Feature/OPED

For The Anxious CEO: Business Planning Tips for Any New Year

Published

8 years ago

01/01/2018

By ‘Muyiwa Osifuye

Just before a new financial year, many CEO or business owners may start becoming restless and apprehensive. You want to make effective business decisions for the New Year. You are not alone.

This is irrespective of whether your organization has posted good financials in the outgoing year or not. The bulk stops at your table for the next cycle of things. You should desire a more successful outcome of the expectant year.

I am going to take you through some basic steps you can take; to remove the cobweb of anxiety from your mind.

Of course, here, I am not talking about the “new year resolutions” yearly fad. Serious minded and realistic executives don’t have anything to do with that.

Spelling out new business goals must be close to being realizable and practical; that is what you want to achieve. And to a large extent, acceptable to all stakeholders.

As a business leader or the Chief Executive Officer, you know that you must put in place an effective strategy for the coming – financial year. (January of a new year is the most popular starting month but not necessarily so for some companies.)

Yours could be a multinational or a localized business. Or you could be the owner and manager of a solo effort of an enterprise – established to serve within your community. Decision making still boils down to clear insight of leadership into the future.

One of the many things that will be coming to your mind is how to do better than in the previous year. All shareholders, your team, workforce and the board look up to you for leadership, direction and execution.

And if yours is a big company, after all the dreary crisscrossing meetings, the buck still stops at your table. And you must come up with a fresh and an effective decision plan – at the twilight period of the outgoing year. And plans must be executed, once the new financial year starts to unfold.

So what are you thinking of now?

What are you going to do differently and better than the past?

How are you to make a further positive impact on your organizations?

These following thoughts may cross your mind:

You might be contemplating looking around for some “business decisions models”. The ones you can copy. Of course that won’t give you a unique solution.

You might also be looking around to see how other executives in your situation have done well for their corporation. But you will not be privy of the little details, as those are the secrets buried in such organizations.

And sadly, if you are quite egocentric, you might be looking around for information for your own selfish sake but not for the improved fortunes of your organization. Here, you could be daydreaming of the beaming smiles and applause you could get from your board and other stakeholders. That might become an illusion if your organization misses the mark of success ultimately.

At this crucial time, think about your organization first! That would be the way to go.

Here, I simply want you to open your mind to the power you have…residing inside of you.

You know your organization better and therefore you need to excuse your self-doubt if any. Suggestions from “guru” may not take you far. There is much more to your organization – those little nuances that you and no other person can know unless they are aware of these details.

Now, the question is, what is your mind telling you?

Agree we must learn from others but if you suffuse yourself with so much available information out there, you will most likely be overwhelmed. In effect, your strategic plans might be seriously flawed within the short time frame you have.

You simply need to be confident that you have most of the resources you need. The intellectual contribution from your smart senior executives including some junior ones can help.

Your vast experience would give you the confidence to make better business decisions yet again.

Accept that you can make things work and meet the expectations of the various stakeholders – within the organization and outside of it. And of course you must not lose focus on your shifting consumers’ needs, as the years rolled by.

You will know.

Why?

Because, being a dynamic soul and a hands-on Chief Executive; you have over the years learned the ropes. You have keenly observed both consciously – and otherwise – as you went through the ranks.

You have studied the past and gained relevant knowledge of your industry. All these varied experiences in play have coached your subconscious.

Your past failures, mistakes, ingenuity and successes are available to be tapped into. Only if you ask your inner-self.

I will admit; it is a painstaking exercise that needs a timeout; to sieve out and put things together properly. That’s what successful leaders are doing. That is the secret. There is no Superhuman CEO.

And remember your gut feeling which can override notions and researched outcomes.

Having cleared out your inner doubts, you can now proceed as follows.

Be ready to put pen to paper.

Before you do this; if your schedule could allow it as you prepare for another year, set aside a week or less to think through all issues in front of you.

Paint a total picture of varied influencing factors that must be addressed and utilized so that your organization and you can make a headway.

At this phase, you may jot down some points. Or leave the thoughts playing out in your mind for a while; nothing elaborate at this time, but they must eventually be written down when you are ready to come up with your own “business decision making” template.

You may give a shout-out to a few but trusty subordinates or whoever you safely think will give you an input to make a few adjustments. But remember the buck stops with you as the Chief Executive Officer or Managing Director. The final decision is your responsibility.

When the time is right and you are ready for the first draft, these thoughts will come back in torrents. Your mind is already turgid and so you write them down. Thereafter, you will smoothen all the rough edges. It will never be perfect. But let your plan be an informed decision and timely.

If this exercise is applicable to you, you will call up a meeting with your team or board to explain your direction for the New Year. If you don’t have anybody to report to, you’ll take the plunge yourself.

I can assure you, you will have ample confidence and sense of purpose displayed when you marshal your plans to your team.

Be mindful of the fact that there will be some advice from some board members. They could disagree on some issues but do take such into consideration. You may learn from them. And some inputs may not be useful since a few would speak, based on the spur of the moment.

You will have to convince them otherwise as you had ample time to think through these issues prior to the meeting.

I advise you to envisage many of such objections or additions when preparing your template.

Give room for the rabble-rousers. You may not ignore them all the time. Their contributions may be providential. Note their suggestions; but verify their submissions.

Be on your guard not to disregard everything in your earlier well thought-out plan while hearing out submissions from your team or board. Realize all business decisions are risks including these external suggestions.

So after the meeting, the buck stops at your table. Follow your notions and instinct and execute your adjusted decision making template. Then you are good to go for the New Year or the new financial period of your company, as the case may be.

Muster a heavy dose of courage and fine-tune your plans when necessary during the implementation phase. There is nothing to be ashamed about in adjusting your template in due course of the year. Circumstances do crop up beyond any man’s wildest imagination.

However this is not to make you become too rigid or egocentric.

A smart Chief Executive should ascribe a feeling to himself or herself that he or she does not know it all. But be equally firm about your vision while still being a team player.

There will be situations where you can never see the back of your head. Someone will need to help you out, at these times.

Above all, let your decision making have a room for Plan B; a contingency of sorts to minimize risks.

This aspect might not be too detailed. The truth is; it is mentally exhaustive enough to come up with an original well thought-out plan, yet to be bothered about a second option.

But try to give a thought to what might not work. And put up contingency plans to ameliorate this IF they do occur. That would readily eliminate the apprehension and procrastination in your mind to act on your first template of decisions for the New Year.

Finally

Eliminate your fears and doubts. Take solace in that; no decision making is ever perfect. Modifications will still be made during months of execution.

Determine your expectations. Give cognizance to the usual, namely: resources, challenges and opportunities within and outside your organization. You will be looking out for all the attributes of the local, national and global factors as they affect your manpower, your company and your industry.

Highlight your objectives and goals. Determine the time frame you must finish with your robust plan. After all the turkeys, chickens and sumptuous end-of-the-year dishes, you must find a place to carry out this meditative planning.

Put flesh to your highlights within a day or two after writing them out. Determine the date when you must finish it. Then you can come back and write and adjust the final thoughts you have penciled down.

All the past resources you have read; books, experts and successful business leaders, the multiple opinions at board and staff meetings would have worked on your thoughts to complete your action plan.

Having done that. You now have your own unique but effective business decision template for the New Year.

Mistakes would be made: successes would also be recorded.

Go for it…

Happy deliberation.

Happy New Financial Year!

‘Muyiwa Osifuye is the CEO of Stom & Ruby Services (Management Consulting/Business Advisory), Lagos. Visit www.muyiwaosifuye.com to read about how we can make your organization perform better… Call Now for our services +234(0)802 317 9969, email us to get other useful updates at [email protected] and [email protected].

Feature/OPED

Can Urban Farming Contribute Meaningfully to Nigeria’s Food Security?

Published

5 hours ago

10/07/2025

Business Post Contributor

By Diana Tenebe

Nigeria, Africa’s most populous nation, faces a complex web of food security challenges. Soaring food inflation, exacerbated by climate extremes, persistent insecurity in food-producing regions, and an inadequate supply of nutritious foods, has pushed millions into acute hunger. Despite vast agricultural resources, the country ranks low on the Global Food Security Index, underscoring a critical need for innovative solutions. Amidst this backdrop, urban farming, often dismissed as a niche activity, is gaining traction as a strategy to enhance food security, create income opportunities, and promote sustainable practices in urban areas.

Urban farming, encompassing a range of practices from rooftop gardens and vertical farms to community plots and aquaculture, offers the potential to localise food production, reduce reliance on distant supply chains, and enhance access to fresh, nutritious produce. As Nigerian cities continue to urbanise, converting agricultural land to other uses, the importance of maximizing food production within urban limits becomes crucial.

One of the most immediate and impactful contributions of urban farming is its ability to enhance food availability and access. By cultivating crops within city limits, fresh produce can reach consumers more quickly, drastically reducing post-harvest losses and transportation costs. This localised production directly addresses issues of food scarcity, especially for vulnerable urban populations who often struggle with the high cost and limited availability of fresh food. Successful initiatives in Lagos for instance have demonstrated how urban farms can become reliable sources of fruits, vegetables, and even protein through urban livestock and aquaculture for surrounding communities.

Beyond mere availability, urban farming plays a crucial role in improving nutritional outcomes and dietary diversity. Access to fresh, diverse produce encourages healthier eating habits, helping to combat prevalent issues like protein-energy malnutrition and micronutrient deficiencies. When families cultivate their own food, they gain greater control over its quality and freshness, often opting for more nutritious varieties. This direct link between cultivation and consumption can lead to a measurable increase in dietary diversity within urban households.

Urban farming is not just about subsistence; it holds substantial economic promise and fosters job creation. It directly generates employment opportunities in various stages, including planting, harvesting, processing, and distribution. Small-scale urban farmers can sell their surplus produce at local markets, generating income and fostering entrepreneurship. This can be particularly impactful for Nigeria’s large youth population, offering a viable path to employment and self-reliance in a landscape of high unemployment. Initiatives that provide training and access to markets, like “FarmInTheCity” in Lagos, exemplify how urban farming can blossom into full-scale enterprises.

Urban farming contributes significantly to environmental sustainability and climate resilience. Innovative urban farming techniques, such as hydroponics and vertical farming, are inherently resource-efficient, using less land and water compared to traditional agriculture. They also reduce “food miles,” significantly lowering carbon emissions associated with long-distance transportation. Additionally, urban green spaces created by farming initiatives can help mitigate the urban heat island effect, improve air quality, and enhance urban biodiversity. This makes urban farming a crucial component of climate adaptation strategies, helping cities become more resilient to the impacts of climate change, such as erratic rainfall patterns and prolonged droughts that affect traditional agriculture.

Finally, community gardens and collaborative urban farming projects serve as powerful tools for fostering community cohesion and social impact. They provide shared spaces where residents can connect, build knowledge, and foster a sense of community pride and ownership. These initiatives can also serve as educational platforms, promoting sustainable practices and raising awareness about local food systems. This collaborative spirit can be particularly beneficial in diverse urban settings, breaking down social barriers and strengthening community bonds.

For Urban farming to work in Nigeria, policy support and integration are crucial. Governments at all levels need to recognize urban farming as a legitimate and vital part of the food system. This involves developing supportive policies, streamlining land-use regulations, and integrating urban agriculture into city planning. Second, capacity building and education are essential. Investing in education and training programs is vital. Access to finance and technology is a significant factor for urban farmers. Innovative financing models, perhaps incorporating “pay-as-you-grow” schemes for technology adoption, are needed. Also, leveraging technology like mobile apps for market access can significantly boost productivity. Lastly, adequate infrastructure, including reliable energy sources and efficient storage facilities, is crucial to minimize post-harvest losses and ensure the economic viability of urban farms.

Urban farming in Nigeria is more than just a passing trend; it can represent a tangible and impactful pathway towards enhanced food security. By embracing innovative approaches, fostering supportive policies, and empowering urban communities with the necessary resources and knowledge, Nigeria can unlock the immense potential of its cities to feed their populations, create economic opportunities, and build a more resilient and sustainable future. The revolution of urban farming, if nurtured effectively, can indeed contribute meaningfully to Nigeria’s quest for food security.

Diana Tenebe is the Chief Operating Officer of Foodstuff Store

Feature/OPED

Beyond the Final Whistle: Peter Rufai and the Cost of Being a Legend

Published

8 hours ago

10/07/2025

Business Post Contributor

By Timi Olubiyi, PhD

The retirement from professional football, frequently glorified with illusions of legendary status and awards, reveals a contrasting reality upon closer examination, particularly in Nigeria.

Amidst the exciting goals and passionate stadium cheers exists a worrisome reality: numerous Nigerian footballers conclude their careers insufficiently prepared, financially insecure, physically impaired, and mentally overlooked.

Many retired Nigerian footballers, despite having earned significant sums of money during their careers, find themselves struggling financially soon after retirement. This is largely due to a lack of proper financial planning, poor investments, and the mismanagement of their earnings.

This post-retirement crisis of depression has affected even some of the nation’s most renowned figures, including Peter Rufai, the former Super Eagles custodian who once captivated spectators with his talent and tenacity.

Despite representing Nigeria internationally, and at the World Cup, notably and more recently Peter Rufai, has encountered the harsh reality of neglect following his retirement, and this has been the prevailing trend amongst football retirees.

Peter Rufai’s narrative resonates with the experiences of many former footballers who once bore the aspirations of a nation but now endure hardship, grappling with health complications and minimal assistance. The typical Nigerian player, throughout his career, frequently encounters a combination of inadequate money management, insufficient education, lack of appropriate legal guidance, and absence of long-term strategic planning.

Many of the players enter the illusion that they will leverage their talents, huge savings appear to be significant amounts, but fail to secure the stability of their retirement, despite all. In my opinion, these retirement failures are due to a lack of financial education and investment literacy, which leads to eventual poor retirement.

Nigerian footballers, in contrast to their colleagues in more developed footballing nations who enjoy strong player unions, pension schemes, and financial consulting services, frequently find themselves unsupported. Even injuries suffered over their career years often resurface later in life, accompanied by costly therapies that become unaffordable. The abrupt shift from fame and significance to anonymity and irrelevance imposes a psychological burden that few individuals are equipped to confront.

Numerous accounts also exist of former celebrities in the Nollywood and music industry. After retirement, they reside in deteriorated circumstances, soliciting public aid, or passing away discreetly without access to fundamental healthcare. This condition is rooted in a structural issue, originating from a football administration that favours immediate success over the long-term well-being of its sportsmen.

Moreover, the absence of organised retirement planning or transitional programs for footballers by the Nigeria Football Federation (NFF) and the Ministry of Sports signifies a neglect of the persons who have elevated Nigerian football’s prominence.

In simple terms, many retired Nigerian footballers do not benefit or have pension schemes or long-term financial plans after their playing careers end.

In contrast, football associations in countries like England or Spain provide players with comprehensive retirement programs and pension plans to ensure they remain financially stable even after they retire.

The harsh reality of retirement for Nigerian footballers is a growing concern that demands immediate attention. Therefore, a multifaceted strategy is urgently required to halt this slide.

Initially, financial education should be integrated into player development programs at the grassroots level, instructing young players on the significance of budgeting, investing, and saving.More so, mental health programs and education must be introduced to help retired footballers cope with the psychological challenges of retirement.

Secondly, the NFF should formalise retirement savings programs, pension schemes, and compulsory health insurance for all players representing clubs and the national team. Furthermore, a welfare department inside the NFF must be formed to monitor and assist retiring athletes, guaranteeing they are not left to manage alone. The government should enact legislation mandating retirement benefits and post-career healthcare access for national legislators, acknowledging their contribution to the country as a national duty.

Public-private partnerships may be utilised to establish a Footballers’ Retirement Fund, financed through endorsements, league earnings, and sponsorships. Former athletes may transition into coaching, mentoring, or ambassadorial positions, so as to ensure both financial compensation and continued significance.

Corporate entities and NGOs should participate by establishing post-career training programs in entrepreneurship, coaching, and sports management.

Peter Rufai, who previously endeavoured to promote fitness and youth development during his lifetime, could have received enhanced support to establish a legacy of mentorship programmes if the appropriate structures had been implemented.

In conclusion, without implementing systemic reforms, Nigerian football will continue to celebrate stars on the pitch but neglect them after they retire. Therefore, the government, the NFF, football clubs, and other sports federations must collaborate to establish a sustainable support system for sportspeople, ensuring they are financially secure, emotionally supported, and equipped with the skills needed to succeed after their sporting careers. Without these reforms, many Nigerian sports icons will persist in facing a bleak reality as they transition from playing to retirement.

The call for reform is not just about securing the future of Nigerian athletes; it is about recognising their contributions and making sure that their lives after sport are as dignified and fulfilling as their careers. Rest in peace, Peter Rufai, the legend!

How may you obtain advice or further information on the article?

Dr Timi Olubiyi is an Entrepreneurship and Business Management expert with a PhD in Business Administration from Babcock University, Nigeria. A prolific investment coach, columnist, author, adviser, seasoned scholar, Chartered Member of the Chartered Institute for Securities & Investment (CISI), Member of the Institute of Directors, and Securities & Exchange Commission (SEC) registered capital market operator. He can be reached on the Twitter handle @drtimiolubiyi and via email: [email protected], for any questions, reactions, and comments.

The opinions expressed in this article are those of the author,Dr Timi Olubiyi and do not necessarily reflect the opinions of others.

Feature/OPED

Nurturing Our Planet For Greener Africa For All

Published

1 day ago

09/07/2025

Business Post Contributor

Africa, despite contributing less than 4% of global greenhouse gas (GHG) emissions, disproportionately suffers from the climate crisis. At MultiChoice Africa, powering African dreams means investing in a greener, more sustainable future for the continent.

Our commitment to enriching lives extends beyond entertainment to a profound dedication to our vibrant African home. As Africa faces heightened vulnerability to climate change, urgent action is essential.

The MultiChoice Group’s recently released Environment, Social and Governance (ESG) performance report for the financial year ending March 2025 (FY25), highlights our devotion to protecting the planet.

The report is anchored in four core pillars, aligned with the United Nation’s Sustainable Development Goals (SDG): conserving natural resources, improving environmental performance, minimising our environmental footprint, and building impactful partnerships.

We believe a sustainable future for Africa is a shared responsibility. Here are five key highlights from our 2025 ESG report:

1. Climate change

Climate change is a significant challenge, especially for Africa, impacting everything from farming to water. MultiChoice Africa is committed to reducing our environmental impact. Our goal is to achieve carbon neutrality by 2050, meaning our operations will not add more carbon to the atmosphere than we remove.

This commitment results in a healthier planet with cleaner air, more stable weather patterns, and a more secure future for our communities. We continuously measure our carbon emissions, and in FY25, we made significant strides in reducing emissions from our direct operations.

2. Energy efficiency

Optimising energy consumption is a key pillar of our environmental strategy. In FY25, we achieved a notable reduction in energy consumption by optimising electricity use,

enhancing heating, cooling and ventilation systems, and improving data centre efficiency.

Across our facilities, we’ve deployed technologies like motion-sensor lighting, LED systems, and energy-efficient inverters. In Nigeria, we’re replacing outdated chillers with energy-efficient models. These smart solutions reduce our environmental impact and contribute to operational efficiency.

3. Water security

Water security is critical in Africa, and MultiChoice Africa is dedicated to responsible water management across all our operational facilities. We’ve implemented technologies like dual flush cisterns and drip irrigation systems, achieving up to a 40% reduction in water usage in some facilities.

In Nigeria, we’re extending drip-piping sprinkler systems and repurposing water from sewage treatment plants for irrigation. These efforts ensure responsible water use, benefiting communities and ecosystems.

4. Waste management

MultiChoice Africa is committed to responsible waste management, focusing on recycling, proper disposal, and circularity principles. In FY25, we disposed of nearly 465,000 kilograms of general trash, with significant efforts to divert waste from landfills.

We also ensure e-waste is handled with utmost environmental care, with over 6400 kilograms collected and safely recycled. Our Irdeto offices have phased out single-use plastics and recycle coffee waste, demonstrating our dedication to innovative waste reduction.

5. Environmental partnerships

Our environmental journey is strengthened by strategic partnerships. As an official African Broadcast partner for The Earthshot Prize, we amplify messages around climate change and inspire sustainable solutions.

Our collaboration with Fruitful Office has led to 7,048 trees planted since 2013, combating deforestation and offsetting CO₂ emissions. Through Irdeto Crosscharge, we’re contributing to the growing EV market, promoting secure and sustainable charging solutions.

MultiChoice Africa is taking a leading role in promoting environmental sustainability across the continent. The company is actively working to reduce its carbon emissions, conserve vital natural resources, and build impactful partnerships. These efforts are all part of a broader commitment to creating a healthier, more vibrant Africa for future generations—reflecting a deep sense of responsibility toward the planet and its people.