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How Laolu Martins, Bukka Hut Boss Committed Suicide After Losing A Bet Review!
.On Wednesday, September 28, 2022 will not be forgotten in a hurry as it was a very sad day as a very sad day for family members, friends and well wishers of one of the owners of a popular restaurant chain, Bukka Hut, Laolu Martins as he reportedly committed suicide in the early hours of the day.
While many were still confused about his sudden death, a renowned theatre producer and investment banker, Joseph Edgar, aka The Duke of Shomolu confirmed that the CEO of NISL Ventures slipped into depression after losing a bet.
The family of Laolu Martins said in a statement that was released on Wednesday that the quintessential banker with over 21 years of experience in investment banking, corporate banking, stockbroking, asset management and pension fund management, died in the evening of Tuesday, September 27, 2022.
“We hereby solicit the support and understanding of everyone as the family grieves the loss of our beloved Laolu in our privacy.
“Our kind request is that you support the family – wife, children, aged mother and father and his siblings with your prayers at this difficult time.
“Further announcements will be made by the family,” the statement said.
Martins started his career with PricewaterhouseCoopers in 1999.
He joined Investment Banking & Trust Company Plc now Stanbic IBTC Bank Plc where he served in the Financial Control and Trade Finance/Foreign Operations units of the Bank before being seconded to Stanbic IBTC Asset Management Ltd where at various times he was Financial Controller, Head Asset Management and lastly Head Stockbroking.
He later resigned in 2005 to join Shell Nig. CPFA Ltd, the Fund Manager of the Shell Companies in Nigeria Pensions Scheme where he was Head, Investments up till 2008 when he resigned to join Nigeria International Security Limited, NISL, an independent financial services firm specialising in investments within the Nigerian space.
In a tribute titled; “Laolu Martins – sad end to a beautiful life,” Edgar wrote:
“I just got a call from my sister Ore. Edgar see what i am seeing o. Pls check if its true.
“It was a post about Laolu. He was said to have committed suicide at 3am this morning in Lekki.
“I screamed. Made a call and confirmed the incident.
“They said he had taken a bet against the dollar and with this rubbish going on in the forex markets he lost big time and may have slipped into a depression leading to this.
“These are not confirmed but what is confirmed is that Laolu is no more.
“Laolu was brilliant. A stockbroker, Asset Manager and an Investment banker.
“I first met him while he was at Shell Trustees. He was a brilliant Fund manager who used to give me business.
“I was then in BGL and had pencilled down Shell Trustees, First Trustees and NPA Superannuation Fund to break
“I had broken the other two with First Trustees where the super brilliant Ekure was the MD and NPA where the late man about town Henry Abebe was head
“But Shell was tough. You cdnt even enter their office talkless of breaking anything.
“So, i got Laolu’s email and sent him a passionate mail telling him why he needed my services if he was going to make a mark at Shell.
“He replied and gave me an appointment and there started a beautiful friendship.
“I watched him grow. Saw him aquire NISL and go into the Fast Food business with his partners as they opened Buka Hut all over the place.
“He started supporting my plays and he will be calling me to ask if i wont come for sponsorship since his money was ‘small’.
“Then i stopped hearing from him. Calls where not returned but i didn’t mind since i could see that he was doing well.
“They had just opened a new outlet at keffi and i was proud of him and his people
“Then i went to eat Afang at the new Just Afang restaurant in Ikoyi beside his office and branched to ask him to join me.
“He wasn’t in the office and still didnt take my calls so i left him since i didnt even knw the cost of the Afang bf i go and shoot myself
“So you can imagine my shock as i hear this story this morning. This last night o, Laolu jumped and left.
“Whatever has led to this, is really not worth it. But then again, people have different constitutions and mental aptitude
“This is why we must be kind to each other. Reach out, call people ask after their well being
“Much more importantly. If you have a problem, shout. Ask for help, seek advice. Dont be quiet shout.
“If Buhari with all the problem of this country on his head is still seating comfortably in Aso rock with tootpick in his mouth, why would you now with your own small problem come and jump
“This is really sad. Really really sad.
“Kai. May his soul rest in peace.”
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Tinubu @ 3: How REA Is Expanding Energy Access to Support Nigeria’s $1 Trillion Vision
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For decades, achieving economic independence in Nigeria has been limited by a fundamental deficit: access to reliable electricity.
In rural and peri-urban communities, often referred to as the “last mile,” small businesses, agro-processors, and households have historically survived on costly, polluting petrol generators or lived in complete darkness. However, a silent revolution has been taking place across the country. Led by the Rural Electrification Agency (REA), decentralized renewable energy solutions are systematically closing the energy gap. Driven by bold policy shifts and unprecedented private sector funding, the REA’s mini-grid solutions are not just illuminating homes, they are serving as a critical infrastructure backbone to catalyze the Central Bank of Nigeria’s (CBN) ambitious target of achieving a $1 trillion economy.
This rapid transformation underscores the strategic vision of the current administration. As President Bola Ahmed Tinubu marks his third year in office, this milestone stands as a testament to his administration’s foresight. By recognizing early on that the fragile national grid could not single-handedly carry the weight of Nigeria’s industrial ambitions, the President prioritized decentralized energy solutions to intentionally ease the burden on the national grid.
Of notable mention is Mr President’s appointment of Dr. Abba Aliyu as the Managing Director of the REA. Abba’s appointment has injected a much-needed dose of technocratic competence, corporate governance and execution speed into the agency, effectively turning a bottleneck into a launchpad for national growth.
Historically, the mention of the REA in Nigeria’s public discourse was frequently tied to headlines of systemic corruption, contract inflation, and abandoned projects. For years, the agency operated as a black box where public and international donor funds vanished into ghost electrification schemes, leaving rural communities in perpetual darkness.
Today, transparency has become the order of the day. At the heart of this institutional transformation is the deployment of advanced digital data platforms including the REA Project Monitoring and Performance Hub (MPH), the Nigeria SE4ALL web platform, and specialized tracking architectures managed alongside data partners like Odyssey. By utilizing real-time IoT (Internet of Things) remote monitoring and data portals, the REA tracks precisely how much power is generated and which communities are connected. This data-first architecture ensures full accountability to international donors, eliminates ghost projects, and guarantees that disbursements are strictly tied to verified performance.
Under the leadership of Dr. Abba Aliyu, Nigeria’s off-grid sector has undergone a massive structural shift, moving from a heavy reliance on imported technology to becoming a regional manufacturing powerhouse. Driven by deliberate government policies aimed at de-risking private capital, Nigeria’s installed local solar panel production capacity has skyrocketed from 120 megawatts (MW) to approximately 300MW.
With an additional 3.7 gigawatts (GW) of capacity currently in the development pipeline, Nigeria is fast positioning itself to anchor West Africa as a renewable energy manufacturing hub. Locally manufactured solar panels are already being exported from industrial corridors like Lagos to regional neighbors like Accra, Ghana.
This domestic manufacturing surge is underpinned by a groundbreaking regulatory environment. The Nigerian Electricity Regulatory Commission’s (NERC) Mini-Grid Regulations have expanded the allowable capacity for interconnected mini-grids to 10MW. By defining exactly how mini-grids interact with the main national grid, Nigeria has established one of the most progressive and investor-friendly regulatory frameworks in Africa, one that is currently being studied and replicated by countries like Mozambique, Benin Republic, Burkina Faso, and Niger.
At the center of REA’s current aggressive rollout is the Distributed Access through Renewable Energy Scale-Up (DARES) programme, widely recognized as the largest publicly funded renewable energy access initiative globally.
DARES is an ambitious $750 million initiative structured to pull an additional $1.1 billion in private sector investments through a results-based financing model. Under this mechanism, private developers must fully mobilize and deploy their own capital to build functioning energy infrastructure before unlocking financial incentives.
The impacts of the DARES initiative are aggresively mapped toward radical socio-economic transformation, aiming to provide clean, reliable electricity to over 17.5 million Nigerians, power over 2.5 million households across the federation, and launch 1,350 mini-grids, including 250 interconnected systems.
As at today, over 1000 mini grids are being developed across the country. Additionally, 48 Interconnected mini-grids are being deployed that will inject additional 288MW of clean reliable capacity are being deployed in collaboration with 11 Distribution Companies.
The REA has gone further to unlock private finance through partnerships with institutions like FCMB, Lotus Bank, and the International Finance Corporation (IFC), creating an expansive, decentralized energy ecosystem capable of sustaining itself long after public funds are exhausted.
The expansion of last-mile electrification directly intersects with macroeconomic objectives. The CBN’s blueprint for a $1 trillion economy relies heavily on boosting productivity in agriculture, expanding MSMEs (Micro, Small, and Medium Enterprises), and scaling up local manufacturing. The REA’s mini-grid solutions act as an economic multiplier for this vision in three distinct ways.
Firstly, it unlocks the agricultural value chain.
A significant portion of Nigeria’s wealth resides in its rural agrarian communities, which suffer from high post-harvest losses due to a lack of cold storage and processing facilities. By deploying solar mini-grids to agricultural hubs, the REA enables the operation of solar-powered mills, irrigation pumps, and cold storage units. This transitions subsistence farming into a commercialized, high-yield industry, drastically boosting rural GDP contribution.
Secondly, it reduces MSMEs operating costs.
High inflation and currency fluctuations heavily penalize businesses reliant on imported fuel for generators. Replacing petrol and diesel with predictable, cheaper solar energy immediately frees up operational capital for millions of small businesses such as salons, tailoring shops, welding centers, and healthcare facilities. These saved costs are directly reinvested into expanding operations and hiring more local labor.
Furthermore, the scale-up of mini-grid capacities to 10MW allows for the strategic deployment of large solar farms in border towns. This positions Nigeria to engage in cross-border electricity trade, selling off-grid power to neighboring West African border communities. This opens up entirely new foreign exchange revenue streams, strengthening the Naira and boosting regional trade volumes in line with sub-regional economic integration goals.
In addition, the REA signed a $700,000 Memorandum of Understanding (MoU) with the Economic Community of West African States (ECOWAS) Commission to electrify healthcare centers and 15 public universities across the Federal Capital Territory (FCT), Niger, and Nasarawa states. This initiative has already begun yielding tangible results, with active projects rolling out across institutions like the Federal University of Technology, Akure (FUTA).
The Rural Electrification Agency’s mini-grid solutions have evolved beyond basic social welfare into a primary driver of industrialization and economic formalization. By taking electricity to the last mile, the REA is activating trapped economic potential in regions that the traditional grid could not reach.
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Eid-el-Kabir: Let’s Peace, Unity And Selflessness Be Our Watchword, Olowu Urges Muslim Ummah, Nigerians
Olowu of Kuta, HRM Oba Dr Hammed Makama Oyelude, CON, Tegbosun iii, has urged muslim Ummah and Nigerians to let peace , unity and selflessness be their watchword as the world observe the Eid-el-Kabir
The reverred monarch in his sallah message said Eid-el-Kabir remains a highly spiritual occasion that calls for dedication, commitment, and selflessness.
According to him, ” this is the time to reflect on the going on around us and preach messages of hope and unity devoid of any provocation.”
Oba Makama urged Nigerians to live together peacefully, irrespective of religious, political, and tribal affliation.
While calling on politicians to exercise restraint and refrain from any rhetoric that may inflame passion as we approach 2027 general elections, Oba Makama said what should be uppermost in the mind of every patriotic Nigerian is “Country first.”
The monarch, while wishing every Nigerian a peaceful celebration, maintained that people should be vigilant and not be overwhelmed by the insecurity, adding that armed forces and other para military forces are working round the clock to ensure hitch free celebration.
” The price wise men pay for eternal liberty is to be vigilant. I urged everyone to be moderate in celebration and reach out to the less privileged, widows and orphans “as our brothers and sisters keeppers,” Olowu added.
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Tinubu Emerges APC Presidential Candidate After Nationwide Direct Primary
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….President Tinubu polls 10,999,162 votes, declared winner.
The ruling All Progressives Congress (APC) has declared President Bola Ahmed Tinubu the winner of its presidential primary election ahead of the 2027 general elections.
The party commenced the collation of results from its nationwide presidential shadow election at the Bola Ahmed Tinubu International Conference Centre in Abuja following the conclusion of voting on Saturday, May 23.
In a significant shift from the delegate-based system often associated with controversy, the APC adopted a direct primary method for the exercise. The election was conducted simultaneously across the party’s 8,809 wards in the 36 states and the Federal Capital Territory (FCT).
Under the direct primary system, all registered members of the party were eligible to vote for their preferred presidential aspirant, a move party leaders described as part of efforts to strengthen internal democracy and encourage wider grassroots participation.
The final stage of the process is being supervised by a seven-member Presidential Primary Election Committee chaired by former Senate President, Senator Anyim Pius Anyim.
Other members of the committee include former Senate President Ken Nnamani, Grace Titi Laoye-Ponle, former Speaker of the House of Representatives Yakubu Dogara, former Kogi State Governor Idris Wada, and Sanusi Musa, who serves as the committee secretary.
The atmosphere at the Bola Ahmed Tinubu International Conference Centre remained charged as governors, party chairmen, and designated collation officers arrived to present certified results from their respective states before the Anyim-led committee.
Governors coordinating the exercise in their states took turns presenting the official results as the party concluded the nationwide primary process.
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