Economy
How Startups Can Conduct Business Pitching for Solid Closing
By Emmanuel Otori
What does pitching in business entail?
In business, pitching means presenting company concepts to another person. As an illustration, you might introduce your fledgling company to possible investors or your items to prospective clients.
To get buy-in, a business pitch must clearly explain your strategy or objectives to the audience. Your goods and business are the subjects of your pitch. Beginning to share your concept is never too early. You must always be prepared to make a pitch in order to impress or excite people about your company. Pitches are target-based to either investors or customers.
A pitch is a speech intended to persuade an audience or listener to take a certain action. The idea of your speech dictates the purpose of your pitch and the likely outcome to anticipate, so the following reasons for a pitch are provided: to attract early adopters who will use your service, to attract investors, and partners who can help you grow your company, request a reasonable sum based on maturity and the stage of your startup.
Kinds of Pitch
Today, it is not uncommon that investors lack the patience and time to listen to traditional pitches where you reel off all the benefits of your product and then make a “great deal” to close.
One-word Pitch: It is important that a word reflects your brand. It is a keyword that summarizes the concept of your product or business. The elements of your brand can stimulate that word that becomes a key of clarity to a first-time hearer. This keyword is often coined from the mission/vision, goals, unique point or even the solution offered.
Elevator Pitch: This is your go-to pitch for networking events, social media, and elevator rides with potential clients. Every salesperson is expected to carry around a pitch like this. Within 30 to 60 seconds, the fundamentals of your product and company are discussed. You risk boring your listener whenever you’re outside. In your speech, you should focus more on why you give a particular solution than what solution you propose. This presents the concept of your product and company in a more persuasive manner.
Investor Pitch: Here is a speech that describes the issues you hope to address as part of your investor pitch. You should not use industry jargon when presenting; it is exclusively for your pitch deck. In an investor pitch, you describe what you do, the level of business maturity, the size of the market, and your partners. If you can create a large company, investors will be interested.
Customer Pitch: The customer pitch is that, in contrast to investors, customers are looking for the problems that your product and business can help them with. Get them to talk more about the issue than you do, and only then can you determine what the appropriate remedy is. Presentations can contain industry terminologies because it is considered that the audience is aware of the market.
Follow-up Pitch: Here’s a reminder of a concept you’ve already pitched to a listener who hasn’t yet lived up to your expectations. This needs to be handled respectfully and with courtesy. A postal pitch or a cold phone pitch can be used to follow up with an investor or a client.
Presenting a Pitch
Firstly, when giving a pitch, begin with a short, friendly introduction and a memorable slogan to pique the audience’s interest. Note that you should keep your opening slide up longer as your investors’ attention is filtered by it.
Next, in an investor pitch, you would continue by discussing a problem your business or idea addresses; whereas, in a customer pitch, you would allow the customer to explain their issue. Make up a story to raise thoughts, and then use the pertinent data and facts to persuade or convince them of the issue. Taking a moment will help your pitch’s dramatic impact.
Furthermore, explain your approach to the audience, outlining how your concept functions and how you have tested it to support it. Use visuals to show how your product or service looks in an investor pitch. These could be videos, images, or screenshots. Keep in mind, that businesses are not without rivals, but your special selling point offers you an advantage in convincing your listener that your solution is the best one.
Moreover, when making a pitch to an investor, describe your business model to demonstrate that you have a sound strategy for generating income. Your traction is a crucial component of your pitch because it details your past successes. Telling your investor how you intend to expand goes a step further. This demonstrates your maturity and where you see your firm going in terms of attracting customers.
Conclusion
You definitely do not want to have a fantastic product or idea but waste your opportunity to close by being unprepared. Before presenting to a prospective investor or consumer, it is critical that you assess your level of readiness in a few actions.
➢ Examine your pitch pattern to make sure it lives up to your expectations.
➢ Be sure to sound assured.
➢ Pitch-matching with a note is improper.
➢ Your pitch should be memorized and practised.
➢ Be mindful of your time and focus just on keywords in your pitch.
➢ Have brief versions of your pitch.
➢ Pair your story with a visual document called a pitch deck which you deliver while pitching.
In your pitch session, you should sell your problem in ways that are evident or set by the consumer to avoid promoting a remedy in your pitch without first detailing the problem, or at least its significance.
By Adedapo Adesanya
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has hailed the Federal Executive Council (FEC) for approving the continuation of the Naira-for-Crude policy, expressing optimism that the initiative, alongside the recent decline in global crude oil prices, will lead to a reduction in the cost of petroleum products in Nigeria.
Recall that the federal government recently confirmed that the Naira-for-Crude initiative with Dangote and other domestic refineries would continue to be implemented.
According to the federal ministry of finance, the stakeholders have reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the FEC.
The Naira-for-Crude policy allows local refineries, such as the Dangote Refinery, to purchase crude oil in Naira rather than US dollars. The move is aimed at strengthening Nigeria’s local refining capacity, enhancing energy security, and easing pressure on the foreign exchange market.
In a reaction to the development, PETROAN National President, Mr Billy Gillis Harry, commended President Bola Tinubu and key sectoral leaders for championing policies that prioritize affordability and price stability in Nigeria’s downstream sector.
“We commend the President, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, the Minister of Finance, Mr. Wale Edun, and the CEOs of NMDPRA and NUPRC for championing this bold step. This is a strategic move towards making fuel more affordable and insulating the Nigerian economy from global oil price shocks,” he stated.
The group further noted that the recent dip in international crude oil prices—caused by a mix of weakening global demand, economic slowdowns, and increased output from producers not under the Organisation of the Petroleum Exporting Countries (OPEC)—should translate into lower domestic fuel prices, especially with the Naira-for-Crude policy in effect.
“With local refineries now sourcing crude in Naira, the cost of production is expected to drop significantly. We believe this will be reflected in pump prices, allowing Nigerians to feel the benefits of falling global oil prices,” the association disclosed, linking the global price slump to geopolitical and economic shifts.
“The recession in major economies and reciprocal tariffs from President Trump’s administration have slowed global demand. This, combined with overproduction, has led to a supply glut,” it said.
“The Federal Executive Council has directed full implementation of the policy as part of efforts to strengthen local refining, reduce foreign exchange dependency, and stabilize the downstream petroleum sector.
“PETROAN’s optimism is rooted in the belief that Nigeria, by refining its own crude, can break free from the volatility of international markets and pass on cost savings to consumers.
“We are confident that this policy will help Nigeria achieve energy independence and greater price stability. We eagerly await its full rollout and encourage swift action to make the benefits felt across the country.”
By Adedapo Adesanya
The Africa Export-Import Bank (Afreximbank) has projected a 4 per cent real Gross Domestic Product (GDP) growth for Africa in 2025 amid global economic fragility.
This forecast was contained in the 2025 African Trade and Economic Outlook (ATEO) Report carried out by the Cairo-based lender, which noted that Africa’s real GDP could reach 4.1 per cent in 2026 and 4.2 per cent in 2027.
The 2025 African Trade and Economic Outlook (ATEO) provides an in-depth analysis of Africa’s economic and trade performance, projecting the continent’s growth trajectory in the short-to- medium term.
It highlights the key macroeconomic and trade developments shaping Africa’s recovery, detailing opportunities for sustainable growth amid heightening global and domestic uncertainties.
The 2025 ATEO report said 41 per cent of African economies were projected to grow by at least five per cent, nearly double the global rate of 21 per cent, reflecting the continent’s expanding role as a driver of global growth.
According to the report, Africa’s gradual recovery would be supported by increased global demand for African exports, the disinflation trend, and the implementation of structural reforms to diversify African economies
The report said the were downside risks to the African economic outlook, including rising geopolitical tensions and fluctuating commodity prices.
“Economic slowdown in the United States and China may also impact the international financial conditions and the demand for African resources.
“Internal conflicts and climate change threaten stability and growth.”
However, the report said potential upside risks include the anticipated decline in global interest rates, which would begin in 2025 if geopolitical uncertainty remained unchanged, potentially enhancing access to financing.
“Additionally, the African Continental Free Trade Area (AfCFTA) presents an opportunity to boost economic integration and intra-African trade, reducing vulnerability to external shocks in the medium term.”
To address potential downside risks, the report suggests several short-term strategies which include adopting a nuanced and proactive monetary policy stance, and enhancing resilience against climate-related and geopolitical disruptions.
Other strategies include boosting domestic consumption alongside the service sector and accelerating the implementation of the AfCFTA agreement.
In the medium term, the report said strategies should shift toward economic diversification through strategic investments in human capital development and workforce training within key emerging sectors.
“Additionally, efforts should be made to improve economic governance, public infrastructure, and initiatives to strengthen intra-African trade dynamics.”
The report highlighted several challenges and solutions for Africa to attain stability and sustainable development amid a rapidly uncertain global landscape.
The first challenge identified was Africa’s reliance on commodity exports which had made countries vulnerable to fluctuations in world commodity prices.
“To reduce their exposure to these price fluctuations, it is crucial to accelerate the structural shift to a more diversified and resilient economy.”
The second challenge identified was debt sustainability, with the report stating that several African countries allocate over 50 per cent of their revenues to debt servicing, due to their large development financing needs.
“Ensuring debt sustainability requires more efficient public spending and prioritisation of growth-oriented investment projects.”
The report said the third challenge involved human capital and skill development.
To tackle this challenge, the report suggests that governments should invest more resources to improve healthcare and promote collaboration between the public and private sectors.
“ Strengthening training in sciences and technology facilitates skill development and talent allocation, which is essential for successful structural transformation.”
It said the fourth challenge was the weak social outcomes of economic growth in Africa caused by slow progress in poverty reduction.
“To boost poverty-reducing potential growth, improving the provision of basic public infrastructure and services is vital, reducing dependency on natural resources through structural transformation.
“Addressing inequalities must be an integral part of sustainable development goals, ensuring equitable access to quality education, healthcare, energy, transport infrastructure, and financial services.”
The final challenge identified in the report was the growing concerns about environmental degradation and the increasing frequency of extreme weather events.
“For sustainable economic development, promotion of green growth must align with comprehensive policy frameworks that address climate change adaptation and mitigation strategies, while recognizing continental development needs and challenges.”
The 2025 ATEO provides an in-depth analysis of Africa’s economic and trade performance, projecting the continent’s growth trajectory in the short-to-medium term.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited came under pressure on Friday, staggering by 0.21 per cent at the close of trading activities.
Investors embarked on profit-taking yesterday, particularly in the energy and industrial goods sectors, which closed lower by 0.43 per cent and 0.06 per cent, respectively.
The gains reported by the others could not extend the stay of Customs Street in the positive territory yesterday.
Data showed that the insurance counter closed higher by 2.07 per cent, and the banking space improved by 0.55 per cent, while the consumer goods and commodity indices closed flat.
When the closing gong was struck by 2:30 pm, the All-Share Index (ASI) was down by 224.91 points to 104,563.34 points from 104,788.25 points and the market capitalisation contracted by N141 billion to N65.707 trillion from N65.848 trillion.
Deap Capital lost 9.71 per cent to trade at 93 Kobo, Royal Exchange crumbled by 9.09 per cent to 80 Kobo, Sovereign Trust Insurance fell by 7.61 per cent to 85 Kobo, Guinea Insurance depreciated by 7.35 per cent to 63 Kobo, and Oando dwindled by 5.57 per cent to N39.00.
Conversely, Caverton jumped by 9.96 per cent to N2.54, VFD Group surged by 9.90 per cent to N87.70, Abbey Mortgage Bank gained 9.86 per cent to close at N6.13, FTN Cocoa advanced by 9.83 per cent to N1.90, and Regency Alliance rose by 9.43 per cent to 58 Kobo.
On Friday, investors traded 380.0 million equities worth N10.1 billion in 10,791 deals versus the 432.6 million equities valued at N9.7 billion transacted in 12,027 deals in the previous trading session, indicating an uptick in the value of transactions by 4.12 per cent and contractions in the volume of trades and the number of deals by 12.16 per cent and 10.28 per cent apiece.
Access Holdings retained its position as the most active equity with 73.2 million units sold for N1.5 billion, Zenith Bank exchanged 33.4 million units worth N1.7 billion, Cutix transacted 29.7 million units valued at N63.0 million, GTCO traded 25.7 million units worth N1.7 billion, and Fidelity Bank transacted 19.7 million units valued at N374.2 million.
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