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Fashola’s eureka moment at Lekki tollgate By Tunde Odesola

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STEALING PUBLIC TRUST . Premium Times’ Low Premium Reporting
Fashola’s eureka moment at Lekki tollgate By Tunde Odesola
Donkey’s years ago, before greed overtook leadership and snatched the reins of governance, Lagos was a free society without a tollgate.
Fashola’s eureka moment at Lekki tollgate By Tunde Odesola
Doubtlessly, the tollgate was a taboo in Lagos ages ago. This was in the days when history took culture under its wings together with language and tradition, forming a formidable foursome.
Fashola’s eureka moment at Lekki tollgate By Tunde Odesola
This was before government calamitously embarked on the journey to remove history from school curricula, deify foreign cultures, denigrate Nigerian languages and scorn tradition.
Fashola’s eureka moment at Lekki tollgate By Tunde Odesola
Nowadays, the four-pronged society preservers – history, culture, language and tradition – have been rendered as gaping as the four missing incisors in a mouth sentenced to pronouncing, “Surely, every thief stealing seashells by the Lagos seashore shall die by the sword at Tinubu Square.”
Fashola’s eureka moment at Lekki tollgate By Tunde Odesola
This pronunciation task is an impossibility for anyone without the incisors because the  incisors, what the Yoruba call ‘eyin faari’, are needed to pronounce dental sounds.
If you know Lagos very well, you will know its history, culture,  language and tradition. You will know the Eyo. If you know the Eyo, you should know the opambata, the aro and the agbada.
The opambata is the long, fearsome stalk of the palm tree wielded by the Eyo masquerader. The agbada is the white, overflowing regalia and the aro are the panegyrics of the Eyo.
Born at the Lagos Island Maternity Hospital and raised in Mushin, I memorised the ‘omo alagbada tolonga, tolonga’ Eyo panegyrics, a must-know chant among fellow youngsters back in the day.
That was a season when Lagos was sane, bold and unconquered. It was a time when Lagosians boastfully chanted the Eyo praisesong, recalling how their forebears’, in these tuneful lines, vowed never to pay toll at the boundary: “Eyo baba n’tawa, to nfi goolu se’re, awa o ni sanwo onibode, o di’le.”
But Lagosians now pay toll, to and fro, at the Lekki profit gate everyday. Even the Lagos State Governor, Babajide Sanwo-Olu, a true Lagosian, can’t mobilise fellow Lagosians not to pay at the Lekki bondage, sorry, boundary gate. Iyen ma lewu. Odikwa risky. Baba-Baba mustn’t hear that.
I understand the encumbrances of serving and past Lagos governors. I know how gingerly former Lagos governor and incumbent Minister of Works and Housing, Babatunde Fashola, carries the burden of loyalty. But millions of Nigerians don’t. I’ll jog their memory.
When asked at a senate ministerial screening in 2015 about his view on loyalty, Fashola responded, “The concept of loyalty is a strange one. The real answer is that may our loyalties never be tested. I always pray that may my loyalty never be tested.”
He went ahead to narrate the story of two daughters who were unwilling to donate a kidney to their sick mom after the Lagos State government promised to send their mom abroad for transplant, stressing that he never wished his loyalty to be tested because no one knows the cost.
Fashola, at the intense screening, insisted that he had never been disloyal to any cause he has ever ‘signed on to’, stressing that, ‘no one can accuse me fairly of giving my word and going back on it’.
Fashola is fervently loyal, I know. He’s an unfrivolous Lagos poster boy who minds his business, plays his table tennis and smokes his cigarettes.
Fashola was loyal to his godfather, Asiwaju Bola Tinubu, first – as chief of staff and later as first term governor. During his second term as governor, his loyalty was seriously tested, and Fashola doesn’t like his loyalty to be tested.
Several days after Nigerian soldiers murdered many youth protesters at the Lekki tollgate plaza last month, Fashola visited the scene after it had been washed clean of innocent blood.
As he stepped out of his vehicle and made a solitary and determinable peregrination at the scene of the public execution, Fashola’s loyalty was on trial. But remember, he had warned that he doesn’t like his loyalty to be tested.
Fashola wore brown plain clothes underscoring the prevailing sombre mood. The plain clothes were also a foretaste of the breakthrough about to happen. He folded his hands behind his back like a wise man while his roving eyes scanned the drainage, road and tollgate pillars.
Like a prophet who takes the cue when his hour has come, Fashola looked up at the tollgate beacon and continued on his solitary mission…then his eureka moment unraveled in broad daylight when he suddenly discovered the crime-scene camcorder!
As he fetched a handy piece of cloth from inside his plain clothes, headlines for the next day’s newspapers probably flirted around his mind, “#ENDSARS: Fashola unearths secret camera,” “Fashola discovers breakthrough lead at Lekki,” “Detective Fashola!”
Brilliant people are gifted with anticipatory thinking. It’s possible that Fashola envisioned himself being swarmed by reporters after his earthquaking finding, falling over themselves in the bid to ask questions while he basked in smiles of triumphal accomplishment.
But killjoy Nigerians felt Fashola was acting a comedy. They weren’t grateful that Fashola didn’t act like the Greek polymath and inventor, Archimedes, who reportedly ran home naked from a public bath, shouting eureka! upon discovering an insight into volumetric displacement.
Shame on fault-finding Nigerians! They descended on Fashola and smeared his reputation on social media. If Nigerians accuse Fashola of owing his allegiance to the President, Major General Muhammadu Buhari (retd.), rather than to the Federal Republic of Nigeria, I’m sure they won’t be mistaken as to where the allegiance of the members of the Lagos State House of Assembly lies.
Perpetually in the news for wrong reasons such as staggering corruption allegations, the Lagos legislature is tethered to Tinubu, to whom members of the House publicly pledge their allegiance, always.
By now, former Nollywood actor-turned-lawmaker in Lagos, Desmond Elliot, must’ve seen how his foreign surname has been turned into a rhyme scheme of unprintable adjectives signifying stupidity.
Employing dishonest reasoning, Elliot drew the ire of Nigerians when he called the Lekki protesters ‘children’, warning the Speaker, Mudashiru Obasa, about the need for an urgent clampdown on Nigerians using social media users to demand better governance.
Elliot wasn’t outraged about the merciless killings of innocent youths by Nigerian soldiers at the Lekki tollgate, but was scandalised that protesters, in reaction to the killings, could storm the palace of the Oba of Lagos, Rilwan Akiolu, and seize the fleeing king’s staff of office.
Because Elliot must please the gods, he boomed, “When I went through the comments I could not believe it (sic); the curses, the abuses from children, and I asked myself, ‘Is this Nigeria? What is going on?’ Culture is gone!.., Mr Speaker, in the next five years, there will be no Nigeria if we don’t start now!
Start what kwanu? Start a fresh orgy of killings? Elliot’s statement was one of the most horrendous vituperations against the memory of those who lost their lives in the Lekki peaceful protest. The way he feigned annoyance and laboured to string passable sentences in the weirdest accent was dishonorable.
Without living in the Tabon-Tabon area of Agege, the phonetics-speaking Elliot even fired a couple of Chief Zebrudaya bullets, among others. Hear him, “The youth is (sic) not only those who do the peaceful protest!”
Reacting to the fallout of the state-induced riots that greeted the Lekki killings, a colleague of Elliot in the legislature, Mojisola Alli-Macaulay, said most Nigerian youths are on drugs, most of the time. What!?
Alli-Macaulay is a member of the current ninth Assembly that pardoned former Lagos Deputy governor, Femi Pedro, and restored all his outrageous privileges to him while Pedro’s predecessor, Kofoworola Akerele-Bucknor, who committed no offence as Pedro never got her privileges restored.
Shamefully, Alli-Macaulay is a member of a House whose Speaker has a yoke of corruption allegation hanging at his neck.
Which one is it better to be, a drug addict or a chained Assembly?
Email: tundeodes2003@yahoo.com
Facebook: @tunde odesola
Twitter: @tunde_odesola

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Why Businesses Fail in South Africa. By Ekos Akpokabayen

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Why Businesses Fail in South Africa.
By Ekos Akpokabayen

 

South Africa, like many emerging markets, experiences a high rate of business failure, particularly among small and medium-sized enterprises (SMEs). Statistics from the Small Enterprise Development Agency (SEDA) and the Global Entrepreneurship Monitor consistently reveal that over 70% of small businesses fail within the first two years of operation. This trend is concerning given that SMEs are vital contributors to economic growth, job creation, and innovation.

 

As a finance professional and Chief Investment Officer at Ovid Capita, I have closely observed the structural and operational challenges facing businesses in South Africa. Drawing from both analytical frameworks and on-the-ground experience, I will explore the critical reasons businesses fail and offer pragmatic advice to entrepreneurs aspiring to build resilient and sustainable enterprises.

 

1. Lack of Market Understanding and Strategic Positioning

One of the foundational causes of business failure is inadequate market research and poor strategic positioning. Too often, entrepreneurs are guided by passion, anecdotal evidence, or fleeting market trends rather than grounded, data-driven insights. While enthusiasm is essential, it must be paired with a thorough understanding of customer needs, behavioral patterns, and competitive dynamics.

A robust market analysis should answer essential questions: Who are our customers? What do they value? Who else is serving them, and how can we do better? Unfortunately, many business owners overestimate demand or misjudge pricing sensitivities, resulting in products or services that fail to gain traction.

To thrive, entrepreneurs must prioritize feasibility studies, competitive analysis, and customer validation exercises. Without this due diligence, they risk entering saturated markets, pricing incorrectly, or offering products with no long-term demand.

2. Weak Financial Management and Planning

Financial mismanagement remains one of the most persistent causes of business collapse. Many entrepreneurs lack fundamental financial literacy—unable to distinguish between profit and cash flow, or between gross margins and net income. This lack of understanding leads to poor decision-making, uncontrolled spending, and an inability to budget or forecast.

A successful business must implement sound accounting practices, establish clear financial controls, and adopt budgeting processes that align with strategic objectives. Entrepreneurs should leverage modern accounting software and, where possible, seek guidance from professional advisors or financial consultants.

Moreover, understanding unit economics—how much it costs to acquire a customer versus the lifetime value of that customer—is critical. Without these insights, even high-revenue businesses can fail if their cost structures are inefficient or unsustainable.

3. Cash Flow Constraints and Insufficient Capitalization
Cash flow—the lifeblood of any enterprise—is often misunderstood. Many business owners confuse profitability with liquidity, only to find themselves unable to cover operational expenses such as rent, payroll, or inventory.

This issue is compounded by a failure to raise capital at the right time. In South Africa’s volatile economic climate, unforeseen disruptions—such as load shedding, regulatory changes, or currency volatility—can quickly derail undercapitalized businesses.

Entrepreneurs must adopt a proactive approach to financial planning that accounts for seasonal fluctuations, delayed client payments, and potential economic shocks. Building a capital buffer and securing access to credit or investment capital can significantly increase a business’s resilience.

4. Underestimating the Competitive Landscape
South Africa’s business environment is dynamic and competitive. Many new entrants mistakenly believe their offerings are unique or that existing competitors are unsophisticated. This assumption is often misguided.

Competitor analysis is not a one-time event—it should be an ongoing process. Understanding the pricing models, service delivery mechanisms, customer retention strategies, and marketing approaches of competitors can offer valuable insights for differentiation and strategic agility.

Those who ignore competition risk being undercut on price, outpaced in innovation, or simply forgotten by consumers in a saturated market.

5. Inexperience in Hiring and Managing Talent
Even the most innovative ideas require strong execution—and that depends heavily on people. Unfortunately, many entrepreneurs lack experience in human resource management. Hiring based on convenience, cost, or personal relationships instead of merit and cultural fit can lead to operational inefficiencies and internal discord.

Effective recruitment is not just about filling roles; it’s about building a team that shares the vision, values, and ambition of the enterprise. Furthermore, poor leadership, lack of delegation, and micro-management often demotivate high-performing employees, leading to high turnover and loss of institutional knowledge.

Investing in people—through careful recruitment, team building, and leadership development—is essential to business sustainability.

6. Neglect of Employee Training and Development
In a fast-evolving economic landscape, businesses must constantly adapt to changes in technology, consumer behavior, and regulatory frameworks. Yet, employee training is often seen as a cost rather than an investment.

This mindset is dangerous. Inadequately trained staff can negatively impact customer satisfaction, productivity, and compliance. Conversely, continuous professional development fosters innovation, efficiency, and loyalty.

Entrepreneurs must create a culture of learning. This can be done through formal training programs, peer learning, mentorship initiatives, and access to industry certifications. Knowledge is a competitive advantage—and businesses that invest in human capital tend to outperform their peers.

7. Failure to Build Strategic Networks and Partnerships
In South Africa, many entrepreneurs operate in isolation. They overlook the value of business networks, industry associations, and collaborative ecosystems. However, successful businesses are rarely built in a vacuum.

Networking provides access to partnerships, funding opportunities, mentorship, and market intelligence. Engaging with other business owners, attending industry conferences, or joining business chambers can open doors that would otherwise remain closed.

Moreover, strategic alliances—whether for distribution, marketing, or product development—can reduce costs, increase market reach, and accelerate growth.

Conclusion: From Vulnerability to Viability
The entrepreneurial journey in South Africa is not for the faint-hearted. The economic landscape presents both opportunities and obstacles, and while many businesses begin with promise, too few survive long enough to reach their full potential.

To reverse this trend, entrepreneurs must shift from reactive to strategic thinking. They must invest time in market research, build solid financial foundations, plan for cash flow disruptions, and hire with intentionality. Furthermore, cultivating talent, embracing lifelong learning, and fostering collaborative relationships can significantly enhance business longevity.

At Ovid Capita, we advocate for an integrated approach to entrepreneurship—one that combines passion with planning, and innovation with execution. With the right guidance, tools, and mindset, South African entrepreneurs can overcome the systemic barriers that currently hinder SME growth and unlock the full potential of their ventures.

By addressing these avoidable pitfalls and embracing best practices, we can build a stronger, more inclusive, and sustainable business ecosystem that not only drives economic transformation but also uplifts communities across the country.

Ekos Akpokabayen has an MSc in Finance, and also the Chief Investment Officer at
Ovid Capita

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From Giant to Beggar: The Tragic Collapse of Nigeria Under APC Rule

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From Giant to Beggar: The Tragic Collapse of Nigeria Under APC Rule

 

By George Omagbemi Sylvester

 

Once hailed as the “Giant of Africa,” Nigeria now limps on broken legs — economically battered, politically rudderless, and morally bankrupt. It is no longer just the brain drain that should worry us; it is the soul drain. Nigerians — students, professionals, entire families — are fleeing not just to Europe or North America, but to Ghana, a nation we once dismissed as “small brother.” This is not just ironic. It is humiliating. And it is a direct consequence of the All Progressives Congress (APC) taking power in 2015.

 

From Giant to Beggar: The Tragic Collapse of Nigeria Under APC Rule

 

The APC’s takeover, starting with President Muhammadu Buhari in 2015, marked the beginning of a free-fall. What followed was a decade of despair, capped now by President Bola Ahmed Tinubu — another APC patriarch — who has inherited and worsened the crisis. The result? Every airport terminal has become a departure lounge for the talented, the young, and the fed up.

 

From Giant to Beggar: The Tragic Collapse of Nigeria Under APC Rule

 

A Decade of Despair: From Buhari

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Pro-democracy group tells Tinubu to declare a state of emergency in Zamfara over insecurity, political repression

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Pro-democracy group tells Tinubu to declare state of emergency in Zamfara over insecurity, political repression

Pro-democracy group tells Tinubu to declare a state of emergency in Zamfara over insecurity, political repression

 

 

 

The United Democratic Coalition (UDC) has called on President Bola Tinubu to immediately declare a state of emergency in Zamfara, citing worsening insecurity and a breakdown of democratic order in the state.

 

Pro-democracy group tells Tinubu to declare state of emergency in Zamfara over insecurity, political repression

 

The demand was contained in a statement on Friday signed by Abdulrahman Danladi, president of the coalition.

 

Danladi described Zamfara as “a state under siege,” accusing the state government of abandoning its constitutional duty to protect lives and uphold democratic principles.

 

“The situation in Zamfara has gone from troubling to terrifying. Armed groups operate freely, citizens are at the mercy of bandits, and yet those elected to speak up are being silenced,” the statement read.

 

He was referring to the recent suspension of 10 lawmakers in the Zamfara State House of Assembly, whom he said were punished for raising concerns about insecurity and illegal mining in their constituencies.

 

“What we are witnessing is not just lawlessness — it is executive tyranny. These lawmakers were elected by the people and have a duty to speak out. Instead of listening to them, the state assembly, clearly acting on orders, has shut them down,” Danladi said.

 

He likened the political tension in Zamfara to the recent situation in Rivers state, where Governor Siminalayi Fubara governed with just four lawmakers after a split in the House of Assembly — a scenario that prompted calls for federal intervention.

 

“If Rivers with four lawmakers sparked talks of emergency rule, how is Zamfara with 10 suspended lawmakers and spiraling violence, not a national concern?” Danladi asked.

 

“The same standard must apply. Democracy is being murdered in Zamfara in broad daylight. If the federal government could consider intervening in Rivers, it must not turn a blind eye to the breakdown in Zamfara.”

 

“We are calling for a six-month state of emergency in Zamfara to allow security forces to take control, restore peace, and return the state to constitutional order.”

 

The group also demanded the immediate reinstatement of the suspended lawmakers and an investigation into what it called “executive interference” in the legislature.

 

“This is not the time for political correctness. It is the time for leadership. The people of Zamfara are under siege — both by bandits and by those who should be protecting them,” the statement added.

 

Zamfara, one of Nigeria’s most troubled states, continues to face persistent attacks from armed groups, with thousands displaced and dozens killed in the past year alone.

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