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As I Posited, Liz Truss Makes The Finals To Replace Boris Johnson with Implications for Ukraine

By
Ndubuisi Ekekwe
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3

On July 7, I wrote a piece titled “United Kingdom Cooks for Boris Johnson; He Ran Away” explaining how Mr. Johnson could not handle the pressure in the UK. Hilary Unachukwu dropped a note: “ I wonder how this affects the Ukraine war.” I responded to him as follows: “Big unknown indeed. Kiev may be worried. But they could pick Liz Truss who may even send British soldiers to Ukraine….She is the toughest woman in UK. If they make her PM, Margaret Thatcher’s era may look weak.” (Follow the conversation here ).

When Boris resigned, I scanned the whole United Kingdom and the only leader I felt was possibly going to become the new Prime Minister was Ms Truss. I had dropped her as the new potential new Prime Minister. British politics is highly predictable as they elect for the “moment”. What that means is that they look for the leader who can solve the immediate challenges they face!

Boris Johnson became the PM because they felt he was going to get Brexit done. Right now,  one of the main challenges facing the UK is how to resolve the Russian conflict with Ukraine. Sure, it is not a direct confrontation with the UK but if you go back to the imperial age when Britain used to level kingdoms, the country feels lost that it cannot do much to stop Russia. But in that powerlessness, Ms Truss, the foreign secretary, has come out bold and ferocious.

Today, the final two contenders for the PM post are Rishi Sunak and Liz Truss. The 160,000 party members will now vote in the next coming weeks to elect the next prime minister. Her premiership will bring urgency in the conflict in Ukraine. But yet, the UK does not have the might to really do much despite big talks. The Great Britain which used to annihilate kingdoms and colonized them is a shadow of itself but Ms Truss will ensure that the West does not forget Ukraine really fast, even in a hot summer or cold winter.

Yet,  I must acknowledge that Rishi is a strong candidate. With inflation rising and economic challenges heating up, those 160,000 party members could decide to forget geopolitics for family moments and grocery budgets. Except a close race.

Boris Johnson will be succeeded as prime minister of the United Kingdom by either Rishi Sunak or Liz Truss after the Conservative Party leadership race was on Wednesday narrowed down to the final two candidates.

Johnson resigned as party leader earlier this month after a series of scandals led to dozens of ministerial resignations. Ten Conservatives stood in the contest to replace him, and over five rounds of voting, members of parliament whittled those down to two.
Sunak won 137 votes and Truss got 113 votes in the final round, while Penny Mordaunt with 105 votes lost out.
Now about 160,000 rank-and-file members of the party will have their say, and in September the winner — and next prime minister — will be announced.

Comment on LinkedIn Feed

Comment 1: The UK requires highly sophisticated PM with deep insight in geopolitical games to help shape the world positively in these turbulent times. While dealing with Russia-Russia conflict is an immediate challenge, the shifting geopolitical balance towards east requires accurately measured and thought leadership. In my view, Rishi should be a better pick than Truss

My Response 1: Fair – we will see. Russia has shown that economic resilience is the battle of the 21st century. So, the UK may even be looking for who can secure that economic future as India and China rise. If that is the case, Rishi wins.

Comment 2: I will play the devil’s advocate here. I prefer her to Rishi because the once powerful vibrant voice is increasingly loosening her vibrance on the international scene. The last time, to my knowledge, that voice vibrated globally was Blair’s era. I hope, however, she will not step on the same banana peel that Theresa and Boris fell on —out of favor and flavors!

My Response 2: Empires rise and fall due to the economy. Today, many in Washington DC respect the governor of Russia’s central bank for two amazing playbooks she engineered hours after the first sanction came. She saved that economy.  The power of Britain comes from its economy. Recently, it is withdrawing. Unfortunately, geopolitics does not allow vacuum: when you cut that child aid to Mali, China replaces it and next time, you become a stranger.

 It is not about big talk – it’s about “can you write the cheques”.  The neutral state of Africa on Russia-Ukraine war is because the West has no leverage on the continent. If China is EU, they would have sided with China…you need the next loan to finance corruption and waste.

 

From NNPC to NNPC Limited; Expect NNPC Plc by 2030 in Nigeria

By
Ndubuisi Ekekwe
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0

As we congratulate Mr. President for the transmutation from Nigerian National Petroleum Corporation (NNPC) to NNPC Limited, I want to share a piece I wrote in 2017 where I made a case that we should even go beyond NNPC Limited to NNPC Plc. Certainly, Buhari’s regime will not do that because of time. Nonetheless, I expect NNPC to become a publicly traded company by 2030 in Nigeria. This was my conclusion in the 2017 piece:

‘NNPC is not Transcorp which killed the dreams of many investors when it tanked in the Nigerian Stock Exchange. Transcorp, unlike NNPC, did not have any asset when it started. It was a business people invested based on promises and expectations. But NNPC has one of the best assets in continental Africa. NNPC is Nigeria and it generates products which are exported around the world. It is a rainmaker, generating more than 80% of Nigeria’s foreign exchange.

‘ A listed NNPC will be massively (globally) oversubscribed and will drive huge capital accumulation in Nigeria. It will be a moment of glory. But yet, more money has never improved Nigeria. So “selling” NNPC to the market may not change anything in the long-term. That is the most unfortunate thing about Nigeria, and the reason why NNPC Staff, the Labour Union and students will say “HELL NO, DO NOT DO IT”.’

NNPC Plc – Nigeria Should Take NNPC Public To Boost Transparency

Mr. President, Nice Job on NNPC Limited. Now, NNPC Plc

By
Ndubuisi Ekekwe
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1

Let me commend President Buhari for getting the job done on NNPC. Yes, Nigerian National Petroleum Corporation (NNPC) is now a commercial venture – a limited liability company, limited by shares – and not just an amorphous gigantic conglomerate. Welcome NNPC Limited.

Yet, there is really nothing to write since changing name, corporate formation, etc,  will not change some of the underperforming elements. We still have to improve productivity and deepen innovation in the nation’s top foreign exchange earner.  

Those changes must be done for us to unlock the latent opportunities within that company. I did three internships in NNPC and enjoyed the benefits of learning under some of the finest engineers in our nation. The first time I touched a computer was in NNPC – NGC, Moscow Rd in PHC – and the first time I changed an instrumentation and control knob was in Owasa Gas flow station.

As I wrote in 2017 when I posited that Nigeria should go all the way with NNPC Plc, I want Mr. President to take this to the Nigerian Stock Exchange. Of course, I did note the challenges that would bring, but we have to go all the way: “Nigerian can get a valuation of $300 billion for NNPC Plc”. Read more on my case for NNPC Plc.

NNPC Plc – Nigeria Should Take NNPC Public To Boost Transparency

Why Businesses Are Now Embracing The Buy Now Pay Later Trend

By
Ojukwu Emmanuel
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1

Buy now pay later (BNPL) is essentially a payment method where customers pay an initial deposit for goods or services, followed by weekly or monthly installment-based payment.

BNPL has been described as one of the fastest growing alternative methods of payment, with the ability to bring consumers closer to goods and services they desire. It has been poised for tremendous growth in the future as more businesses begin to offer the service.

A new report forecasts that Buy Now Pay Later will account for $438 billion of global e-commerce transactions by 2025, as it becomes the fastest growing e-commerce payment method in markets like the U.K, U.S, India, and Brazil.

The concept of Buy Now Pay Later (BNPL), has existed for a long time where consumers purchase goods/services by making a deposit of initial payment, and subsequently pay the rest in installments.

However, BNPL has been transformed into the digital space, where a lot of Fintech and e-commerce companies now offer consumers the option of the Buy Now Pay Later payment method.

Why Businesses Are Embracing The BNPL Trend

BNPL has no doubt gained widespread adoption among companies across the globe, as this payment method offers an easy-to-use delayed payback option to consumers who may or may not have the total funds readily available.

As a result, BNPL helps to increase the order values and volumes for companies. It allows consumers to obtain an item whenever they need it, without having to strain their finances.

The payment method has also been attributed to the increase in sales, which often decreases the number of abandoned carts on an e-commerce platform. Reports reveal that Gen Z and Millenials are especially interested in the BNPL.

Almost 75% of BNPL users in the U.S are either Gen Z or millennials. One major draw of the BNPL services particularly for the younger folks (Gen Z) is the financial flexibility it provides. The payment method provides younger consumers whose cash flow is often limited, with greater flexibility in payments.

Increased sales revenue is also one of the biggest advantages why companies are offering the buy now pay later payment method. By splitting up the payments for goods/services, it tends to make the product more affordable to a larger audience.

Further, because the payments are split into smaller installments, the overall cost seems more manageable by consumers, which makes them more receptive to add-ons and upsells at checkout.

Customers seem not to worry when a good is quite expensive, provided they can pay in installments, which they believe will not put a strain on their finances. It has been disclosed that when companies offer BNPL, it provides for a better customer experience, as consumers are happiest when they have control over their purchasing power.

It gives them the confidence to purchase something way more expensive than their income. Here is the catch, for instance, if a TV set on an e-commerce site is sold for N150,000, a consumer might be interested but not have the full amount of money available, without the company offering a BNPL payment method, such a customer will likely not be interested in going further to purchase the TV set.

But with a BNPL, where a customer can make an installment payment of N15,000 per month, for the same TV set, it becomes easily digestible for the consumer and drives more purchases from other consumers.

Now looking at the current inflation rate that is ravaging the economy of nations, it has no doubt negatively reduced the disposable income of a lot of households across the globe.

Most people during this current inflation period will embrace the BNPL, as it will be convenient for them because a large percentage of them do not possess the immediate cash outlay for payment of goods/services.

BNPL has become a trend of adoption by businesses as it no doubt gives them a competitive advantage as customers are likely to return to businesses that offer BNPL payment options. The buy now pay later is gradually becoming widely adopted among businesses and is likely not going away any time soon.

Electoral Defeat and Your Mental Health in Nigeria

By
Mutiu Iyanda
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0

Election is one of the aspects that establishes a democratic form of governance. Some members of an institution (society or organization) will make themselves accessible as contenders or candidates before executing it as a stage toward establishing representative leadership. They are expected to engage other members by explaining their agenda for the welfare of everybody.

In Nigeria, politicians, political parties, and supporters typically engage in campaign activities for a period of days in order to promote the party’s program and candidates’ attributes to the electorate. Since the country’s restoration to democratic rule in 1999, campaign times have been routinely contentious because actors prioritize negative campaign tactics. The actors have long believed that engaging in smear campaigns delivers greater electoral value (votes) than relying solely on positive techniques such as downplaying opponents’ shortcomings.

Sadness, rage, and weariness are the most frequent symptoms of depression that actors may face as a result of smear campaigns during the campaign season. The extent to which these and other mental health symptoms appear after an election varies on whether you are a winner or a loser. Our analyst observes that candidates, members of their parties, and supporters are more likely to have these symptoms after the election if they are in the loss zone. The actors who won the election and endured symptoms throughout the campaign time as a result of the smear campaign are expected to be compensated with happiness in order to recover quickly from their prior low mental state.

Coping Strategies

Losers and their supporters, according to mental health professionals and numerous studies on election failure and mental health, need to examine personal and social solutions for overcoming emerging depressive symptoms. The first priority should be to improve physical health stability. This is required since the body has been exhausted throughout campaign activities, and continuing to expose the body to improper feeding and surroundings would be disastrous. In other words, you must replenish your energy by engaging in feeding activities that have a high potential for improving your energy as well as remaining in locations and buildings that do not have toxic infrastructure syndrome.

One method to exacerbate your mental health problems after the election is to continue using social media and ingesting bad news articles from traditional media. Because you and your candidates were heavily involved in smear campaigns, there is a considerable likelihood that the individuals and entities you and others attacked would bring up those memories, using them against you in order to increase your depressed mood.

As a result, avoid social media and limit your news consumption for a few days. While you are away from social media and reading less news information, you should utilize the time to speak with trustworthy members of your family, friends, and community leaders who share the same vision and philosophy as you and your candidates.

Early acceptance of loss as a democratic principle will aid in speedy rehabilitation. If you are a member of your candidate’s political party or a direct supporter, you must immediately begin engaging in activities that will link you more with the people who voted against you. They are likely to halt further aggressive offensive information dissemination or conversation about you on social media and/or through interpersonal contact channels. This will also contribute to favourable media coverage, which will help restore voters’ lost faith.

 

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