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EBID’s Authorised Capital now USD3.5 billion

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EBID’s Authorised Capital now USD3.5 billion

By: Michael Mike

The Board of Governors of the ECOWAS Bank for Investment and Development (EBID) has unanimously increased the Bank’s authorised capital from USD 1.5 billion to USD 3.5 billion with effect from January 2023. The Governors also called for the third tranche of the capital of the Bank which is in the sum of USD 438 million.

The Board of Governors which comprises the Ministers for Finance and Ministers for Planning and Development of the fifteen ECOWAS Member States took this decision at its just ended 10th Extraordinary session held on 27th October 2022 in Praia, Republic of Cabo Verde.

The President and Chairman of the Board of Directors of EBID, Dr. George Agyekum Donkor, made this   disclosure immediately after the session. According to Dr. Donkor, the decision by the Governors was very strategic and timely especially as the Bank intensifies its resources mobilisation initiatives and seeks to position itself as the foremost regional development finance institution committed to playing a key and expansive role in assisting ECOWAS Member States to navigate the path to socio-economic recovery from the fallout of the COVID-19 pandemic and the Russian – Ukraine war.

Outlining the justifications for the Governors’ decision, Dr. Donkor emphasized the need for the Bank to improve leverage, capital adequacy, liquidity, and the overall risk-bearing capacity. He further underscored the need for the Bank to be abreast with industry trends and improve its rating. According to the President of EBID, calling the third tranche of the Bank’s capital will no doubt enhance the Bank’s capacity to grant concessionary resources to Member States in order to accelerate economic recovery.

Also Read: https://dailypost.ng/2022/10/29/journalists-in-yobe-boycott-government-activities-over-alleged-intimidation-harassment/

The Chairman of the Board of Governors, who is also the Vice-Prime Minister for Finance and Business Development and Minister for Digital Economy of the Republic of Cabo Verde, Dr. Olavo Avelino Garcia Correia, commended the President of the Bank and his team for the remarkable and exceptional performance within a short time which has led to impressive operational and financial performance of the Bank and the eventual upgrade of the Bank’s rating by both Moddy’s and Fitch rating agencies. He urged the Management of the Bank not to rest on its oars but strive to obtain investment grade in order to attract competitive resources for ECOWAS Member States.

ECOWAS Bank for Investment and Development (EBID) is a leading regional investment and development bank, owned by the fifteen (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 programs 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’s Authorised Capital now USD3.5 billion

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Nigeria Launches 2026 Humanitarian Needs and Response Plan, Signals Shift to Resilience and Poverty Reduction

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Nigeria Launches 2026 Humanitarian Needs and Response Plan, Signals Shift to Resilience and Poverty Reduction

By: Michael Mike

The Federal Government of Nigeria has launched the 2026 Nigeria Humanitarian Needs and Response Plan (HNRP), reaffirming its commitment to move beyond emergency relief toward prevention, resilience, and sustainable development.

Speaking at the launch held on Thursday at the UN House Auditorium in Abuja, the Honourable Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard M. Doro, said Nigeria is at a critical turning point in its humanitarian journey and must transition from repeated crisis response to long-term solutions that reduce vulnerability and poverty.

Dr. Doro commended the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) and humanitarian partners for their collaboration with the Federal Government in developing the 2026 plan and in responding to humanitarian crises across the country. He also acknowledged the leadership of the UN Humanitarian Coordinator in Nigeria, Mohamed M. Fall, and the efforts of donors, civil society organisations, and community-based actors.

According to the minister, humanitarian interventions over the years have played a crucial role in saving lives and alleviating suffering caused by conflict, displacement, climate shocks, and food insecurity, particularly in Borno, Adamawa, and Yobe states. However, he stressed that under the Renewed Hope Agenda of President Bola Ahmed Tinubu, humanitarian assistance must serve as a pathway to recovery and sustainable development rather than a permanent solution.

“The 2026 HNRP represents a strategic shift from repeated emergency response toward prevention, resilience, recovery, and durable solutions aligned with national development priorities,” Dr. Doro said.

He emphasized that the Federal Government would continue to provide leadership in humanitarian coordination, ensuring that interventions align with national policies, strengthen government systems at all levels, and contribute directly to poverty reduction and inclusive growth.

The minister highlighted prevention and preparedness as key priorities, noting that Nigeria can no longer afford to respond only after predictable crises occur. He called for stronger early warning systems, anticipatory action, and risk-informed planning as more humane and cost-effective approaches.

Localization was also identified as a central pillar of the government’s humanitarian strategy. Dr. Doro said Nigerian institutions, civil society groups, women-led and youth-led organisations, and community structures must play a leading role in response and recovery efforts. He added that increasing direct support to local actors and ensuring accountability to affected populations would help build a nationally owned and resilient humanitarian system.

On displacement, the minister stressed the need for durable solutions, stating that humanitarian assistance should not replace governance or development. Instead, efforts must focus on restoring livelihoods, expanding access to basic services, strengthening social protection, and addressing the root causes of vulnerability, including poverty and exclusion.

Dr. Doro reaffirmed Nigeria’s commitment to the Humanitarian–Development–Peace Nexus, describing it as essential for ensuring that humanitarian investments lead to lasting improvements in people’s lives and contribute to peace and social cohesion.

As Nigeria enters a phased humanitarian transition, the government called on international partners to continue working within nationally led frameworks aligned with national priorities. The minister expressed appreciation for the support of the international community while underscoring Nigeria’s determination to lead its humanitarian and poverty reduction agenda.

He concluded by urging stakeholders to see the launch of the 2026 HNRP as a clear move from dependency to resilience, from response to prevention, and from humanitarian management to sustainable human development.

The 2026 Nigeria Humanitarian Needs and Response Plan outlines priority actions aimed at protecting lives, restoring dignity, and building resilient communities across the country.

Nigeria Launches 2026 Humanitarian Needs and Response Plan, Signals Shift to Resilience and Poverty Reduction

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FG Moves to Strengthen National Policy on Drought and Desertification

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FG Moves to Strengthen National Policy on Drought and Desertification

By: Michael Mike

The Federal Government has reiterated its commitment to tackling drought, desertification, and land degradation through an updated and more responsive national policy framework.

The Minister of Environment, Malam Balarabe Lawal, stated this on Tuesday in Abuja while delivering a keynote address at a two-day validation workshop on the review of the National Drought and Desertification Policy.

The workshop, brought together stakeholders from federal and state governments, development partners, civil society organisations, research institutions, and local communities.

Lawal described drought and desertification as serious environmental threats with far-reaching consequences for agriculture, water security, livelihoods, and national stability, particularly in Nigeria’s arid and semi-arid regions.

He noted that farmers and pastoralists are among the worst affected, as prolonged dry spells lead to crop failure, livestock loss, and increased poverty, while advancing desert conditions continue to reduce land productivity and strain natural resources.

The minister explained that the reviewed policy became necessary due to growing climate risks, population pressure, and changing land-use patterns.

He said the revision process began in July 2025 with an inception meeting involving representatives from all 36 states and the Federal Capital Territory.

According to him, the validation workshop is meant to ensure that the revised document is practical, inclusive, and implementable, with clear strategies, financing mechanisms, and monitoring systems.

Lawal assured participants that the final policy would not be shelved after approval, stressing that government would lead its implementation while working closely with the private sector, civil society, academia, and local communities.

He called on stakeholders to actively contribute during technical sessions, share experiences, and propose workable solutions that reflect the realities of different ecological zones across the country.

The minister also appreciated development partners for their continued support in strengthening Nigeria’s environmental and climate response initiatives.

Declaring the workshop open, Lawal expressed optimism that the revised policy would significantly improve national efforts to combat desertification, restore degraded lands, and build resilience against drought.

On his part, the Permanent Secretary of the Ministry of Environment, Mahmud Kambari, noted that Nigeria is increasingly vulnerable to drought, desertification, and land degradation, with serious implications for food security, livelihoods, biodiversity, and national development.

He said climate change and unsustainable land and water use practices have further deepened the country’s exposure to environmental risks.

Kambari explained that the existing policy framework, though useful in the past, no longer adequately addresses emerging climate realities and evolving national and international commitments. He said this necessitated a comprehensive review aimed at strengthening early warning systems, improving preparedness, and building resilience against environmental shocks.

He added that the revised policy must align with Nigeria’s obligations under the United Nations Convention to Combat Desertification (UNCCD), including its Land Degradation Neutrality targets. According to him, the ministry, through its Department of Desertification, Land Degradation and Drought Management, would ensure effective coordination and implementation of the new policy.

The Director Department of Desertification and Drought in the Ministry of Environment, Regina Nwaneri explained that the validation workshop is focuses on validating an updated Desertification, Land Degradation and Drought Management Policy, stressing that the existing policy dates back to 2007 and no longer reflects current realities.

FG Moves to Strengthen National Policy on Drought and Desertification

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2027: Vice President Kashim Shettima Standing Tall Amidst Misguided Oppositions

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2027: Vice President Kashim Shettima Standing Tall Amidst Misguided Oppositions

By: Hon. Yusuf Adamu

In a country often marred by speculation and divisive rhetoric, the insinuations from opposition factions regarding the potential replacement of Shettima by “mischief-makers” are not only misguided but also reflective of a fundamental misunderstanding of the dynamics at play within Nigerian politics.

It is imperative to acknowledge the significance of partnerships in political leadership. Vice President Kashim Shettima has uniquely positioned himself as a pivotal figure in this administration, not merely as a subordinate but as a strategic ally to President Tinubu. Their relationship is rooted in mutual respect and shared goals, transcending partisan interests and religious affiliations.

Contrary to the narratives spun by opposition voices, there has been no indication from President Tinubu regarding any intention to replace his vice president. This sentiment is echoed by the general populace who recognize the necessity of stability and continuity during these critical times.

The intricacies of Tinubu and Shettima’s alliance are further underscored by their respective backgrounds and experiences. Both leaders have weathered the storms of political challenges and have showcased resilience that resonates with the Nigerian electorate.

It is essential not to reduce their achievements or the worth of their partnership to mere religious identities—Muslim – Muslim. Such simplifications undermine the rich tapestry of relationships that they have cultivated across different demographics throughout their political careers.

One cannot overlook the years of camaraderie, exemplified by Kashim Shettima’s longstanding friendships, particularly with notable figures such as Dr. James Bwala, who has written hundreds of articles in publications online either promoting or defending the vice president. This enduring relationship is illustrative of Shettima’s capacity to foster cross-cultural connections and to engage meaningfully with individuals from various backgrounds.

His engagement with Christians and their communities has been robust, demonstrating that his political strategy is inclusive rather than exclusionary. Shettima’s authentic relationships illustrate his commitment to unity and collaboration, affirming that the political landscape can be navigated without falling prey to division based on religious lines.

Also Shettima’s heritage plays a crucial role in this narrative. Hailing from the El-Kanemi lineage, he draws upon a rich historical legacy that reinforces his credibility. His familial and political roots in northern Nigeria provide a strategic advantage for Tinubu’s administration, enabling effective outreach and engagement in a region that holds considerable sway in national politics.

This familiarity, combined with Shettima’s adept handling of political maneuverings, ensures that the partnership remains compelling, maintaining its relevance well into the future.

The skepticism from opposition parties about the viability of this partnership is not new. Historically, political alliances in Nigeria have been fraught with uncertainty and betrayal. However, an examination of this particular partnership reveals a contrasting story marked by tenacity and strategic foresight.

As opposition narratives swirl, Tinubu and Shettima are focused on governance, leveraging their strengths to address the multifaceted challenges facing the nation. Shettima’s international representation on behalf of the President speaks volumes of the trust and confidence placed in him, a testament to his effectiveness as a vice president and a political partner.

As we reflect on the broader implications of this partnership, it becomes evident that the political landscape is evolving. The criticisms hurled by mischief-makers serve not to deter but to galvanize support for Tinubu’s administration. In fact, the apparent disconnect between the actions of the opposition and the realities on the ground may very well be hindering their ability to connect with the electorate.

People are increasingly discerning and capable of distinguishing between politically motivated rhetoric and genuine leadership. In light of this, it is critical to underscore the importance of vision and coherence in leadership. The synergy between Tinubu and Shettima can be characterized as emblematic of a larger movement aimed at fostering development, inclusivity, and progress within Nigeria.

Their collective vision, grounded in principles of governance that resonate across diverse groups, positions them as a formidable force against any opposition efforts that seek to undermine their mission.

Also, examining the socio-political context it reveals that the partnership extends beyond mere electoral calculations. It is about nurturing a cohesive Nigeria where all citizens can thrive irrespective of their religious beliefs. This notion should be taken into account when evaluating the efficacy of the administration.

As both leaders navigate complex political terrains, it is essential to recognize that their administration seeks to embody a spirit of unity, promoting peace and collaboration amongst varied sectors of the population. The partnership between President Bola Ahmed Tinubu and Vice President Kashim Shettima is not only enduring but also transformative.

Critics and naysayers may attempt to dismantle this alliance through speculation and unfounded allegations, yet the evidence supports a different narrative—one of resilience, unity, and a shared vision for Nigeria’s future. While the opposition may continue their machinations, the focus must remain on the substantive work that both leaders are undertaking in service to their country.

This partnership, built on strength, mutual respect, and a profound understanding of Nigeria’s socio-political landscape, is poised to remain intact and fruitful until at least 2031. Ours is a time for action, partnership, and unwavering commitment to the ideals that will propel Nigeria towards a brighter future.

Hon. Yusuf Adamu, writes from Maiduguri

2027: Vice President Kashim Shettima Standing Tall Amidst Misguided Oppositions

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