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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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Yobe: Flood kills 10 in Jakusko

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Yobe: Flood kills 10 in Jakusko

By: Yahaya Wakili

The Executive Chairman of Jakusko local government area of Yobe state, Hon. Umaru Aguwa, has said that about 10 people died in Jakusko local government area as a result of the floods this year.

Aguwa disclosed this to newsmen in his office at Jakusko, the headquarters of the council. He said the council has constructed over 15 canoes and distributed them to the towns that were worst affected by the floods in the local government area.

“We thank God for what is happening because the disaster triggered by heavy rainfall in the area and Dan Takunne village was worst affected by the flood, but no lives were lost but many properties were destroyed.

He revealed that His Excellency, the Executive Governor of Yobe State, Hon. Mai Mala Buni CON, sent us officials of SEMA under the leadership of the Executive Secretary, Dr. Mohammed Goje. We want to go to Dan Takunne village and go round and access the damage because Dan Takunne were swept away by the floodwaters. 

“The council also purchased empty sacks and distributed them to all affected areas with a view to controlling the water. Adding that, God, in his mercy, our lucky River Yobe is not overflooding enough this year unlike before, but the floods are almost touching everywhere in Jakusko local government,” he said.

According to him, this disaster triggered is from God, and since the rain fell this year, they didn’t spend good three days without getting water, and everybody knows that this is from Almighty Allah (SWT); therefore, let us pray to God to reward us abondant in his mercy.

The Chairman commends His Excellency, the Executive Governor of Yobe State, Hon. Mai Mala Buni CON, Chiroman Gujba, for his efforts towards assisting the local government councils in the state.

He urges the people to be patient; there is an alternative for irrigation farming, and if people engage fully in this irrigation farming, Inshallah, God will reward us with what we lost at the back.

Yobe: Flood kills 10 in Jakusko

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Zulum Activates Gov’t Machinery to Avert Flood Disaster in Borno

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Zulum Activates Gov’t Machinery to Avert Flood Disaster in Borno

… Borno SSG to Coordinate Emergency Response

By: Our Reporter

Borno State Governor, Babagana Zulum has directed the immediate activation of all relevant government resources and machinery ahead of any possible overflow of water due to the unprecedented high volume of rainfall this year, to avert any flood disaster in Maiduguri, it’s environs and other parts of the state.

Zulum’s directive, released in a statement by his Senior Special Assistant on New Media, Abdurrahman Ahmed Bundi, became imperative due to rising concerns about the possible overflow of the Alau Dam, which recharges Maiduguri city’s water treatment plants for domestic use and irrigation.

The Governor noted with concern that the high volume of rain across parts of the state may possibly lead to flooding.

Zulum consequently instructed all relevant government agencies and local councils to dutifully discharge their responsibilities by continuously assessing vulnerable areas, implementing preventive measures, and conducting public awareness campaigns across all communities in their domains.

The Governor also cautioned the public to be conscious about the possible risks, be vigilant and abide by all directives from government agencies and constituted authorities on all emergency response protocols.

The Governor directed that all local government councils should mobilise all relevant officials and units to conduct site assessments in at-risk neighbourhoods and collaborate with relevant Civil Society Organisations (CSOs), Community-Based Organisations (CBOs), community and religious leaders, and other opinion leaders and institutions.

He said that government has identified high-risk locations that are prone to flooding, and is implementing solutions such as constructing temporary barriers and establishing emergency evacuation routes.

“We cannot afford to be complacent in the face of this impending challenge”, Zulum was quoted as saying. “It is imperative that we should mobilize all our resources, engage all stakeholders across communities, and implement effective measures to safeguard our people.”

“We have a standing committee to mitigate flooding; which, has in the past evacuated and led to the construction of more drainages in different parts of the state. I have instructed more measures to avert any emergency health epidemic. We have also established the Agency for the Great Green Wall.”

“We have also desilted, dredged and constructed concrete retaining walls around River Ngada to avert erosion that could possibly lead to flooding of Maiduguri and its environs.”

“As part of the long-term measure, we intend to construct structures to harvest water for irrigation and embark on soil conservation, including reinforcement at the river banks and desilting of river Ngada to allow free passage of water.”

… Borno SSG to Coordinate Emergency Response

Meanwhile, the Secretary to the Borno State Government, Alhaji Bukar Tijani, is coordinating the flood emergency responses to ensure the Governor’s directives are fully implemented to ensure the safety of all residents.

The SSG has visited Alau Dam, Gongulong, Gwange, Farm Center, 505 Housing Estate and several other locations within the metropolis and environs to assess the situation and provide the necessary guidance to avert collosal damage from any possible flooding.

Many Nigerian states, including in the North-east have experienced flood disasters this year, which have been attributed to the unprecedented volume of rainfall this season.

Zulum Activates Gov’t Machinery to Avert Flood Disaster in Borno

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COAS EMBARKS ON WORKING TOUR OF 17 BRIGADE, CHARGES TROOPS TO UP OPERATIONAL TEMPO, CONDOLES THE YAR’ ADUAS, KATSINA GOVERNMENT

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COAS EMBARKS ON WORKING TOUR OF 17 BRIGADE, CHARGES TROOPS TO UP OPERATIONAL TEMPO, CONDOLES THE YAR’ ADUAS, KATSINA GOVERNMENT

By: Our Reporter

The Chief of Army Staff (COAS) Lieutenant General Taoreed Lagbaja has embarked on a working tour of 17 Brigade Area of Responsibility in a deliberate effort to access and reinvigorate ongoing counter-terrorism counter-insurgency operations in North West Nigeria.

The COAS, who arrived at the Headquarters 17 Brigade in Katsina with a team of principal staff officers from the Army Headquarters on Friday 6 September 2024, immediately received a brief on the security situation and operational disposition of the Brigade by the Commander, Brigadier General Babatunde Omopariola.

Addressing the troops, the COAS stated that in pursuit of his Command Philosophy to provide efficient leadership, sound administration, and operational effectiveness, the Nigerian Army (NA)has initiated several welfare schemes to shore up the morale of troops by progressively improving the living standard and condition of personnel and their families.

He clarified that the attainment of these goals have been tenaciously pursued by commencing the payment of the backlog of Group Life Assurance scheme that had accumulated since 2017, as well as the Personnel Accident Insurance Scheme to NA beneficiaries.

Gen Lagbaja also pointed out that the NA has introduced the Affordable Housing Options for all Soldiers (AHOOAS) post service Housing scheme to provide highly subsidized post service residential accommodation for personnel alongside ongoing massive rehabilitation of medical facilities, Barracks and infrastructure across NA formations and units in the country.

He added that the NA has initiated COAS Loan Schemes to economically empower personnel and their families. These he maintained are aside provision of several combat enablers to troops to enhance operations against the terrorists. He charged the troops to rise up to the security challenges in the region and go after the insurgents in their hideouts.

Gen Lagbaja also took time out to visit sick soldiers and their families at the 17 Brigade Medical Centre, where he gave immediate directive for installation of some essential medical equipment in the center. He later laid a wreath in honour of troops who paid the supreme price in the fight against terrorists and bandits at the 17 Brigade Headquarters Cenotaph.

Meanwhile, the Governor of Katsina State Dr Dikko Umar Radda has stated that security has progressively improved in the state with the return of farmers to their farmlands.

The Governor made this known when he received the COAS in the Katsina state Government house during a courtesy cum condolence visit to the Governor. The Governor noted further that the state has witnessed a reduction in the menace and farmers are returning to their farms.

He attributed the development to the synergy and joint effort of all the security agencies. Governor Dikko appealed to the communities not to relent in supporting the troops with credible information, stressing that without the cooperation of the communities, the ongoing operations will not succeed.

The COAS had earlier in his remarks pointed out that he was on an assessment tour of ongoing operations, state of infrastructure and Civil-Military Cooperation activities in the Brigade.

He expressed appreciation to the Government and people of Katsina state for their support to the NA and particularly to troops of 17 Brigade. The COAS equally paid a courtesy call on His Royal Highness Alhaji Dr Abdulmumuni Kabir Usman, Emir of Katsina, where he acknowledged the critical role of the traditional institution in mobilizing the people to support the troops in order to completely stamp out security threats and challenges.

Also in Katsina, the COAS has described the passing of Hajiya Dada Yar Adua as a loss of one of the legendary and virtous matriarchs of the Nigerian Army family.

Gen Lagbaja made this known when he paid a condolence visit to the Chairman Senate Committee on Army, Senator Abdulazeez Yar Adua and other members of the bereaved family during his working tour of 17 Brigade.

The Army Chief noted that officers and soldiers of the Nigerian Army share in the grief and pains of the Yar Aduas as a family that gave two illustrous sons to the Nigerian Army.

He prayed for God to grant the family and the people of Katsina the fortitude to bear the irreparable loss.

COAS EMBARKS ON WORKING TOUR OF 17 BRIGADE, CHARGES TROOPS TO UP OPERATIONAL TEMPO, CONDOLES THE YAR’ ADUAS, KATSINA GOVERNMENT

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