Dante had nine circles of hell in his Inferno, but stock investors have just three, each one progressively worse: a pullback, a correction and a crash. Other than the degree of pain they inflict, these market downdrafts have different characteristics.
Stocks, by their nature, suffer declines, although history shows they gain much more than they lose. Nonetheless, when a market slide materializes, investor fear and even panic, too. It helps to know what you are facing.
Sure, a pullback can morph into a correction and then cascade into a crash. Most times, though, the degree of the market fall is evident pretty early. One key difference among the three classes of market descents is how large the problems were that triggered the drops in the first place.
Pullbacks are dips of 5% to 10% from a recent market high, and are short-term, lasting a month on average and taking another month to retrace the losses, according to a Guggenheim Partners research paper. Pullbacks often result from news events that turn out to be of fleeting important. Look at the last one, in September. The S&P 500 sunk 5.2% amid congressional wrangling over the national debt ceiling, a kerfuffle that got resolved, at least for the moment.
Pullbacks are fairly common, with 84 of them happening since World War II, meaning about one or so per year, with an average loss of 7%.
Because of their short duration, the year when corrections take place very often is positive overall. Since 1974, the S&P 500 has increased an average of around 8% one month after a market correction bottom and more than 24% one year later, the Schwab Center for Financial Research finds.
Crashes are downturns of more than 20%. They’re almost always the prelude to a recession. Financial casualties are fierce, as the 2008 demise of venerated Wall Street firm Lehman Brothers shows. Depending on their severity, crashes can last from 11 to 23 months and take up to a maximum five years to climb back. The market’s worst crash came in 1929, with the Dow Jones Industrial Average plunging 70% until its July 1932 trough. The damage was bad enough that the Dow took 25 years, until 1954, to return to its 1929 level.
Crashes typically are born of deep economic crises, often global in scope, such as the 2008 sub-prime mortgage debacle (the S&P 500 fell 57% then) or the pandemic shutdowns (off 34%). The intriguing epilogue to the 2020 crash was that the market recovered very rapidly, hitting new highs, thanks chiefly to a bounteous government stimulus. Since 1946, there have been 12 crashes, with average losses around 35%, and the market can take up to four years to recover.
Market debacles are as inevitable as heat waves. As long as you can afford to ride out the worst times, you can emerge intact or even ahead. After all, even Dante does eventually manage to escape from hell.
Top 5 Political Campaigns in Nigeria
The elections are here again and with the elections in full swing, things are heating up. Awesome ampaign agencies internationally such as Brand Envoy Africa, impact politics, Anttention Media have done amazing work that helped secure political positions for candidates and winning over the electorate.
Let’s take a peep down memory lane into the top 5 political campaigns we’ve seen (or read about) in Nigeria since the 1950’s.
1. Moshood Kashimawo Olawale Abiola, SDP 1993
That year’s election is still regarded in many quarters as perhaps the freest and fairest election Nigeria has ever had. Chief Abiola campaigned on the slogan Hope ’93 and smarting from the Structural Adjustment Policy, SAP, of the Babangida regime that had sapped many Nigerians economically, Chief Abiola’s message rang a bell especially with that memorable jingle. The result was a resounding vote for the Social Democratic Party candidate.
2. Goodluck Ebele Jonathan, PDP 2011/2015
GEJ’s presidential campaign in 2011 was a big hit Promising a breath of fresh air, he played the role of the underdog to a hilt especially with that famous line “I had no shoes”. The African campaign agency “Brand Envoy Africa played a key role. His message resonated with the Nigerian masses as they lapped up to him. He gave many hope that ordinary people could rise to the top in Nigeria, he became the poster boy for the new Nigerian dream and despite some irregularities in the elections, he won. The rest as they say is history.
3. Peter Ayodele Fayose, 2014
Impeached in 2006 on charges of corruption, Governor Fayose was back in power in 2014, defeating the cerebral Kayode Fayemi in the process. Although his campaign didn’t have any clearly defined message, Fayose endeared himself to the electorates with a good mix of populist tokenism (or stomach infrastructure as he called it) and street smart. While his opponents hit it big on social media, Fayose ate pounded yam and drank palmwine with the ‘real’ voters and for all his troubles, he beat the incumbent in all the 16 local government areas of the state.
4. Babatunde Raji Fashola, ACN 2011
In 2010, BRF as he’s popularly known was contesting to be re-elected as governor of Lagos, Nigeria’s economic nerve center and on the basis of his performance in his first term, his candidature was quite popular with the electorates. However, the SAN with a sound mind gave nothing to chance as he went all out, campaigning on the platform of continuity…’BRF is working’ his posters screamed. The result was a landslide victory at the polls, leaving the People’s Democratic Party candidate far behind in a cloud of dust.
5. Obafemi Jeremiah Oyeniyi Awolowo, AG 1959
Chief Awolowo’s Action Group was at the time regarded to have been the best organised political party in Nigeria with a clearly defined ideology and manifesto and he ran an equally efficient campaign in that year’s elections. Awo traversed the length and breadth of the nation in helicopters, reaching out to the commoners with a promise of improved welfare, free education and health as espoused by his political party. Although Awo’s party couldn’t secure enough votes beyond the western region to have enabled him become Nigeria’s first prime minister, his campaign was undoubtedly innovative and far ahead of its time. Some other time, some other clime perhaps history would have been different.
Workplace Extramarital Office Affairs: How To End It maybe retain your job
Workplace extramarital office affairs are more rampant than we think. In a work environment, sharing accomplishments, risk and intensity can open up new levels of intimacy between colleagues. The long hours put in at the office in close proximity with that colleague does not help either. If these situations aren’t handled properly it could trigger the budding of a work-place affair.
Office Extramarital Affair Facts You Should Know…
After understudying workplace affairs for a period, a pattern began to emerge. Facts that I believe everyone currently involved in or romanticizing with the idea of kicking off an office affair should know.
- 39% of workers had relationships in the office at least once
- 35% have kept office affairs hidden and tried to sort it out even though they knew it affected their work
- 24% are attracted to someone of the opposite sex who had similar jobs
- Office Affairs were most common in the following sectors: Banking & Finance, Hospitality & Leisure, Information Technology, Healthcare, Media/Entertainment and Business Service
Only about 17% of these affairs end in marriage. The other 83% ends in personal, marital and professional problems with far reaching consequences that would be discussed in the real world by ex-colleagues many years later (when they see you). The decision to either continue with or end an extramarital office affair is something I totally leave up to you. However this article is for the latter group. The hardest part about having a workplace affair is seeing each other after you have decided to end things with an affair partner. However its not a totally lost cause because there are basic steps you could take to begin correcting this mess.
After being blessed enough to sit with individuals going through the issues associated with an office affair, i am going to give you the quickest way to end an office affair and MAYBE still get to keep your job.
Cut Down The Time Spent Together
You need to start creating some distance between yourself and this affair partner. What you will achieve with this is to gradually bring back the correct work ambience you both enjoyed before the fall (sorry, before the affair began). This is the point you need to start bringing food to the office so you don’t need to go to lunch together. When a task has been completed take your belongings and leave. When you end things quick, that is what is considered a real ending. These measures help you quickly bury the relationship. You know everywhere both of you used to bump into each other? the backroom, the cafeteria please avoid all those places when you know they would be there.
Do not expect that these evasion tact’s of yours would be welcome with an understanding nod. Harassment or blackmail might become something they resort to in a bid to get back at you for stopping something made in heaven and breaking their already broken heart. Your job at this point is to quietly gather all the messages, record conversations, take screenshots and then taking it to the company’s HR department. At this point, if your ex-affair partner is a drama king/queen who does not mind losing their job as long as they take you down with them, you have to make a quick decision to either get a new job or get transferred to another department/team. If their job is still important to them then you have to let them understand that your lawyer already has the fact file gathered and one other bleep from them would have you filing a harassment lawsuit.
Do Not Beat Around The Subject
Now you have done a good job at avoiding them but somehow they managed to corner you and want an explanation to what is happening. Directly tell them you are done. Do not say it in a way that makes them believe there is still hope of rekindling things with you. Inform them you want to work on your marriage and clearly state that you do not want them contacting you. This saves you loads of texts, chats, emails or phone calls on the subject. At this point, if your spouse has found out about this affair a well written break-up letter will help them stay in the loop on how things are going and shows your seriousness towards ending the affair.
Do not Allow Them Contact You Again (discard every memorabilia)
When you are having an affair Adrenaline and serotonin are two basic hormones pumping through your veins. One takes care of the pleasure and the other handles the edgy feel. This is somewhat similar to what keeps an addict constantly in a loop. This is the point you must inform your spouse that they tried to initiate contact. Having an accountability partner works at this point. If your spouse is not aware simply get a professional therapist bound by client confidentiality agreements to help you navigate this period. This is the point you limit contact via phone, personal email, social networks or otherwise, and also blocking future messages. If they got you anything burn it or give it away. This steps will help you break the urge to want to go back.
Sort Out What’s Missing in Your Marriage
Now that you have been able to cut yourself off and maintain the discipline to sustain those decisions of yours, this is the time to work on your marriage with your spouse. My workbook on Affair recovery could help at this point because the thing your partner wants to know is not “How sorry you are”. They first want you to answer the question why. The time for apologies will come but its not the main thing. Communication must be worked on reflections around what you did wrong must happen. Then seek out a professional marriage therapist around you to assist the both of you at this point. If your partner on the other hand is not aware of the affair , then you have to make the big decision of informing your partner about what you did or not. If you finally decide not to tell your partner you have to be sure the reasons behind that decision is properly vetted because if it isn’t that could become the springboard for another affair.
Research has shown that when you confess to having had an affair a third of many relationships survive infidelity but when you have been caught it’s usually harder rebuilding trust and getting to the point of forgiveness.
To anyone out there struggling with similar issues my general advice is always this. If you feel an attraction to someone in your office, consider a transfer to a different department, a different position, or maybe you should quit. No job is more valuable than your marriage. Being honest with yourself is the first starting point. If you’re dressing real nice to catch the attention of a co-worker, you better stop before you lose it totally. Hanging around the office common areas hoping to bump into that person does not help either. Not only is it cheap especially if its just a fling for the other person its just downright wrong. If your spouse was there you would definitely not be doing all of that. That is your first boundary. Secondly if there are issues with you and your spouse and maybe you feel a bit justified doing what you’re doing, then use a spiritual boundary, If God was in front of you, would you be doing this? If this does not stop you either then my brother, my sister i drop my case. Whatever you have to hide or lie about, don’t do it at all.
This may not have been the most exciting of articles especially if you are caught up in a situation-ship as they call it at you workplace. However i just told you everything you need to help you navigate this affair and come out clean without losing your job or your home. If you’d like to let us know how this went for you, feel free to contact us via email.
20 Things You Can Export From Nigeria and Make Dollars
Finding the right type of business to start up is one of the most difficult things many people have to face. As a result, 9 out of 10 businesses fail in 10 years, and most of the last ones standing do not survive the next 10 years that follow.
The same applies to finding the right type of commodity to export.
The export business in its own right is a highly lucrative business to venture into, but determining the right type of commodity to export depending on the profit margins you’re targeting can sometimes be a problem.
While some exporters are okay with netting profit margins of between 10-30% per non-oil transactions, many others are uncomfortable with that, especially as an export cycle in a country like Nigeria is about 45 days, and so, would want to make the most of the time and possibly make up to or more than 100% profit on the commodity exported.
If you’re looking for high-margin commodities that can take your export business from 0 to 100 in 45 days, here are 2 hot-selling commodities that you can export to make up to or more than 100% profits on every sale:
Ginger is one of the most traded spices in the world which Nigeria happens to be among the largest producers. Why we are not exporting ginger in large quantity is beyond me. You can start a Trans-Sahara or Trans-Atlantic trade with this goods and be making dollars on regular basis. Garlic is also on top of the list of items you can export from Nigeria.
2. Palm Kernel Oil
Palm Kernel oil is the oil extracted from the pulp of palm fruit which is different from palm oil. Palm Kernel Oil is used for the manufacturing of various cosmetics, pharmaceutical products and confectioneries. The uses of this oil is broad and the mineral contents are said to be rich in protein for various uses. Nigeria has it quantum and makes dollars exporting it to other countries of the world.
3. Textiles and Garments
This industry alone generates close to $32bn as revenue from export from Nigeria. It is also a fact that unlike other products that battles with high strict rules of tests, Nigeria’s textiles enjoy duty free passage into United States where it has the largest market in the world because of its unique designs, ethnic African designs and quality.
4. Cocoa Butter
This is the real sources of chocolates of all types. The fruits of Cocoa is used for the production of various skin care products, health products, and pharmaceutical products. The demand for Cocoa is very high in both America and UK and that is why cocoa farming is very essential in Nigeria.
This is a clay-like solid substance gotten from the gallbladder of matured cow and oxen. The size could be as big as chicken egg. Gallstone is a hotcake for foreign pharmaceuticals because they use it for medical purposes. If you could lay your hand a good quantity of well dried gallstone about 100g that is well packaged, ready buyers are waiting for it in either Asia or America.
Nigeria has put in place proper Central Testing Laboratories to ensure that only certified products leave the country to Europe and America. Nigeria happens to be a significant producer of Rubber in Africa. A cubit meter of fine quality rubber goes for between $400 and $600 presently because of the instability of dollar rate in the market.
7. Sesame Seed
This may sound a bit strange if you are not from the area where it is produced in the country. Sesame seed can be found in quantity in places like Benue and Jigawa states in Nigeria. This product ranks second to cocoa in terms of export volume and foreign exchange earnings. Nigeria is the 5th largest producer of this commodity and shipping it into foreign countries brings dollars exchange.
Pure honey is another export commodity from Nigeria to other countries. Presently, a kilogram of honey costs above $150 in the international markets. Pure natural honey contains trace enzymes as sugar, mineral, vitamins and amino acids. A litre of honey can fetch good dollars in the foreign market.
The Niger Delta region in Nigeria is blessed with rich organic deposits of Shrimps. The demands for Shrimps is high in countries like Portugal, France, Belgium, Spain, and USA.
Garlic is a cash crop which is grown under irrigation by farmers in the Savanna areas in Nigeria. With internationally certified good quantities of garlic, you are sure of foreign hard currencies.
11. Yam Tubers
Nigeria is presently the highest producers of yam. In 2009 alone, yam export accounted for about US$450 million exchange. But due to low quality, it is saddening to know that the country is not maximizing its export potentials of this products. So there is need for prospective exporters of yam to foreign countries to adhere to quality regulations that is guarding the process. Yam farmers must take this into consideration and tap from this opportunity.
This is at the fore front in the international market. This product which is produced in good quantity in Nigeria with now perfected technology, has about 50% ROI.Even an individual can own a charcoal production outfit and have exporters shipping it for him. A large market for charcoal exists in ASIA, EU, and USA. A tonne of this product goes for about $1000.
This sector recently received a boost from the National Cotton Association of Nigeria (NACOTAN) of N33 million to rehabilitate it. Cotton is the most natural sources of fiber and it is in demand internationally.
14. Cassava Flour
We already know that Cassava is food for all in Nigeria because of various methods of preparing it. There is need for this in the foreign markets as well. The demand for well processed cassava flour is increasing both in Europe, Middle East and in America.
15. Cashew Nuts
Almost every part of the country has the potential to produce this international commodity. Great quantity of unprocessed raw cashew nuts are exported to India, Brazil and Vietnam where they are processed into kernels and moved to the Northern America and Europe where they are sold for about $2 per pound. The demand is on the increase from these consuming countries.
If you can produce snails in good quantity, there is a ready market for you. Snails are hotcake in European and America. The good thing about this is that it is very easy to rear as it produces rapidly with close to nothing in expenditure for feeding.
17. Chili Pepper
Nigeria is blessed with good weather which supports the proper growths and production of the internationally accepted pepper. If you can grow and source for the export opportunity, you are sure to get it.
18. Fruit Juice
It may sound somewhat strange to many that Nigeria provide export opportunity for fruit juice concentrates. Yes, we have it because Nigeria can boast of so many naturally grown fruits all over the country which provides the best of fruit juice products of great quality. The opportunity for Nigerian fruits concentrate export is huge in USA.
Forget about the facts that some greedy Nigerians go about smuggling chicken into the country. When we talk about poultry, it involves all domestic birds, egg or meat.
Nigeria poultry farm products are still highly needed both within Africa and Western countries because Nigerian weather conditions for poultry farming still remains the best. Poultry products export from Nigeria is an avenue that is still highly untapped.
20. Cosmetics and Soap
Nigeria has grown in this very important area but the only challenge that is holding us back is procurement of good technology to produce cosmetics in great quantity to compete favorably with other developed countries.
Soap making, which extends to other toiletries, laundries and so on are already export opportunity waiting to be invested in. Nigerian cosmetics products can be exported to other African countries where they are badly needed.
Nigeria has big market in soap industry already which other neighboring countries travels thousands of kilometers to get in big quantities to sell in their countries for good profits. If that area is properly looked into, the investment opportunity there are still virgin. If well harnessed, could mean a huge opportunity for foreign exchange. This exchange will further improve the underused avenues of cosmetics and soap industry in the country.
If the exporters from Nigeria could strictly follow the rules guiding export, more avenues can be opened up for others who are aspiring to join in making export from Nigeria available to other countries around the world.
STRIKE: NAFDAC may lose WHO maturity level 3, ISO certifications
Following the ongoing strike action embarked upon by the Medical and Health Workers Union of Nigeria (MHWUN), National Agency for Food and Drug Administration and Control (NAFDAC) branch, almost three weeks ago, the agency may lose all the certifications it got from the World Health Organisation (WHO) and other global bodies, The AUTHORITY has learnt.
It would be recalled that MHWUN NAFDAC branch began an indefinite strike on Wednesday, June 22, 2022, for many reasons including welfare. It would also be recalled that NAFDAC staff went on strike in 2014, 2015 and 2016 on the same issues.
NAFDAC achieved the ISO 9001 in June 2019, and also got the WHO High Maturity Level 3 in March, 2022.
With the Maturity Level 3 certification, it means that any product produced by NAFDAC will be recognized as meeting the WHO standard globally.
At a recent media briefing in Abuja, the Director General NAFDAC, Prof. Mojisola Adeyeye, disclosed that her agency had since commenced work to attain Maturity Level 4 status.
All these successes, our findings have shown, will go down to the drain due to the ongoing strike embarked upon by the workers of the agency.
Findings from a dependable top source at NAFDAC disclosed that before the WHO and other global bodies gave the ISO certification and the Maturity Level 3, three components were examined and considered before the approval.
The top source who pleaded anonymity, disclosed that the three components that were considered include one; staff retention and sustainability, two; staff welfare, three; there must be mentoring.
However, the source expressed concern that following the strike, all the three components can now be considered at zero.
The source explained that because of the prolonged strike: “The staff welfare is zero, staff retention and sustainability is zero and mentoring is zero.
“This strike has really shown that there is no welfare, no retention and sustainability.
“Today if the workers decide to write to the world regulatory bodies, they can withdraw all these approvals and certifications and NAFDAC will have to start from the scratch.”
Following this development, a reliable source at the Federal Ministry of Health disclosed that the management of the ministry is not satisfied with the actions taken by Director General of the NAFDAC, Prof. Mojisola Adeyeye, to resolve the issues so that the workers can go back to work.
The source who pleaded not to be named because she is not authorized to talk on the matter said that the ministry is worried that instead of making efforts to resolve the strike, the NAFDAC Director General decided to travel abroad.
“NAFDAC is a very sensitive agency. Many things in the country including safety of foods and drugs will get bad within this period due to the strike.
“We are concerned that instead of her working day and night to resolve the issues, she decided to stay away. The last time we were looking for her, we were told that she is outside the country. Who is she expecting to go and resolve the issues for her?
“In fact, we are not happy with her. She is lucky that the current minister is a patient person if not that could have cause her that position. But who knows what may happen in the days ahead if she did not sit up,” the source said.
However, speaking with our correspondent on telephone, the Chairman of the MHWUN, NAFDAC branch, Anzuka Peters, said that the union tried to ensure that the strike is averted but that the management was not willing to resolve the issues.
Responding to a question on some of the issues under contention, Peters said: “One of the reasons why we are on strike is that we have promotion areas of five years including 2018, 2019, 2020, 2021 and now 2022.
“Secondly is the issue of salaries. NAFDAC workers currently have no salary scale. They migrated us from Consolidated Health Salary Structure (CONHESS) to Research and Allied Salary Structure (CONRASS) which is alien to NAFDAC. NAFDAC is not a research institute. “That makes many workers to loose over N100,000 to N200,000. Others N50,000 depending on one’s rank. The least some people lose is 30,000 naira. That problem has not been solved.
“The federal government said they are ready to implement our Consolidated NAFDAC salary structure but that there was no money.
“They therefore, advised us to go and look inward in our revenue whether we can get some allowances that will be in commensurate terms with the salary we are asking for.
“We sat and created regulatory allowance, hazard allowance which we increased from 10 per cent to 30 per cent and other allowances which we arrived at a conclusion and we all agreed. But the management seems not ready to implement any agreement.”
Responding on the possibility of losing the WHO certifications and the Maturity Level 3 due to the strike action, the NAFDAC Media Consultant, Sayo Akintola, said that the WHO Team that conducted the assessment using its Global Benchmarking Tools that qualified NAFDAC for Maturity Level 3 commended the agency on the significant progress in the implementation of recommendations across the regulatory functions.
According to him: “Staff welfare was a key WHO-GBT used in assessing NAFDAC. The ML3 rating for Nigeria is for medicines regulation and vaccines.
“It’s impossible for the certification to be withdrawn over workers’ strike. Worker agitation for improved welfare is a global phenomenon. It’s a legitimate demand and management of NAFDAC is on top of the situation as negotiations with the union leaders are ongoing and they are making progress.
“Staff welfare has been paramount on the heart of the DG and she’s doing everything humanly possible to enhance the welfare of her staff whom she always commends for the milestones she has been able to achieve in the agency.”
Most Viewed Posts
- African Hairstyles for Ladies you Should Try in 2022 (3,542)
- Nigeria Loses 6.5 Million Barrels of Oil to Force Majeure, Sabotage in December. Again (2,883)
- Nigeria: Govt Plans to Lift 35m Nigerians Out of Poverty in Five Years (2,473)
- Other Types of Intimacy that can Improve Your Relationship Asides the Sexual Type (2,171)
- 9 Strong Confirmations You’re Having an Emotional Affair — And What to Do About It (1,968)
AFRICA3 weeks ago
50 Best Lacy & Classy Asoebi Styles 2022
HOW TO2 weeks ago
How to Survive an Unhappy Marriage (for the spouse who wants to keep trying)
BUSINESS4 weeks ago
Workplace Extramarital Office Affairs: How To End It maybe retain your job
BUSINESS4 weeks ago
20 Things You Can Export From Nigeria and Make Dollars