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
Electoral officer rescued as one killed, others injured in Kontagora election violence
														Electoral officer rescued as one killed, others injured in Kontagora election violence
By: Zagazola Makama
One person was killed while several others, including security personnel, sustained injuries during a violent attack by thugs at a polling unit in Kontagora Local Government Area of Niger State on Saturday.
Zagazola Makama report that the incident occurred at Central Ward, Bashari Polling Unit, during the local government council elections.
According to the sources , the Electoral Officer (EO) for Kontagora LGA, Mr. Umar Abdulkadir, was held hostage and threatened by thugs before being rescued by a patrol team that responded to a distress call.
The rescue operation, however, turned violent as the thugs engaged in a serious fracas, resulting in the death of one Abdullahi Bala, 60, who was stabbed during the attack, while one Shehu Habibu sustained injuries to his right hand.
The security operatives attached to the electoral office were also attacked and injured, and one patrol vehicle was vandalised during the incident.
The deceased and the injured victims were taken to the General Hospital, Kontagora, for autopsy and medical treatment.
The command said investigation is ongoing to identify and arrest all the perpetrators involved in the election-day violence.
Electoral officer rescued as one killed, others injured in Kontagora election violence
National News
KACRAN Asks NEDC to Prioritise Livestock Development In 2026 Policies And Programmes
														KACRAN Asks NEDC to Prioritise Livestock Development In 2026 Policies And Programmes
By: Michael Mike
The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN), a critical stakeholder in the North East region, has called on the North East Development Commission (NEDC) to significantly incorporate Livestock Development into its 2026 policies and programmes.
The group in a signed statement by its National President, Hon. Khalil Mohammed Bello, while appreciating NEDC’s efforts, acknowledged the tireless efforts and significant achievements of the Commission since its inception in rebuilding and rehabilitating the North East.
It also commended the Commission for its successes in infrastructure, renovation and construction of schools, houses, hospitals, health centres, roads, reconstruction of bridges destroyed by insurgency and provision of accommodation to displaced persons.
KACRAN also commended NEDC for the training of thousands of forest guards and the distribution of utility vehicles to security operatives to help combat insecurity; the
prompt provision of support and assistance to victims of various incidents, including the vital role played during the major floods in Maiduguri last year and for the consistent
distribution of relief materials and palliatives to internally displaced persons (IDPs).
The group said: “We believe the NEDC has performed commendably and is a true partner in progress for the region’s State Governments.”
They however said: “Despite these successes, KACRAN draws the attention of the NEDC to the profound and disproportionate impact of insecurity and insurgency on the region’s pastoralist communities.”
They noted that pastoralists operate primarily in the bushes, the epicentre of the conflict, making them and their livestock the most vulnerable. They claimed that countless pastoralists have been killed, and hundreds of thousands of livestock—their sole means of livelihood—have been stolen or rustled.
They decried that: “A critical shocking assessment reveals that North East pastoralists have been at the receiving end of the Commission’s programmes. We have received minimal direct benefits from the annual billions allocated for the region’s development projects, as these projects mainly focus on urban infrastructure (houses, roads, bridges) that do not and would never address our unique desired needs.”
They further stated that: “On behalf of millions of North East pastoralists, KACRAN passionately appeals to the NEDC leadership to address this imbalance with immediate and long-term actions:
“Livestock Distribution: Just as the NEDC builds and distributes houses, we urgently request the Commission to procure and distribute thousands of livestock to our members whose herds were stolen or destroyed by insurgents.
“Essential Support: We call for the provision of animal feed, water points, relief materials, and palliative support for our internally displaced members who have been completely ruined by the insurgency.
“Policy Integration: We urge the NEDC to make a serious and dedicated commitment to Livestock Development in its 2026 Policies and Programmes. This is the only way to ensure fairness and compensate for the structural neglect our communities have faced since the Commission’s creation.”
They stated that: “KACRAN believes that by engaging in robust livestock development, the NEDC can truly align with the spirit of fairness and inclusive development, thereby helping the North East pastoralist communities rebuild their livelihoods and contribute fully to the region’s economic recovery.”
KACRAN Asks NEDC to Prioritise Livestock Development In 2026 Policies And Programmes
National News
Backbone Infrastructure Ltd Secures $50B Funding for Ondo 500,000bpd Refinery, Free Zone Development
														Backbone Infrastructure Ltd Secures $50B Funding for Ondo 500,000bpd Refinery, Free Zone Development
By: Michael Mike
Following the successful execution of the Memorandum of Understanding (MoU) between Backbone Infrastructure Ltd and the Ondo State Government, through the Ondo State Investment Promotion Agency (ONDIPA), for the construction of a 500,000 barrels-per-day refinery and the development of a 1,471-hectare Sunshine Free Trade Zone in the Ilaje area of Ondo State in July, Backbone has secured project funding exceeding $50 billion for both projects through a joint venture agreement with its partner, NEFEX Holdings Limited of Canada.
The team, which arrived in Nigeria last Sunday, is set to visit Ondo State to interact with the State Government Officials and pay a courtesy call on the Executive Governor, HE Lucky Aiyedatiwa.
The BINL team will be led by the Chairman, HE Senator Ken Nnamani, including other Board members and the Executive management team led by Henry Owonka.
The meeting will explore the roadmap towards commencement of the projects, including presentations with ONDIPA and visits to the project sites and engagement with the host communities led by the Olugbo of Ugbo Kingdom, Oba Obateru Akinrutan.
Speaking on the refinery financiers, BINL’s Vice-President for Corporate Services, Mr Wale Adekola, disclosed that NEFEX Petroline is involved in engineering and construction services for ports, terminals and logistics facilities, including pipelines and facilities in the Oil and Gas Industry.
Their specialty also includes port and infrastructure development, petrochemical trading and supply, investment and project management.
Adekola stated, ‘’With operations across the Middle East, Europe, North America, and beyond, NEFEX Petroline combines the advantages of a global network with deep local understanding. The firm maintains partnerships with leading global financial institutions to secure multi-currency credit lines and liquidity support for large-scale operations.’’
‘’Our partnership with NEFEX opens the next chapter for the commencement of BINL Refinery development, ‘’ the BINL executive added.
BINL, which operates from offices in Abuja, London and Zug, Switzerland, is also exploring a strategic partnership with the Nigerian National Petroleum Company Limited (NNPC Ltd) to drive the development of the ultra-modern refinery complex.
BINL initiative would provide a critical lifeline, easing pressure on foreign exchange reserves and enhancing national energy security.
It said its corporate social responsibility strategy would prioritise education, local employment quotas and infrastructure development in surrounding communities.
The BINL refinery will provide petroleum products for local consumption, feedstock for other local industries and petroleum products for the international market.
The refinery project includes the construction of roads, storage tanks, loading bays, terminals and handling equipment. The scope of the Free Trade Zone Project includes the development of the required infrastructure and facilities for the effective operation and management of the Free Trade Zone.
The projected $50billion investments in the refinery and FTZ are expected to change the landscape of infrastructure in Ondo state while transforming the social and economic status of the people.
Adekola applauded Governor Aiyedatiwa for his commitment and robust support for the projects which have attracted a groundswell of approval from the people of the state across the globe.
‘’We commend the governor for opening the state to genuine investors and creating the right environment to partner with investors, local and international.’’
Backbone Infrastructure Ltd Secures $50B Funding for Ondo 500,000bpd Refinery, Free Zone Development
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