National News
EBID Signs USD30 Million Credit Line with Access Bank
EBID Signs USD30 Million Credit Line with Access Bank
… Other Financial Lifeline with Two Malian Companies
By: Michael Mike
ECOWAS Bank for Investment and Development (EBID) has signed a credit line of $30 million with Access Bank Plc in Ghana Small and Medium Enterprises (SMEs) to boost the agricultural business and related sectors, including processing, infrastructure, transport, and
women-owned businesses in the West African country.
The bank also signed two other separate finance agreements with two companies Baraka and Societe Niangadou Distribution Compagnie (NDC).
A statement from the bank on Wednesday read that: “On the side lines of the 30th Annual Meetings of the Afreximbank, the President and Chairman of the Board of Directors of the ECOWAS Bank for Investment and Development (EBID), Dr George Agyekum Donkor, has signed three separate finance agreements with three companies namely Baraka, Societe Niangadou Distribution Compagnie (NDC)
and Access Bank Plc on Tuesday June 20, 2023, in Accra, Ghana.”
According to the statement, the first agreement entails an extension of facility amounting to EUR 10 million, aimed
at increasing Baraka’s capacity to finance the supply of petroleum products to marketers and mining companies in the Republic of Mali. This follows a previous agreement in 2022, where EBID extended a facility of EUR 7 million to Baraka SBP for the acquisition of 47 tanker trucks, expanding the company’s fleet to meet the growing demands of the Malian economy.
The second agreement focuses on enabling Societe NDC SAU to expand its interventions in the energy sector of Mali as a petroleum product supplier. It provides a revolving facility of EUR 10 million for the importation and marketing of petroleum products.
The statement said together, these two agreements demonstrate EBID’s commitment to supporting projects in both the private and public sectors in Mali, with a cumulative commitment of 275 billion FCFA.
The third agreement involves a credit line of $30 million to Access Bank Plc in Ghana, dedicated to on-lending to Small and Medium Enterprises (SMEs) in the agricultural business and related sectors, including processing, infrastructure, transport, and women-owned businesses.
The statement said “Dr George Agyekum Donkor, President of EBID, emphasized that the signing of these agreements aligns with the bank’s strategic orientation to invest in the growth poles of ECOWAS Member States. He highlighted Mali as a landlocked, non-oil-producing country heavily dependent on fuel transported by tankers from neighboring countries.
“Dr Donkor stressed the importance of ensuring a consistent supply of petroleum products to support key economic activities, particularly in sectors such as industry and mining. He urged all stakeholders to utilize these facilities effectively to foster the transformation of ECOWAS communities.”
According to the statement, representatives from each company, including Mr. Sadio Bathily, Managing Director of Baraka, Mr. Mamadou Niangadou, Chief Executive Officer of Societe NDC SAU of Mali, and Mr. Olumide Olatunji Managing Director of Access Bank Plc, expressed their appreciation and commitment to utilizing the financing to drive growth, enhance operations, and contribute to the development of their respective sectors.
The statement added that: “The ECOWAS Bank for Investment and Development remains dedicated to its mandate of promoting economic and social development in the ECOWAS region through strategic investments and partnerships. These agreements signify EBID’s ongoing efforts to provide financial solutions that spur private sector development and contribute to the sustainable growth of the region.”
ECOWAS Bank for Investment and Development (EBID) is a leading regional investment and development bank, owned by the 15 ECOWAS Member States, namely, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. Based in Lomé, Togolese Republic, the Bank is committed to financing developmental projects and programmes covering diverse initiatives from infrastructure and basic amenities, rural development and environment, industry, and social services sectors, through its private and public sector windows.
EBID intervenes through long, medium, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations, and related services.
EBID Signs USD30 Million Credit Line with Access Bank
National News
President Tinubu Storms Jos Today To Commiserate With Residents Of Angwa Rukuba Massacre
President Tinubu Storms Jos Today To Commiserate With Residents Of Angwa Rukuba Massacre
By: Bodunrin Kayode
President Bola Tinubu will today visit the Plateau state capital Jos to commiserate with residents who lost loved ones during the Palm Sunday shooting spree by criminals that took place at Angwa rukuba area of the city.
The President who was scheduled to visit Ogun state postponed his scheduled trip to Iperu, meant to flag off operations at the Gateway International Cargo Airport.
From the Plateau, the President is expected to travel to Lagos to observe Good Friday public holiday which ushers the beginning of the Easter public holiday which rounds up the lent period.
A state house release signed yesterday by the Presidential spokesman Bayo Onanuga noted that President Tinubu will travel to Ogun State for the commissioning of the Cargo Airport and the inauguration of two commercial aircrafts for the export and import of goods, aimed at boosting the state’s economic growth on Saturday April 4th.
“He will also inaugurate the new edifice of the Federal Operations Unit of the Nigerian Customs Service and its operational vehicles.
“He will return to Lagos to continue the Easter holiday, during which he is also expected to commission infrastructural projects undertaken by the administration of Governor Babajide Sanwo-Olu.
“These projects include: the iconic Ojota/Opebi Link Bridge; the Lagos State Geographic Information System Building; the Multi-Agency Complex named after the President, and a school Complex.
“Before returning to Abuja, President Tinubu will visit Bayelsa State on April 10 to commission some of Governor Duoye Diri’s completed projects.” Said the release.
Sadly several residents lost their lives during the black Palm Sunday shooting spree which is suspected to have been carried out by auto bike riding bandits following after their patterns in the hinterlands of the state.
These bandits who had tormented, killed and destroyed homes of residences of the Jos north axis of the state for several years after September 7th 2001
This damnation let loose on innocent residents is resurfacing after hundreds of killings had occurred in the Jos North council area of the state from September 7th 2001 till date.
And because of the myriad of challenges creeping into the federal security system sub regionals have geared up to manage their on police and Intel services which would assist greatly because they are masters of their territories.
The Federal government is fast tracking the process of state police to ensure that each sub nationals take charge of their environment to ensure that they support the center in the maintenance of internal security.
President Tinubu Storms Jos Today To Commiserate With Residents Of Angwa Rukuba Massacre
National News
NiMet predicts 107 to 138 days of rainfall in Gombe
NiMet predicts 107 to 138 days of rainfall in Gombe
The Nigerian Meteorological Agency (NiMet) has said that in 2026, the length of the rainy season in Gombe State is expected to be between 107 and 138 days.
This is contained in the Agency’s 2026 Seasonal Climate Prediction (SCP) document, which Gayus Musa, the meteorological manager for Gombe State, made available to Our Correspondent in Gombe on Tuesday.
The total amount of rainfall across Gombe State in 2026 is predicted to be between 701 mm in the northern part of the state (Nafada) and 1089 mm in the South (Shongom).
The onset of the rainfall is expected to commence in the state on May 29 (Shongom) and cease by October 22 (Yamaltu/Deba).
Similarly, in the prediction, four local government areas of the state, namely: Nafada, Yamaltu/Deba, Dukku and Funakaye were likely to be impacted by a severe dry spell (21 days and above) between June and August.
Musa while speaking to Our Correspondent on the first rainfall experienced in some communities in Akko, Gombe and Yamaltu/Deba Local Government Areas of the state on Monday urged farmers to resist the temptation of early planting of crops.
He described the first rain as false onset, explaining that the rainfall was false because it would not support any germination as seeds planted with such rain would not survive.
“This (first rain) is a false onset because the precipitation cannot carry any germination and so any seed planted would not survive.
“So farmers should not engage themselves in planting but to prepare their farmlands while getting their seeds and other inputs ready,” he said.
Musa advised farmers in the state, to make use of the prediction in carrying out farming activities towards avoiding losses in view of the impact of climate change on agriculture.
He further urged relevant authorities in the state to take proactive measures towards tackling environmental issues associated with the rainy season.
NiMet predicts 107 to 138 days of rainfall in Gombe
National News
Tuggar Resigns from Tinubu’s Cabinet, Sets for Bauchi Governorship
Tuggar Resigns from Tinubu’s Cabinet, Sets for Bauchi Governorship
By: Michael Mike
The rumoured interest of Minister of Foreign Affairs, Ambassador Yusuf Tuggar in becoming the governor of Bauchi State come 2027 may have been confirmed he resigned on Monday to prepared ground for actualization of his political ambition.
The resignation was ahead of the deadline set for political appointees seeking elective positions in the forthcoming general elections.
In a resignation letter submitted to the office of the Secretary to the Government of the Federation, Tuggar expressed profound gratitude to President Bola Ahmed Tinubu for the opportunity to serve the country and contribute to the implementation of the administration’s Four-D foreign policy strategy.
The former minister also appreciated the management and staff of the Ministry of Foreign Affairs and members of the diplomatic community for their cooperation and support throughout his tenure.
During his time in office, Tuggar was credited with advancing Nigeria’s foreign policy objectives through initiatives focused on people-centred diplomacy. These included humanitarian evacuations, facilitation of scholarships for Nigerians abroad, and sustained support for citizens in the diaspora.
His tenure also witnessed increased diaspora engagement, including efforts to develop a structured database of Nigerians living abroad aimed at strengthening their participation in national development.
In addition, Tuggar strengthened bilateral and multilateral relations through strategic engagements with traditional partners and regional alliances, particularly across the Global South. His leadership also promoted regional security cooperation and supported the formation of the Regional Partnership for Democracy initiative.
He also prioritised economic diplomacy, positioning Nigeria as an attractive destination for foreign investment, especially in the energy sector, while facilitating diplomatic interventions that secured the release of detained Nigerians in foreign countries and improved bilateral relations.
The resignation letter was received on behalf of the Secretary to the Government of the Federation by Dr. Abubakar Kana, Permanent Secretary, General Services Office, ahead of the March thirty-first deadline directed by President Tinubu in line with provisions of the Electoral Act.
Tuggar’s resignation was conveyed in a statement issued by his Special Assistant on Media and Communications Strategy, Alkasim Abdulkadir.
Tuggar Resigns from Tinubu’s Cabinet, Sets for Bauchi Governorship
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