Defections, decamping and cross carpeting have become the order of the day in Nigerian politics. Irrespective of the word they use to describe their reasons, one thing remains the same, political prostitution is a politician’s second nature. Nigerian politicians especially, have perfected the art of hopping from one party to the other that Nigerian politics has become a glorified game of jump rope.

This charade all boils down to the fact that neither the Nigerian politicians nor the political parties have values and ideologies they stand for. As the saying should go: if you stand for nothing, you will jump at everything that comes your way. This is why the average Nigerian politician has been a member of at least two parties and the political parties which they have journeyed through have nothing, except the symbols of rain-shields, sweeping tools and poultry animals, to set them apart from each other... https://olatorera.com/the-art-of-political-prostitution-in-nigeria/

Ecobank (http://www.Ecobank.com) Nigeria has extended its zero-charge fee for digital money transfers below N5,000 till the end of September this year. In addition to the free USSD session fee currently enjoyed by Ecobank customers, users of Ecobank Mobile, Ecobank Online, USSD – Ecobank *326# can continue to enjoy zero fee charge for digital money transfers below N5,000. New customers can also benefit from this by opening an Xpress account from the comfort of their homes by simply dialling *326#

According to Olukorede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria, “As a bank, our priority is people’s wellbeing. We place great emphasis on rewarding and identifying with our customers and citizens of Nigeria especially at a time like this. We are determined to ensure that the impact of the pandemic is minimal on citizens... https://olatorera.com/ecobank-nigeria-announces-zero-charges-for-digital-money-transfers-below-n5000-until-september-2020/

All Progressives Congress (APC) is on the cusp of an implosion. The crisis in the party has reached a frightening crescendo. It has been a gradual but steady plummet for the party since its 2015 unanticipated triumph. I believe, the APC is on the thrall of a curse – the success curse.

In March, I wrote ‘Are we having the funeral of APC so soon,’ putting the tumbling fortunes of the party through a dialectical quarry. I said, and I still think working together in a struggle is a much easier enterprise than banding in victory. In 2013, the PDP galloped from one crisis to another until it imploded and lost power at the centre in 2015. The APC is toeing the same path. As I said, since the party cruised to power, it has been embroiled in tremulous wrangling.

To say the obvious, the APC was never a party – in the real sense of the word – but a special purpose vehicle to grab power. To put it lucidly, it is just a club of desperate people desperate for power... https://olatorera.com/apc-crisis-good-for-nigeria/

If you rush to handshake, you do so at risk of your reputation. You do so without regard for the traditional structures and legal systems existing in a great country like Nigeria. On June 2nd, Gbolahan Lawal, Former Commissioner of Agriculture for Lagos State, was awarded a letter of recognition by Governor Sanwoolu as the new Oba of Oniru Royal Palace, Lagos, Nigeria. This move shocked the entire nation and was paramount of initiating a civil war.

Reasons Why Gbolahan Lawal Is Not Recognized As The New Oba Oniru:... https://olatorera.com/why-gbolahan-lawal-is-not-yet-recognized-as-oba-oniru/

Bolaji Tunji, the special adviser on communication and strategy to the late ex-Governor Abiola Ajimobi has penned a tribute for his late boss revealing how the politician made a journey of no-return from Ibadan, the Oyo State capital, to Abuja, Nigeria’s federal capital. He said it was during that fateful trip that Mr Ajimobi took ill and did not recover. The immediate past governor of Oyo State was until his death the deputy national chairman (South) of the ruling All Progressives Congress:

It was just like yesterday. He (Abiola Ajimobi) had received a call to come to Abuja. It was to discuss party matters. He was not sure of who would follow him. Because it was a private flight, he had limited options. He only went with his security aide... https://olatorera.com/how-ajimobi-travelled-to-abuja-and-did-not-return-alive-bolaji-tunji/

Abiola Isiaka Ajimobi was born on 16 December 1949 to the highly political Ajimobi family at Oja-Oba, Ibadan. He completed his primary education at Ibadan City Council Primary School, Aperin. His secondary education was at Lagelu Grammar School. At the tertiary level, he studied Business Administration and Finance at the State University of New York, in Buffalo, New York. He obtained an MBA in Operations Research and Marketing (Finance) at Governors State University, Illinois. Consequently, he was engaged in Buffalo, New York as a state-certified underwriter, by Equitable Life Assurance Corporation, which was then the 2nd largest Insurance Company in America.

Ajimobi returned to Nigeria in 1977 and joined Management and Industrial Consulting firm as a Senior Consultant. Thereafter, he worked briefly with an architecture firm, Modulor Group as the Finance and Admin Controller. He moved on to Nestle Foods PLC as the Operations Controller and later as Marketing Controller. In 1979, he joined National Oil and Chemical Marketing Company as the Consumer Products Manager as the youngest Manager to occupy the said position. His was soon promoted to Divisional Manager within a year and a half as the youngest Divisional Manager as well. Again, he was promoted to head the Corporate Credit division and later deployed to Ibadan Business District as the Area Manager. In 1980, Ajimobi married Florence Ajimobi and they have five children. His first daughter is luxury-lifestyle entrepreneur, Abisola Kola-Daisi... https://olatorera.com/the-life-and-times-of-abiola-ajimobi/

Victor Tombari Giadom KSC is a politician of the Ogoni tribe from the Gokana Local Government Area in Rivers State, where he was served as Executive Chairman. The Knight of Saint Christopher served as the Commissioner for Works under Governor Rotimi Amaechi between 2011 and 2015. He also served as the chairman of the governorship campaign team for 2015 election for the Rivers State APC. Giadom first joined the National Working Committee of the All Progressive Congress (APC) in 2017 as Deputy National Secretary.

(POPULAR READ: https://olatorera.com/apc-crisis-good-for-nigeria/)

By 2019, he became the Acting National Secretary of the ruling party as his predecessor received a political appointment. He later resigned the position to become the Deputy Governorship candidate and running mate to APC Tonye Cole for the 2019 Rivers State Gubernatorial election. However, the ticket was dismissed by the court dismiss forbidding APC from contesting in the 2019 gubernatorial election for Rivers State... https://olatorera.com/who-is-victor-giadom-how-did-he-become-apc-national-chairman/

During the Emergency Virtual meeting of the National Executive Committee of the governing All Progressives Congress, President Muhammadu Buhari enabled the dissolution of the party’s National Working Committee. This decision was approved by the party’s National Executive council, thus fuelling the raging feud that is brewing in the APC.

It is said that this power play renders useless the widely speculated 2023 presidential ambition of former Lagos State governor, Asiwaju Bola Tinubu. Seeing as the President has chosen to side with Tinubu’s opponents in the raging feud over the control of the ruling All Progressives Congress (APC)... https://olatorera.com/house-on-fire-apc-vs-buhari/

“Even the obstacles on my way, I predict them before those that will bring them will start to think about them. I plan for betrayal, I plan for backstabbing, I also plan for reunion & forgiveness long before they happen.I expect nothing, I expect anything, I expect everything”- ASIWAJU BOLA AHMED TINUBU.

My dearest Jagaban,

You know very well that I have always liked and respected you. You will also recall that a few years ago I warned you that everything that is being done to you today would eventually be done to you given the choices you made at the time.

I bear you no malice or ill-will but in view of what is happening in your political party and given the fact that your good friend, co-conspirator and collaborator, President Muhammadu Buhari, has finally thrown you under the bus and dumped you, I am constrained to write the following.

The bitter truth is that you predicted NOTHING and you saw NOTHING. The only thing you saw were your own vain delusions and insatiable greed and the only thing you felt and that moved you was your blind ambition.

You sold your body, spirit and soul to the enemy and betrayed your people even though we warned you over and over again that those you were dining with were far smarter and far more astute than you... https://olatorera.com/an-open-letter-to-jagaban-by-femi-fani-kayode/

The Central Bank of Nigeria (CBN) has been recently trigger-happy when it comes to issuing debits on banks that breached the Cash Reserve Requirement (CRR) and Loan-to-Deposit Ratio (LDR). The latest deductions by the CBN was a sum of N219 billion for breaching the apex bank’s CRR guideline. Just halfway into the year, the CBN has already made bank debits totalling N2.1 trillion in 2020, for CRR or LDR alike. The CBN took N459.7 billion from the banks some three weeks ago and N1.4 trillion in April.

(POPULAR READ: https://olatorera.com/how-cbn-governor-emefiele-violated-president-buharis-lockdown-law/)

Quite frankly, these persistent CBN debits do not bode well for the Nigerian economy especially with the pandemic-induced recession. Most importantly, the immediate burden of these constant debits will be carried not just by the banks but by you and I. Here’s why: https://olatorera.com/how-cbns-frequent-debits-of-banks-over-crr-ldr-affects-you/

On June 11, the Nigerian National Petroleum Company (NNPC) revealed their plans to build hospitals in 12 out of the 36 states of Nigeria. This comes after their recurrent failure to efficiently operate and maintain four refineries in the last decade. The 12 hospitals, estimated to cost N21 billion ($54 million), are among the new corporate strategy of the NNPC to expand non-oil investments and exploit the huge dent that the coronavirus pandemic has created in Nigeria’s healthcare system. The corporate strategy for investment expansion will also include housing and power.

2020 saw crude prices make a historic downfall spurred by reduced demand due to COVID-19 and price wars between Saudi Arabia and Russia. Unsurprisingly, the effects of these price cuts sent shockwaves through the economy of Nigeria, a country that relies on oil for more than 50% of its revenue and 90% of export earnings. By April, oil prices had fallen to a 21-year record low rendering President Muhammadu Buhari’s budget plans unattainable. Hence, NNPC justifies its new investment strategies as measures to cope with the boom and bust cycle in the global crude-oil market and to sustain revenue generation.

The near running aground of Nigeria’s four refineries has raised many a concern about whether or not they are capable to build and most importantly, effectively operate the proposed hospitals. In the last decade, the four refineries with a combined capacity of 445,000 barrels per day have only had their capacity utilized to an average of about 20%, placing Nigeria in the least ranks among African refineries. Even the supposed... https://olatorera.com/can-nnpc-run-hospitals-when-it-cant-handle-refineries/

The last has not been heard about the controversial installation of Gbolahan Lawal as Oniru of Iruland by the Babajide Sanwoolu administration, as residents and property owners in Oniru Estate are currently living in great fear for their lives and property. Since the installation of the new Oniru by the LASG, the estate has been under siege by land grabbers and thugs with policemen from the Lagos State Government backing them up.

Lagosians and indeed all those familiar with Yoruba culture and tradition were amazed to see a new oba announced on a Friday and hurriedly installed by the Lagos State Government two days later on a Sunday, having spent only one (1) night in Ipebi, the traditional seclusion where obas in Lagos are trained and spiritually fortified for a minimum of 7 days prior to installation. Even more surprising was the fact that the person chosen to assume the throne was not previously known as a contender to the throne, and had not previously presented himself or campaigned publicly or in private for it... https://olatorera.com/when-leaders-turn-to-looters-land-grabbers-take-over-oniru-estate/

The Central Bank of Nigeria Governor, Godwin Emefiele, has been reported to fly his wife and children via private jet to the United Kingdom in violation of the closure of the Nigerian airspace during COVID-19 lockdown across the country.

The flight was operated by Executive Jet Services (ExecuJet) co-owned by Dangote and Sam Iwajoku – the same company currently battling the controversy over flying musician, Naira Marley, to Abuja from Lagos to perform at a concert at Jabi Lake Mall; another violation of the nation’s lockdown.

(POPULAR READ: https://olatorera.com/how-cbns-frequent-debits-of-banks-over-crr-ldr-affects-you/)

The Nigerian Government had announced that only essential travels will be permitted by air across the country but the discovered flight manifest reveals that Emefiele used a private jet – a Global Express Bombardier 550 luxury jet with registration number N104DA – belonging to business-man, Aliko Dangote.

This luxury jet which costs at least... https://olatorera.com/how-cbn-governor-emefiele-violated-president-buharis-lockdown-law/

It is no longer news that global business will no more remain the same. Economic, political, and social mindsets have shifted dramatically just halfway through 2020. Business and individuals alike are reevaluating their priorities and devising new strategies in almost every area. It is now more important to invest according to a greater purpose. In the course of the global crisis, some investments came crashing down while others stood tall, strengthening every day. This emphasizes that investments have surpassed “just maximising profit” and is focusing on the values that back them up. When your investments are aligned to a value-adding purpose, it provides a longer-term view and a longer-term fit with your vision. Here’s how to make Purpose-driven Investments... https://olatorera.com/how-to-make-purpose-driven-investments/

The secrets to clear skin are many. There are over a 100 factors each affecting human skin and well being in different ways. Certain factors that apply to you do not apply to others. The secret to your clear skin is individual and not collective. This is where many doctors and skincare manufacturers fail. They formulate and give out products, services and advisory to the general population to maximize wealth. Rather than tailor wellness per individual to optimize health and wellness results. For instance, a brand called Protective promises clear skin in two weeks and markets to the entire world yet their products only help a very minimal few. The minimal few that do see results may have had to eliminate other factors that contribute to clear skin. The secrets to permanent clear skin is complex, it requires expert guidance and it took me over 15 years to research, test, formulate and guarantee... https://olatorera.com/secrets-to-clear-skin/

Just a month ago in May 2020, the World Health Organization (WHO) warned that nearly a quarter of a billion Africans could contract coronavirus in the first year of the pandemic, with between 150,000 and 190,000 of them dying. Several organisations also made various predictions concerning the spread and death toll of the virus in Africa. Therefore, statistics must be closely monitored to ascertain how Africa is faring.

Coronavirus cases in African have surpassed 295,000 cases as the death toll has exceeded 7,600. South Africa, Nigeria and Ghana have been the three countries with the most cases on the continent. Lesotho remains the country with the least cases, with about four confirmed cases, followed by Seychelles with about 11 and Namibia with about 36.

In South Africa alone, confirmed cases have now exceeded 92,000 as the death toll is close to 2,000. Morocco’s Health Ministry reported 539 new coronavirus cases on Friday, the biggest daily rise so far. There are now 9,613 confirmed cases in Morocco, with a mortality rate of 2.2% and a recovery rate of 84.5%... https://olatorera.com/covid-19-how-is-africa-faring-so-far/

In December 2019, the federal high court in Lagos sentenced Kalu to 12 years imprisonment after being found guilty on all the 39-count charges brought against him. He was convicted of N7.65billion fraud perpetrated during his tenure as Abia State governor between 1999 and 2007. Kalu was also convicted alongside his firm, Slok Nigeria Limited and his former Abia State director of finance, Ude Udeogu. The court also ordered the forfeiture of all assets of his company to the federal government.

However, after spending six months in the facility of the Nigerian Correctional Centre, the Supreme Court in May nullified Kalu’s conviction. The court stated that Mohammed Idris, the trial judge, did not have jurisdiction to hear the matter since he had been elevated to the Court of Appeal.

To this effect, Kalu was released alongside his alleged accomplice, Udeogu. Interestingly, while in prison, his seat was not declared vacant by the Senate leadership hence, the Former Abia State governor resumed his position as the chief whip of the Nigerian Senate. Even so, amidst the support and sworn loyalty of the state caucus.

To answer whether he would be heading back to jail... https://olatorera.com/final-judgement-opinion-will-orji-uzor-kalu-be-going-back-to-prison/

Venture Capitalists for Africa (VC4A) is calling for disruptive African scale-ups looking to raise between $500K and $10M. In proud collaboration with technical partner AWS Activate, VC4A will be hosting the exclusive ‘Venture Showcase – Series A’ in October as part of a virtual gathering of Africa-focused early-stage investors.

The 10 selected scale-ups of the 2020 edition will get:

1. To participate in the VC4A Venture Showcase deal room, including 150+ VC investment firms
2. Professional edited 3-minute virtual pitch videos... https://olatorera.com/vc4a-announces-2020-venture-showcase-series-a-in-collaboration-with-amazon-web-services/

In May 2020, The Economic Community of West African States (ECOWAS), celebrated 45 years since its establishment. The Union of countries for economic prosperity, has been a key pillar in the promotion of West Africa’s trade and economic progress. Countries that form the ECOWAS union are Benin, Burkina Faso, Cabo Verde, Cote D’Ivoire, The Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo. In the 2000s, ECOWAS established “Vision 2020”. Today, under the leadership of President Jean Claude Kassi Prou, the union continues to push for growth and progress across member countries.

Top 3 Milestones of ECOWAS/CEDAO Since 1975:
1993: Signing of Revised Treaty in Cotonou, Benin
2007: Transformation from an Executive Secretariat to a full fledged Commission with HQ in Abuja, Nigeria.
2019: Adoption of a New Organogram for ECOWAS Institutions excluding EBID

https://olatorera.com/top-3-ecowas-milestones-as-member-countries-celebrate-45-years-of-the-union/

It all started two years ago when the operating license of the South-Africa based TelCom giant expired in October 2018. Since then, the group had operated in the Ugandan market using a temporary licence that it was mandated to renew every six months. The group intended to replace its previous 20-year license with a new 12-year license to operate in Uganda. For about two years, the MTN Group fought through recurrent negotiations to secure a long term place in the Ugandan market.

nterestingly, the negotiations were prolonged due to... https://olatorera.com/how-uganda-milked-mtn-of-100-million-to-renew-their-operating-license/

The two Cement giants, Dangote Group and BUA Group have resumed their feud over which of the industries retains ownership of the coveted Obu-okpella mines in Edo state. This was initiated after BUA groups claimed that the Federal High Court, Benin made an order which upholds BUA’s fundamental rights to peaceful possession of the mining sites in Obu, Okpella, Edo State (operated by BUA Cement and which became seized due to mining leases granted by the Federal Government of Nigeria), without unlawful interference from the Inspector General of Police, first respondent; Commissioner of Police, Edo State, second respondent; Dangote Industries, third respondent; and Dangote Cement Plc, fourth respondent. To add to this claim, BUA explained that it has resumed operations at the Obu-Okpella mines.

Reacting to this, Dangote Group, in its statement... https://olatorera.com/dangote-vs-bua-who-owns-obu-okpella-mines/

Did you know that if you Googled “Donald Trump’s Achievement as President” the first thing that pops up is the NME Award for Villain of the Year? Trump has not only been described as the most divisive president in modern US history but has been called out repeatedly for his knack for distorting the truth and for lack of diplomacy. The Trump administration has had its fair share of shortcomings and here are the most impactful:

(Popular Read: Top 5 Achievements of Trump’s Administration: https://olatorera.com/trump-74-top-5-achievements-of-his-administration/)

Black Lives Matter Movement
Known for being obnoxiously opinionated, Trump has frequently incited uprisings with his words or even his laissez-faire attitude. The president widely condemned over his response and his failure to offer swift and forceful condemnation of white supremacist violence. Recently, Black Lives Matter sued President Donald Trump and his administration Thursday, alleging that their civil rights and First Amendment rights were violated when peaceful protesters were forced out of Lafayette Square so Trump could take a photo in front of a nearby church.

Appalling International Relations
America’s global image has significantly depreciated under Trump’s administration. This is because Trump regularly insults key US allies while fraternizing with dictators. The President’s also tends to push important allies away and isolate the US, by pulling out of landmark international agreements like the Paris climate accord, imposing immigration bans and building walls to separate the US from neighbouring countries.

Family separations and the deaths of migrant children
The Trump administration’s “zero tolerance” policy on illegal border crossings led to the separations of at least 5,500 families and saw children placed in cages. Trump had even falsely blamed his predecessor, former President Barack Obama, for the policy that had thousands of children separated from their parents. The death of migrant children in US immigration custody led to widespread condemnation of conditions in detention facilities.

Iran and Syria
Trump’s decision to unilaterally withdraw the US from the 2015 nuclear deal in May 2018 has set the Middle East for chaos. Till date, it is one of Trump’s most unpopular decisions in the global arena and has been condemned by top US allies who were also signatories to the deal. Furthermore, the president has failed to thwart Iran’s aggressive behaviour in the region and after a series of incidents in the Persian Gulf region over the summer, tensions between Washington and Tehran reached historic heights and sparked fears of war.

Replace the Affordable Care Act (AKA Obamacare)
The late Sen. John McCain’s iconic “thumbs down” vote denied Trump a full Congressional repeal of former President Barack Obama’s signature health care law. Nevertheless, Trump has had success in undoing parts of the law especially with his tax bill which included a decrease in the tax penalty for those who did not enrol in health care. Despite his efforts to sabotage it, Trump is yet to offer a replacement for the Affordable Care Act.

Impeachment
Trump was impeached in the House of Representatives on December 18, 2019. The House approved two articles of impeachment against Trump, one for abuse of power over his affairs with Ukraine and one for obstruction of Congress over his efforts to hinder the impeachment inquiry. Trump asked Ukraine to launch investigations into his political rivals while withholding $400 million in congressionally-approved military aid from the country, which is fighting an ongoing war against pro-Russian separatists. Although he was acquitted, he will still go down as just the third president in US history to be impeached.

https://olatorera.com/trump-74-top-5-failures-of-his-administration/

Despite being among the most controversial presidents in US history, the now 74-year-old POTUS has had some breakthroughs in his bumpy administration. Admittedly, his accomplishments might not be popular with his critics, however, Trump has enjoyed a remarkably steady approval rating due to his die-hard supporters.

Federal Judiciary Reforms
President Trump is credited with installed two Supreme Court justices and 187 judges to the federal bench all for lifetime appointments. This is such an impactful decision that even if Trump is not reelected in 2020, his presidency will continue to influence the direction of the US due to the sheer number of conservative federal judges he’s installed. This is because courts get the final say in US politics, setting models that can shape the country for years to come.

Establishment of the Space Force
In December 2019, as part of a $738 billion defence spending bill signed into approval, Trump officially established the sixth branch of the US Armed Forces; the Space Force. The Space Force is the first new military service since the US Air Force was created in 1947. Despite its name, the new branch has not been established to protect the planet from potential extraterrestrial threats but is responsible for protecting the US military’s assets in space.

Tax Cuts Reform
Trump’s signature legislative achievement is a Republican tax bill; the Tax Cuts and Jobs Act. This policy made extensive changes to the tax code such that it permanently slashed the corporate tax rate to 21% from 35% while also providing temporary benefits for individuals and their families.

First Step Act
The First Step Act was signed into law by President Trump in December 2018. It marked the first legislative victory in years for advocates seeking to reform the criminal justice system. It offers relatively modest changes to the federal prison system like overhauling certain federal sentencing laws, reducing mandatory minimum sentences for drug felonies and expanding early-release programs. The bill also aims to lower relapses of crime by offering more rehabilitation and job-training opportunities. Furthermore, it includes provisions intended to treat prisoners humanely banning the shackling of pregnant inmates, halting the use of solitary confinement for most juvenile inmates, and mandating that prisoners be placed in facilities within 500 miles from their families.

Defeating ISIS’s caliphate and taking out Abu Bakr al-Baghdadi
After ISIS took over a large mass of territory across Iraq and Syria and declared a caliphate in 2014, it began a five-year effort led by the US to dismantle their stronghold. Thankfully, the ISIS’s caliphate was finally defeated in March 2019. In late October 2019, a US raid led to the death of ISIS leader Abu Bakr al-Baghdadi; the world’s most wanted terrorist. Trump expressed that capturing or killing him has been the top national security priority of his administration; making it an obvious success.

https://olatorera.com/trump-74-top-5-achievements-of-his-administration/

We live in confusing times surrounding skin colour and an obsessive need to interfere with it. There has been an uptick in the efforts of many misguided people to bleach their skin, ridding themselves of the natural advantage that was bestowed on them. To this effect, it is important to be armed with information on the benefits of melanin-rich skin and why it is necessary to preserve it.

Premium Protection Against The Effects of Ultraviolet Radiation
Melanin is the pigment produced by cells known as melanocytes that give colour to the skin, hair and eyes. It is more concentrated in the tissues of people who inhabit areas nearer to the equator. This is because sunlight is more concentrated in those areas and melanin is the body’s natural sunscreen that protects cells from overexposure and damage by UV rays. Exposure to the sun has the potential to cause premature ageing of the skin, as well as various skin cancers. Your ability to withstand the potentially damaging effects of the sun’s ultraviolet radiation depends on the amount of melanin in your skin. It is so important that even in light-skinned people, overexposure to the sun can force the body to produce more melanin which leads to what we know as tanning. If it’s that important, why get rid of yours? (Also Read: https://olatorera.com/top-3-glowing-skin-foods-in-the-world/)

Neutralizes Harmful Effects of Other Dangerous Radiation
Melanin can absorb a great amount of energy and yet not produce a lot of heat after absorption. This is because it can transform harmful energy into useful energy. According to dermatologist and dermatopathologist Dr Leon Edelstein, director of the National American West Skin Pathology Consultation Service, melanin can absorb large amounts of all kinds of energy including energy from sunlight, x-ray machines, and energy formed during the metabolism of cells. It is believed that melanin-rich skin can neutralize the potentially harmful effects of these energies.

It Causes Younger-Looking Skin
Exposure to the sun can cause premature ageing of the skin. People with melanin-rich skin are less likely to exhibit signs of ageing. This phenomenon is popularly known as “Black don’t Crack”. The increased melanin protects those who have it from short-term damage from the sun, as well as the long-term signs of ageing, such as age spots, deep wrinkles and rough texture.

Melanin Aids In Human Reproduction
Melanin protects from DNA damage and absorbs the right amounts of UV radiation needed by the body. Importantly, it also protects against folate depletion. Folate is a water-soluble vitamin B complex which naturally occurs in green, leafy vegetables, whole grains, and citrus fruits. Women need folate to maintain healthy eggs. It is also aids proper implantation of eggs and the normal development of placenta after fertilization. On the other hand, Folate is needed for normal sperm production in men. Additionally, folate is essential for fetal growth, organ development, and neural tube development. Intense UltraViolet Radiation usually damages Folate and affects optimum conditions for reproduction. Interestingly, dark-skinned women suffer the lowest level of neural tube defects.

Dampens the effect of Aging on Sense Organs
Melanin helps to guard against macular degeneration in the eyes caused by ageing. It also plays a major role in how the body removes harmful chemical compounds caused by damage to the hair cells in the inner ear. As a result, it reduces damage to hearing as dark-skinned people grow older.

https://olatorera.com/5-super-important-benefits-of-melanin-rich-skin/

On Thursday, Vice President Yemi Osinbajo presented the Economic Sustainability plans proposed to spearhead Nigeria’s economic response strategy to the global Coronavirus pandemic. The plan costing over N2.3 trillion focuses on formulating a clear Economic Sustainability programme in response to the COVID-19 crisis. It also backed by proposed monetary policy measures and an allowance for a Fiscal/Monetary Stimulus Package.

The package includes support to private businesses especially in key sectors most affected by the pandemic and vulnerable section of the population. It also aims to identify fiscal measures for enhancing distributable oil and gas revenue, increasing non-oil revenues and reducing non- essential spending, to help secure sufficient resources to fund the plan.

With the report, the government is expected to now expand the Social Investment Programme, by increasing cash transfer beneficiaries, N- Power volunteers and sundry traders enjoying small and microloans through the MarketMoni and TraderMoni schemes. The already existing conditional cash transfer arrangements will also be extended to cover a larger number of the extremely poor.

The plan, according to Osinbajo, is the result of a comprehensive consultation with various stakeholders including the Presidential Economic Advisory Council, the 36 State Governors and the leadership of the National Assembly.

President Buhari while receiving the report, commended Nigerians for their resilience under the weight of the Coronavirus pandemic. He also applauded the committee for completing the critical national assignment in good time, adding that with God’s help and with a sense of duty to prosperity, the Nigerian economy can be successfully transformed for a brighter future.

https://olatorera.com/nigeria-progresses-with-covid-19-economic-response-as-vp-osibanjo-submits-sustainability-plan/

The race for crude oil domination will become even more interesting as China is set to go head-to-head with African giant, Dangote in the refinery business. With its reputation as the world’s biggest single-refinery train at 650,000 barrels per day capacity (bpd) after its completion in 2020, the Dangote Petroleum Refinery has the potential to meet Nigeria’s, if not Africa’s refining needs. However, it is bound to face a new rivalry against the Chinese refinery eyeing the African market.

The Chinese government is deciding to shut down independent refiners who operate at an estimated 500,000 bpd refining capacity. These independent refiners, commonly called ‘teapots’ in Shandong Province, are to be sacrificed for the building of a massive $20-billion refinery and petrochemical complex according to a Reuters report.

China has reportedly had its eyes on African and Latin American refined product markets since 2018 mainly due to its increased exports in the area. Since Africa exports the bulk of its crude, the market for refined products is huge in Africa. In April 2018, China exported a whopping 50,000MT to Togo and surpassed this order with an expert of 51,000 Metric Tonnes of gasoline to Nigeria in January 2019. This revealed the attractiveness of the market and spurred China’s largest petrol exporter, PetroChina to set up shop in Nigeria.

Even more so, reports by energy intelligence firm, SP Platts, show a growth in China’s petrol exports to African countries with Mozambique and South Africa climbing to the top 10 destinations in January 2019, receiving 147,000 mt and 82,000 mt of petrol, respectively.

This move comes after years of planning by the Chinese Authorities to establish a large scale refinery to process all the crude obtained with their status as the world’s largest buyer of the commodity. It is suspected that the ambition is purposed to reinvigorate its ailing economy which was thrashed by COVID-19.

China’s refinery will have a 400,000 bpd processing capacity, an ethylene plant producing 3 million tons per year to serve the country’s growing overseas market (especially in Africa) when it is completed in 2024. On the other hand, Dangote Refinery is a planned 650,000 bpd refinery with 838 KTPA Polypropylene Plant, expected to be the world’s second-largest Urea Plant at 3 Million Tons per annum. It would have the largest sub-sea pipeline infrastructure in any country in the world at 1,100 Kms to handle 3 Billion Standard Cubic Foot of gas per day. Additionally, it would have world-scale gas treatment stations, world-class petrochemical complex.

The refinery, situated in Lekki, costs a whopping $12 billion as it plans to meet 100% of Nigeria’s petroleum import requirement and create a market for millions of barrels of Nigeria’s crude currently stranded atop vessels in search of buyers.

As impressive as Dangote Refinery sounds, China’s proposed refinery could still pose a potent threat unless it benefits from government protection. Judging from the amount of political capital Nigeria has already invested in the refinery’s success and its founder’s massive record of philanthropy and investments in the country, government protection will not be too far-fetched.

https://olatorera.com/china-set-to-rival-dangote-with-proposed-20-billion-refinery/

The Vice President for Agriculture, Human and Social Development at the African Development Bank, Dr Jennifer Blanke, resigned her position on Wednesday, 10th of June.
The former Vice President who joined the bank in 2017, said she is leaving purely for family reasons to rejoin her family in Switzerland, after a very fulfilling 3 years of service. She admitted that she would miss the bank and the excellent team she helped to build. Furthermore, she promised to strongly support the bank from wherever she finds herself.

Blanke expressed her thanks to President Akinwumi Adesina for his strong leadership, guidance, and support. In turn, President Adesina voiced his delight to have worked with Blanke for the last three and a half years, wished her all the best and looks forward to a continued partnership with her. During her time with the bank, Dr Blanke was responsible for strategy and activities in the area. Importantly, she has written and lectured extensively on issues related to national competitiveness, economic growth and development, and political economy.

Brief Profile:
Master’s in International Affairs from Columbia University;

Master’s and PhD in International Economics, Graduate Institute of International Studies, Geneva.

Vice President Agriculture, Human and Social Development at the African Development Bank Group,

Former Chief Economist at the World Economic Forum, 2012-2017.

Senior Programme Manager, responsible for developing the business, management and technology section of the World Economic Forum’s Annual Meeting in Davos, 1998-2002; with the Global Competitiveness and Benchmarking Network, 2002-2011, including team head, 2007-14.

Management Consultant, Eurogroup, Mazars Group, Paris, specializing in banking and financial market organization, 1995-1998.

Member of the Canadian government’s Council of Economic Growth and holding a number of non-executive board responsibilities.

https://olatorera.com/why-afdb-vice-president-jennifer-blanke-resigned/

Housing and accommodation in Lagos are notorious for being limited and unaffordable. With a population of about 20 million, the state is laden with an estimated housing deficit of three million. This housing gap requires tremendous effort to bridge and thankfully, the Lagos State government is hard at work. The Rent-to-Own Scheme was established not just to provide accommodation but as a major means of economic empowerment for residents of the State, especially young people.

istorically, the state government has expressed its concerns regarding residents’ housing challenges, with previous interventions like The Lagos Home Ownership Mortgage Scheme (LagosHOMS) launched about eight years ago. Prior interventions placed challenging demands on the recipients like the payment of 30% equity contribution which many interested homeowners could not afford. However, the Rent-to-Own housing scheme requires individual subscribers to pay only 5% of the cost of the housing unit as a commitment fee and the balance is spread over a period of 10 years with minimal interest. The new initiative was launched with 4,355 housing units it inherited from the mortgage scheme and has currently allocated about 650 original units to its special target of first time home buyers.

These houses came from 12 housing estates including Sir Michael Otedola Estate, Odoragunsen, Epe, Odo Onasa, Agbowa, Igbogbo Housing Estate, Ikorodu, Egan -Igando Housing estate, Alimosho, Lateef Jakande Gardens, Igando also in Alimosho. Other estates for the scheme are CHOIS City, Agbowa, Olaitan Mustapha Housing Estate, Ojokoro, Iponri Estate, Surulere, Sangotedo Estate, Eti-Osa and Ajara Estate, Badagry.

The Governor Babajide Sanwo-Olu administration in the state has not only strengthened the scheme but has increased the momentum of project delivery. The implementation of the housing scheme is carried out by the Lagos Mortgage Board responsible for ensuring that homes are allocated and made accessible to first-time home-owners, and generating a conducive environment for affordable mortgages. Furthermore, the Rent-to-own scheme is credited with reducing the housing deficit in the state and promoting mortgage culture.

Apart from the Rent-to-Own scheme, the Sanwo-Olu administration also completed and delivered housing for other residents who are existing property owners. Among them were the Courtland Luxury Villas, Igbokushu in Lekki and Lekki Apartments located at Freedom Way Junction, Lekki Phase1. These were birthed by a Joint Venture project between Lagos State Development and Property Corporation (LSDPC) and Messrs Le Grande Property Development Company. The Luxury Villas which sits on 28,321 square metres of land comprises 120 units of 4-bedroom maisonettes and a boy’s quarter. Interestingly, it boasts amenities such as a swimming pool, ample car park, community hall, 24-hour security, 5-aside football pitch, as well as water and sewage treatment plant.

https://olatorera.com/how-lagos-state-is-revolutionising-housing-with-the-rent-to-own-scheme/