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Bukka Hut Mourns Co-Owner, Late Olaolu Martins

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Martins, who was a banker with over 21 years of experience in investment banking, corporate banking, stockbroking, asset and pension fund management, died on Tuesday night.

Olushola Okunlade Writes

The Board, Management, and Staff of Bukka Hut have continued to mourn the unfortunate passing of Mr. Olaolu Martins, who was a key stakeholder and a minority shareholder in Bukka Hut.

Mr. Olaolu Martins, who was a banker with over 21 years of experience in investment banking, corporate banking, stockbroking, asset, and pension fund management, died on Tuesday night.

Bukka Hut in its statement said: “We pray that Almighty God continues to provide us the strength and fortitude to bear this loss.

“Unfortunately, we are shockingly observing some unscrupulous elements in the society who are capitalising on this recent unfortunate incident to maliciously misrepresent verifiable facts on various social media platforms, thus, causing significant distress to families, staff, customers, and other stakeholders of Bukka Hut.

Martins, who was a banker with over 21 years of experience in investment banking, corporate banking, stockbroking, asset and pension fund management, died on Tuesday night.
Late Olaolu Martins.
In 2019, the Southern Swamp Associated Gas Solutions project was commissioned, and the SPDC JV is planning to reduce associated gas flaring further through its Forcados Yokri gas-gathering project, of which large parts are set to be completed in 2022. Despite such efforts to reduce continuous flaring, unfortunately flaring intensity (the amount of gas flared for every tonne of oil and gas produced) at both SPDC- and SNEPCo-operated facilities increased in 2021 owing to short-term operational issues. Flaring from SPDC-operated facilities increased by around 5% in 2021 compared with 2020. The increase was primarily because of the extended outage of the gas compression system in SPDC’s shallow-water operations. The system was restored and became operational from January 2022. Flaring at SNEPCo-operated facilities rose by around 160% in 2021 compared with 2020. This was mainly because of an increase in flaring on the Bonga floating production, storage and offloading (FPSO) vessel. Repairs to a flex-joint on the Bonga FPSO’s gas export riser in the second quarter took longer than expected, in part because of weather conditions. While repairs were under way, the FPSO continued to produce oil and therefore flaring was necessary for safety reasons. The repairs were safely concluded in July 2021. Although flaring intensity levels rose in 2021, SPDC and SNEPCo over the last 10 years have almost halved the combined amount of hydrocarbons they flare from 1.5 million tonnes in 2012 to 0.8 million tonnes in 2021. This reduction is the result of a strict flaring reduction management process and both SPDC and SNEPCo will continue to work in close collaboration with joint-venture partners and the government to make progress towards ending routine flaring of associated gas. NIGERIA LNG EXPANSION UNDERWAY Global demand for LNG continues to grow as the world increasingly seeks reliable supplies of lowercarbon energy. Shell’s investment in Nigeria’s gas infrastructure for export is expected to help 6 This is according to a data provided by global research and consultancy business Wood Mackenzie. the country benefit further from revenues. Shell Gas B.V. and its partners took a final investment decision in 2020 on a new LNG processing unit – known as Train 7 -- at NLNG. The expansion is expected to create around 12,000 jobs for Nigerians during construction and stimulate growth of the local oil and gas service sector, with 55% of engineering and procurement of goods and services being sourced in-country. Train 7 is expected to ensure Nigeria’s continued place as a global player in a lower-carbon energy source. Once operational, Train 7 will add around 8 million tonnes per annum of capacity to the Bonny Island LNG facility, taking the total production to around 30 million tonnes per annum. In 2021, NLNG began awarding procurement and construction contracts. Early works started at the site. The first phase of the worker village is expected to be ready for occupancy in 2022 and the new material offloading facility ready for use by the end of 2022. NLNG’s Train 7 is expected to come onstream in the middle of the 2020s. KEY LICENCE RENEWED FOR DEEP-WATER SNEPCo has interests in four deep-water blocks in the Gulf of Guinea, two of which it operates. Today, nearly one-third of Nigeria’s deep-water oil and gas production comes from the Bonga and the nonoperated Erha fields.6 Since production began in 2005, Bonga alone has produced more than 950 million barrels of oil with the 2021 average oil production per day at 105,000 barrels. The Bonga FPSO vessel has a total production capacity of 225,000 barrels of oil per day and 150 standard cubic feet of gas export per day. In 2021, the availability of the FPSO vessel increased to 80% from 70% in 2020. In addition to Bonga, SNEPCo’s exploration activities have led to several significant discoveries of oil and gas over the last two decades, including the Bolia and Doro fields (Shell interest 55%). Nigeria Briefing Notes Helping to power Nigeria’s economy 13 In the right investment climate, SNEPCo believes that there are opportunities to expand. In 2021 the OML 118 (Bonga) production sharing contract was renewed and the lease extended for 20 years. Bonga North and Bonga South West Aparo (BSWA) oil fields are two such potential opportunities. Bonga North is a proposed tie-back project to the existing Bonga FPSO with Phase 1 comprising 14 wells. BSWA is a development of a new FPSO with Phase 1 comprising 23 wells. SUPPORTING RENEWABLE ENERGY STARTUPS Millions of Nigerians are excluded from the country’s power grid and Shell Companies in Nigeria have established and provided substantial funding for a not-for-profit, impact-investing company called All On. Operating as an independent company, All On works to bring reliable electricity – often from renewable energy sources -- to off-grid urban and rural customers. This support aims to build a solid pipeline of viable businesses that can create the scale required to address Nigeria’s access to energy gap. In December 2019, SPDC and SNEPCo made a significant additional 10-year financing commitment of $160 million in All On, bringing the total commitment to $200 million. By the end of 2021, All On had provided investment capital to over 40 renewable energy start-ups in its portfolio – an increase of more than 30% from 2020. One such company is Infibranches Technologies Limited, to which All On has committed $2 million, which is expected to enable the indigenous technology company to expand sales of solar home systems via its more than 13,000 agent banking partners across Nigeria. With the support of the Rockefeller Foundation, the All On Hub was established in 2020 to provide nonfinancial support and build the capabilities of off-grid energy entrepreneurs. In 2021, the hub supported 81 ventures – nearly double the 41 supported in 2020. Also in 2021, All On, Odyssey Energy Solutions and the Global Energy Alliance for People and Planet launched a $10 million equipment financing facility as part of the DART pilot programme in Nigeria. 7 Hydraulic flying leads support the delivery of hydraulic fluid and/or chemicals between subsea equipment. 8 Subsea trees are an assembly of valves and other components used to monitor and control the production of a subsea well. DART will combine demand pooling, aggregated purchasing of solar equipment, and access to affordable finance to unlock economies of scale for solar companies, achieve cost savings for end-users, and accelerate the growth of the renewable energy sector in Nigeria and beyond. DEVELOPING LOCAL CONTENT AND SKILLS Shell Companies in Nigeria contribute to the growth of Nigerian businesses that can provide technical and support services to the industry. This includes the manufacture of tools and technical kits, the operation of helicopter flights in the Niger Delta, and strategic partnerships between foreign and local companies to stimulate technology transfer and capacity development. While there are government-required programmes in some areas, such as the Nigerian and Community Content Strategy embedded in the Assa North/Ohaji South gas development project, Shell Companies in Nigeria deliberately seek to contract local businesses wherever possible. In 2021, Shell Companies in Nigeria awarded $800 million worth of contracts to Nigerian-registered companies. Of these, 92% were companies with at least 51% Nigerian ownership. SNEPCo has awarded major engineering and construction contracts to companies that are indigenous, have local staff, or possess domestic capabilities in the country. At present, the manufacture and rebuild of hydraulic flying leads7 (HFLs) is being carried out in-country by wholly indigenous companies. Pressure Controls Systems Nigeria Limited, another Nigerian company, continues to refurbish old subsea trees.8 Sometimes, a lack of access to capital hinders Nigerian companies from competing for and executing contracts effectively. Shell Companies in Nigeria have provided access to nearly $1.6 billion in loans to 901 Nigerian vendors under the Shell Contractor Support Fund since 2012. These loans help improve their tendering opportunities.

Rasheed Jaiyeola is the Founder/C.E.O of Bukka Hut, a proudly Nigerian brand he built from inception in August 2011 from one outlet to 24 outlets comprising restaurants, lounges and suya, and grill spots, and a learning facility, BH Academy, as at today. He jointly owns the majority of shares of the company with his wife and sister.

Bukka Hut is not a one-man business as there are two other shareholders/directors but they are not involved in the daily management of the business.

Rasheed and the late Olaolu Martins were co-owners of Nigerian International Securities Ltd (NISL) and naturally, Laolu was one of the three people he invited to invest in Bukka Hut when he founded it in 2011.

Rasheed resigned from NISL as a Director in 2016 to focus solely on building Bukka Hut while Olaolu remained the MD/C.E.O of NISL and its related businesses.

The family of the late Olaolu Martins has released a statement to clarify the news regarding his untimely demise and it is our hope that their wishes are respected at this very difficult time.

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U.S. Secretary Of State Blinken Condemns Putin’s Attacks On Civilians As “Barbaric,” Pledges Ongoing Support

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U.S. Secretary Of State Blinken Condemns Putin’s Attacks On Civilians As “Barbaric,” Pledges Ongoing Support

Any Use of This Material Must Credit CNN’s Amanpour <

WATCH FULL INTERVIEW ON CNN | READ MORE HERE <

U.S. Secretary of State Antony Blinken strongly condemned the targeting of Ukrainian civilians by Russian President Vladimir Putin, calling it “barbaric,” and pledged that the United States and NATO allies would continue to support Kyiv in the face of a continuing Russian onslaught.

“What we’ve been working to do is to make sure that at any given time, [the Ukrainians] have the most effective systems possible to deal with the threat that they’re facing,” he told CNN Chief International Anchor Christiane Amanpour.

Blinken was speaking from Bucharest, Romania, where he is attending a meeting of NATO foreign ministers.

“We met here not just with NATO allies, but with the G7 countries and some other countries, to put in place a very coordinated process to make sure that we’re getting Ukraine what it needs to get through the winter – to make sure that men, women, children are not literally freezing to death,” he explained.

“This is the brutalization of a country,” he added.

In the wide-ranging interview, Blinken also discussed U.S. relations with China, reaffirmed support for those protesting in Iran, and commented on the significance of French President Macron’s state visit to the U.S. this week.

Key quotes from Sec. Blinken:


On the U.S. providing air defense systems to Ukraine:

“We’re now very focused on air defense systems – and not just us, many other countries – and we’re working to make sure that the Ukrainians get those systems as quickly as possible, but also as effective as possible, making sure that they’re trained on them, making sure that they have the ability to maintain them.”

On whether the U.S. will supply Ukraine with ‘Patriot’ systems:

“I’m not going to speak to specific systems, the Pentagon is focused on that. What we’ve been working to do is to make sure that at any given time, they have the most effective systems possible to deal with the threat that they’re facing.”

On the Russian military’s tactic of targeting civilians:

“Christiane, what we’re seeing, to put it in one word, is barbaric. And precisely because Putin is not able to succeed on the battlefield, he’s taking the war to Ukraine’s civilians, and he’s doing it in a very deliberate way: going after the entire energy and electric infrastructure, to turn off the lights, to turn off the water, to turn off the heat. And that is at a time when of course Ukraine is heading into winter.

The head of NATO Jens Stoltenberg talked about weaponizing winter, and that’s exactly what Putin is doing. It’s also why not only are we seized with making sure that Ukraine has the systems it needs to defend itself, but we’re also seized with making sure that we’re doing everything possible – again, as quickly as possible – to help them repair and replace everything that’s being destroyed by the Russian onslaught.”

On supporting the Ukrainians through the winter:

“We met here in Bucharest not just with NATO allies, but with the G7 countries and some other countries, to put in place a very coordinated process to make sure that, as fast as we can, we’re getting Ukraine what it needs to get through the winter – to make sure that men, women, children are not literally freezing to death…This is the brutalization of a country and directly attacking everything its civilians, its citizens need to survive simply. And I hope that the world understands it and sees it that way. We’re seized with this and we’re acting on it to get Ukraine everything we possibly can to get through the winter.”

On whether NATO will invest in Soviet-era weapon systems in Ukraine: 

“We’re looking at every option to make sure that, again, they get what they need and what can be most effective for them. Some of that does go to Soviet era systems that they’ve had in their inventory for decades and, for example, making sure that the ammunition is there for those systems. And in some cases, that may require producing things that haven’t been produced for some time.”

On the U.S. response to the Iranian regime’s crackdown on protesters:

“We’ve taken steps, as you know, to sanction those who’ve been responsible for trying to repress people peacefully protesting. We have worked as well to make sure that Iranians have, to the best of our ability, the communications technology that they need to continue to communicate with one another and to stay connected to the outside world.”

“The main focus has to remain on the Iranian people. This is about what they want, what they need, what they expect.”

On the causes of the protests in Iran:

“One of the profound mistakes that the regime makes is to try to point the finger at others, at the United States, Europeans, claiming that we’re somehow responsible for instigating or otherwise fanning the flames of the protests. That is to profoundly, fundamentally misunderstand their own people.”

On the U.S.-Iran World Cup match:

“I watched the game last night, I think team USA performed remarkably. I also have to salute the performance of the Iranian players, throughout the tournament as well as in the game yesterday. And yes, it was a highly charged atmosphere, but I’m glad that the players actually had a chance to play the game and that we got the result that we got.”

On managing the U.S.’ relationship with China:

“Precisely because we’re in a competition with China, the potential for miscommunication, for not at least understanding what each other is trying to do, that’s something we have to guard against. And that’s necessary, particularly if, as President Biden has said, we want to ensure that the competition we’re engaged in does not veer into conflict. No one has an interest in that.”

“It’s going to be up to China to decide whether it wants to participate in that kind of cooperation on things like climate, on global health, on the macroeconomic environment that we’re all living in as we try to get beyond Covid and pursue an economic recovery. We can’t decide that for China.”

On the significance of French President Macron’s state visit to the U.S. this week:

“I think the fact that President Macron is the first person the President is welcoming on a state visit speaks volumes about the importance that we attach to the relationship. Not only that, what I’ve seen over the past few years with France specifically, Europe more generally, including the European Union, is greater and greater convergence on the issues that matter most – whether it’s Ukraine, whether it’s the approach to China, whether it’s dealing with everything from climate to food insecurity to energy. And do we have differences on certain things? Of course. We always do but we always work through them.”

Full transcript available here shortly after broadcast.

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Agidanyin Festival 2022: Erinmo Founder’s Day Celebration Holds December 10

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Agidanyin Festival 2022; Celebration Of Founders' Day, Culture, And Tradition In Erinmo Town

…as Owa Oye of Imesi Ile announced as Father of the day

…Hon. Oluwole Oke, Chairman of the occasion

Olushola Okunlade Writes

The ancient kingdom of Erinmo is set to hold Agidanyin Founder’s Day Festival 2022 on Saturday, December 10, 2022.

Agidanyin festival is celebrated annually to remember the great progenitor of Erinmo who was Agidanyin the son of Obalufon Alayemore.

Agidanyin Founder’s Day Festival is one of the most revered cultural festivals marked in Erinmo Ijesaland in Osun State. The festival comes with a celebration of cultural norms, and traditions with empowerment activities.

The Royal Father of the day is Oba Enoch Ademila Akinyemi Oyoyo II, Owa Oye of Imesi Ile, Special Guest of Honour for the day is Oba Ashiru Olatoye, Olaniyan II Olobu of Ilobu in Irepodun Local Government Area of Osun State while Hon. Oluwole Oke, the House of Representatives member representing Oriade/Obokun Federal Constituency is the Chairman of the occasion.

There are several traditional festivals celebrated in the town annually apart from Agidanyin Festival, Osunita Festival, Ogun Festival, Sango Festival, Elebiripo Festival, Obalufon Festival, Olookun Festival, and Ijesu (New Yam Festival).

The great progenitor Agidanyin Festival is remembered from time to time to offer prayers for peace and progress of Erinmo town.

Among the monarchs who have joined the Elerinmo and the residents to celebrate Agidanyin festival in the past include, Arole Oodua Ooni Adeyeye Babatunde Enitan Ogunwusi Ooni of Ife, Alaaye of Efon Alaaye in Ekiti State, Elegboro of Ijebu-Jesa and Ajalaiye of Ipetu-Ijesa”.

Erinmo is a town blessed and surrounded by several rivers that all possess healing powers and provide refreshing succor for household and personal purposes. Erinmo is administered under the Elerinmo who heads a council with over 52 chiefs some of whom are high chiefs also known as Iwarafa Mefa. Erinmo is a peaceful and religiously inclined town with the enormous advantage to be the food basket of the state as well as the spiritual Jerusalem of Nigeria considering the huge attractions to the spiritually sacred holy mountains of Erinmo which have attracted visitors from all over the world seeking and finding solutions to various problems.

His Royal Majesty, Oba (Dr) Michael Odunayo Ajayi, Arowotawaya II, Elerinmo of Erinmo Kingdom.

Oba (Dr) Michael Odunayo Ajayi, Arowotawaya II, Elerinmo of Erinmo, direct descendant of the 3rd and 5th Ooni of Ile Ife Obalufon Alayemore who is known home and abroad with sterling working career said: “Erinmo as history has it was created by Obalufon Alayemore who left Ile-Ife with so many of his children, relatives, and descendants. One of his favourite children known as AGIDANYIN, a renowned hunter and warrior who was always beside his father and running errands for him left Ile-Ife with his father, Alayemore when they got to a place which they named ILOBI, with the permission of his father, AGIDANYIN and some people settled down, while Obalufon Alayemore proceeded to a virgin land where he established a town, (just beside present-day Erinmo) and named it after himself OBALUFON ALAYEMORE which was letter shortened to EFON- ALAAYE, EFON was coined from Obalufon while Alaaye was cut from Alayemore.

Oba Arowotawaya further said: “the name Erinmo according to history came while Obalufon Alayemore and his descendants were running when it seemed that his family and warriors were getting tired he will encourage them with the words “Erin” “Erin” “Erin” meaning “Walk” “Walk” and “Walk”. They decided to stop and relax after some time. Here they used palm fronds called “Imo” in Yoruba to make houses hence the name Erin- Imo which is now known as the present-day Erinmo. The great progenitor of Erinmo was AGIDANYIN son of Obalufon Alayemore. Agidanyin was a great fearless warrior who participated actively in several wars especially the numerous inter-tribal wars at that time. After Obalufon Alayemore installed his son Agidanyinmosa as the ruler of Erinmo – Ijesa, known today as the ELERINMO.”

Erinmo is a prominent ancient town in Oriade Local Government Area of Osun State founded on or about 1100 AD (as gazetted in Osogbo District, Ibadan Division file 1253 dated 20th August 1934) by the third and fifth Ooni of Ife, Obalufon Alayemore, located about 2km from Ilesa within the rain belt region of South West, Nigeria which enjoys her heaviest rainfall between July and September. The mean annual temperature is about 70 F (40 c) with the highest temperature during the dry season which is between December and March.

Erinmo is bounded in the East by Efon Alaaye, in the West by Iwaraja, in the North by Ijeda, and in the South by Erin Ijesa. The town which covers an area of over 11,000 square kilometres is sited on fairly elevated plain area and is almost surrounded by mountains.
Authentic history has it that the people in the present-day Erinmo originated directly from the cradle of Yoruba people, Ile Ife, and are direct descendants of Oduduwa the great ancestral father of the Yoruba race through the 2nd, 3rd, and 5th Ooni’s of Ife viz OBALUFON OGBOGBODIRIN and his brave son OBALUFON ALAYEMORE who left Ile Ife with his loyalists due to a misunderstanding with his uncle ORANMIYAN regarding his ascendancy to the throne of Oodua.

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    RCCG Area 24 Empowers People Of Ikorodu Community

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    RCCG Area 24 Empowers People Of Ikorodu Community

    By Moninuola Sulaiman

    The Redeemed Christian Church of God (RCCG), Truth and Life Area of Lagos Province 98 have helped over 60 worshipers and community members in Ikorodu to achieve self-reliance.

    The training was for people intending to pivot into a career in the production of body and hair creams and others or those willing to upgrade their skills.

    According to Pastor Nelson Olagundoye, the empowerment scheme is part of the program organized by the Area in Lagos Province 98 to commemorate with Area 24 Women conference for spreading the love of Christ and adding value to the quality of living of Nigerians (Christians or non-Christians).

    He also added that the efforts are geared towards ensuring that members are empowered for multiple streams of income for different categories of members to ensure that nobody is left behind. We are laying a strong foundation for tomorrow; we want every member especially women under Area 24 Zone 3 Lagos Province 98 to have a solid foundation in Christ Jesus,” he said.

    RCCG Area 24 Empowers People Of Ikorodu Community
    Right-Left: Pastor (Mrs) Helen Adeniyi, Wife of the Pastor in charge of Lagos Province 98; Pastor Nelson Olagundoye, Pastor in Charge of Area 24 and his wife, Pastor (Mrs) Busayo Olagundoye during the maiden edition of Area 24 LP98 women conference and skill acquisition program held recently.

    Speaking at the grand finale of the conference held on Sunday, November 27, 2022, the Wife of the Pastor in Charge of Lagos Province 98, Pastor (Mrs) Helen Adeniyi commended the effort and impact made so far by Pastor Olagundoye and his wife during their short period as pastor-in-charge of the Area. He prayed for enlargement and financial breakthroughs of members of the area as well as Zone and Lagos Province 98.

    Pastor (Mrs) Adeniyi in her sermon titled ‘The ever-increasing Christian Woman’ reading from the book of Luke 2:52 and Psalm 115: 14-15, told over 260 congregations in attendance the full meaning of the theme, which is in a combination of ever, increasing, and Christian. She stated that ‘ever’ simply means always, frequently, and forever while ‘increasing’ is greater and Christian is living in life according to the word of God. She continued by encouraging members to imbibe the word of God and seek the face of God in wisdom which is the principal thing. She further encouraged women to be always submissive to their husbands. She also said that in other to receive favour from everyone, we need to know how to relate with people because it is the people, God will use to favour us. She also referred the congregation to the book of Amos 3:3 which stated that ‘can two work together except they are agreed, therefore, we need the help of Almighty God before we can get into the next level of glory, she said.

    RCCG Area 24 Empowers People Of Ikorodu Community
    RCCG Area 24 Empowers People Of Ikorodu Community

    At the event, the church also celebrated and presented a befitting gift to the pioneer Pastor-in-charge of Truth and Life Parish, Pastor and Pastor (Mrs) Adedayo Adewole for their giant stride in the parish in the last six years. Deacon Adebukola Oshiga after his brief remarks on the history of the parish to the congregation then presented the gift to them on behalf of the church.

    The wife of the Pastor-in-charge of the Area and the Convener of the event, Pastor (Mrs) Busayo Olagundoye in her opening remarks, gave glory to Almighty God and everyone who had played one role or the other in making the event a reality. She thanked the wife of the Pastor in charge of Lagos Province 98, Pastor (Mrs) Helen Adeniyi for accepting our invitation as a Special Guest Speaker at the maiden edition of the women’s conference of Area 24.

    She also specially appreciated Pastor (Mrs) Toyin Afe, Wife of the Pastor-in-charge of Zone 3, and other Pastors’ wives for creating time to grace the occasion. The program ended with high praise and thanksgiving.

    The event had in attendance various dignitaries from the Provinces, Zones, Areas, Parishes, Communities, and other well-wishers. The church of Jesus Christ is marching on. All glory to God.

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