Dear Subscriber,

Don’t fall for the counteroffer trap!

In the corporate world, a counteroffer is simply a tactic of moral coercion deployed by an employer to prevent an employee from resigning. According to a study by the Wall Street Journal, 33 top executives were given counteroffers, 27 accepted the offers. However, two years later only two of the executives were still at their jobs. It is believed that such counteroffers are often temporary and lack authenticity. The onus is on the employee to determine the response to such offers in a tactical and professional manner. The Lifestyle Section of this Digest offers the different reasons why young professionals must watch out for the trap and remain dogged in their quests for career advancement.

Nigeria moves up 15 places on Ease of Doing Business Index

According to the World Bank Ease of Doing Business report, Nigeria moved up 15 places to rank 131st (out of 190 countries) from its previous position of 146th. This is proof that the efforts of the Presidential Enabling Business Environment Council (PEBEC) are yielding positive results. However, if Nigeria is to achieve its desired goal of breaking into the ‘top 70’ in Doing Business by 2023, there are some tough but necessary decisions that must be made. Addressing power shortages, access to credit and multiplicity of taxes would go a long way in providing an enabling business environment.

This issue contains an analysis of recent economic and social developments such as World Bank’s Ease of Doing Business report, the war between the telecommunications sector and the banking sector and new World Bank loan to Nigeria’s power sector. Also, look out for social news such as the Headies Awards and the new longest commercial flight record.

It promises to be an informative and entertaining read.