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BINL Plans $172bn investment in Nigeria’s Infrastructure, Energy, Real Estate, Mining

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BINL Plans $172bn investment in Nigeria’s Infrastructure, Energy, Real Estate, Mining

By: Michael Mike

Backbone Infrastructure Nigeria Limited, has announced its intention to invest $172 billion in Nigeria to develop various infrastructure sectors in the country.

According to a statement by the multi-national company on Saturday, this investment, utilising alternative financing options, will be allocated to mineral resources, energy, agriculture, housing, and transportation sectors for the next 22 years.

The administration of President Bola Tinubu has openly reaffirmed its commitment to enhancing foreign direct investment inflows into the country, while also promoting alternative financing for the construction of essential infrastructure projects.

Last year, the Minister of Industry, Trade and Investment, Doris Aniete, said the government has secured $30bn in commitments from foreign investors.

Despite this amount, Nigeria still requires investments to reduce its infrastructural gap in the region of $3 trillion over a period of 30 years according to the implementation of the National Integrated Master Plan.

The Group Chief Executive Officer, Henry Owonka, said the company with foreign partners is seeking approval for a joint venture model to facilitate its planned investment in the country.

Owonka emphasised that the company intends to align with the current administration’s infrastructure plan, highlighting that a consistent influx of investment, as proposed by the company, is preferable to isolated investments by other investors especially in the mining sector.

He said: “What we are looking for is for us to structure our program of investment, we are not looking for a sovereign guarantee which will deplete the foreign reserves but innovative ways to collateralize those natural resources that the country has in abundance. The president has verbally approved our request.

“The company expressed its interest in investing in the range of commodities. We are seeking approval for a joint venture model because in that way we can draw more investors not only in the country but also outside the country. Because when you have a joint venture with the government, it’s better and that’s what we are seeking rather than for them to just issue land to us.”

The CEO stating plans for the mining sector, noted that the company is ready to invest $4bn, “to explore mineral resources but we need data and that is also one of the offers we proposed so that we can bring in our expertise and help the government obtain accurate data and then we can explore those minerals. This partnership will help the government plan to reduce dependence on crude oil. We also doing this across all the ministries because it’s a $172bn investment drive.”

In a presentation at the Ministry of Solid Minerals Development, the Chief Operations Officer, Clement Kwegyir-Afful, explained that the investment drive is to reduce the huge infrastructural gap in the country.

He noted that: “The current administration is looking for several investments to come in through the private sector to reduce the infrastructure gap. The NBIL have come together as a team to support the government achieve this mandate without any sovereign guarantee.

“We want to help address the energy gap through the use of renewables, so one of our subsidiaries focuses on renewable and how we can address that. We are going to bring in innovative ways of funding through financier engineering to raise funds that would address the infrastructure gap.”

The statement also read: “Minerals exploration is one area the government want to use to create another source of revenue shifting from oil and that is one strong area that we want to focus on. It will raise a different form of revenue.

“To do this will require a significant amount of money, so over the next 22 to 23 years, we are looking to invest $172bn dollars. If you break this down yearly, that works to $6bn every year in investment out of the numerous numbers the president is looking for.

“We have grouped our project into phases; the first one will be the ones that have the most impact on Nigeria’s landscape, so we are looking at hospitals, renewable energies, mineral exploration and exportation because that is where we have huge concerns and also some of the deep sea ports,” he added.

BINL Plans $172bn investment in Nigeria’s Infrastructure, Energy, Real Estate, Mining

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Troops clear bandits’ camps, rescue victims, recover arms in Bauchi

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Troops clear bandits’ camps, rescue victims, recover arms in Bauchi

By: Zagazola Makama

Troops under Operation WUTAN DAJI have cleared several bandits’ camps, rescued kidnapped victims and recovered arms during clearance operations in Bauchi State.

Security sources said troops of 33 Artillery Brigade Garrison, in conjunction with elements of the Brigade Headquarters and a team from the Office of the National Security Adviser (ONSA), carried out the operation in Kumbodoro forest and Kumbodoro village.

According to the sources, the operation was led by the Commander, 33 Artillery Brigade, Brig.-Gen. S.S. Shehu, as part of ongoing efforts to rid the area of criminal elements.

They added that several bandits’ camps, including Azuge camps, were cleared during the operation, while a number of the criminals were neutralised.

Items recovered include four skeletal rifles, four dane guns, two pairs of boots, three helmets, a power bank, a Startimes decoder, one FN rifle magazine, one AK-47 magazine, communication links, a jackknife, six mobile phones, arrows, radio chargers, ATM cards, photographs, identity cards, as well as several pairs of security agency uniforms and leg chains.

The sources further disclosed that eight kidnapped victims were rescued during the operation.

They said troops are currently holding position within the Kumbodoro forest to consolidate gains from the clearance mission.

In a related development, the sources said troops deployed at Duguri, in collaboration with local vigilantes, recovered 36 cows at Mushen Kura village following information that the animals were roaming the area.

“The cows are suspected to have fled from bandits’ camps due to the ongoing operations and are currently in custody for further action,” the sources said.

They noted that troops’ morale and combat efficiency remain high, while operations continue to deny bandits freedom of action in the region.

Troops clear bandits’ camps, rescue victims, recover arms in Bauchi

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Joint security forces raid herders’ camp in Rivers, recover arms and ammunition

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Joint security forces raid herders’ camp in Rivers, recover arms and ammunition

By: Zagazola Makama

Joint security operatives under the Joint Task Force, South-South, Operation Delta Safe, have raided a suspected herders’ camp in Ikwerre Local Government Area of Rivers State, recovering arms and ammunition.

Security sources said the operation was carried out at about 1:30 p.m. on April 12 along the IPO community axis by troops of 6 Division Garrison in collaboration with personnel of the Air Force, Navy, Police, Department of State Services (DSS) and Civil Defence Corps.

According to the sources, the raid targeted identified herders’ and cattle rearers’ camps in the area.

They added that items recovered during the operation include one AK-47 rifle, one pump-action gun, 274 rounds of 7.62mm special ammunition and four mobile phones.

The sources noted that the operation is part of ongoing efforts to curb illegal possession of firearms and enhance security across the Niger Delta region.

Joint security forces raid herders’ camp in Rivers, recover arms and ammunition

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Zulum establishes quarry centre, procures 70 trucks for infrastructure development

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Zulum establishes quarry centre, procures 70 trucks for infrastructure development

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has announced the establishment of a quarry centre in Pulka, Gwoza Local Government Area, to accelerate infrastructure development in the state.

Zulum made this announcement on Monday while flagging off the distribution of 70 brand-new Howo pickup trucks to the Ministry of Works and the State Road Maintenance Agency (BORMA) at the Government House.

The 70 Howo trucks are designed to boost the operational capacity of the Ministry of Works and its supervising agencies. The trucks will enable the swift delivery of materials to sites and faster intervention on distressed roads.

According to the governor, the quarry centre will provide locally sourced materials including granite, gravel and sharp sand to support ongoing and future road projects, reducing dependence on external suppliers and cutting costs.

“We have achieved a lot in health, education, agriculture, security, and road construction among others. However, we still have challenges of constructing roads within the state, especially in rural communities,” Zulum said.

“My administration has established a quarry plant in Pulka with a processing capacity of 120 tons per hour. The State Government spent at least 3 billion to establish the quarry plant”, he added.

According to the governor, due to the prevailing insecurity, most contractors are not willing to work in Borno.

“You know, no serious contractor will take the risk of deploying his equipment to most of the implementing areas, so this is the reason we are here”, the governor reinstated.

“So, we have no option but to strengthen the capacity of the Ministry of Works, the capacity of Borno State Road Maintenance Agency (BORMA), the capacity of special projects, monitoring departments and other MDAs that are responsible for road construction.”

The brief ceremony was attended by the Secretary to Borno State Government, Bukar Tijani, Acting Chief of Staff, Dr Babagana Mustapha Mallumbe, Permanent Secretary Ministry of Works, Engr Baware, BORMA Chairman, Engr Sadu Auno, the Special Adviser on Monitoring and Evaluation, Engr Bukar Gujubawu and other senior officials.

Zulum establishes quarry centre, procures 70 trucks for infrastructure development

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