest music festival in Lagos provide once-in-a-lifetime experiences, drawing massive crowds eager to immerse themselves in the culture.

Many events are organized by Cultur FM, an influential brand that boasts a large global presence and serves as a unique platform celebrating the richness of African music. It aims to spotlight the often-overlooked talent in the genre, shifting focus from Western DJs who have embraced these sounds to the African artists and DJs who define them.

During the latest Detty December, Cultur FM staged a series of creative events in Lagos. Collaborating with brands like Air Peace, Pepsi Nigeria and Hennessy Nigeria on gatherings that celebrated African pride while connecting deeply with local communities.

‘Back where it all started’

“We wanted to go back to where it all started,” a Cultur FM founder told CNN Travel. He didn’t want his name revealed in line with the organization’s brand anonymity.

“It was essential to involve local people and celebrate the vibrant creativity of these streets.”

He said the standout from the 2024 lineup was an unforgettable block party in Surulere, the iconic Lagos neighborhood that birthed music legends like Wizkid and Oxlade.

Departing from the typical glitzy beach club scene, this free community event aimed to honor its roots. DJ booths were set up on yellow mini-buses, Oxlade delivered an electrifying performance, and brands distributed free merchandise and drinks.

As Detty December gains prominence each year, so does Cultur FM’s influence. The group plans to expand into Ghana and South Africa, continuing to disrupt the music scene, inspire pride in African heritage and connect the diaspora with its roots.

But it’s not just the events — FOMO (fear of missing out) is real!

Lagos during Detty December is bustling with energy, and even if you’re not there, social media feeds will be packed with pictures and videos of people’s highlight reels from their vacations.

From glamorous weddings — because, lest we forget, December is peak wedding season in Nigeria — to house parties, beach day parties and long-awaited family reunions, there’s never a dull moment.

For most tourists and the Nigerian diaspora, the trip feels worth every penny. The favorable currency conversion for travelers from countries such as the UK, the US and Canada makes luxury experiences and indulgences more accessible.

This affordability, combined with the promise of unforgettable memories, makes it hard to resist hopping on a plane for the ultimate holiday. And that’s not all: Local businesses thrive during this period, with vendors, restaurants, and hotels reaping the rewards, in turn providing a boost to the Nigerian economy.

“One of the things I’ve observed the most is the positive economic impact this December has on Nigeria,” says Cynthia. “People are coming to Nigeria to have fun and pumping money into the economy, bringing in more jobs for, you know, the less fortunate as well, and it’s so beautiful to watch.”

Of course, no good thing comes without challenges. While Detty December feels like a haven of fun, there are certainly drawbacks. Flights to Lagos from the UK, US, and Canada become expensive, especially during this period, prompting IJGBs and frequent visitors to book within the first three months of the year to avoid sky-high costs.

Additionally, as an emerging market, Nigeria’s infrastructure often struggles to handle the influx of visitors during Detty December, leading to severe traffic jams that are a nightmare to navigate.

“Lagos is already populated, but come December, you know most people in the diaspora come to Nigeria,” says Ademidun. “This year, I even noticed more people who aren’t even of Nigerian heritage coming into the country to participate in the events, which was interesting, but it just meant everywhere was packed. So, getting a nail appointment, or a hair appointment wasn’t impossible but it was tricky. There is also a lot of traffic, which we expected but traffic jams are a major hindrance of enjoyment.”

Ademidun’s experience highlights the strain on everyday life during Detty December. But beyond the inconvenience, there’s a deeper issue at play – the impact the celebration has on locals.

Many would like to experience the festivities in full but are met with soaring prices driven up by tourists with deep pockets. This effectively excludessome from enjoying simple pleasures like food, events, beach clubs, and getaways in their own country.

Despite these challenges, Detty December has elevated Nigeria’s global profile, drawing visitors eager to immerse themselves in the festivities. The rich culture, nonstop entertainment, and viral #DettyDecember posts have transformed the country into an even more sought-after vacation destination.

Beyond the partying, it serves as a stage for cultural exports, from authentic traditional cuisine to Afrobeats and the resurgence of Y2K fashion, infused with fashions inspired by Nigeria’s “Nollywood” movie scene, turning every moment of Detty December into a celebration of Nigeria’s cultural richness.

Detty December is no ordinary festive season, it’s a movement that unites people from all walks of life in a celebration of African excellence. It places West Africa in the spotlight and as Lagos shines brightly for the world to see, it’s evident that this isn’t merely a homecoming for the diaspora or a festive holiday destination — it’s an ode to Nigeria’s unyielding spirit and its ever-growing influence on the global cultural stage.

CNN

A groundbreaking study published in Nature Medicine reveals that sugar-sweetened beverages (SSBs) cause approximately 340,000 deaths annually from Type 2 diabetes and cardiovascular disease worldwide.

The research, conducted by Tufts University's School of Nutrition Science and Policy, analyzed data from 184 countries over three decades. In 2020 alone, SSBs were associated with 2.2 million new Type 2 diabetes cases and 1.2 million cardiovascular disease cases, with developing regions bearing the heaviest burden.

Sub-Saharan Africa and Latin America show particularly alarming trends. SSBs account for over 20% of new diabetes cases in Sub-Saharan Africa and nearly 24% in Latin America and the Caribbean. The impact is most severe in countries like Colombia, where sugary drinks are linked to 48% of new diabetes cases and 23% of cardiovascular disease cases.

Dariush Mozaffarian, the study's senior author, highlights how SSBs are aggressively marketed in low- and middle-income nations, where healthcare systems are often ill-equipped to handle the resulting health crisis. Young men appear especially vulnerable to these health impacts.

The researchers advocate for immediate action, including public health campaigns, advertising regulations, and taxation of sugary drinks. Some countries, like Mexico, have already implemented such measures.

In Africa, Nigeria stands out as the continent's largest soft drink consumer, with an annual consumption of 40 million litres. The country ranks fourth globally in soft drink consumption, following the United States, China, and Mexico. In response, Nigeria introduced a N10 per litre tax on sweetened drinks in 2021, with potential plans to double this rate.

SSBs include any liquid containing natural or added sweeteners, from soft drinks and juices to sweetened coffee, tea, energy drinks, and flavored dairy products. The study's findings underscore the urgent need for global intervention to address this growing public health crisis.​​​​​​​​​​​​​​​​

The Oxford English Dictionary (OED) has expanded its collection with 20 Nigerian words and expressions in its latest update, reflecting the growing global influence of Nigerian English and Pidgin. Among the newly added entries are “japa,” “agbero,” “eba,” “419,” “abi,” “suya,” and “yahoo boy.” These words capture diverse aspects of Nigerian culture, daily life, and street slang, further cementing Nigeria’s unique contribution to the English language.

“Japa,” for instance, is defined as the act of fleeing or emigrating, particularly in search of better opportunities abroad, and is listed as both a noun and a verb. Similarly, “agbero” refers to touts or transport workers commonly found at bus stops, while “eba” denotes a staple Nigerian food made from cassava flour. “419,” a term rooted in Nigeria’s penal code, describes fraud, often internet-based.

Kingsley Ugwuanyi, a Nigerian English consultant who played a pivotal role in this update, expressed his excitement on LinkedIn. He revealed that he not only drafted many of the entries but also recorded their pronunciations for the dictionary. “This milestone reflects Nigeria’s culture, creativity, and unique ways of expression,” he wrote, encouraging Nigerians to share and suggest more words for future updates.

This update builds on a similar addition in 2020, when 29 Nigerian words like “okada” and “mama put” were included. It underscores the OED’s recognition of Nigeria’s linguistic diversity, with over 57 Nigerian words now officially part of its database.

The OED described Nigerian Pidgin as a rich source of new English words, with many terms originating from the 1970s and 1980s. The update highlights the global appeal of Nigerian expressions, as seen in the rising use of terms like “Naija” (a nickname for Nigeria) and “yahoo boy” (a term for internet scammers).

With this recognition, the OED continues to celebrate Nigeria’s vibrant culture and the evolving nature of the English language.

The Joint Admissions and Matriculation Board (JAMB) has reported generating N22 billion in revenue for 2024, with N6 billion remitted to the federal government, according to the board's weekly bulletin. The majority of the funds were allocated to operational costs, with over N18 billion spent on conducting the Unified Tertiary Matriculation Examinations (UTME), compensating service providers, and covering essential expenses.

The board's financial breakdown reveals N2.1 billion in staff claims and a N3 billion subsidy program that provided N1,500 per UTME candidate for registration costs.

This latest remittance continues a pattern of significant financial contributions to the federal government that began in 2016 under the leadership of Is-haq Oloyede. This marked a dramatic shift from the board's previous performance, which saw minimal remittances totaling just N50 million between 2010 and 2016.

Under Oloyede's administration, JAMB's federal remittances have consistently remained in the billions, ranging from N5 billion to N8 billion annually. Previous years' contributions include N7.8 billion in 2017, N8 billion in 2018, N5 billion in 2019, N7 billion in 2020, N3.51 billion in 2021, and N2 billion in 2023.

The improved financial performance stands in stark contrast to the period under former registrar Dibu Ojerinde, who served from 2007 to 2016. Ojerinde currently faces prosecution by both the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) for allegedly misappropriating over N900 million in public funds during his tenure. His trial for financial misconduct and resource mismanagement continues.​​​​​​​​​​​​​​​​

Chad’s government announced that security forces thwarted an attempt to destabilize the country on Wednesday evening following gunfire near the presidential office in the capital, N’Djamena. Military personnel swiftly blocked off surrounding streets, and officials assured citizens that the situation was under control.

In a video recorded at the presidential headquarters, government spokesperson Abderaman Koulamallah described the incident as minor and said calm had been restored. “It was a little incident … everything is calm,” he stated in the footage shared on Facebook. “This whole attempt at destabilisation has been thwarted.”

The events unfolded during an official visit by Chinese Foreign Minister Wang Yi, adding a diplomatic dimension to the unrest. Chad recently ended a long-standing defense pact with France, a key Western ally in combating Islamic militants in the Sahel region, marking a significant geopolitical shift.

Koulamallah, seen in the video with a handgun on his hip alongside soldiers armed with assault rifles, promised more details in due course. A security source, speaking anonymously, described the incident as a terrorist attack, explaining that individuals in three vehicles attempted to assault military camps near the president’s office but were neutralized by the army.

Eyewitness accounts painted a tense scene in N’Djamena. Abbas Mahamout Seid, a resident caught near Place de Nation on his motorcycle, recounted hearing intense gunfire and witnessing military vehicles converging on the area.

Chad is led by President Mahamat Idriss Deby, who assumed power in 2021 after the death of his father, long-serving President Idriss Deby, during a battle with northern militias. The elder Deby had ruled the oil-rich but impoverished nation since seizing power in a 1990 coup.

While the government insists the situation is under control, questions remain about the nature and origins of the attempted attack. Further details are expected to shed light on the incident.

Israeli troops recover body of Gaza hostage with signs son also killed

The body of Youssef Ziyadne, an Israeli Bedouin taken hostage by Hamas-led fighters on Oct. 7, 2023, has been found in a tunnel in Gaza, along with evidence suggesting his son may also have been killed, the Israeli military said on Wednesday.

It was not immediately clear how Youssef Ziyadne had been killed but Lieutenant Colonel Nadav Shoshani said his death did not appear to have been recent.

"We are currently investigating the circumstances of his death and we are also investigating the findings regarding his son," he told a briefing with reporters.

"These findings raise concern for his life and they are still being examined at this moment," he said, without giving details.

Earlier Defence Minister Israel Katz said in a statement that the bodies of both men had been recovered.

Shoshani said special forces soldiers had conducted a "complex and difficult operation" in a tunnel in the area of the southern Gaza city of Rafah on Tuesday, and that the body of Ziyadne had been recovered close to bodies of armed guards from Hamas or another Palestinian militant group.

Two other children of Ziyadne, who were also abducted at the same time, were released in an exchange of hostages for Palestinian prisoners that took place in November 2023.

The recovery of Ziyadne's body took place as negotiators continued talks in Doha to halt the fighting in Gaza and bring the remaining hostages back as part of a deal that would include the return of a number of Palestinian prisoners held by Israel.

Israel launched its assault on Gaza after Hamas fighters stormed across the border 15 months ago, killing 1,200 people and taking over 250 hostages, according to Israeli tallies.

More than 46,000 Palestinians have been killed in Israel's air and ground war against Hamas, according to health officials in the enclave.

Reuters

WESTERN PERSPECTIVE

Russian strike kills 13 in Ukrainian city of Zaporizhzhia

A Russian guided bomb attack on Wednesday killed at least 13 people and injured 63 in Ukraine's southeastern city of Zaporizhzhia, authorities said.

The blast left bodies strewn across a road alongside injured residents. Public transport was also damaged in the strike.

Prosecutors in the region said 63 people had been injured. Rescue work had been completed at the site of the attack.

High-rise apartment blocks were damaged along with an industrial facility and other infrastructure, Ukraine's prosecutor general office said on Telegram. The debris hit a tram and a bus with passengers inside, it added.

As emergency workers tried to resuscitate a man, raging flames, smoke and burnt cars could be seen in the background.

Russian troops had used two guided bombs to hit a residential area, the regional governor Ivan Fedorov told reporters.

At least four of the injured were rushed to hospital in serious condition, Fedorov said, adding that Thursday would be an official day of mourning.

"There is nothing more cruel than launching aerial bombs on a city, knowing that ordinary civilians will suffer," President Volodymyr Zelenskiy said on X, urging Ukraine's Western allies to step up pressure on Russia.

Regional authorities reported further explosions after the first strike hit.

Fedorov said Russian troops shelled the town of Stepnohirsk, south of Zaporizhzhia, killing two people. Two residents were pulled alive from underneath rubble.

Russia regularly carries out air strikes on the Zaporizhzhia region, which its forces partially occupy, and its capital. Moscow claims to have annexed the Ukrainian region along with four others including Crimea.

Public broadcaster Suspilne also reported two people killed and 10 injured in attacks on several centres in the southern region of Kherson, also partially occupied by Russian forces.

RUSSIAN PERSPECTIVE

Russian army captures 18 Ukrainian servicemen west of DPR's Kurakhovo

Eighteen Ukrainian servicemen have been taken prisoner west of the Kurakhovo settlement in the Donetsk People's Republic (DPR), the Russian Defense Ministry reported.

"Units of the Battlegroup South have taken more favorable positions. They defeated the formations of two mechanized and an air mobile brigades of the Ukrainian army in the areas of Seversk, Belogorovka, Chasov Yar, Vasyukovka and Yantarnoye in the DPR. Three counterattacks by enemy assault groups were repulsed. Ukraine lost more than 280 servicemen; 18 soldiers of the 46th air mobile brigade were captured west of Kurakhovo," it said.

Russia’s army also destroyed a tank, an infantry fighting vehicle, a US-made M113 armored personnel carrier, seven pickup trucks, two artillery pieces and an ammunition depot.

Air defenses

"Air defense means shot down six rockets of the US-made HIMARS multiple rocket launcher system and 105 fixed-wing drones," the ministry said.

It noted that a total of 652 airplanes, 283 helicopters, 39,723 unmanned aerial vehicles, 590 anti-aircraft missile systems, 20,290 tanks and other armored combat vehicles, 1,507 multiple rocket launchers, 20,284 field artillery and mortar guns, and 29,983 items of special military vehicles have been destroyed since the beginning of the special military operation.

Reuters/ Tass

I’ve been meaning to sell some company stock and diversify into another investment for awhile now. Here’s the thing, though: it’s hard. Not the actual sale – that’s as easy as clicking a few buttons. But first I need to look up a bunch of stuff related to taxes. 

There are other details, too, that I’m going to have to call someone and ask about. Because that sounds miserable, I haven’t done it. 

Behavioral finance experts have a name for this cognitive bias: complexity aversion.

In my particular case, it’s not a huge deal. But if it’s keeping you from, say, investing in the stock market at all, it’s something you’d be wise to address, says Amos Nadler, founder of Prof of Wall Street and a Ph.D. in behavioral finance and neuroeconomics.

“It’s the biggest barrier to building wealth for people who are not in markets or who have never invested before,” he says.

Staying on the sidelines means sacrificing your greatest asset as an investor: time. The longer you invest, the more time you give your money to grow at a compounding rate. For every year you delay getting started in the market, you potentially shave thousands of dollars off your future net worth.

Consider a 20-year-old who invests $200 a month into a retirement portfolio that earns an annualized total return of 8%. By the time she’s ready to retire at age 67, she’ll have $1.25 million saved. If she starts at age 25, with all other conditions the same, her total drops to about $830,000. And if she puts things off until age 30, she’d retire with $547,000.

Spend a few minutes playing around with Make It’scompounding interest calculator and you can see for yourself.

So if enrolling in that 401(k), for example, has seemed too complicated, now’s the time to talk to someone in HR about getting started. Your future self will thank you.

CNBC

The Nigerian stock market experienced its first decline of the year yesterday, with market capitalization dropping by N152 billion to close at N63.051 trillion. The all-share index (ASI) fell by 249.42 points (0.24%) to close at 103,398.82 points, primarily due to sell-offs in Northern Nigeria Flour Mills (NNFM) and 50 other stocks.

Market Performance:

The market showed negative investor sentiment, with 51 stocks declining compared to 19 advancing. Trading volume increased by 30% to 1.112 billion units, valued at N14.638 billion across 16,617 deals.

Top Gainers:

- Abbey Mortgage Bank and PZ Cussons Nigeria: Both up 10% (closing at N3.63 and N27.50 respectively)

- Learn Africa: Up 9.90% (closing at N5.44)

- NCR Nigeria: Up 9.77% (closing at N7.30)

- Nigerian Exchange Group: Up 9.72% (closing at N29.90)

Top Losers:

- FTN Cocoa Processors, RT Briscoe Nigeria, and Veritas Kapital Assurance: All down 10%

- SUNU Assurance and Cornerstone Insurance: Both down 9.98%

- Honeywell Flour Mills: Down 9.92%

Most Active Stocks:

FBNH Holdings led trading activity with 161.46 million shares (N4.715 billion), followed by AIICO Insurance with 120.703 million shares (N225.444 million).

Market Outlook:

Analysts at Vetiva Dealings and Brokerage note that the ASI's slower start this January contrasts with the 6.5% gain seen in early 2024. They attribute cautious investor sentiment to higher fixed-income yields and predict selective buying in the next trading session.​​​​​​​​​​​​​​​​