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Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

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Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

By: Michael Mike

African investment banking franchise, Emerging Africa Group (EAG) said it will be raising a minimum of N250 billion capital to finance infrastructure development and Micro, Small and Medium Enterprises (MSMEs) in Northern Nigeria in the next two years.

The Executive Vice Chair of the Company, Mrs. Oluwatoyin Sanni disclosed this at the Opening of the new Abuja Office Complex of EAG which will oversee the operation of the investment bank in the entire Northern Nigeria.

Sanni said the North requires huge financing especially in infrastructure in order to speed up development in the region. 

She said: “There can’t be development or growth without adequate infrastructure, so what we aim to do is to help them raise funds (North) for infrastructure development.  As we speak, we have gone on four different exercises to raise funds for road development in Niger state.”

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She added that: “So first of all, we offer Northern states opportunity to raise funds from the capital market, by private bonds and notes for all their different infrastructure needs. We are also involved in raising funds for some state-backed initiatives. We also provide Micro and SME finance for these small businesses that ordinarily struggle to raise capital and we have many of them both in the North and the rest of Nigeria and Africa.”

Sanni disclosed that Emerging Africa had set out a target to raise up to $1 billion over a five-year period for businesses in Nigeria and the rest of Africa when it started business, but said the company successfully met the target three and half years into the plan.

The Executive vice Chair said this encourage the Group to set a fresh target to raise $4 billion over the next five years for businesses in Africa. 

On how the Group raises capital, she explained, “When we target to raise this capital, what we do is that we match-make between the surplus segment of the economy and the deficit segment.  We look for partners, local banks, international banks, and development finance institutions, similar investment banks like us, institutional investors and wealthy families.  We crowd them all in, to invest in segments and sectors that we think can have a catalytic effect for the development of the economy.”

On the infrastructure funding for development of roads in Niger state,  Sanni said the Group did a final signing ceremony for a private bond that it raised, to the tune of N13.2 billion.   

She disclosed that the funding was raised for a private infrastructure funding company that would then deploy the money to the development of projects within the state.  

She said: “That way we bring private sector accountability, private sector transparency and unique funding structure. Niger state is a partner and a beneficiary to that funding.” 

The Executive Vice Chairman said the Group decided to open a more befitting office in Abuja to provide investment management, wealth management, trust services, capacity building, financial technology solutions to develop Abuja and the entire North.

She said: “We are bringing funding access, investment management capability, recent technical skills; we are bringing transparency and quality investment management services to Abuja and to the entire North.”

Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

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ECOWAS Sounds Alarm Over Gulf Escalation, Warns of Economic Shockwaves for West Africa

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ECOWAS Sounds Alarm Over Gulf Escalation, Warns of Economic Shockwaves for West Africa

By: Michael Mike

The Economic Community of West African States (ECOWAS) has raised fresh concerns over the escalating hostilities in the Gulf region, cautioning that a prolonged conflict could unleash severe economic and security repercussions far beyond the Middle East, with Africa among the hardest hit.

In a statement issued under the chairmanship of Julius Maada Bio, President of Sierra Leone, the 12-member regional bloc aligned itself with the position earlier expressed by the African Union Commission, which has voiced deep unease over the intensifying military exchanges.

The warning comes at a time when global energy markets are already on edge. The Gulf region remains central to international oil and gas supplies, accounting for a significant share of global crude exports. For West African economies — many of which are net importers of refined petroleum products despite being crude producers — volatility in oil prices translates quickly into domestic inflation, currency pressures and rising transport and food costs.

ECOWAS noted that beyond energy, the Gulf serves as a strategic artery for global trade. Key maritime routes, including those connected to the Strait of Hormuz, facilitate the movement of energy supplies and commercial goods between Asia, Europe and Africa. Any disruption risks compounding supply chain fragilities that have persisted since the COVID-19 pandemic and the Russia-Ukraine conflict.

For food-import-dependent nations across West Africa, the stakes are particularly high. Many countries in the region rely heavily on imported wheat, fertiliser and other agricultural inputs sourced through global supply chains sensitive to geopolitical shocks. Previous international crises have demonstrated how quickly distant conflicts can drive up bread prices and deepen food insecurity in African cities.

In its statement, ECOWAS urged all parties to exercise maximum restraint and adhere strictly to international law and the principles of the United Nations Charter, including respect for sovereignty, territorial integrity and the peaceful settlement of disputes. It stressed that civilian lives and critical infrastructure must be protected at all times.

The bloc also called for renewed diplomatic engagement within established international and regional frameworks, arguing that dialogue remains the only sustainable path to de-escalation. West African leaders have historically positioned the region as a strong advocate for multilateralism, often promoting negotiated settlements in conflicts both within and outside the continent.

Analysts observe that ECOWAS’ swift alignment with the African Union reflects a broader concern about the cumulative impact of global instability on African economies already grappling with debt burdens, currency depreciation and climate-related pressures. Rising energy prices could strain public finances, while shipping disruptions could intensify shortages of essential commodities.

The statement underscores a growing recognition among African policymakers that geopolitical flashpoints thousands of miles away can have immediate and tangible consequences at home. As tensions mount in the Gulf, ECOWAS has signalled that West Africa is watching closely — and urging diplomacy over escalation in the interest of global and regional stability.

ECOWAS Sounds Alarm Over Gulf Escalation, Warns of Economic Shockwaves for West Africa

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Army troops foils ISWAP attack on picketing troops in Konduga, Borno

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Army troops foils ISWAP attack on picketing troops in Konduga, Borno

By: Zagazola Makama

Troops of Joint Task Force Operation HADIN KAI under the 21 Special Armoured Brigade have successfully repelled an attack by suspected Islamic State West Africa Province (ISWAP) terrorists on picketing personnel in the North East, of Konduga Borno state.

According to sources at about 1215 hours on February 26, picketing troops at checkpoint came under attack by elements of Boko Haram terrorists.

The soldiers responded aggressively while the Quick Reaction Force (QRF), led by the Sunray team, swiftly mobilised to the contact point where fire was exchanged with the terrorists. The attackers reportedly fled into the Yale Forest following the encounter.

In the aftermath, troops conducted exploitation along the terrorists’ withdrawal route and recovered one PKT believed to belong to the attackers.

The sources confirmed that the operation did not result in any casualties or injuries among the JTF personnel, and no equipment was lost.

The JTF added that monitoring of the area continues, and the morale and fighting efficiency of the troops remain satisfactory.

The sources said that the latest operation demonstrates the continued vigilance and readiness of the JTF in the North East to protect civilians and deny terrorists freedom of movement.
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Zulum Declares 2026 Year of Consolidation, Intensifies Security and Reconstruction Drive in Borno State

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Zulum Declares 2026 Year of Consolidation, Intensifies Security and Reconstruction Drive in Borno State

By: Michael Mike

Borno State Governor, Prof. Babagana Zulum has declared that his administration will intensify efforts to eliminate residual security threats and fast-track the completion of critical infrastructure projects across Borno State in 2026, describing the year as decisive for consolidating hard-won gains.

The governor made the commitment on Thursday during the first State Executive Council meeting of the year at the Government House in Maiduguri, where he addressed commissioners and senior government officials on the administration’s priorities.

Zulum said although relative stability has returned to many parts of the state after years of insurgency, the government would not relent until every community is safe.

“We have made measurable progress in restoring peace, but our task is not finished. Security remains the foundation upon which every other intervention stands. We will continue to support security agencies and ensure that no part of Borno is left vulnerable,” he stated.

A central pillar of the 2026 agenda, according to the governor, is the resettlement of internally displaced persons (IDPs), with emphasis on durable, long-term solutions rather than temporary relief.

He explained that the state government would deepen investments in housing, healthcare, education and livelihood programmes to ensure that returning families can rebuild their lives sustainably.

“Our goal is not just to return people to their communities, but to restore dignity, economic stability and hope. Resettlement must translate into real recovery,” Zulum said.

The governor also announced plans to strengthen social protection systems to shield vulnerable populations from economic shocks and the lingering effects of conflict. He described social protection as a strategic tool for stabilisation and inclusive growth.

“Social protection remains central to our rebuilding process. As we provide infrastructure and social amenities, we must also strengthen support systems for widows, orphans, and the most vulnerable in our society,” he added.

Zulum directed members of the executive council to ensure the timely completion of all ongoing projects across the state’s three senatorial districts. These projects cut across road construction, healthcare facilities, schools, water supply schemes and agricultural development initiatives.

He warned against delays and cost overruns, stressing the need for accountability, transparency and rigorous supervision.

“Every project must reflect value for money and must be delivered within schedule. Our people deserve visible and measurable progress,” he said.

The meeting was attended by the Secretary to the State Government, Bukar Tijani; Acting Chief of Staff, Dr. Babagana Mallumbe; and other top officials.

With the renewed focus on security consolidation and accelerated development, the Borno government signalled its determination to shift from emergency response to structured recovery, anchoring the state’s future on stability, infrastructure expansion and strengthened social systems.

Zulum Declares 2026 Year of Consolidation, Intensifies Security and Reconstruction Drive in Borno State

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