International
BOI, AFD Sign €2.5m Grant Agreement
BOI, AFD Sign €2.5m Grant Agreement
By: Michael Mike
Bank of Industry (BOI) and the French Development Agency (AFD) have signed a grant agreement for €2.5 million delegated by the Green Climate Fund (GCF) which will further their partnership to fight climate change in Nigeria.
A statement on Thursday by the French Embassy in Nigeria, said France having committed more than €1.5 billion to the Green Climate Fund since 2019, it was only natural that the meeting took place at the French Embassy under the primary patronage of the French Ambassador to Nigeria and ECOWAS.
Earlier on August 23rd, 2022, BOI and AFD have signed a €100m credit-line for the expansion of green finance in Nigeria. This was approved under AFD’s Transforming Financial Systems for Climate (TFSC) Programme with the Green Climate Fund (GCF), a USD650 million-Programme developed in 17 countries for 100% climate investment projects.
The TFSC Programme focuses on financing investments that contribute to climate change mitigation or adaptation, specifically projects focused on renewable energy, low carbon and efficient energy generation, climate smart agriculture technologies, clean urban transportation and others.
With the BoI and AFD understanding the importance of mainstreaming Climate Finance within BOI’s strategy and operations; therefore, the grant agreement sets up a technical assistance scheme for BoI.
According to the statement, the objective is to build the capacity of BoI, thereby providing tools for effective identification and development of eligible bankable climate-related projects as well as improving the readiness of the bank’s customers to implement green practices in their operations.
The statement added that in this context, the implementation of the Environment and Social Governance framework provided for in the credit agreement will be an important part of the technical assistant mandate.
Managing Director/Chief Executive Officer, Bank of Industry, Mr. Olukayode Pitan, at the grant agreement signing ceremony, said: “Given the serious threat that climate change poses to equitable and sustainable development in Nigeria, it is critical for us at BOI to take the lead in mobilizing capital for green and sustainable investment. In addition to the line of credit, the € 2.5m Technical Assistance funds will support capacity building for BOI and its customers, thereby enabling the scaling of current efforts by BOI towards climate change mitigation and adaptation. This will contribute significantly to reducing Nigeria’s carbon foot print.
“With specific reference to Gender Equality, the technical assistant will support BOI in the development and implementation of professional gender equality and gender lens investing policies”
Country Director for AFD, Mr. Xavier Muron bearing in mind the Paris Agreement, recognized BoI’s commitment to embed sustainability in its business practices to drive strategic social, economic and environmental impact in the communities the Bank serves.
Needless to say that for BoI, a key financial actor supporting the country’s goal to reach carbon neutrality, having a strong technical assistance to build its climate finance strategy is paramount,
Pitan acknowledged the dedication of AFD, the GCF and its strategic partners to ensure a smooth and efficient implementation of this deal.
He said: “BOI welcomes its partnership with the AFD and GCF as it continues to implement President Muhammadu Buhari’s policies with respect to climate finance. We commend the professional approach adopted by these partners in delivering this technical assistance package. We are confident it will enhance BOI and its customers’ capacity and readiness for climate finance. We believe this is the beginning of a long and mutually beneficial relationship.”
Meanwhile, Muron appreciated the strong relationship BoI and AFD have been building and looks forward to further support the BoI in its activities towards achieving the SDGs.
BOI, AFD Sign €2.5m Grant Agreement
UK Expresses Commitment to Restoration of Peace in Northeast
By: Michael Mike
The United Kingdom has expressed its commitment to the restoration of peace, stability and sustainable solutions to the troubled Northeast region which has been bedeviled by insurgency.
The British Deputy High Commissioner, Gill Atkinson made the commitment on Monday when she paid a courtesy call on Borno State Governor Babagana Zulum in Maiduguri.
Atkinson who commended Zulum for his commitment to fighting insurgency in Borno, said: “On behalf of the British Government, I recognise the effort of His Excellency, the Governor, in tackling insurgency and supporting the people of Borno State, particularly aiming to secure a prosperous future for the people displaced by insurgency.
“I want to reaffirm the UK’s commitment to supporting peace, stability and sustainable solutions, particularly through the ongoing regional stabilisation facility.”
Responding, the Secretary to Borno State Government who received the Deputy High Commissioner on behalf of Governor Zulum, expressed appreciation to the UK Government for their partnership and support.
He said,: “With the UK Government to start with, we have quite a number of very strong partnerships. His Excellency appreciates it, and he specifically instructed me to convey the special message of appreciation.”
The meeting was attended by the Commissioner for Environment, Engr Emet Kois, Education, Engr Lawan Abba Wakilbe, Work and Housing, Engr Mustapha Gubio, Transport and Energy, Aliyu Mohammed Bamanga and Inter-Governmental and Special Duties, Tukur Shani.
Others in attendance include Special Adviser on Security to the Governor, Abdullahi Ishaq, the Senior Technical Assistant, Political, to the Governor, Alhaji Tahiru Shettima, Permanent Secretary of political and cabinet, Danjuma Ali, and the Executive Secretary of Borno State Agency for Coordination of Sustainable Development and Humanitarian Response (BOACSDHR), Babakura Mamman Gadai.
UK Expresses Commitment to Restoration of Peace in Northeast
Troops Foil Bandit Attack in Dabai Town, Kebbi
By: Zagazola Makama
A swift response by the Nigerian troops in Kebbi has foiled a bandit attack on Dabai Town, forcing the assailants to flee after a gun battle with security operatives.
Intelligence sources told Zagazola Makama that the attack occurred around 2 a.m. when suspected bandits attempted to invade the town.
“Security forces were immediately dispatched to intercept the assailants and engaged them in a fierce exchange of gunfire,” the source said. “Overwhelmed by superior firepower, the bandits abandoned their mission and escaped.”
While no casualties were reported, security operatives have intensified patrols in the area to prevent further attacks.
Troops Foil Bandit Attack in Dabai Town, Kebbi
U.S. Condemns Killing of Catholic Priest in Kaduna
By: Zagazola Makama
The United States Mission in Nigeria has condemned the brutal killing of Reverend Father Sylvester Okechukwu in Kaduna State, describing it as a senseless act of violence.
In a statement posted on its official X (formerly Twitter) account, the U.S. Mission expressed deep distress over the incident and extended condolences to the family, congregation, and community of the late cleric.
“We strongly condemn this horrific act of violence. Our thoughts are with them during this time of profound grief,” the statement read.
The mission also called on Nigerian authorities to ensure that those responsible are brought to justice.
Father Okechukwu’s killing has sparked outrage and renewed calls for enhanced security measures, especially in regions affected by banditry and violent attacks.
The Kaduna State Police Command has yet to issue an official statement on the incident, but security agencies are reportedly investigating the circumstances surrounding his death.
U.S. Condemns Killing of Catholic Priest in Kaduna
Malians Youth Gang Violent Clashes Claims Life in Maiduguri
Remnant IED Explosion Injures One in Borno
Suspect Dies After Torture in Kaduna
Roger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
THE PLIGHT OF FARIDA
EYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
News1 year agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions3 years ago
THE PLIGHT OF FARIDA
-
News1 year agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Opinions3 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
Columns1 year agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
ACADEMICS1 year agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Opinions1 year agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
-
Politics8 months agoKashim Shettima: Of Sentiments, Their Opinions, and the 21 billion Naira VP’s Official Resident
