MARKET SUMMARY 12 JUNE, 2017.

Trading activities on the Nigerian stocks Exchange yesterday closed on a negative note as the all share index dropped by -0.12%.The NSE All-Share Index and market capitalization closed at 33,235.28 and N11.5 trillion respectively.In all a total turnover of 501.081 million shares exchange hands in 6,635 deals in the day’s trading.
ECONOMY AND BUSINESS NEWS 13 JUNE, 2017.
$500m Eurobond oversubscribed by 240% – UBA
The United Bank for Africa Plc on Monday said it had raised $500m through a debut Eurobond, which was oversubscribed by 240 per cent.The significant investor demand reflects the strong global investor appetite for UBA’s credit and support for the group’s pan-African financial services strategy”, the lender said in a statement.Read more http://punchng.com/500m-eurobond-oversubscribed-by-240-uba/
Rights issue spurs resurgence of primary market activities
 
Capital market experts have expressed optimism that the high level of participation from investors in the on-going right issues of some quoted companies on the Nigerian Stock Exchange (NSE) would stir up activities in the primary market segment as well as spur the revival of public offers.Read more http://guardian.ng/business-services/rights-issue-spurs-resurgence-of-primary-market-activities/
Osinbajo signs 2017 budget after Buhari’s nod
AFTER President Muhammadu Buhari gave the go ahead, acting President Yemi Osinbajo on Monday assented to the 2017 budget.
He performed the ceremony in his office flanked by Senate President, Bukola Saraki; Deputy Senate President, Ike Ekweremadu; Speaker of the House of Representatives, Yakubu Dogara; Chief of Staff to the President, Abba Kyari, minister’s and other top government officials.Read more  http://tribuneonlineng.com/breaking-osinbajo-signs-budget/
15 Banks Record N4.47trn In Shareholders’ Funds
About 15 commercial banks operating in the country have reported N4.47 trillion in shareholders’ funds in 2016 attributed to their efforts at enhancing the quality and ensuring financial system stability.The said banks had reported N3.99trillion shareholders’ funds in the previous year, an increase of 11.7 per cent or N471 billion. The banks include Zenith Bank Plc, a Tier-1 commercial bank with the highest shareholders’ funds in the banking industry. It was followed by First Bank Holdings Plc and Eco Transnational Incorporated Plc. Read more http://leadership.ng/2017/06/13/15-banks-record-n4-47trn-shareholders-funds/
CBN injects $413.5m in economy to sustain Naira value
The Central Bank of Nigeria (CBN) yesterday intervened in the inter-bank Foreign Exchange market to the tune of 413.5 million dollars to further shore up the international value of the Naira.In a statement in Abuja  by its acting Director, Corporate Communications, Mr Isaac Okorafor,  the apex bank said the latest intervention underscores the apex bank’s resolve to sustain liquidity in the foreign exchange market.Read more http://thenationonlineng.net/cbn-injects-413-5m-economy-sustain-naira-value/
NIPCO names helmsmen for N90bn Mobil acquisition, others
NIPCO Plc has announced names of helmsmen for the N90 billion acquired ExxonMobil Oil Corporation’s stake in Mobil Oil Nigeria Plc and the entire corporation. The company said in a statement said its management had approved new appointments with the elevation of the former Managing Director, Mr Venkataraman Venkatapathy, to the position of Group Managing Director (GMD). The acquisition was buoyed by the deregulation in the downstream petroleum industry by the Federal Government of Nigeria.Read more https://newtelegraphonline.com/2017/06/nipco-names-helmsmen-n90bn-mobil-acquisition-others/
Forex: Lafarge hedges $300m with CBN for futures contract
In order to guard against further foreign exchange (forex) losses, Lafarge Africa Plc has hedged $300 million with the Central Bank of Nigeria (CBN) in non-deliverable Futures contracts just as it plans to float N140 billion  Rights Issue to reduce its initial hard currency exposure.Read more http://sunnewsonline.com/forex-lafarge-hedges-300m-with-cbn-for-futures-contract/

Tech Stocks May Be Both Cheap—and Risky (AAPL, FB, GOOGL)

As a sign of vulnerability in the (so far) high-flying technology sector, many of the biggest names tumbled towards earth on Friday. Among the so-called FAANG five, the declines for the day were: Facebook Inc. (FB

Facebook Inc
FB
149.60
-3.30%

), 3.3%, Apple Inc. (AAPL

Apple Inc
AAPL
148.98
-3.88%

), 3.9%, Amazon.com Inc. (AMZN

Amazon.com Inc
AMZN
978.31
-3.16%

), 3.2%, Netflix Inc. (NFLX

Netflix Inc
NFLX
158.03
-4.73%

), 4.7%, and the parent of Google, Alphabet Inc. (GOOGL

Alphabet Inc
GOOGL
970.12
-3.40%

), 3.4%, per Investopedia data. The tech-heavy Nasdaq 100 Index shed 2.4% of its value on Friday, per data from Nasdaq, while the tech stocks in the Nasdaq 100 were off by 3.6%, also per Nasdaq. As a point of comparison, the S&P 500 Index (SPX) dipped by less than 0.1%. (For more, see also: The Tech Bubble Will Burst: The Question Is When.)

Eggs in One Basket

On Thursday, Bank of America Merrill Lynch, a division of Bank of America Corp. (BAC

Bank of America Corp
BAC
23.67
+3.05%

), released a report indicating that the tech sector offers both risks and opportunities for investors. In May, tech was both the best-performing S&P 500 sector and the one whose price-earnings (P/E) ratio increased the most, according to Merrill Lynch. At approximately 19x as of the report’s issuance, Merrill notes that this is the tech sector’s highest valuation since the financial crisis.Moreover, tech is more overweight than it ever has been, among large cap actively-managed funds surveyed by Merrill since 2008. In their May 30 Active Managers’ Holdings Update, Merrill notes that survey respondents are 24% overweight in tech, almost two standard deviations above average. Yet more striking is the fact that fund managers are 71% overweight in FANG stocks (Merrill excludes Apple), though this weight has been flat for a year. The bigger picture is that funds have made a record shift from value to growth sectors over the past 12 months, leading Merrill to prefer value to growth right now. (For more, see also: The Gold Rush into Tech Is Still on.)

Conflicting Valuation Signals

Nonetheless, Merrill says, “But although Tech’s 8% premium to the S&P 500 P/E is the biggest premium we have paid since 2010, it is still low relative to history, even excluding the Tech Bubble.” Moreover, Merrill finds that all industries within the tech sector are sporting P/E ratios that are lower than or in line with their “historical average relative P/E multiples.” Closing out the positives, Merrill says that tech screens as most attractive according to their quant models.

On the other hand, based on its enterprise value (EV) to sales ratio, tech is trading at its highest relative multiple since the tech bubble. Exclude the bubble period, and tech currently is still valued well above the average for this metric, Merrill says. Additionally, Merrill finds that inconsistent accounting treatment of stock-based compensation, which is a large expense for most tech companies, might cause tech’s P/E to be understated by as much as 10%. Bottom line: Merrill is marketweight in tech, based on these conflicting valuation signals.

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Thoughtfully Engaging Today’s Issues

Would Bernie Sanders vote for Jesus?
Dr. Jim Denison | June 12, 2017
President Trump has nominated Russell Vought as deputy director of the White House Office of Management and Budget. Last year, Vought wrote a blog post in which he stated, “Muslims do not simply have a deficient theology. They do not know God because they have rejected Jesus Christ his Son, and they stand condemned.”

Senator and former presidential candidate Bernie Sanders is opposing Vought’s nomination, calling his blog post “indefensible.” In Sanders’s view, “It is hateful. It is Islamophobic. And it is an insult to over a billion Muslims throughout the world.” He then stated, “This nominee is really not someone who is what this country is supposed to be about.”

Southern Baptist ethicist Russell Moore rightly notes that Sanders completely ignores Article VI of the US Constitution, which states, “No religious Test shall ever be required as a Qualification to any Office or public Trust under the United States.” Sanders has no right to oppose Vought’s nomination on the basis of the candidate’s personal religious beliefs. The senator’s position is clearly unconstitutional.

Here’s another reason Sanders’s opposition is so significant: by his standard, Jesus could not serve in American public office. Our Lord said of himself, “Whoever believes in him is not condemned, but whoever does not believe is condemned already, because he has not believed in the name of the only Son of God” (John 3:18). Muslims, while they consider Jesus to be a great prophet, emphatically deny that he is the Son of God: “Jesus was no more than a mortal whom Allah favored and made an example to the Israelites” (Qur’an 43:59).

So Jesus would agree with Russell Vought that Muslims “stand condemned.” Would Bernie Sanders vote against Jesus for public office?

Andrew Bacevich’s fascinating recent article in Commonweal describes our culture well: “Anything that enlarges choice is commendable,” while “anything that inhibits choice calls for critical examination.” From abortion to euthanasia, personal freedom reigns supreme. Claiming that a religion or moral position is objectively wrong violates our oxymoronic commitment to subjective truth.

As a result, we can expect Christians who stand for objective biblical truth to face increasing opposition in American life. Pastor and professor James Emery White is right: “In current American culture, you are free to be a Christian as long as you don’t actually live out your faith, vote your faith, take a stand in relation to your faith, or believe others should embrace your faith.”

White cites a visit to the Vatican by British Cabinet Minister Baroness Warsi, who stated: “My fear today is that a militant secularization is taking hold of our societies . . . one of the most worrying aspects about this militant secularization is that at its core and in its instincts it is deeply intolerant. It demonstrates similar traits to totalitarian regimes—denying people the right to a religious identity. . . . You cannot extract Christian foundations from the evolution of our nations any more than you can erase the spires from our landscape.”

White concludes, “And before anyone says, ‘There’s another alarmist Christian right-winger for you,’ think again. Sayeeda Warsi is a Muslim.”

Peter said of Jesus, “There is no other name under heaven given among men by which we must be saved” (Acts 4:12). If you agree, will your witness match your theology today?

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CNBC AFRICA Daily update

CNBCAfrica.com’s daily news update
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In today’s edition:

How to set up your iPhone to avoid expensive surprises on your phone bill

Follow these tips if you’re tired of going over on your data.

The post How to set up your iPhone to avoid expensive surprises on your phone bill appeared first on CNBC Africa.

Tags: Financial, International, Technology, Z-MC Daily Newsletter, apps, expensive, iPhone, mobile data, phone bill, technology, Todd Haselton
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Tanzania signs $154 mln contract with Chinese firm to expand main port

DAR ES SALAAM | Tanzania’s government signed a $154 million contract on Saturday with the state-run China Harbour Engineering Company (CHEC) to expand the main port in the commercial capital, Dar…

The post Tanzania signs $154 mln contract with Chinese firm to expand main port appeared first on CNBC Africa.

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IMF may grant Zambia $1.3 billion funding package

The International Monetary Fund (IMF) may grant Zambia up to $1.3 billion in a three-year credit facility.

The post IMF may grant Zambia $1.3 billion funding package appeared first on CNBC Africa.

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Gaddafi son Saif freed in Libya, whereabouts unclear – lawyer

Saif al-Islam Gaddafi has been freed by an armed group in western Libya.

The post Gaddafi son Saif freed in Libya, whereabouts unclear – lawyer appeared first on CNBC Africa.

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Nigeria’s Buhari not to return this weekend -presidency sources

Nigeria’s President Muhammadu Buhari will not return home from medical leave in Britain at the weekend

The post Nigeria’s Buhari not to return this weekend -presidency sources appeared first on CNBC Africa.

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TECH TALK: FROM ISRAEL TO LOS ANGELES

BYARIEL SHAPIRA
JUNE 6, 2017 21:21

Thousands of guests and representatives of dozens of companies from around the world are gathering this week at the Tel Aviv Port to participate in the 7th annual Israel Mobile Summit.

Splash Ventures' Guy Katsovich

Splash Ventures’ Guy Katsovich. (photo credit:INBAR LEVI)

Splash Ventures, a new accelerator program for Israeli start-ups will operate in Los Angeles. The city has the third-largest startup ecosystem in the US, after Silicon Valley and New York according to the 2015 Global Startup Ecosystem Ranking Report.

Splash is launching its drafting process for the first cycle for 6 chosen Israeli start-ups, which will participate in a 3-month program in LA this August. As part of its program, Splash will provide practical assistance in branding and marketing, business development, and venture capital-raising The Israeli entrepreneurs will meet with leading figures in the Los Angeles tech ecosystem, including investors, executives and innovation managers in accelerator programs and corporations, as well as entrepreneurs and professionals.

“Our vision is to be the bridge between innovation in Israel and Los Angeles, leveraging the entrepreneurial spirit and fast pace that are abundant in both places”, said Guy Katsovich, Managing Partner at Splash. “Our goal is to make Splash synonymous with connecting the Israeli and LA tech industries, becoming the go-to organization for Israeli entrepreneurs who want to connect to this dynamic city.”

The tech and venture landscape in Los Angeles is also the fastest growing in the US.

News from CNBC Africa

CNBCAfrica.com’s daily news update
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In today’s edition:

Op-Ed: It’s cold outside Zuma’s ANC. But there’s little warmth left inside

In the liberation struggle against apartheid a small number of white people joined the battle to overthrow the South African regime. One of them, academic Raymond Suttner, was first arrested…

The post Op-Ed: It’s cold outside Zuma’s ANC. But there’s little warmth left inside appeared first on CNBC Africa.

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Faced with more drought, Zimbabwe’s farmers hang up their plows

MUREHWA, Zimbabwe (Thomson Reuters Foundation) – Preparing his three-hectare plot of land for planting each year used to take Musafare Chiweshe – or the laborers he hired – two weeks….

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UK faces hung parliament; Corbyn calls for May to step down

The U.K. voted in a general election on Thursday and so far, PM May’s ruling Conservative party is in the lead.

The post UK faces hung parliament; Corbyn calls for May to step down appeared first on CNBC Africa.

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Why your long-term insurance is essential during a recession

Insurance sector struggling to find innovation - reportSouth Africa has experienced two consecutive quarters of negative economic growth. Gross domestic product (GDP) fell 0.7% in the first quarter of this year and pulled back 0.3% in the…

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Total looks to invest in Morocco, S.Africa

Total will roughly double its liquefied natural gas portfolio by 2020 to 15 million tonnes per year,

The post Total looks to invest in Morocco, S.Africa appeared first on CNBC Africa.

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Nigeria to start international roadshow for diaspora bonds sale

Nigeria will start an international roadshow.

The post Nigeria to start international roadshow for diaspora bonds sale appeared first on CNBC Africa.

Tags: Western Africa, Z-MC Daily Newsletter, Bank of America Merrill Lynch, diaspora bonds, Nigeria, recession, Standard Bank of South Africa
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Zambian opposition leader’s treason case headed for trial

Zambia’s opposition leader Hakainde Hichilema will go on trial at a high court on treason charges, a magistrate said on Thursday, in a case that has stoked political tensions following…

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South Africa’s in a recession. Here’s what that means

  South Africa has been rocked by news that it has slipped into a recession after its gross domestic product (GDP) declined 0.7% during the first quarter of 2017 after…

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Nigeria – Boko Haram attack in Maiduguri ahead of VP’s visit

  On Wednesday, June 7, Boko Haram militants attacked the city of Maiduguri, Borno State, in what Reuters reports was the “most serious assault” on the regional capital in a…

The post Nigeria – Boko Haram attack in Maiduguri ahead of VP’s visit appeared first on CNBC Africa.

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Huawei will leapfrog Apple and HP to lead the PC market in five years, top exec says

Huawei will become the top personal computer maker in the world in three to five years.

The post Huawei will leapfrog Apple and HP to lead the PC market in five years, top exec says appeared first on CNBC Africa.

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South Africa’s manufacturing output shrinks 4.1 percent y/y in April

South Africa’s manufacturing output contracted by 4.1 percent year-on-year in April.

The post South Africa’s manufacturing output shrinks 4.1 percent y/y in April appeared first on CNBC Africa.

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Fitch sees South Africa missing revenue forecasts

JOHANNESBURG (Reuters) – South Africa is likely to miss revenue forecasts set out in a February budget while weakness in running of state-owned companies will be a risk to fiscal…

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South Africa’s central bank wary of cutting rates: Kahn

South Africa’s central bank is wary of cutting interest rates to support economic growth.

The post South Africa’s central bank wary of cutting rates: Kahn appeared first on CNBC Africa.

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South Africa’s Dondo Mogajane confirmed as treasury’s director general

South Africa’s cabinet has confirmed Dondo Mogajane as permanent director general at national treasury.

The post South Africa’s Dondo Mogajane confirmed as treasury’s director general appeared first on CNBC Africa.

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Assessing Africa’s renewable energy drive

Assessing Africa’s renewable energy drive

The post Assessing Africa’s renewable energy drive appeared first on CNBC Africa.

Tags: Latest Video, Videos, West Africa, Z-MC Daily Newsletter, Africa, Beyond Markets, Christine Line, emerging markets, FBN Merchant Bank, REN 21, renewable energy, Rolake Akinkugbe
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Africa urged to develop the right tax incentives

Africa urged to develop the right tax incentives

The post Africa urged to develop the right tax incentives appeared first on CNBC Africa.

Tags: Latest Video, Videos, West Africa, Z-MC Daily Newsletter, ACU, African Union Commission, Belgium, economy, EU-Africa business forum, executive, integrated Africa, Nigeria, pierre gattaz, Power Lunch
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Nigeria’s power of appropriation tussle

Nigeria’s power of appropriation tussle

The post Nigeria’s power of appropriation tussle appeared first on CNBC Africa.

Tags: Latest Video, Videos, West Africa, Z-MC Daily Newsletter, All Share Index, analysis, asi, economy, Etti & Edu, executive, FYI, jackson, Nigeria All Share Index, Nigerian Stock Exchange, NSE, Power Lunch, Taiwo Adeshina
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Funds shortage forces UN to cut emergency food aid for 400,000 in Nigeria

The United Nations World Food Programme (WFP) has had to scale back plans for emergency feeding of 400,000 people in Boko Haram-hit northeast Nigeria.

The post Funds shortage forces UN to cut emergency food aid for 400,000 in Nigeria appeared first on CNBC Africa.

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British election may be much closer than expected – Analysts

British election may be much closer than expected – Analysts

The post British election may be much closer than expected – Analysts appeared first on CNBC Africa.

Tags: Latest Video, Videos, West Africa, Z-MC Daily Newsletter, Adedapo Adelegan, economy, executive, investment, Nigeria, Nigerian-British Chamber of Commerce and Industry, polls, Power Lunch, UK
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South Africa’s NUMSA union demands 15 pct wage hike in engineering sector

Ed Stoddard | JOHANNESBURG The National Union of Metalworkers of South Africa (NUMSA) said on Thursday it had tabled demands for wage hikes of 15 percent across the board in…

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Majority black-owned property company launched in SA

Majority black-owned property company launched in SA

The post Majority black-owned property company launched in SA appeared first on CNBC Africa.

Tags: Latest Video, Videos, Z-MC Daily Newsletter, Africa, executive, Investec Property Fund, Izandla Property, Izandla Property Fund, Nick Riley, Power Lunch, South Africa, Southern Africa, Sthembile Nkabinde
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United Kingdom votes: Theresa May or Jeremy Corbyn?

United Kingdom votes: Theresa May or Jeremy Corbyn?

The post United Kingdom votes: Theresa May or Jeremy Corbyn? appeared first on CNBC Africa.

Tags: Latest Video, Videos, Z-MC Daily Newsletter, Africa, Conservative Party, executive, Jeremy Corbyn, labour party, Llewellyn Consulting, Power Lunch, russell jones, South Africa, Southern Africa, Theresa May
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South Africa’s rand steadies, focus on economic data

South Africa’s rand steadied against the dollar early on Thursday.

The post South Africa’s rand steadies, focus on economic data appeared first on CNBC Africa.

Tags: Financial, International, News, Southern Africa, Z-MC Daily Newsletter, Britain election, dollar, economic data, manufacturing, mining, rand, steady
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Facebook is planning to move WhatsApp off IBM’s public cloud, source says

Facebook is planning to move off of IBM’s cloud and into Facebook’s own data centers.

The post Facebook is planning to move WhatsApp off IBM’s public cloud, source says appeared first on CNBC Africa.

Tags: International, Technology, Z-MC Daily Newsletter, Amazon, cloud, Facebook, IBM, technology, WhatsApp
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CEO ROUNDTABLE – INNOVATING OUT OF NIGERIA’S RECESSION:  EXPLORING NEW PARADIGMS FOR NIGERIA’S ECONOMIC GROWTH

THE NIGERIAN STOCK EXCHANGE & BLOOMBERG EVENT

The Nigerian Stock Exchange & Bloomberg invite you to join us for the third annual NSE Bloomberg CEO Roundtable.

This edition will focus on innovating out of Nigeria’s recession and will bring together reputable economists, top government officials and CEOs spanning the Manufacturing, Financial Services, Telecommunications, Agricultural, Investment and Educational sectors.

The bane of Nigeria’s exposure to global economic headwinds is the resource dependent nature of its economy, which has seen the country derive its major  income  from the sale of its unrefined resources (majorly oil, minerals and cash crops) without building value across the supply chain to  yield better earnings.  The recent recession has shown that Nigeria’s dependence on natural resources without building value along the supply chain creates little or no buffers for the nation to withstand global economic downturns.

The 2017 edition of the NSE/Bloomberg CEO Roundtable will address this topical issue of resource dependency and the alignment of the economic recovery plan and roadmap to insulate the Nigerian economy from the shocks that come with resource dependency.

AGENDA

09:30-10:00 AM Registration
10:00-10:10 AM Welcome Address & Introduction
Oscar N. Onyema, OON
CEO, The Nigerian Stock Exchange
10:10-10:30 AM Keynote Address
Kemi Adeosun
Honorable Minister of Finance
10:30-10:40 AM Opening Address
Selloua Chakri
Head of Market Structure Strategy, MEA, Bloomberg L.P.
10:40-11:00 AM Economic Roundup
Dr. Doyin Salami
Associate Professor, Lagos Business School
and Principal Consultant, Edward Kingston Associates
11:00-12:00 PM Panel Discussion:
INNOVATING OUT OF NIGERIA’S RECESSION: EXPLORING NEW PARADIGMS FOR NIGERIA’S ECONOMIC GROWTH
Dr Demola Sogunle – CEO, Stanbic IBTC Bank
Andrew Alli – CEO, African Finance Corporation
Ms. Ngozi Adebiyi – CEO, OutsideIn HR
Ms. Funke Opeke – CEO, Main One
Dr Graham Hefer – MD, Okomu Oil Plc
Mark Bohlund – Africa & Middle East Senior Economist, Bloomberg
Moderated by Yinka Ibukun, Bloomberg News
12:00-12:20 PM Q & A
12:20-12:30 PM Vote of Thanks
Haruna Jalo-Waziri
Executive Director, Capital Markets Division, The Nigerian Stock Exchange

WHEN & WHERE

Friday 16 June 2017
09:30 AM — 12:30 PM

The Nigerian Stock Exchange
Event Center

Pre Registration is Essential

Osinbajo to sign 2017 budget, as Presidency, NASS reach agreement

 

 

ON JUNE 9, 201710:24 AMIN NEWS COMMENTS By Soni Daniel, Northern Region Editor ABUJA—

After three days of stormy deliberations over the belated 2017 budget, the Presidency and the National Assembly, NASS, have resolved all the grey areas that prevented the President from assenting to the Appropriation Bill passed into law by the legislature last month. A top Presidency source confirmed to Vanguard, last night, that the major areas of disagreement had been resolved by the two sides, paving the way for the President to assent to the bill, which is already six month late in coming and holding back major financial transactions of the government. As a result of the deal struck by both parties, there were indications that the President would assent to the bill before the end of this week, although the presidential source simply said:  “We will sign it soon,” declining to specify the date and time. The meetings by the Presidency and the leadership of the NASS took place on Sunday, Monday and Tuesday before the areas of conflict were resolved, according to competent sources close to the deal. Vanguard learned that as part of the understanding between the two sides, the lawmakers would not insist on the full implementation of the “over 400 strange projects,” which the lawmakers brought into the budget and would also not accuse the executive of not complying with the full implementation of the law. “It is true that all the contentious issues that delayed the President’s assent had been resolved. Hopefully, the president will assent to the budget soon,” the official confirmed to Vanguard, yesterday. It was learnt that the lawmakers had also accepted that money taken away from major infrastructure projects by the lawmakers and added to other obscure projects, be returned to those projects as outlined by President Muhammadu Buhari in the budget sent to the NASS even though the president would sign the bill as transmitted to him by the NASS. The Presidency had frowned at the insertion of strange projects mostly roads, health centres, recreational centres, water and electricity schemes, which are under state and local governments that were never evaluated, designed or included in the federal government. The executive was also upset that while NASS slashed the votes for other vital projects and MDAS, it jerked its own votes from N115 billion to N125 billion even with the hard times. Beyond that, NASS also increased the budget by N143 billion without explaining where the additional cash would be derived from, a development that made the executive to distance itself from the fiscal document, contending that  the “distortions” would adversely affect the implementation of the budget.

Read more at: http://www.vanguardngr.com/2017/06/osinbajo-sign-2017-budget-presidency-nass-reach-agreement/

How to Live a Healthy, Balanced, and Interesting Life


Katherine Miller lives a strange life. She only works six months of the year.

She’s a Process Engineer for a mining company in Australia. The cause of her unique work schedule is the mine’s location. It’s in a remote area. There aren’t enough people to hire locally, so her company has built a village there.

This means that the workforce is rotated in and out. In Miller’s case, she works for 12 hours a day for two weeks before somebody else takes her place for the two weeks that she’s off.

The lifestyle isn’t for everyone. Being away from home for a few weeks at a time isn’t easy, and the work days are challenging. The whole idea is even more daunting if you have a family.

Miller, however, enjoys her job. She’s excited about solving problems, and each day allows her to do exactly that. In spite of the compromises, she can’t imagine having it any other way.

Being in her mid-twenties, she doesn’t have a family to worry about, and she also doesn’t have a home. When she works, housing is provided, and when she’s off, she travels with the money not spent on rent and living expenses.

Her life is a version of the “work hard, play hard” cliche. She loves it.

Of course, not only is an arrangement like that not feasible for most people, but it’s also not universally appealing. Everyone has their own definition of work and play. That said, there’s an underlying formula in Miller’s life that we all can use to live an interesting and balanced life by:

• Crafting routines that add meaning and identity

• Designing for autonomy to create empowerment

• Balancing with variety to maintain appreciation

We have more flexibility to redesign our life than we think. Let’s do so.

Craft Routines That Add Meaning and Identity

Routines aren’t sexy. They rarely provide any immediate returns. There’s little short-term spice in following the same loop day in, day out. If we’re doing the same thing everyday, there’s a lot else in life we’re not doing.

In spite of their short-term unsexiness, however, routines help us meet the demands of life. They limit the decisions we have to make, and they better allocate our focus.

In a study published as a collaboration between the Columbia Business School and Ben Gurion University, researchers analyzed 1,112 rulings made by judges on parole boards. The judges began their day with a session, took a break, and then finished off another session.

They were measured for the number of favorable rulings they made throughout the day, and the researchers found that each session began with about a 65% chance of a positive ruling and went downhill after that. This was true for the sessions before and after the midday break. The longer the judges made decisions, the less consistent their judgment became.

This is a phenomenon in behavioral psychology known as decision fatigue.

Good routines allow us to bypass unnecessary decisions, so we can orient ourselves when it matters. They cut out needless choice in the short-term to reward us in the long-term.

Pretty much anything that modern society values as a great accomplishment requires a routine to fuel it. To get the most out of something, whether it be a career, hobby, or a relationship, we need to invest time, and we need to do so systematically and consistently.

It’s not always exciting for even the artists or entrepreneurs, chasing their dreams, to get up and get to work at 6 AM every day, but that’s a part of pursuing something valuable.

Without routines to automate and guide our behavior, we get pulled in far too many directions, and that stops us from making the choices that we need to craft a purposeful future.

That said, the fruits of the labor don’t just show themselves in the form of accomplishment. The process of meaningful investment, even if it isn’t always fun, keeps us grounded. It connects us to a source, and there are moments in life when that can be of critical importance.

Without the commitment of good routines, it’s far harder to forge a sense of long-term identity.

Design for Autonomy to Create Empowerment

Routines get an unfair reputation, but at times, there’s a good reason for it.

No matter what the routine, there’s a cost that comes with the discipline that it infuses. It has a degree of control over us even if we pursue it by choice because it limits what we can do beyond the enforced parameters.

To live an existence of more than just limitations, we need to design parts of life for autonomy to create empowerment. Autonomy is closer to living in the moment. It welcomes some of the instant gratification and pleasure that we need to enjoy life on a more consistent basis.

In 1997, Richard Ryan and Christina Frederick conducted an extensive meta-analysis of six different studies to measure the effect of subjective vitality (a positive feeling of energy and aliveness) on general well-being across a multitude of factors.

Interestingly enough, not only did they find a correlation between the two, but they also drew on established theories of human motivation and found that autonomy, in particular, played a large role in energy levels of the subjects across the studies. When people had a degree of control, they showed higher levels of vitality, which subsequently influenced their well-being.

Too many choices might be exhausting, but reasonable empowerment is exciting. It adds a sense of possibility beyond what we know, and that’s liberating. There really is more to life.

There are far too many people simply going through the motions, while not being content with how they’re living. They live their life for an indeterminate future. It’s a suboptimal strategy.

If that’s you, then maybe it’s time to prioritize more autonomy in your life. If you feel stuck, then maybe you need more control than the illusion provided by what appears as free time.

Naturally, for many of us, certain commitments aren’t too flexible. Bills need to be paid, and relationships need attention. That said, there are still more options than we intuitively think.

We all get 168 hours a week. If you do an honest audit of how you spend them, you’d be surprised at how much wasted time can be carved out for activities that create autonomy.

Balance With Variety to Maintain Appreciation

Routines add meaning, but autonomy adds the flavor.

That said, there is such a thing as too much autonomy, too. In small doses, it’s invaluable, but we can also easily become desensitized to its appeal. By nature, autonomy pushes us towards instant gratification.

The more we get, the more we want, and the game of relativity warps our perception quickly and unsuspectingly. It cheapens the good but still has us craving more. On the surface, it can open up an ocean of possibilities, but in reality, that only leads to disorientation.

Over short periods, there will be a misbalance here and there. As the months and years add up, however, we should have a healthy divide between the two. To maintain appreciation, we need to balance the pleasure invited by autonomy with the meaning inspired by routines.

Let’s recount the story of Katherine Miller.

Over the course of the year, half of her time is spent doing something she really enjoys at work. Sure, it’s hard stuff, and it has its ups and downs, but for the most part, that’s her source of usefulness and identity.

The other half of the year, she spends traveling. It’s a lifestyle in which she practically chooses do whatever she wants in windows of two week periods. It allows her to get away from some of the more mundane aspects of living a life of consistency, and that’s empowering.

Taken to the extreme, in a different world, if she did one exclusively without the other, she might find herself engorged and excited for a while, but in most scenarios, either extreme would leave her dissatisfied in the long run.

Knowing the balance needed to appreciate the many layers of life is a personal undertaking. It makes sense to develop an understanding of where on the spectrum you stand.

As famed researcher Daniel Gilbert points out in Stumbling on Happiness,“The secret of happiness is variety, but the secret of variety, like the secret of all spices, is knowing when to use it.”

All You Need to Know

In truth, it’s virtually impossible to dissect what it is that makes us happy. There’s no comprehensive package out there that’s broad enough to enlighten everyone. We’re born with different genes, we live in different environments, and we entertain different perspectives.

In some ways, we can reason that there’s a way there with a healthy mixture of meaning and pleasure. If we settle with that, by focusing on optimally incorporating the two, we can at least live a balanced and interesting life.

That’s the focus here, and there are three parts to it.

I. Craft routines that add meaning. They might not always be sexy in the short-term, but they’re invaluable in any quest to accomplish something over time. They allow us to bypass needless choice, and they ground to us to an identity. Without them, we would be paralyzed into making decisions that misalign with future prosperity.

II. Design for autonomy to create empowerment. Routines, whether good or bad, often have a degree of control over us. They confine what we can do, and that’s not always ideal. To live beyond just limitations, we need autonomy, too. We need the option to indulge in the easy pleasures of life, and we need to feel liberated and in charge.

III. Balance the two with variety to maintain an appreciation of both. Excess of one or the other is unhealthy. It’s about stabilizing the meaning and structure of routines with the empowerment of autonomy. If you feel trapped by your routines, you need a dose of autonomy. If you feel desensitized by the autonomy, you need to mix in a few routines.

That’s it. It’s by no means a blueprint, but it can serve as a useful mental model. Different people will extract their own nuggets of value from it. The only point is to inspire thinking about how to live deliberately.

Balance doesn’t always mean an even divide. It’s just about what works.


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This was originally published at Design Luck.