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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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One killed, another injured in Kum village ambush in Riyom

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One killed, another injured in Kum village ambush in Riyom

By: Zagazola Makama

A man was killed and another critically injured on Tuesday night following an ambush by unknown gunmen in Kum village, Riyom Local Government Area of Plateau State.

The victims, identified as Joshua Ezekiel, 48, and Dung Jatau, 51, were reportedly riding on a motorcycle along the Riyom to Kum road at about 8:15 p.m. when they were attacked by armed men who opened fire on them.

Residents said the injured were rushed to the General Hospital in Riyom, where Ezekiel was pronounced dead on arrival. Jatau is currently receiving medical treatment and is said to be in stable condition.

Tension remains high in the area as locals express concern over the safety of rural commuters, especially during evening hours.

Community leaders in Riyom have called for calm and urged residents to remain vigilant. Meanwhile, efforts are underway to identify and apprehend the attackers.

Police said they have lunched investigation into the incident.

One killed, another injured in Kum village ambush in Riyom

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Northeast Governors renew call for joint action on insurgency, poverty at 11th forum meeting

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Northeast Governors renew call for joint action on insurgency, poverty at 11th forum meeting

By: Zagazola Makama

As security concerns and economic hardship continue to weigh heavily on Nigeria’s Northeast region, governors of the six states converged on Damaturu, the Yobe State capital, on Thursday to chart a common path for peace, recovery, and prosperity.

The 11th meeting of the North-East Governors’ Forum (NEGF), held at the Banquet Hall of the Government House, witnessed robust deliberations, passionate appeals, and renewed calls for unity, collaboration, and strategic action against the persistent threat of insurgency and deepening poverty in the region.

Chairman of the Forum and Governor of Borno State, Prof. Babagana Umara Zulum, CON, led the charge in his opening address, painting a stark picture of the challenges facing the region and urging urgent collective action to change the narrative.

“It is with a deep sense of honour and responsibility that I welcome Your Excellencies to this 11th meeting of the vibrant North-East Governors’ Forum,” Zulum said.

He described the current economic situation in the region as dire, noting that food insecurity, rising transportation costs, poor healthcare, and the erosion of purchasing power had deepened the suffering of the people.

“We must take bold steps to address the poverty crisis, which is not just an economic issue but also a social and humanitarian emergency,” he said.

The Borno governor commended the Nigerian Armed Forces for their ongoing sacrifices in the fight against terrorism, but called for a review of operational strategies in light of recent Boko Haram attacks in some areas.

“The re-emergence of insurgent attacks is alarming and could undermine the successes already recorded. I humbly suggest that the military revisit its strategy and adopt more offensive operations,” Zulum stated.

While reaffirming the importance of agriculture as a key to regional development, Zulum emphasized that farming alone could not lift the region out of poverty. He advocated for the establishment of small and medium-scale industries, backed by improved infrastructure, incentives for private investment, and promotion of innovation.

He called on his fellow governors to invest in roads, electricity, clean water, and youth empowerment initiatives to reverse the tide of unemployment and restiveness.

“We must diversify our economy, reduce poverty, and equip our young people with the skills and opportunities they need to thrive,” he said.

Zulum also warned of impending environmental threats, urging states to act on flood warnings issued by the Nigerian Meteorological Agency (NIMET).

“We must take the warnings seriously. The consequences of inaction are too devastating,” he said.

Zulum reminded his colleagues that regional success depends on unity of purpose.

“As governors, we have a sacred duty to our people. We must support each other and prioritize their needs. Our individual successes are tied to our collective progress,” he said.

He concluded by introducing the new Director-General of the Forum, Umar Musa Gulani, a seasoned public administrator and former Director at the Office of the Secretary to the Government of the Federation.

In his welcome remarks, Governor Mai Mala Buni of Yobe State thanked his counterparts for honoring the invitation and expressed optimism that the forum would yield new strategies to combat insecurity and economic stagnation.

Buni described the Forum as a “critical platform” for collaboration and policy alignment, especially as the region grapples with renewed attacks from Boko Haram and its use of modern technology in assaults.

“This meeting is timely. We must act fast to consolidate our gains in peacebuilding and economic recovery,” he said.

He called for resolutions from the meeting to be shared with federal security agencies to boost coordination and rapid response mechanisms.

Governor Buni also expressed appreciation to President Bola Ahmed Tinubu for his support and leadership, and extended gratitude to the armed forces, Civilian Joint Task Force, and volunteers for their sacrifices.

On economic revitalization, he echoed Zulum’s call for investment in mechanized agriculture, employment generation, and sustainable livelihood programmes.

“We must make agriculture attractive, affordable, and profitable to harness our natural and human resources,” he said.

The governors pledged to continue working with international and local development partners to rebuild communities, resettle displaced persons, and expand regional infrastructure.

The meeting is expected to produce resolutions aimed at strengthening joint security operations, coordinating humanitarian interventions, and promoting regional trade and investment.

As the region continues its long road to recovery, the voices from Damaturu reaffirmed one thing: that the path to peace and prosperity lies in unity, shared vision, and bold action.

Northeast Governors renew call for joint action on insurgency, poverty at 11th forum meeting

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Crime

Police successfully rescue kidnapped ward head in Benue

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Police successfully rescue kidnapped ward head in Benue

By: Zagazola Makama

The Benue State Police Command has successfully rescued Dickson Idu, the Ward Head of Ehatokpe Ohimini, who was abducted on April 30, 2025.

Police sources told Zagazola Makama that the victim was kidnapped from his residence in Ohimini Local Government Area (LGA).

Upon receiving the information, the Commissioner of Police, Benue State, directed the Acting Area Commander Otukpo, the Officer-in-Charge of the Anti-Kidnapping Unit, and a team of officers to immediately proceed to the area and ensure the safe rescue of the victim.

At approximately 8:45 a.m., a combined team of armed conventional policemen, the Anti-Kidnapping Unit, and personnel from the Benue State Civil Protection Guard, supported by Ohimini youths, launched an operation in the Ojanu/Ijami Village forest. The team conducted an intense combing operation, utilizing smoke canisters to pressure the kidnappers.

The strategy paid off, and at about 3:25 p.m., the kidnappers, feeling the heat of the search, released their captive. Dickson Idu was successfully rescued and has been debriefed and reunited with his family.

The sources said while no arrests have been made so far, the police have assured that investigations are underway, with efforts to apprehend the suspects continuing.

Police successfully rescue kidnapped ward head in Benue

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