SATURDAY 24, APRIL 2021
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EDITION 39 24, APRIL 2021
MENTAL HEALTH
UDY'S CORNER
CALMING THE ANXIOUS MIND.
MARY GO ROUND.
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SATURDAY 24, APRIL 2021
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Contents
SATURDAY 24, APRIL 2021
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C O N T E N T S
5 ENERGY
9 FASHION ADEBAYO OKE-LAWAL OF ORANGECULTURE IS CREATING A PLATFORM, ORANGEMENTORSHIP, INSPIRING YOUNG CREATIVES.
14 MENTAL HEALTH
CUINARY DELIGHTS' BRAND POSITIONING IN THE MARKETPLACE
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FINTECH
BUSINESS HOW CUSTOMER TRUST HAS EARNED TRADITIONAL DTLA IT'S REMARKABLE SUCCESS
RECIPE
WHY BUSINESS OWNERS MUST ADAPT WITH CHANGING TRENDS IN TECHNOLOGY HASSAN MAHMOOD
UDY'S CORNER MARY GO ROUND.
BOOK REVIEW A WRITER’S DEEPEST FEELINGS ON LIFE AND SOCIETY - A REVIEW OF MICHAEL OLOYEDE’S LAGOS IS KILLING ME
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CALMING THE ANXIOUS MIND.
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VANILLA PUDDING RECIPE
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THERAPHY IDENTITY CRISIS
SPORTS MAN CITY EYES FIRST TROPHY AGAINST SPURS IN CARABAO CUP FINAL Businessday.ng
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Editorial
Editor’s Note SATURDAY 24, APRIL 2021
Welcome to another edition of the BusinessDay Weekender. As we approach the end of May I keep thinking about the popular saying that goes like this ‘April showers brings May flowers.’ I hope that the month of April has been good to you, and even it hasn’t, I hope that the month of May will bring you a renewed hope and outlook on life. I trust you have had a pleasant week and that you are looking forward to unwinding this weekend. This week our front page gives you look at the news stories making headway this week. Our mental health column teaches you how to deal with an anxious mind. Anxiety, a word that carries a lot of power, feelings and emotions, yet it can be so hard to explain. It creeps up on you socially, emotionally, physically and mentally. It can manifest itself as anger, withdrawal, stress, impulsiveness, irritability, controlling behaviour and lashing out. Anxiety is the fear of the unknown. The fear of uncertainty. While for some people, it is their worst enemy, for others, it is their crutch. Inside you will find a brand column that examines what brand positioning is. This is the process of positioning a brand in the mind of its customers. In some cases, brand positioning is also referred to as a positioning strategy, brand strategy, or a brand positioning statement. Our fashion column explores fashion and the ability to do good. When Adebayo Oke-Lawal started the OrangeCulture brand, he didn't just want to create a brand that spelled bold and unconventional. He didn't want to create a brand whose functions would be limited by the idealistic definitions of normal. He wanted to create a brand that could double as a movement; a brand that created a beautiful illusion of disbanding a stereotype around the traditional, and provided some form of safe house for those who sought. More inside. You will also find a delicious recipes, a comprehensive sports round up as well and much more.
Wishing you a pleasant and restful weekend. BD
Lehlé Baldé is the Editor of BusinessDay Weekender email: lehle.balde@businesssday.ng | social: @lehlelalumiere Businessday.ng
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SATURDAY 24, APRIL 2021 PUBLISHER/EDITOR IN CHIEF Frank Aigbogun MANAGING DIRECTOR Ogho Okiti EDITOR BUSINESSDAY SATURDAY Lehlé Balde EXECUTIVE DIRECTOR, OPERATIONS Fabian Akagha MANAGER, CONFERENCES & EVENTS Obiora Onyeaso MANAGER, ADVERTS Ijeoma Ude COPY SALES MANAGER Florence Kadiri DIGITAL SALES MANAGER Linda Ochugbua HEAD OF DIGITAL SERVICES Onyinyechi Eze HEAD, HUMAN RESOURCES Adeola Obisesan DESIGN AND ART DIRECTION Tolulope Ayo-Olubiyo. CONTRIBUTORS Mercy Ayodele Udy Osaro-Edobor Feyisitan Ijimakinwa Oyetiti Oyemade Stacey Karuhanga AnthonyNlebem Ifeoma Okeke PHOTO CREDIT unsplash, Google Images, Pexels ENQUIRIES lehle.balde@businessday.ng samuel.anyanwu@businessday.ng ADVERTS Ijeoma Ude ' +2348033225506 ' PUBLISHED BY BusinessDay Media Limited The Brook, 6 Point Road, GRA, Apapa, Lagos, Nigeria. 01-2799100 www.businessday.ng LEGAL ADVISERS The Law Union
News Roundup
APRIL 2021 SATURDAY 24,
Lagos concludes initial vaccine rollout, to begin administering second dose May 28 MERCY AYODELE
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fter vaccinating over 257,000 people against COVID-19, Lagos has brought the rollout of first jabs to an end. This follows the federal government’s directive to stop vaccination once half of the consignment has been administered. The remaining doses of the Oxford-AstraZeneca COVID vaccine have been reserved at the Lagos State Cold Chain Store for the rollout of second dose, which will commence from May 28, following the expiration of the 8-12 weeks interval as required by the manufacturers. Lagos State was allotted 507,000 doses of the 3.92 million doses of AstraZeneca COVID vaccine donated
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Derek Chauvin found guilty of all murder and manslaughter charges for the killing of George Floyd
A to Nigeria through COVAX facility, the global initiative for equitable distribution of COVID vaccines.
Germany also chooses Ghana over Nigeria as West African centre of Global Health
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ust when the dust was yet to settle on Twitter’s choice of Ghana over Nigeria for its African headquarters, Germany also revealed it will support the launch of a GermanWest African Centre for Global Health and Pandemic Prevention in Accra, capital of Ghana. This time again, not in Nigeria. Christoph Retzlaff, German ambassador to Ghana, announced in a tweet that the centre located in Ghana is one of eight others worldwide.
fter almost a year that Derek Chauvin was filmed kneeling on George Floyd's neck for more than nine minutes during his arrest, the US jury has found him guilty of murder. The widely watched footage sparked worldwide protests against racism and excessive use of force by police. Chauvin was found guilty on three charges: second-degree murder, thirddegree murder and manslaughter. His bail was immediately revoked and he was placed in custody. Sentencing is likely to happen in two months, and Chauvin could spend decades in jail. In Minnesota where the case was judged, second-degree murder carries a maximum sentence of 40 years in prison. Third-degree murder is punishable by up to 25 years in prison. Second-degree manslaughter is punishable by up to 10 years in prison.
Deborah Ojengbede, a 27-year-old female ex-banker raised 1 million dollars for her tech start up
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eborah Ojengbede in a glass shattering move has raised a whopping $1 million dollars for her Tech startup company, AFEN. AFEN, the first governmentbacked NFT initiative, held one of the quickest public sales in the crypto space on April 20th, 2021. Raising over a million dollars in her token’s sales round. Ojengbede, Chief Executive Officer of the AFEN group and a former banker, is in charge of the NFT initiative. The 27-year-old CEO resigned from her job as a business analyst at a top Nigerian bank, where she had worked for the previous five years. Following
that, she began pursuing her crypto aspirations, giving birth to AFEN, the groundbreaking platform for the digitization of African arts, real estate, and education. Businessday.ng
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News Roundup
SATURDAY 24, APRIL 2021
Chad’s President Idriss Deby killed on the frontline clashes with rebels
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had’s longtime President Idriss Deby has died of wounds suffered on the front line in the country’s north, where he had gone to visit soldiers battling rebels. The rebels, who have been seeking to oust Deby since 2016, had claimed a number of victories in the past week and clashes were reported in the north of the country at the weekend. The shock announcement came a day after Deby, who came to power in a rebellion in 1990, won a sixth term. Provisional results released on Monday showed Deby had taken 79.3 percent of the vote. A military council led by the late president’s 37-yearold son, four-star General Mahamat Idriss Deby, would replace him.
Nigerian fintech Okra raises $3.5M backed by Accenture Ventures and Susa Ventures
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igerian API fintech startup, Okra, has raised a $3.5 seed investment barely one year after its $1 million pre-seed round. US-based Susa Ventures led this seed round, with global consulting firm, Accenture Ventures, investing in an African startup for the first time. Other participating angel investors include Rob Solomon, GoFundMe Chairman; and Arpan Shah and Hongxia Zhong, former founding engineers at Robinhood. Okra’s API infrastructure has grown since its launch in January 2020. It currently boasts of serving over 100 digital busi-
nesses, financial institutions, government agencies, and fintech companies, including Interswitch, Access Bank, uLesson, and Aella App.
Brazil, India now epicentre of the coronavirus scourge
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hile most countries are seeing the number of Covid cases drop, India and Brazil are having the worst time. India’s rapidly worsening coronavirus outbreak is now expanding on a scale beyond any previously measured in more than a year of the pandemic: The health ministry reported a world record of 312,731 new infections on Thursday, the most recorded in any country on a single day. Over the past two months, the outbreak in India has exploded, with reports of superspreader gatherings, oxygen shortages and ambuBusinessday.ng
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lances lined up outside hospitals because there were no ventilators for new patients. Brazil also has become the second nation to go beyond the 4,000 daily death toll as a result of the covid-19 virus. The country, as of March 2021 contends with over 7.9 million cases and over 200,000 deaths.
SATURDAY 24, APRIL 2021
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2021
NIGERIAN INVESTOR VALUE AWARDS
BULLISH ON A RECOVERY DATE: SAT. 24 APRIL 2021 TIME: 5:30 PM ACCESS: HYBRID ABOUT
The Nigerian Investor Value (NIVA) Awards, also known as the Top CEOs & Next Bulls Awards, celebrates CEOs of public companies who have created sustainable alpha-generating value through strategic intelligence, operating efficiencies, market leadership and organisational values.
Winners are selected by a proprietary survey carried out by the BusinessDay Research and Intelligence Unit (BRIU). Respondents include administered on equity analysts, retail and institutional investors, financial journalists, sectoral experts, and professional advisers.
The Next Bulls category of the NIVA Awards recognises CEOS of stringently vetted non-listed companies that active, informed investors on the Nigerian Stock Exchange have expressed a strong demand to own their shares if their boards ever decide to take them public within the next 36 months.
Since the first edition held in 2014, the annual awards have served as a capital markets bellwether used in identifying the best performing chief executive officers and stocks on the Nigerian Stock Exchange as well as leading privately-held companies.
ROYAL FATHER OF THE DAY
SPECIAL GUESTS
His Royal Majesty, Oba Saheed Ademola Elegushi (Kusenla III) Elegushi of Ikate Kingdom
Dame Gladys Olajumoke Moyosoreoluwa Ayinke Simplice President & Chairman of Council, the Chartered Institute of Taxation of Nigeria (CITN)
For enquiries, please contact Roli Meggison-Olupitan
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roli.olupitan@businessday.ng
Deborah Bende
0803 254 8156
deborah.bende@businessday.ng
Ibukunoluwa Oyedeji President of CFA Society Nigeria
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ENERGY
SATURDAY 24, APRIL 2021
SOLAR AND BATTERY INSTALLATION AT THE MINISTRY OF WORKS AND HOUSING IN ABUJA INSTALLED AND OPERATED BY EM-ONE Businessday.ng
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ENERGY 9
SATURDAY 24, APRIL 2021
SOLAR AND BATTERY INSTALLATION AT THE MINISTRY OF WORKS AND HOUSING IN ABUJA INSTALLED AND OPERATED BY EM-ONE Businessday.ng
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FASHION
SATURDAY 24, APRIL 2021
ADEBAYO OKE-LAWAL OF ORANGECULTURE IS CREATING A PLATFORM, ORANGEMENTORSHIP, INSPIRING YOUNG CREATIVES.
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hen Adebayo Oke-Lawal started the OrangeCulture brand, he didn't just want to create a brand that spelled bold and unconventional. He didn't want to create a brand whose functions would be limited by the idealistic definitions of normal. He wanted to create a brand that could double as a movement; a brand that created a beautiful illusion of disbanding a stereotype around the traditional, and provided some form of safe house for those who sought. He wanted a brand that effortlessly spelled liberation, and sat on the premise of freedom, as it provided comfort to its wearer. He wanted to create a brand that inspired younger people, men especially, to be as free and fierce as the desert wind, while teaching, nurturing, and mentoring. True to that, Bayo has set a pace that's positively impacting a select generation of Nigerians (and beyond). The Nigerian fashion industry is no doubt known to be one of the biggest producers of talents and creative spirits, with its inhabitants making, winning, and setting smattering benchmarks. While these pioneers try to influence younger creatives through their highend brands, the metrics aren't so high on those who are actually translating these "shows" to "actions'', and intentionally inspiring creatives seeking to attain such heights. Adebayo Oke-Lawal, the Founder and Creative Director of Orange Culture is actively translating his works to actions, and inspiring a huge amount of people. The Orangeculture brand is a Lagos, Nigeria-based androgynous menswear brand that caters to those who are looking to overhaul a narrative of traditional menswear. One of the better parts of the brands’ establishment is that it doesn't just end on the need to Businessday.ng
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create clothes that manifest androgyny but also furthers down the reins of change towards relationships, perceived masculinity, and traditional normative living. The Orangeculture brand is an androgynous menswear brand that incites a movement. It's been 10years, and we've used this platform to tell stories that are emotionally intelligent and socially conscious, Bayo explains over a zoom call. N o d o u b t , a daring brand that's sur vived the Nigerian (and beyond) market for 10 whole years, must have attained an admirable level of experience. Since
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those years of inception, the brand has created collections that varied from Summer Quirks, Etched Journey, PRETTY, to Orange Moon, Honest, etc. Through these productions and real hard work, he's gained recognitions including being a finalist for the prestigious LVMH and Woolmark Awards. In order to inspire, advise and direct folks looking to explore the creative space, he Founded a flagship program, OrangeMentorship. "Because there was really so much I didn't know about or had access to --- brand launching, factory workings, logistics, and so on, I thought to create a platform that'll make it easier for young people," Bayo explains. He also talks about how there were no [established] fashion schools at the time, and how access seemed impossible. With this platform, I aim to bridge the gap between participants, designers, fashion professionals, and the likes," he says. During the pandemic, The OrangeMentorship program which started off as a physical meeting had to adjust like every other activity. Although the pandemic did affect a lot and caused a change of learning media, the
designer is grateful because it's allowed for flexibility and reach. "This way, I have reached more people than I normally would. Although the lockdown's been lifted here in Nigeria, we still plan to continue going digital, or do a hybrid of physical and digital classes… and quite frankly, the reception has been great. We've received kind messages from folks, and they're looking forward to each of our sessions." With brands releasing their SS/21 and AW/21 collections, Bayo explains how some of the designers who have benefited from the program are already currently working on their SS/22 collections. With the OrangeMentorship program, he's inspired young creatives through working with and inviting other fashion pioneers such as Omoyemi Akerele, Mai Atafo, Ugo Monye, Andrea Iyamah, Tobi Idowu, Akudo, Nkwo, Teni Sagoe, The Style Infidel, etc. As he tells us to keep fingers crossed for the soon-to-be Amazing session with Rich Mnisi, one of South Africa's best designers, he draws attention to how his collaboration with The Folklore and Nataal Media has helped give designers a shot at the global market. "I have worked with them in times past, and they really do focus on giving designers a chance. I needed to work with them because we all had a passion for the African Fashion Businessday.ng
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"To build a fashion brand that stands the test of time, designers have to embrace working hard and putting in the work. It's usually not as glamorous as it seems, so be ready for the challenges. Gain knowledge and try to make opportunities for yourself. Learn; Learn virtually or physically. Understand that in order to build a brand that speaks directly to you and tells your own stories, there are no copying or competitions." -Adebayo Oke-Lawal
industry, and needed to change the stereotypes of what African fashion was perceived to be." As we drew the meeting to a conclusion, the talented and selfless designer explained that he tries to manage the schedule, get and book the right people on, and make sure that they seamlessly deliver in the end. "I actually enjoy doing all of this, so it's not much of a hassle. Time zone differences, limited time, and connection services can cause a bit of problems, but we try to manage it. It's been good so far," he says. "Also, I love to see people learn. The positive feedback has been tremendous. You know, being able to survive in the Nigerian Fashion market as an androgynous brand is indeed something. Creating a brand that lasted a decade is really an accomplishment. I love how I'm using the platform to create opportunities. It's a huge motivation for me," he goes on to add. Advising young creatives, he follows on the thread-like other designers putting an endorsement on hard work, difference, networking, and challenging efforts. He also advises that nascent brands use every available resource --- books, videos, audios, pictures, basically anything that seeks to inspire minds.BD
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SATURDAY 24, APRIL 2021
BOOK REVIEW
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A Writer’s Deepest Feelings on Life and Society - A Review of Michael Oloyede’s Lagos Is Killing Me Book Title: Lagos is killing me Author: Michael Oloyede Publisher: The Roaring Lion Newcastle Year of Publication: 2020 Number of Pages: 91 Category: Poetry
LAGOS IS KILLING ME L
ife is full of challenges and none of us is immune to these challenges. Financial troubles, unfair treatment, heartbreak, confusion, failure, grief are hard-core issues that affects the lives of people today. You can choose to embrace your problems, learn from your experiences; or you can choose to allow your challenges stop you from fulfilling your true potentials in life. Michael Oloyede has made use of his own poems to analyze, get out his feelings and thoughts on important events and experiences from his life in the poetry collection Lagos is killing me. The title of the book suggests a nod to life's hardships, an economic hardship that tend to picture Lagos as a frenetic city. With Lagos is killing me, Oloyede allows readers a glimpse into the world as he sees it, deeply personal yet attempts to touch every aspect of human experience. The terrific crowded street front cover of Lagos is killing me is reason enough to pick up the book and open it, however the collection of poems within is what makes this such an intriguing read. As the back-cover blurb proclaims, his 'collection of poetry is a marvel'. The book would seem to lean toward unconventional and examines topics such as White Mark has got a tribal mark, Naija Wahala, Orita meta, With kings in Colorado, The Jobberman, Sacraments of bullets as well as emotional accounts of feelings and situations that the people of Lagos are dealing with. There are over sixty poems in this collection; the collection draws inspiration from people and Oloyede’s surroundings.
Like in the twelfth poem, “Laughter”, we are reminded to laugh and find joy as we get caught up in the daily dramas of our life. Oloyede’s strengths are frankness and imagination, and his weakness is choice of words which got a bit exhausting. “Fela” is the powerful tribute poem to the legendary afrobeats singer, and reveals the icon's complex personality, his music, courage and activism. This is a thank you note for what he has done in the past. The memories of the “First Kiss” will resonate with some readers who are sure to see themselves and feel exactly what the author feels. From awkward, to romantic, and everything in between. The author brings down the house with “Sars” which details the activities of Nigeria's Special AntiRobbery Squad. The following stanza was particularly worrisome:
Shed enough blood and brag of no consequence SARS, the Dunkirk of atrocious stock in trade of brutality Mass murder and impunity, under the auspices of gaslighting state machineries Some poems will make you smile and some are full of horror. Lagos is killing me would make an outstanding addition to a poetry library and appeal to readers who enjoy the experience of seeing into the soul of another person..BD oyemade is a business execute in a leading organisation and holds a degree in Russian Language. She’s the convener of the Hangoutwithtee Ladies Event and the publisher of Hangoutwithtee magazine. She spends her weekends attending women conferences, events and book readings. She loves to have fun and to help other women have the same in their lives. Email: titi.oyemade@gmail.com Social: @tiipree Businessday.ng
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MENTAL HEALTH
SATURDAY 24, APRIL 2021
CALMING THE ANXIOUS MIND STACEY KARUHANGA
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MENTAL HEALTH
SATURDAY 24, APRIL 2021
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nxiety, a word that carries a lot of power, feelings and emotions, yet it can be so hard to explain. It creeps up on you socially, emotionally, physically and mentally. It can manifest itself as anger, withdrawal, stress, impulsiveness, irritability, controlling behaviour and lashing out. Anxiety is the fear of the unknown. The fear of uncertainty. While for some people, it is their worst enemy, for others, it is their crutch.
off our natural alarm system in situations when it should not be doing so. Anxiety becomes a concern when it starts to interfere with your daily activities and gets worse over time. Sometimes, you might not necessarily be aware of what makes you anxious, but you may experience body sensations and irrational thoughts that cross your mind. In retrospect, you will be able to look back and gauge what was triggering your anxiety.
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to ourselves in order to achieve this positive outcome. Patience is key here as it requires practice to find out what techniques and strategies work best in certain situations. Remember, healing is an educational journey with no graduation – I heard this once and it stuck with me. Try not to let your thoughts define you. Some helpful apps for daily affirmations and relaxation include PEPTALKS™ by Lindsey Eryn, Insight Timer, Happify, Headspace and Calm. It might also help to keep a small journal you could carry with you to jot down your thoughts and feelings when you do find yourself feeling anxious. This not only helps you acknowledge your feelings, but also makes you self-aware of the underlying cause.
The question stands – what can we do to lower the volume of that inner voice in our mind? Not mute it, but rather lower it. Sometimes, we have to sit and pay attention to that voice. Focus on how it makes your body feel and try not to fight it. Once we have acknowledged those thoughts, then we will be able to self-regulate our volatile emotions Self-help books to read include and implement what makes us feel “The Worry Trick” by David A. safe and calm in the midst of what Carbonell and “Calm the F*ck seems like a mind tornado. One has Down” by Sarah Knight. Some good to evaluate if the thoughts are true. If reads for kids are “Listening to my they are factual. Ask yourself: what is body” by Gabi Garcia and “What to the worst that could happen? Then, do when you worry too much” by brainstorm a plan to execute before Dawn Huebner. you spiral into the rabbit hole of dark thoughts. The main goal here is to change the false narrative – replace *This article aims to provide helpful the negative thoughts with helpful tips and strategies to manage anxiety. thoughts and become aware of the However, if you are experiencing language you use when speaking to increased levels of anxiety, please yourself. Redirect your energy to the seek professional help or talk to your present; think about what you want doctor... BD for yourself and how you want to However, there comes a point feel. We need to be kind and gentle where our minds are constantly in Stacey Karuhanga is a registered Social Worker in Canada. She holds a Master's this fight-flight-freeze mode even degree in Social Work (MSW), specializing in Mental Health and Health. She when there is no real danger. This has experience working with infants, children and youth who have emotional, occurs when our bodies are under behavioural and social difficulties. Additionally, she has worked with adults living with mental illness and concurrent disorders. Stacey currently works as a Child high-stress alert and are trying to and Family Therapist. justify our triggers; hence, setting Anxiety is the body’s natural reaction to a stressful situation. It is the fight-flight-freeze response our body releases; a survival mechanism that protects us from actual or perceived threat. Anxiety and fear go hand-in-hand. Fear is the instinct that tells you to be still (freeze) when you spot a coyote on the hiking trail or run (flight) when a dog is chasing you. It is normal to be anxious. The butterflies you get when you are going on your first date; the sweaty palms you have when you are about to give a speech or presentation; the urge to use the washroom before a big event. Let us not forget the tension and palpitations before a job interview. I am pretty sure all these emotions sound familiar and of course, while it may look and feel different for everyone, these are simple examples of the body’s reaction to anxious situations.
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BRANDS
SATURDAY 24, APRIL 2021
BRAND POSITIONING IN THE MARKETPLACE FEYISITAN IJIMAKINWA
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et us start by establishing what brand positioning is. This is the process of positioning a brand in the mind of its customers. In some cases, brand positioning is also referred to as a positioning strategy, brand strategy, or a brand positioning statement. The concept of brand positioning was made popular by Al Ries and Jack Trout’s bestselling book, Positioning: The Battle for Your Mind. The idea is to identify and attempt to “own” a marketing niche for a brand, product, or service, using various strategies including pricing, promotions, distribution, packaging, and competition. The ultimate objective is to create a unique impression in the customer’s mind so that the customer associates something specific and desirable with a particular brand that is distinct from rest of the marketplace.
be adapted for a tagline, but it is important to distinguish between the two.
It is safe to say that brand positioning occurs whether or not a company is proactive in developing a position. However, if management takes an intelligent, forwardlooking approach, it can positively influence its brand positioning in the eyes of its target customers.
3. Understand how each competitor is positioning their brand
7-Step Brand Positioning Strategy Process In order to create a position strategy, you must first identify your brand’s uniqueness and determine what differentiates you from competition. There are 7 key steps to effectively clarify your positioning in the marketplace: 1. Determine how your brand is currently positioning itself 2. Identify your direct competitors
4. Compare your positioning to your competitors’ to identify your uniqueness 5. Develop a distinct and value-based positioning idea
Brand Positioning Statements versus Brand Taglines Brand positioning statements are often confused with company taglines or slogans. Positioning statements are for internal use. These statements guide the marketing and operating decisions of a business. A positioning statement helps in the making of key decisions that affect customer’s perception of a brand. A tagline, on the other hand, is an external statement used in marketing efforts. Insights from a brand positioning statement can Businessday.ng
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6. Craft a brand positioning statement 7. Test the efficacy of your brand positioning statement
What is a Brand Positioning Statement? A positioning statement is a one or two sentence declaration that communicates your brand’s unique value to your customers in relation to your main competitors.
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In Crossing the Chasm, Geoffrey Moore offers one way of formulating a positioning statement. However, the simplified structure below will be helpful in the formulation of a Brand Positioning Statement.
How to Create a Brand Positioning Statement There are four essential elements of a best-in-class positioning statement: Target Customer: What is a concise summary of the attitudinal and demographic description of the target group of customers your brand is attempting to appeal to and attract? Market Definition: What category is your brand competing in, and in what context does your brand have relevance to your customers? Brand Promise: What is the most compelling (emotional/rational)
benefit to your target customers that your brand can own relative to your competition? Reason to Believe: What is the most compelling evidence that your brand delivers on its brand promise? After thoughtfully answering these four questions, you can craft your positioning statement: comprehensive selection.
Example of Positioning Statements EXAMPLES OF Amazon.com used the following TAGLINES
positioning statement in 2001 (when Once you have a strong brand it almost exclusively sold books): positioning statement you can For World Wide Web users who create a tagline or slogan that helps enjoy books, Amazon.com is a establish the position you’re looking retail bookseller that provides to own. Here are some examples: instant access to over 1.1 million Mercedes-Benz: Engineered like no books. Unlike traditional book other car in the world retailers, Amazon.com provides a combination of extraordinary BMW: The ultimate driving machine convenience, low prices, and Zenith Bank: In your best interest Wharton Business School: The only business school that trains managers who are global, cross-functional, good leaders, and leveraged by technology MTN: Everywhere you go Total: Committed to Better Energy. Nike: Just do it Coca-Cola: The real thing
EVALUATING YOUR BRAND POSITIONING STRATEGY An intelligent and well-crafted positioning statement is a powerful tool for bringing focus and clarity to your marketing strategies, advertising and promotional campaigns. If used properly, this statement can help you make effective decisions to help differentiate your brand, attract your Businessday.ng
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positioning is understood, having a tagline or a positioning statement can be useful by clarifying your brand’s essence within your organization. By examining the essence of what you are and comparing it with what your customers want, the doors open to building a business with a strong positioning in the mind of the customer. Why? Great brands merge their passion with their positioning into one statement that captures the essence of both.
INTEGRATING YOUR BRAND POSITIONING IN YOUR CUSTOMERS’ MIND
target customers, and win market share from your competition. Here are 15 criteria for checking your brand positioning: 1. Does it differentiate your brand? 2. D o e s it match c ustome r perceptions of your brand? 3. Does it enable growth? 4. Does it identify your brand’s unique value to your customers? 5. Does it produce a clear picture in your mind that’s different from your competitors’? 6. Is it focused on your core customers? 7. Is it memorable and motivating?
REPOSITIONING POSITIONING The unfortunate reality is that no marketer has the power to Businessday.ng
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position anything in the customer’s mind, which is the core promise of positioning. The notion that positions are created by marketers has to die. Customers have their own idea of how they perceive your brand. Positioning is not something you do, but rather, is the result of your customer’s perception of what you do. Positioning is not something we can create in a vacuum—the act of positioning is a co-authored experience with the customers. B ehind your positioning statement or tagline is your intention—how you desire your business to be represented to customers. Once the real role of
To position your brand in your customer’s mind, you must start from within your business. Every member of your organization that touches the customer has to be the perfect expression of your position. And, since everyone touches the customer in some way, everyone should be the best expression of your position. Last line: Many brands don’t have the clarity and conviction of following through on their words. Without certainty, you default to the status quo. Turn everything you do into an expression of your desired positioning and you can create something special. This takes courage; to actively position your brand means you have to stand for something. Only then are you truly on your way to owning your very own position in the minds of your customers.BD
Feyisitan Ijimakinwa is a Reputation and Perception Management expert. He is a prolific writer and researcher who, at different times, served as Head of Corporate Communications of top brands quoted on the Nigerian Stock Exchange. A versatile communications specialist, he practiced extensively as a print journalist and was variously engaged in the broadcast media, working on radio and television. Feyisitan continues to write on corporate communications, brand reputation and perception management, and brand intelligence, among others. He organises the ‘Brand Intelligence and the Marketplace’ masterclass. Feyisitan advocates a pollution free and sustainable environment
SATURDAY 24, APRIL 2021
WHY BUSINESS OWNERS MUST ADAPT WITH CHANGING TRENDS IN TECHNOLOGY - HASSAN MAHMOOD
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IFEOMA OKEKE
n our modern world technolog y is constantly evolving with new devices, platforms, and advancements emerging all the time. The speed that technology currently moves at can be overwhelming but if you are running a business in this digital world then it is essential to keep up. This is the belief of entrepreneur Hassan Mahmood, who stresses that every business owner should understand the technological world for their business to thrive. Mahmood believes that every business should be plugged into the
FINTECH
advancements of technology, he stresses that it doesn’t matter if you are running a Fortune 500 company or a dairy farm.
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climate your business needs to thrive in.” Serial entrepreneur Hassan Mahmood has remained dedicated to his family’s retail business while also establishing himself as an independent business owner.
He warns that believing that your business doesn’t need to know about trends in technology or utilize them, will put you behind the competition.
Above all, Mahmood shares that he believes in the power of dedication and commitment to your beliefs, elaborating further Mahmood says, “Regret can only exist if you choose not to rise to a challenge if you give 100 percent then you will have no regrets even if you fail.”
Expanding on this point, Mahmood says, “ Trends in technology affect the world in which your product or service exists and the world in which your potential customers live their lives, understanding current technology helps you to better understand the
Technology doesn’t wait for anyone, it expands with every new thought or idea applied to it, and it moves fast enough to leave behind those that can’t keep pace and according to Hassan Mahmood if you fall behind you may never catch up..BD Businessday.ng
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BUSINESS
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SATURDAY 24, APRIL 2021
HOW CUSTOMER TRUST HAS EARNED TRADITIONAL DTLA IT'S REMARKABLE SUCCESS IFEOMA OKEKE
very business should be held up by specific pillars that guide its direction, both in sound and challenging
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DTLA has crafted its brand personality to speak to its clients. At the core of their organization are quality products and outstanding customer care.
business, and DTLA takes pride in having satisfied and informed clients. The massive growth they’re experiencing is a result of the trust that their customers have.
Every company has a story of how they came to be and the core offering that makes them unique. This unique edge must come out clearly.
According to the team at DTLA, many substandard products have made their way into the market, duping customers into spending money on a bad product.
Without these two core values, many businesses are bound to fail or underdeliver to customers who rely on them.
Traditional DTLA is an organization that has the unique edge needed to survive and thrive in business. They are a company that sells medicinal cannabis and grows their cannabis themselves.
By growing their own product, nurturing the plants, and creating various flavors and products from them makes DTLA unique and reliable. Their products are always top-grade cannabis.
Perhaps one of the most controversial herbs, cannabis has been in the middle of many discussions worldwide.
On the other hand, it is customer service. Many people might not know what they need and how much of it they need.
With researchers discovering many health benefits of using cannabis for medicinal purposes, it has been legalized in various parts of the world, giving businesses like Traditional DTLA an arena.
Therefore, the Traditional DTLA team ensures they educate their clients on the various products so that they can make an informed decision.
times.
Like any other business, the cannabis industry is also competitive, which means that Businessday.ng
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While growing the business is essential, Traditional DTLA puts their clients above making profits. Happy clients are a big success in
Businesses in the cannabis field must continually educate their customers as they make their purchases. The DTLA team notes how sensitive medicinal products are. The goal is to become world leaders in providing medicinal cannabis; however, DTLA is committed to ensuring that their growth is not at the expense of their customer service or quality of products. As they continue to build on their promise, Traditional DTLA calls upon users of medicinal cannabis to seek information before making blind purchases..BD
SATURDAY 24, APRIL 2021
UDY'S CORNER
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MARY GO ROUND: HOW DO RUMORS GET STARTED? UDY OSARO-EDOBOR
...they're started by the jealous people.
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have seen beautiful ladies in my life time but Mary Martins surpasses them all. She is tall and drop dead gorgeous with an hour glass shape. She is a total package, a ten over ten. Plus, she is very intelligent and has practically worked in every department in our office, from HR to IT and then Accounts. Who does that? This girl is wired in a weird way. Everyone loves her, well, everyone except Ebuka. He claimed to know her from way back so he knew 'stuff ' about her. Ironically, Mary related very well with Ebuka and he acted nice around her but he became a villain as soon as her back was turned. He seized every opportunity to run her down and it wasn't long before some our colleagues started to believe the things he said. He called her, "Mary go round" because all the "ogas at the top" have all taken turns with her. He told us that Mary was "a two faced bitch...a nymphomaniac who slept with men for favours. How could anyone explain why the MD melted like butter on hot toast when he sees Mary, how is it even possible for one person to move round different departments in a company? Why does he call her, "Double M? Which right thinking boss calls his staff with endearments if there are no strings attached? He argued. How Ebuka knew these things about her baffled me. Soon enough I noticed how most of the ladies withdrew from Mary while the guys flashed her fake smiles and pretended to be nice. She would walk into the staff lounge and sit by herself at lunch. If people where throwing funny looks at her, Mary was either blind or she just pretended not to notice them. There was a vulnerability about Mary that didn't quite fit the picture painted by Ebuka. I wanted to know more about her and there was only one way to find out....join her for lunch. I enjoyed her company. (Damn this girl was fine like six people). She was a well of knowledge and I enjoyed listening to her. She literally weighed her words before speaking so that when she opened her mouth, she spewed
out so much wisdom. I looked forward to having lunch with her every day. Then the teasing started from the guys. Office rumour had it that Mary and I were friends with benefits. (This had Ebuka written all over it). I even heard them call us, "Mary and her little lamb" but I ignore them. Mary and I became quite close and I decided to ask her if she was in a relationship, her response was shocking. She wasn't in a relationship and had never ever been in one. (That was hard to believe). But..she had a confession though. You can't imagine how shocked I was when she revealed that she had been secretly crushing on me for over three years. MD was even aware because he caught her starring at me several times and would call her Mrs Muyiwa, but because he didn't want to give her away he coined the name Double M. Wow! Double M was actually Mary and Muyiwa. She told me how close she had come to dating Ebuka when they were younger until she found out that she was a bet. Ebuka wanted to have sex her to score some points with his friends. He never stopped making sexual advances towards her and she keeps turning him down. She admitted that she knew about Ebuka and his big mouth but had decided to let things slide because he had a sick mother and six siblings to take care of, these were the things she thought about each time she wanted to take action against him. Mary got him his job. She recommended and vouched for him even when he wasn't qualified for the position. As she spoke, anger welled up inside Muyiwa. This girl had a good heart. Ebuka didn't deserve anything from her. If she's going to be my woman, I owe it to her to deal with Ebuka once and for all BD Udy Osaro-Edobor is the Content Creator for SoTv (Supernatural Online TV) Nigeria. She is a movie/ scriptwriter, editor, and proofreader. She has several stories to her credit which she posts for free on her Ebook called Udy's Chapter. She is currently working on two short movies. Udy is also a wife, mother, and a "serial entrepreneur". udy1717@gmail.com Businessday.ng
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THERAPY
SATURDAY 24, APRIL 2021
IDENTITY CRISIS EZINNE OGWUMAH
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it h t he r i s e of digital social spaces, i t ’s b e c o m i n g hard for people to independently think for themselves.
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THE REAL YOU IS ACTUALLY WHAT MATTERS Businessday.ng
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There are strong ideologies, think pieces and ruling cults of some sorts, which have somehow made it a thing of bravery for one to openly speak and stand for what we believe is true especially when it’s different from the “norm”. The interesting par t however, is the aftereffect. How it plays out in the real world and how we go ahead to define who we are and set the standards and values we believe are suitable for us. Who are you? What are your standards? What do you value? Finally, give reason for your answers. If you as a reader, take a minute to answer these questions, with patience and a little introspection, you see how most of what we believe in and how we
have shaped our personalities are influenced by external and social factors. The conflict of one’s identity is however part of the personal development process, this is better explained by the Erik Erikson’s stages of psychosocial development. From my favorite quote of his “In the social jungle of human existence, there is no feeling of being alive without a sense of identity” So, if you ever find yourself questioning your worth, value or the meaning of life in general, it is totally normal but you must approach it from a positive perspective. Negativity shouldn’t be allowed. Bad energy stays far away. Also, remember that change is constant, so you can always have a different answer or change in perspective on what you want and believe in, regardless of your age, gender or race. P.s: Therapy is always an option. Be open to the idea! BD
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RECIPE
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VANILLA PUDDING RECIPE INSTRUCTIONS INGREDIENTS 1/3 cup sugar 2 tablespoons cornstarch 1/8 teaspoon salt 2cups milk 2 large egg yolks, slightly beaten 2 tablespoons butter, softened 2 teaspoons vanilla
In 2-quart saucepan, mix sugar, cornstarch and salt. Gradually stir in milk. Cook over medium heat, stirring constantly, until mixture thickens and boils. Boil and stir 1 minute. Gradually stir at least half of the hot mixture into egg yolks, then stir back into hot mixture in saucepan. Boil and stir 1 minute; remove from heat. Stir in butter and vanilla. Pour pudding into dessert dishes. Cover and refrigerate about 1 hour or until chilled. Store covered in refrigerator. BD
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MEDIA
THE IKORODU BOIS SHOW THAT FANS MAKE THE MOVIES
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he Ikorodu Bois are a group of brothers and one cousin from Lagos, Nigeria who remake their favorite movie trailers in their free time. Their style is both charming and unique, using a mix of DIY craft and childlike joy to recreate mega-budget films on a shoestring. They first caught our eye when they remade the trailer for Extraction in June 2020. The Bois have followers all over the world because their passion Businessday.ng
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for entertainment is infectious, and they remind us of that feeling we had when we fell in love with movies as a kid. To help support their filmmaking journey, we sent them a care package of professional filmmaking gear last August. “We love movies because they give us the inspiration we need, put us in the best mood and allow us to get a glimpse into the lives of amazing people. And the reason why we do what we do is for the love
SATURDAY 24, APRIL 2021
of movies. And we want to show the world that things can be achieved with the use of little stuffs!” - Babatunde Sanni, Director, Ikorodu Bois As we approach film’s biggest night, we want to celebrate everyone’s love of movies. It feels like the perfect time, and reason, to give the spotlight to the Bois.
They personify a new generation of global film fans, discovering movies for the first time, all over the world. We know that great stories can come from anywhere - including from these ultimate fans - and be loved everywhere. Fans make the movies.
SATURDAY 24, APRIL 2021
SPORT
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ANTHONY NLEBEM
MAN CITY EYES FIRST TROPHY AGAINST SPURS IN CARABAO CUP FINAL
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gain, football lovers can look forward to what could be the first step of a ‘treble’ from Manchester City, as they face Tottenham Hotspur in the final of the 2020-21 Carabao Cup on Sunday 25 April at Wembley Stadium. Man City are looking to win three trophies this season: the Carabao Cup, Premier League and UEFA Champions League. It could have been four, but they exited the FA Cup at the hands of Chelsea in last weekend’s semi-finals. City head to Wembley for the second weekend in a row as they face Tottenham, with both teams bidding to win the season’s first piece of domestic silverware.
start of the week, are looking to lift their first trophy since winning this competition in 2008. Eight days after losing an FA Cup semi-final at Wembley, Pep Guardiola’s return as hot favourites to win the League Cup for a fourth consecutive season. City have won 29 of their last 32 matches in all competitions, although two of their three defeats in that run have come in the last four matches, against Leeds United in the Premier League and Chelsea in the aforementioned semi-final.
Now they have the chance to win the Carabao Cup for a fourth successive season (and a fifth time from the last six campaigns), though manager Pep Guardiola comes Pep Guardiola’s side have won into the match defending his team this trophy in each of the past selection from the Wembley defeat three seasons and will be looking to the Blues. to match Liverpool’s record of four consecutive triumphs between 1981 “When a team arrives in the final and 1984. stages of all the competitions, when this team, wins four finals in a row in Spurs, who parted company the Carabao Cup, you can't say that. with manager Jose Mourinho at the Just say we lost the game,” said the
Spaniard. “We don't get to the semi-finals of the FA Cup, the final of the Carabao Cup four years in a row and the semifinals of the Champions League when we do not pay attention to anything.” Tottenham, meanwhile, come into the game in disarray after sacking manager Jose Mourinho and his technical team early this week – hardly the best preparation as they look to win the Carabao Cup for the first time since 2008 and a fifth time overall. "Jose and his coaching staff have been with us through some of our most challenging times as a club. Jose is a true professional who showed enormous resilience during the pandemic,” said Spurs chairman Daniel Levy. "On a personal level I have enjoyed working with him and regret that things have not worked out as we both had envisaged. He will always be welcome here and we should like to thank him and his coaching staff for Businessday.ng
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SPORT
SATURDAY 24, APRIL 2021
their contribution." Viewers on DStv can see all their favourite stars from the African continent dominating Carabao Cup pitches across England.
Key players to watch Kevin De Bruyne – Man City’s Belgian playmaker is a man for the big occasion and will be aiming to stamp his authority on this clash in Wembley. If De Bruyne can get on the ball and orchestrate the Citizens’ attack with freedom, then a fourth straight Carabao Cup is surely theirs for the taking. Harry Kane – If Tottenham are to have any realistic chance of upsetting Man City in this final, then they will need their big players to come to the party, especially captain Harry Kane. The England striker will be desperate to win a first piece of major silverware with his beloved Spurs.
Head-to-head stats In head-to-head stats, Man City and Tottenham have met in 163 matches across all competitions since their first clash back in 1909. The Citizens have claimed 64 wins compared to 63 for Spurs, while 36 games have been drawn. The teams have met twice in the Premier League this season, with Tottenham winning 2-0 at home in November 2020 before City claimed revenge with a 3-0 triumph in the return game in February 2021. The clubs’ last meeting in the Carabao Cup was in December 2007, with Spurs winning 2-0 away from home in the fifth round, en-route to winning the competition that season.. BD Businessday.ng
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EUROPEAN SUPER LEAGUE PROJECT NOT DEAD - PEREZ The European Super League is not dead, says Real Madrid president and Super League chairman, Florentino Perez. Speaking on Spanish radio program El Larguero, Perez insisted that “we are going to keep working” and the clubs that had publicly announced their withdrawal from the project “have not left yet”. The European Super League was announced on Sunday but collapsed from Tuesday night when the Premier League's Big Six clubs withdrew from the breakaway project. Spanish club Atletico Madrid and Italian sides AC Milan and Inter Milan also pulled out. From the original 12 ‘founding members’ Real Madrid and Barcelona are the only side who are yet to withdraw or change their stance. A defiant Perez, who was also appointed president of the European Super league, said the clubs that had announced their departure from the project “have
not left” as “nobody has yet paid the penalisation fee for leaving”. “We are going to keep working,” he said. “We are looking for ways of getting this done. It would be a shame not to get it done.” “I have never seen aggression greater on the part of the president of UEFA and other presidents of LaLiga, it was orchestrated, it surprised us all. I have never seen anything like it — insults, threats, as if we had killed someone, killed football.” Perez also admitted “one of the English clubs were never really convinced”. “There was someone in the English 6 clubs who did not have much interest,” the 74-year-old said. “That started to affect the others, there was fear.” "I am a bit sad, disappointed. We have been working three years on this project, on fighting the current financial situation in Spanish football. It is easy to understand — you cannot touch La Liga, so you look for more money midweek and
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the Champions League format is obsolete. “The problem is they (Aleksander Ceferin) killed us the very next day, with terrible aggression. “We have made some mistakes for sure. But they knew what we were going to do, and were waiting for us. Those who do not want to lose their privileges. “The English Prime Minister said things, then the fans — people wanted to damage us. But when all this passes, and we see the reality, lets see what happens. “These clubs are going to lose millions of euros, and cannot do that, apart from those in England. “The founder clubs believed in this project. It is not dead. We will keep working.” Manchester City midfielder Ilkay Gundogan raised concerns over plans to change the Champions League by adding more matches, saying it was just the "lesser of two evils" compared to the ESL. Real Madrid, Barcelona and Juventus have not withdrawn from the ESL, although Juventus chairman Andrea Agnelli said the project could not now proceed. Barcelona president Joan Laporta echoed Perez's comments, saying a new competition is required to ensure the financial health of the game.
Laporta was named Barcelona president for a second time in March, taking the helm of a club in heavy debt. Javier Tebas, president of Spain's LaLiga, said: "If the Super League was good for football, as Perez has said, they wouldn't have done it behind our backs." On whether there would be sanctions from LaLiga for the Spanish clubs, Tebas added: "We are not talking about sanctions. "Everyone wants to cut people's heads off. We have to have a procedure and we have to see how it looks in the end. These clubs have been sanctioned by their own fans." Perez reiterated that the ESL was created "to save football", having also previously said the move had been made because young people were "no longer interested in football" because of "a lot of poor quality games". He added he was "sad and disappointed" by the reaction to the project, which the clubs have been working on "for around three years". He accused Uefa president Aleksander Ceferin and various countries' footballing authorities of "aggression" and "threats" towards
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the ESL. "I've been in football for 20 years and I've never seen threats like this. It was like we killed someone. It was like we killed football. But we were trying to work out how to save football." A revamped 36-team Champions League, starting in 2024, was agreed on Monday, although the ESL teams had said in its announcement of Sunday it did not think Uefa's reforms went far enough. "The Champions League format is old and only interesting from the quarter-finals onwards," said Perez. Laporta said talks with domestic leagues and Uefa remain necessary, and suggested the ESL would not be a closed off competition. "It must be an attractive competition based on sporting merits," he said. "We also will defend national leagues and we're open to having an open dialogue with Uefa. "We always want to improve football and have the necessary revenues to ensure football remains a spectacle. If the big clubs don't continue to have large revenues then football will suffer."..BD
"We will speak more about it when the time comes but for now we understand there is a need for it, even though our members will have the final say," Laporta told Catalan network TV3. "Big clubs contribute a lot of resources and it's absolutely necessary that we have our say on the distribution of money [in European football]." Businessday.ng
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SPORT
SATURDAY 24, APRIL 2021
LALIGA PREVIEW: TRICKY FIXTURES FOR FOUR TITLE CHALLENGERS
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ollowing an intense and exhilarating midweek round of LaLiga Santander action, the next chapter of the 2020/21 season is coming up straight away this weekend. It really is a four-team title race, with very few points separating Atlético de Madrid, Real Madrid, Sevilla FC and FC Barcelona, with the latter also having a game in hand, yet this weekend throws up very tricky fixtures for all four of the challengers.
On Saturday night, the first of the title challengers will take to the field as Real Madrid play Real Betis at Valdebebas. It was a thrilling 3-2 win for Los Blancos in the reverse fixture Seville earlier in the season and the matchups between these teams have produced a lot of entertainment in recent years. Over their past seven meetings, it’s three wins each and one draw so this is not a match the defending champions will be relishing, especially since former Real Madrid coach Manuel Pellegrini has his current Verdiblancos side competing so well. Neither of these teams have lost in their past five LaLiga Santander matches, so it could be tantalisingly tight. On Sunday, there is plenty more LaLiga Santander action and it gets going with SD Huesca vs Getafe CF. This is another huge relegation battle as this is a sixBusinessday.ng
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pointer between one team currently inside the bottom three and another hovering just above the relegation spots. Watch LaLiga Santander live this weekend on SuperSport LaLiga, DStv Channel 204. At 4.15pm CAT, it’s Villarreal CF vs FC Barcelona. This is a match between the league’s fourthtop scorers and the top scorers, while two of the Pichichi award contenders will be doing battle too as Gerard Moreno and Lionel Messi lead their teams’ equally dynamic front lines. Barça haven’t lost to the Yellow Submarine since 2008, but there have been some incredible draws since then, such as a dramatic 4-4 two seasons ago. The Catalans can’t afford anything less than three points at this stage of the season. At 6.30pm CAT, there are two games at the same time and one
of them includes title challengers Sevilla FC. They have just won four matches in a row, the last three of them all away, but they return home to welcome Granada CF to the Estadio Ramón Sánchez Pizjuán for an Andalusian derby. Sevilla will hope it’s home sweet home as they come back from their travels, but they know it won’t be easy against a team who defeated them 1-0 when they met earlier in the season. On Sunday night, with a 9pm CAT kick off, it’s a sibling rivalry as Athletic Club welcome league leaders Atlético de Madrid to Bilbao. These two teams used to be sister clubs, hence their similar names, but that won’t matter when the ball gets rolling as Athletic Club look to finish a turbulent season well and as Atleti keep their eyes on the prize, hoping to stay at the top of the standings.BD
SATURDAY 24, APRIL 2021
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