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Nigeria to Benefit from US$500 million Development Plan

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Nigeria to Benefit from US$500 million Development Plan

By: Michael Mike

Nigeria is one of the country to benefit from a Memorandum of Understanding (MoU) signed for the co-financing of up to US$500 million of debt transactions to facilitate long-term sustainable development across developing economies and low-income countries in Africa, Asia, and the Caribbean.

The MoU was signed between British International Investment (BII), the UK’s Development Finance Institution (DFI) and impact investor with Amsterdam-based ILX Management (ILX), an SDG and Climate-Focused Emerging Market Private Debt Fund.

According to a statement jointly signed by Clare Murray of British International Investment and Simone Boes of ILX Management, BII and ILX will invest across a broad range of sectors including renewable energy, infrastructure, financial services, manufacturing and agribusiness to increase the flow of capital into impactful businesses and projects.

The statement added that this new partnership will enable both parties to leverage each other’s expertise and provide additional financial firepower across Africa, Asia and the Caribbean. ILX and BII will share information on prospective projects, emerging technologies, and financial innovation. They will also establish a roadmap to mobilise private sector capital, specifically focusing on providing institutional investors with greater access to high-impact private debt investment opportunities in scalable businesses driving productive, sustainable and inclusive growth.

CEO, BII, Nick O’Donohoe said: “This partnership has been driven by our shared view of the need to invest to meet the SDGs. It furthers our ambition to create new job opportunities in developing economies and will provide private credit to help bridge the finance gap faced by many businesses. This asset class remains nascent, comprising of just 3 per cent of private credit globally, and is the natural next step for allocators of global private credit.”

CEO, ILX Management B.V., Manfred Schepers, said “ILX has already received over US$1 billion in commitments from leading Dutch pension funds and is currently raising a successor fund for a targeted US$ 2 billion commitments from European pension funds. Working with BII, together we will increase financial capacity for project finance, financial services debt and private sector debt across Africa, Asia and the Caribbean. We have a strong track record of investing alongside the leading Multilateral Development Banks and other Development Finance Institutions in climate, and SDG-targeted projects across emerging economies globally and look forward to the opportunities this partnership will bring.”

UK Minister for Development and Africa, Andrew Mitchell, on his part said “This MoU with ILX is an example of British International Investment’s pioneering approach to mobilising the private finance needed to deliver the UN Sustainable Development Goals. I am proud that FCDO provided early-stage funding to ILX, which went on to secure over US$1 billion in commitments to its first investment fund.

This new partnership will mobilise up to US$500m of additional finance for low-income countries across Africa, Asia, and the Caribbean, improving access to renewable energy and quality infrastructure and helping businesses to thrive.”

Nigeria to Benefit from US$500 million Development Plan

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Borno State Councillors endorse Tinubu/Kashim for a second term

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Borno State Councillors endorse Tinubu/Kashim for a second term

By: Bodunrin Kayode

The forum of Councillors in Borno State have endorsed the enthronement of President Bola Tinubu for a second term

The Councillors all from the All Progressive Congress (APC) gave the endorsement during a news conference in Maiduguri on Friday led by their Chairman of the Forum Kellum Geshehu.

While endorsing the Tinubu-Shettima Ticket for 2027, they said that they were pleased with the developmental projects of President Bola Tinubu and their son Senator Kashim Shetima who they say equally deserves a second term for pleasing the masses with basic dividends.

They maintained that as grassroot politicians who understood the pains of the masses especially when the subsidies were removed, it was clear that the economic policies applied by the party at the National level has given rise to massive production of foodstuffs and the reduction of prices of basic staples which before now were beyond the reach of a lot of people.

“We also express our profound satisfaction with the progress of the Government under the leadership of His Excellency, President Bola Tinubu. We see the Renewed Hope Initiative gradually yielding fruits for Nigerians.

“We specifically thank Mr. President for the confidence and trust in our son, His Excellency, Vice President Sen. KashimShettima, who has proven to be a dedicated, loyal, and capable partner in development.

“Therefore, the Borno State Supervisory Councillors Forum unanimously endorse the Tinubu-Shettima ticket for the 2027 Presidential election. We strongly support the President to retain Vice President Sen. KashimShettima as mate for the 2027 Presidential ticket, ensuring continuity and socio-economic gains currently being achieved in our great country.”

The councillors gave the endorsement based on the fact that the APC party under Professor Babagana Zulum has been doing well in his second term in Borno state following in the footsteps of the party at the national level.

They named sectors like Agriculture, education and the health sector as major areas of achievement of the academic turned politician Governor Babagana Zulum who has been a trailblazer in developmental projects in the state.

Borno State Councillors endorse Tinubu/Kashim for a second term

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Boko Haram, ISWAP reconcile with Bakoura Doro faction in North-East, forge alliance

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Boko Haram, ISWAP reconcile with Bakoura Doro faction in North-East, forge alliance

By: Zagazola Makama

In a major development that could reshape the security landscape in the North-East, Boko Haram and the Islamic State of the West African Province (ISWAP) have reconciled with the Bakoura Doro faction after years of bloody rivalry.

Zagazola Makama gathered that the reconciliation, according to credible intelligence marks a significant shift in the dynamics of the insurgency that has ravaged Borno and neighbouring states for over a decade.

Boko Haram, officially known as Jama’at Ahl al-Sunna li al-Da’wa wa al-Jihad (JAS), and ISWAP reportedly reached a truce with the Bakoura Doro group on Thursday, after weeks of internal negotiations aimed at consolidating their fighting strength and realigning their operational commands.

However, ISWAP leaders maintained their position of hostility toward the Abubakar Shekau faction, now under the command of Ali Ngulde, whose loyalists are entrenched in the Mandara Mountains along the Nigeria–Cameroon border.

According to field sources, ISWAP commanders used the meeting to warn their fighters against indiscriminate killings of local residents, citing the incident in Kirawa where innocent civilians were executed in error.

The group reiterated that attacks should only target government-backed militias and members of the Civilian Joint Task Force (CJTF), whom they accused of bearing arms against them.

Despite this rhetoric of restraint, both ISWAP and Boko Haram factions vowed to intensify their campaign of violence, with Boko Haram operatives under Bakoura Doro reportedly planning a renewed wave of kidnappings-for-ransom and bloodletting in vulnerable communities across Borno, Yobe, and Adamawa states.

Security analysts view this reconciliation as a troubling development that could embolden the insurgents to regroup, and coordinate large-scale attacks against both military and civilian targets.

“The reconciliation between ISWAP and Bakoura Doro’s faction effectively closes one of the key internal cracks that previously weakened the insurgency. It allows them to pool resources, fighters, and logistics, which may translate to renewed offensives, particularly in border areas and ungoverned spaces.

Meanwhile, the Nigerian military continues to sustain pressure on terrorist enclaves through coordinated land and air operations, with the goal of preventing the insurgents from re-establishing control over liberated territories.

As the insurgents’ alliance solidifies, analysts caution that Nigeria and its regional partners must strengthen intelligence sharing, border control, and community engagement to mitigate the security risks posed by this new wave of jihadist consolidation.

Boko Haram, ISWAP reconcile with Bakoura Doro faction in North-East, forge alliance

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Troops humiliate ISWAP in Ngamdu, kill 15 terrorists in ngamdu battle

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Troops humiliate ISWAP in Ngamdu, kill 15 terrorists in ngamdu battle

By: Zagazola Makama

In yet another demonstration of tactical superiority and resilience, troops of Operation Hadin Kai have repelled a coordinated attack by Islamic State West Africa Province (ISWAP) terrorists on Ngamdu in Kaga Local Government Area of Borno State, killing 15 insurgents and uncovering their mass grave.

Zagazola Makama learnt that the attack, which occurred in the early hours of Friday, was described by military sources as “one of the most daring but costly misadventures” by ISWAP fighters, who launched simultaneous assaults on troops from three different flanks.

According to reliable sources, the terrorists began the offensive from the Gonori axis around 3 a.m., apparently to divert troops’ attention from their main objective. The diversionary assault was swiftly contained by the gallant troops, forcing the attackers to retreat with casualties.

The second wave of attack, launched along the Maiduguri–Damaturu highway, involved the use of command Improvised Explosive Devices (IEDs), rocket-propelled grenades.

Despite the intensity of the assault, troops advancing from Benisheikh managed to charge through the ambush position, though one Mine-Resistant Ambush Protected (MRAP) vehicle sustained damage to its engine and tyres.

The third flank of the attack targeted Alpha Company’s defensive location near the main supply route, but despite minor infiltration into their outer perimeter, the soldiers held their ground firmly and neutralized several of the attackers in close-quarter combat.

The sources said four soldiers paid the supreme price while three were wounded in action during the encounter.

Subsequent intelligence gathered from local sources revealed that ISWAP fighters conducted a mass burial for 15 of their slain members at Bula Wura village near Wasaram, less than 24 hours after the failed operation.

“The attack was well-coordinated but the response was even more professional. The terrorists came in waves, using multiple tactics, but our men held their ground and made them pay heavily,” said one military sources.

The military has also intensified clearance operations along the Maiduguri–Damaturu highway after terrorists planted IEDs to delay reinforcements. The road was temporarily closed for demining operations to ensure the safety of commuters.

As the military continues to dominate the theatre of operations, local communities are beginning to express renewed confidence in the ongoing counter-terrorism efforts, which have seen a steady decline in insurgent activities across major highways and rural settlements in recent months.

Troops humiliate ISWAP in Ngamdu, kill 15 terrorists in ngamdu battle

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