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Philips Consulting CEO’s Report exposes real estate industry’s worst fears

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About 84 per cent of chief executive officers in Nigeria have agreed that the real estate industry in Nigeria is plagued due to the pandemic, especially, companies in the business of office rentals. This revelation is contained in the recently published CEO Report, a Philips Consulting initiative for 100 Nigerian business leaders.

The pcl. CEO Report further stated that 83percent and 55 percent of CEOs have adopted a ‘Work From Home Strategy’ and ‘Standby Model Strategy’ respectively, and are beginning to question the need for large office spaces.

“Only 46 per cent CEOs are considering retaining their current offices, while others will seek smaller and cheaper offices, shared offices, or adopt an entirely virtual working model,” added the Report.

 In commercial cities like Lagos where massive high-rise office complexes are commonplace, real estate players must be ready for a shift in demand. They might be forced to repurpose their buildings or provide new services to suit the new mode of work, the Report recommended.

The pcl. survey that recently engaged 100 Nigeria business leaders on the current economic landscape and presented the insights in its “CEO Report” said, “One word that best describes today’s business environment is “uncertain”. The ‘new normal’ occasioned by the effects of the Coronavirus pandemic is gradually fading away and being replaced by what is termed the ‘next normal’.

Amidst the frenzy of realigning strategies to better position businesses for recovery after the pandemic, the Philips Consulting’s CEO, Rob Taiwo mentioned that “We have been hit with the harsh reality that the Coronavirus might be here to stay. There is no going back to normal; instead, we have a next normal that is unpredictable.”

He said, the conversation to be had now is how to prepare for a future full of unknowns. 

Speaking on which industries benefit from the crisis, Taiwo, a transformational leader said, “Globally, the IT sector experienced a surge in the wake of the pandemic, as a result of the shift to remote working. This resulted in a heavy reliance (or dependence) on IT products for both personal and business purposes. 

Nigeria is no exception, he stated, “From our survey, 86 per cent of CEOs reported that the pandemic led to them improving the IT infrastructure of their organizations. Our respondents predict that Nigeria’s healthcare, agribusiness, and manufacturing industries stand to benefit from the next normal.”

“They expect the professional services industry to experience comparatively minimal disruption. This is primarily due to their vast array of services, relatively low operational expense, lean and agile business model, and legacy clients.”

On the levels of preparedness for the pandemic, the Report said, only 6 per cent of CEOs reported that their organizations were prepared for the pandemic. Hence, it comes as no surprise that 55 per cent of Nigerian businesses are currently operating below 50 per cent of their operating capacity.

The 6 per cent mentioned above stated a strong leadership team as the most critical factor of their preparedness. Other important factors include having a robust business continuity plan, government support, and a well-articulated business strategy.

On forging ahead into the next normal,  the CEOs Report revealed that 57 per cent of CEOs expect that the earliest possible time for the business environment in Nigeria to normalize will be August 2021.

CEOs are increasingly taking responsibility for their companies, and are not necessarily looking up to the government for solutions to the problems occasioned by the pandemic. As against the 79 per cent of CEOs that voted in the 2019 general elections, only 67 per cent of CEOs reported that the pandemic would make them more interested in the outcome of the 2023 election.

Taiwo said, “Results from our survey showed that the Nigerian government and business leaders should pay close attention to the post-COVID19 policies and strategies of the United Kingdom, China, and the United States of America as these will have the most profound impact on the Nigerian business environment.

“At pcl., we are committed to working with our clients and partners to build and develop people’s capabilities, technology systems and processes, effective and robust strategies, and business continuity plans. Let us work with you to future proof your business in the next normal.”

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Oleksandr Usyk Defeats Tyson Fury Again, Solidifies Legacy Among Boxing Greats

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Oleksandr Usyk Defeats Tyson Fury Again, Solidifies Legacy Among Boxing Greats

Oleksandr Usyk Defeats Tyson Fury Again, Solidifies Legacy Among Boxing Greats

Ukrainian boxing sensation Oleksandr Usyk retained his heavyweight championship titles and cemented his place in boxing history with a unanimous decision victory over Britain’s Tyson Fury in their rematch on Saturday night.

The judges scored the bout 116-112 in Usyk’s favor across the board, marking his second consecutive win over Fury. This victory extended Usyk’s flawless professional record to 23-0, with 14 knockouts, adding another chapter to a career already highlighted by Olympic gold and an undisputed cruiserweight championship.

A Masterclass Performance

Usyk, 37, showcased his signature precision and relentless pace, repeatedly catching Fury with clean left hooks and dominating the latter stages of the fight. Fury, at 6ft 9in (206cm) and weighing a career-high 281 pounds, attempted to impose his physicality but was unable to break Usyk’s composure.

The fight, held in Saudi Arabia, saw Usyk wearing traditional Cossack attire during his entrance, while Fury entered the arena dressed in a festive Santa-inspired robe to Mariah Carey’s “All I Want For Christmas Is You.”

The early rounds were competitive, with Fury landing powerful jabs and body shots. However, Usyk’s endurance and tactical brilliance began to shine in the middle rounds. The Ukrainian landed sharp combinations and dictated the tempo, including a stunning uppercut in the final round that left little doubt about the outcome.

“I thought I’ve won both fights,” Fury said post-match, sporting a bruised right eye. “But I’ll always believe until the day I die that I won that fight.”

A Legacy Sealed

Usyk’s victory solidified his standing as one of the greatest heavyweights in history. Already the first undisputed heavyweight of the four-belt era, Usyk joins the ranks of legends like Muhammad Ali, Joe Louis, and Mike Tyson.

The bout, reported to have a prize purse of $190 million, also underscored Saudi Arabia’s growing influence in global sports. Usyk, who served briefly as a soldier during Russia’s invasion of Ukraine, celebrated his victory by hoisting a symbolic sabre belonging to Ukrainian nationalist hero Ivan Mazepa.

Fury’s Uncertain Future

The defeat leaves Fury’s future in doubt. Once unbeaten across 35 fights, Fury now stands at 34-2-1. His attempt to reclaim glory after a brief retirement in 2022 has been marred by back-to-back losses to Usyk.

Usyk, on the other hand, continues to add to his already remarkable resume, leaving fans and critics alike in awe of his technical skill, resilience, and determination. As the heavyweight division looks ahead, Usyk’s reign appears unshakable, and his place among boxing’s all-time greats is firmly secured.

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Testimony Jaga Redefines Gospel Music with Fuji Rhapsody

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Testimony Jaga Redefines Gospel Music with Fuji Rhapsody

Renowned gospel artist Testimony Jaga has set a new standard in the genre with the release of his highly anticipated album, Fuji Rhapsody. This innovative project masterfully blends the electrifying rhythms of Fuji music with uplifting gospel messages, offering a unique and transformative musical experience.
With a runtime of approximately one hour, Fuji Rhapsody takes listeners on a continuous, spiritually enriching journey, brimming with energy and inspiration. The album is available for streaming on popular platforms, including Spotify, iTunes, Audiomack, Boomplay, and more.
Whether you’re a fan of vibrant Fuji beats or seeking soul-stirring gospel tunes, Fuji Rhapsody is an album that promises to inspire and uplift. Press play and let its powerful melodies rejuvenate your spirit today!
Stream Fuji Rhapsody Here:

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Governor Monday Okpebholo C.O.N Celebrates His Grace, Bishop Desmond Osazuwa, on His Birthday – December 21

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His Excellency Governor Monday Okpebholo C.O.N Celebrates His Grace, Bishop Desmond Osazuwa, on His Birthday – December 21

 

The Governor of Edo State, Senator Monday Okpebholo C.O.N., has extended warm birthday wishes to His Grace, Bishop Desmond Osazuwa Amasihohu, in recognition of his remarkable contributions to the state and his unwavering support during the Governor’s electoral victory.

In a heartfelt message, Governor Okpebholo expressed his profound admiration for Bishop Amasihohu, acknowledging his steadfast leadership, spiritual guidance, and commitment to the well-being of the people of Edo State.

“I am delighted to celebrate Bishop Desmond Osazuwa on his special day,” the Governor stated. “His tireless prayers and invaluable support during my election campaign played a significant role in our collective success. His dedication to the spiritual and physical growth of Edo State is a testament to his purposeful leadership and unwavering faith.”

Reflecting on the Bishop’s years of service, the Governor added, “On behalf of my family and the entire Edo State, I extend my heartfelt congratulations and best wishes to Bishop Desmond Amasihohu on his birthday. He is a true son of Edo, whose contributions continue to enrich our lives. Today, we celebrate not just his birthday but also his enduring impact on our state and beyond.”

Governor Okpebholo emphasized the importance of honoring individuals who dedicate their lives to service. “Recognizing Bishop Desmond Osazuwa aligns with our shared values of inclusivity, unity, and gratitude. His contributions to the spiritual and social fabric of Edo State are invaluable, and we are truly blessed to have him among us.”

Bishop Desmond Osazuwa Amasihohu has spent decades spreading the gospel and transforming lives both within Edo State and across the globe. His birthday celebration drew dignitaries, community leaders, and well-wishers who gathered to honor his life and legacy.

The occasion stands as a powerful reminder of the values of faith, service, and unity that guide the Governor’s vision for a stronger Edo State.

“Happy birthday, my Bishop,” Governor Okpebholo concluded. “Your wisdom and contributions to the development of our state are deeply appreciated. May the Lord Almighty bless you with good health, strength, and continued prosperity.”

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