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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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SWITZERLAND PLEDGES SUPPORT FOR NIGERIA’S BID FOR IMO CATEGORY ‘C’ SEAT, Says Oyetola

Nigeria’s quest to secure a Category ‘C’ seat on the International Maritime Organization (IMO) Council for the 2026/2027 biennium received a major boost today as the Government of Switzerland formally pledged its support.
The Honourable Minister of Marine and Blue Economy, H.E. Adegboyega Oyetola, CON, received the letter of endorsement during a courtesy visit by the Swiss Ambassador to Nigeria, H.E. Patrick Felix Egloff, at the Ministry’s headquarters in Abuja.
Expressing his delight, Oyetola described the Swiss government’s backing as “a significant milestone in Nigeria’s campaign and a strong testament to the Federal Government’s commitment to upholding international maritime standards.”
According to the Minister, Nigeria’s election into the IMO Council would further strengthen global efforts towards building “a more robust, safe, and sustainable maritime industry.”
Highlighting Nigeria’s maritime potential, Oyetola disclosed that the country boasts 200 nautical miles of Exclusive Economic Zone and an extended continental shelf of 16,300km, positioning it as a strategic maritime nation.
“With these vast endowments, Nigeria, by any standard, is a maritime nation. That’s why the Ministry, in collaboration with the World Bank, AU-IBAR, the Kingdom of Norway, and other stakeholders, has developed a comprehensive National Policy on Marine and Blue Economy capable of standing the test of time,” he stated.
Oyetola further revealed that the Federal Government is adopting a Public-Private Partnership (PPP) model to drive rapid investments in the maritime sector. These include inland waterways development, supply of boats, dredging, and navigation infrastructure.
On maritime security, the Minister emphasized the success of the Deep Blue Project, Nigeria’s state-of-the-art surveillance initiative:
“For the past three years, there has been zero piracy in our waters, and we’re committed to sustaining this achievement. We’re also working with other Gulf of Guinea countries to extend safety and security beyond our national waters.”
In his remarks, Ambassador Egloff noted that Switzerland’s decision to endorse Nigeria followed an earlier request from the Ministry in April 2025.
“I’m very glad to convey this letter of support. Switzerland is very happy to stand with Nigeria. You’re a strong candidate, and we appreciate your commitment to multilateralism and the maritime sector. Nigeria plays a very important role globally,” he affirmed.
With Switzerland’s endorsement, Nigeria’s campaign for the IMO Category ‘C’ Council seat gains further international momentum ahead of the elections slated for October/November 2025.
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Update : JUST IN: Tinubu returns after Japan, Brazil trips

President Bola Ahmed Tinubu returned to Abuja around 1:20am on Thursday after concluding a three-day state visit to Brazil that yielded a raft of bilateral agreements and high-level engagements aimed at deepening Nigeria’s economic and diplomatic ties with South America’s largest economy.
The President, who arrived aboard the presidential jet, was received at the Presidential Wing of the Nnamdi Azikiwe International Airport by a high-powered delegation of political leaders and senior government officials.
Among those present were Governors Caleb Mutfwang (Plateau); Uba Sani (Kaduna); Hope Uzodinma (Imo) and AbdulRahman AbdulRazaq (Kwara).
Also on hand to welcome the President were Speaker of the House of Representatives, Tajudeen Abbas; Deputy Senate President, Barau Jibrin; Chief of Staff to the President, Femi Gbajabiamila; National Security Adviser, Nuhu Ribadu; and some Ministers, including Nyesom Wike (FCT); Abubakar Atiku Bagudu (Budget and Economic Planning) and Bello Matawalle (Defence, State).
President Tinubu’s visit to Brazil was marked by the signing of five Memoranda of Understanding (MoUs) covering aviation, trade, science, diplomacy, and finance.
At a joint press conference in Brasília, he welcomed the imminent return of Petrobras, Brazil’s state-owned oil giant, to Nigeria—five years after it halted its joint ventures.
“We have the largest gas repository. So I don’t see why Petrobras doesn’t join as a partner in Nigeria as soon as possible. I appreciate President Lula’s promise that this will be done,” he said.
The agreements also included a Bilateral Air Services Agreement, paving the way for direct flights between Lagos and São Paulo, to be operated by Air Peace.
Other MoUs targeted political consultations, scientific collaboration, and agricultural financing through Nigeria’s Bank of Agriculture and Brazil’s National Bank for Economic and Social Development.
Beyond the MoUs, President Tinubu underscored his administration’s economic reforms, assuring Brazilian investors of a stable, transparent financial climate.
He cited Nigeria’s capital market growth as evidence of renewed investor confidence and pledged continued reforms to “unlock capital, protect investors, and drive innovation.”
In a meeting with Nigerians in Brazil, Tinubu called on the diaspora to contribute actively to nation-building, pledging technology-driven development and food security as the pillars of a prosperous future.
“We must bring Nigeria to the forefront of Africa’s progress, driven by technology, food sovereignty, and the courage to change our destiny,” he told the gathering.
The visit, which featured red-carpet honours, bilateral meetings with President Luiz Inácio Lula da Silva, and cultural engagements, signalled what both leaders described as a new era in Nigeria–Brazil relations.
Tinubu’s state visit to Brazil was preceded by his participation at the recently concluded ninth edition of the Tokyo International Conference on African Development (TICAD9).
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Symbolic gestures to tangible cooperation, Air Peace clearance, Oil giant Petrobras return is key gain of Tinubu’s Brazil visit, Says Onanuga

……Air Peace clearance for Lagos-Sao Paulo direct flights excites President
The return of Brazil’s oil giant, Petrobras, to Nigeria’s upstream is a major breakthrough recorded by President Bola Ahmed Tinubu’s two-day state visit to the largest economy in South America, Minister of Information and National Orientation Mohammed Idris said yesterday.
Besides, Nigeria’s largest airline, Air Peace, was given the right to commence Lagos-Sao Paulo flights to underscore the renewed economic and cultural ties between the two countries.
Sao Paulo is Brazil’s economic powerhouse and largest city.
Air Peace Chief Executive Officer, Allen Onyema, said the airline would deploy a Boeing 777 from its fleet to service the route.
A symbolic flight was planned for last night.
These agreements are part of the Memoranda of Understanding (MoUs) signed by the two countries during the President’s third visit to Brazil in less than one year.
His two earlier visits were on invitations extended to Nigeria by G-20 and BRICS.
“Air Peace is now cleared to run flights between Lagos and Sao Paulo”, Brazilian President, Luiz Inácio Lula da Silva, declared to the excitement of President Tinubu at a joint news conference at the Palácio do Planalto in Brasília to round off the visit.
According to Presidential spokesman, Bayo Onanuga, President Tinubu said the resumption of Petrobras’ operations five years after it halted joint ventures in Nigeria, would reignite economic cooperation in the energy sector.
“We have the largest gas repository. So, I don’t see why Petrobras doesn’t join as a partner in Nigeria as soon as possible. I appreciate President Lula’s promise that this will be done as soon as possible,” Tinubu said.
The President praised his Brazilian counterpart for committing to revitalising the partnership between the two nations.
“Nigeria’s economic space remains a virgin land, full of opportunities for Brazilian companies,” Tinubu said, while acknowledging Embraer’s role in boosting local airline operations through plans for a service centre in Nigeria to support maintenance and repairs.
Reflecting on his past engagements in Brazil, Tinubu urged a shift from symbolic gestures to tangible cooperation.
“Honourable Ministers of both countries, members of the Brazil Business Group, I have listened carefully to my friend, President Lula. We had a lengthy discussion. We talked about history and about African and Brazilian heritage.
“We tried to see why we are not at the level we wanted. We have allowed some problems and activities in the past to deter us from making progress and fulfilling our promises. But today, we say that is the end of that,” he said.
Tinubu stressed Nigeria’s readiness to partner Brazil in technology transfer, food security, renewable energy, and manufacturing.
“Today, we are fighting and working hard to bring our sovereignty to the level of expectation that we, as a nation, the most populous, the most dynamic country, share with Brazil. We need to share—technology transfer, energy, economy — so Brazil can continue to widen opportunities for us to embrace Africa. Africa is the new frontier,” he said.
The President also called for knowledge sharing in pharmaceuticals, saying “we have elevated this promise to the path of reality, as you have seen in various MOUs. I don’t know why the manufacturing of generic drugs, which Brazil has done deeply and far, cannot be in Nigeria.
“I don’t see why the technological superiority of Brazil is not shared with Africa. We assured each other that only we can develop our economies to help our sovereignty”, President Tinubu said.
Highlighting the reforms at home, Tinubu assured Brazilian investors of a new era in Nigeria’s economy.
“The reforms I’ve embarked upon since I took over in Nigeria have been very impactful. It was initially painful, but today the result is blossoming. It’s getting clearer to the people. We have more money for the economy, and there will be no more corruption.
“We have the governor of the Central Bank of Nigeria here. You don’t have to know him before getting the foreign exchange you need. The speculators are out. In our currency market, the door is open for businesses,” he said.
President Lula described the renewed Brazil–Nigeria engagement as timely in an era of rising protectionism.
“At a time when protectionism and unilateralism have returned, Nigeria and Brazil reaffirm their bet on free trade and productive integration. We continue to be dedicated to building a world of peace, free from hegemonic impositions.
“There are many possibilities for synergy between the world’s two largest countries with black populations. Agriculture and livestock, oil and gas, fertilisers, aircraft, and machinery, among others, represent wide avenues for cooperation.
“Increasing direct connections between Nigeria and Brazil is another essential step to strengthen the ties between our societies. We have approved the launch of a direct flight, to be operated by Nigeria’s largest airline company, Air Peace, between Lagos and São Paulo,” he said.
The following MoUs were signed between the two countries:
*Bilateral Air Services Agreement by Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, and Brazil’s Minister of Ports and Airports, Silvio Costa Filhos.
*Diplomatic Training Cooperation and MoU on political consultations were signed by Minister of State for Foreign Affairs of Nigeria, Ambassador Bianca Odumegwu-Ojukwu, and her Brazilian counterpart, Ambassador Mauro Vieira.
Nnaji, and Brazil’s Luciana Santos.
*The Managing Director of Nigeria’s Bank of Agriculture, Ayo Sotinrin, and Brazil’s Minister for National Bank for Economic and Social Development (BNDES), Aluísio Mercadante, signed an MOU for cooperation on trade and investment promotion, harmonising efforts to expand agricultural financing, investment, and joint projects.
Nigeria is currently Brazil’s 49th largest export destination, with trade between both countries reaching $2.1 billion in 2024.
Following the agreements, President Tinubu attended a state luncheon, hosted at the Itamaraty Palace.
Mohammed Idris: BASA to deepen ties
Minister of Information and National Orientation, Mohammed Idris, described the Bilateral Air Services Agreement (BASA) signed between Nigeria and Brazil as a significant breakthrough that will reconnect the two countries economically, socially, and culturally.
He described BASA as representing more than aviation.
“The 350 years of slavery between Africa and Brazil is being looked at again by the two leaders. And one way of looking at it is to ensure there is now a reconnection – economic, financial, social, cultural, whichever sphere. I think this is the best way to really go past what has happened during the period of slavery,” the minister said.
He noted that President Tinubu’s fourth meeting with President Lula in just over a year underscored the growing partnership between the two nations, which he said would also benefit Africa.
The minister said immediate “quick wins” from the agreement were already being realised, with a symbolic flight planned from Brazil to Abuja at midnight on Tuesday.
He noted that the direct link would reduce travel time between the two countries from more than 24 hours through European routes to about seven hours.
“Once this becomes commercially viable, it will not just enhance trade between the two countries, it will also improve the cultural and social cooperation that already exists,” he added.
Onyema, who described the BASA agreement as “a milestone,” said: “We cannot start daily flights for now, but we want to start with three weekly flights. As we go on, we develop the route and we’re going to increase the frequency. We told the Brazilians that we want to do Lagos, Rio, São Paulo and back to Lagos”.
The Air Peace chief emphasised that aviation would serve as a catalyst for unlocking the economic potential of both nations.
“The Brazilian economy is the largest in Latin America. The Nigerian economy is one of the largest in Africa. They need to tap into this. But without aviation, it’s very, very difficult for some of these things to be actualised,” Onyema said.
Boeing 777 for route
Speaking in an interview, Onyema said: “Nigerian aviation is grateful to President Tinubu for all he has been doing for the industry.
Air Peace has had long relation with Brazil as the biggest customer to Brazillian airplane maker, Embraer.
Air Peace signed a firm order for 13 Embraer E195-E2 jets in 2019, with the delivery of the first aircraft in early 2021. This was part of a larger agreement that included purchase rights for 17 additional aircraft of the same type, bringing the total potential order to 30 jets. The airline is the first African carrier to operate this new generation of Embraer aircraft.
Besides buying aeroplanes, Air Peace is fine-tuning strategies for the setting up of an aircraft maintenance facility in Nigeria.
Embraer, a few years ago, unveiled plans to establish an MRO (Maintenance, Repair, and Overhaul) facility in Nigeria, in partnership with Air Peace. This initiative is part of a broader maintenance deal with the Nigerian airline to provide local maintenance support for its growing fleet of Embraer aircraft, aiming to conserve foreign exchange for airlines and create jobs in Nigeria.
As one of Nigeria’s biggest flag carriers , Air Peace is designated on Lagos/ London, Dubai, Johannesburg, Tel Aviv, China, Mumbai, Antigua and Barbuda,
Air Peace serves 20 major cities in Nigeria and many regional destinations throughout West Africa (Accra, Dakar, Douala Freetown, Banjul, and Monrovia.
Petróleo Brasileiro S.A., better known by and trading as the portmanteau Petrobras, is a Brazilian majority state-owned multinational corporation in the petroleum industry headquartered in Rio de Janeiro. The company’s name translates to Brazilian Petroleum Corporation — Petrobras.
Petrobras began operations in Nigeria in 1998 in the deep waters off the Niger Delta. It sold its stakes more than 10 years ago to raise cash for domestic projects. Since then, Nigeria has been working to address some of the problems that have limited oil and gas output.
Petrobras stopped business in Nigeria five years ago.
The company was ranked #71 in the 2023 Fortune Global 500 list. In the 2023 Forbes Global 2000, Petrobras was ranked as the 58th-largest public company in the world.
Petrobras was created in 1953 under the government of Brazilian president Getúlio Vargas with the slogan “The Oil is Ours”. It was given a legal monopoly in Brazil.
In 2000, Petrobras set a world record for oil exploration in deep waters, reaching a depth of 1,877 metres (6,158 ft) below sea level. In 2002, Petrobras acquired the Argentine company Perez Companc Energía (PECOM Energía S.A.) from the Perez Companc Family Group and its family foundation for $1.18 billion.
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