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Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

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Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

By: Michael Mike

African investment banking franchise, Emerging Africa Group (EAG) said it will be raising a minimum of N250 billion capital to finance infrastructure development and Micro, Small and Medium Enterprises (MSMEs) in Northern Nigeria in the next two years.

The Executive Vice Chair of the Company, Mrs. Oluwatoyin Sanni disclosed this at the Opening of the new Abuja Office Complex of EAG which will oversee the operation of the investment bank in the entire Northern Nigeria.

Sanni said the North requires huge financing especially in infrastructure in order to speed up development in the region. 

She said: “There can’t be development or growth without adequate infrastructure, so what we aim to do is to help them raise funds (North) for infrastructure development.  As we speak, we have gone on four different exercises to raise funds for road development in Niger state.”

Also Read: CIVIL PARAMILITARY RELATIONSHIP: NSCDC GIVES FREE MEDICAL…

She added that: “So first of all, we offer Northern states opportunity to raise funds from the capital market, by private bonds and notes for all their different infrastructure needs. We are also involved in raising funds for some state-backed initiatives. We also provide Micro and SME finance for these small businesses that ordinarily struggle to raise capital and we have many of them both in the North and the rest of Nigeria and Africa.”

Sanni disclosed that Emerging Africa had set out a target to raise up to $1 billion over a five-year period for businesses in Nigeria and the rest of Africa when it started business, but said the company successfully met the target three and half years into the plan.

The Executive vice Chair said this encourage the Group to set a fresh target to raise $4 billion over the next five years for businesses in Africa. 

On how the Group raises capital, she explained, “When we target to raise this capital, what we do is that we match-make between the surplus segment of the economy and the deficit segment.  We look for partners, local banks, international banks, and development finance institutions, similar investment banks like us, institutional investors and wealthy families.  We crowd them all in, to invest in segments and sectors that we think can have a catalytic effect for the development of the economy.”

On the infrastructure funding for development of roads in Niger state,  Sanni said the Group did a final signing ceremony for a private bond that it raised, to the tune of N13.2 billion.   

She disclosed that the funding was raised for a private infrastructure funding company that would then deploy the money to the development of projects within the state.  

She said: “That way we bring private sector accountability, private sector transparency and unique funding structure. Niger state is a partner and a beneficiary to that funding.” 

The Executive Vice Chairman said the Group decided to open a more befitting office in Abuja to provide investment management, wealth management, trust services, capacity building, financial technology solutions to develop Abuja and the entire North.

She said: “We are bringing funding access, investment management capability, recent technical skills; we are bringing transparency and quality investment management services to Abuja and to the entire North.”

Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

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EU, NHRC Collaborate to Safeguard Human Rights in Nigeria

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EU, NHRC Collaborate to Safeguard Human Rights in Nigeria

Inaugurate Human Rights Defenders Forum

By: Michael Mike

The European Union (EU) and the National Human Rights Commission (NHRC) has collaborated in the fight against violation of human rights in Nigeria, joining forces to inaugurate the Human Rights Defenders Forum aimed at combating the numerous challenges of safeguarding human rights in the country.

Speaking at the Civil Society Consultation on the State of Human Rights in Nigeria and the Inauguration of the Human Rights Defenders Forum, which had in attendance Portugal Ambassador, Paulo Santos and Belgium Ambassador, Pieter Leenknegt, the Executive Secretary, NHRC, Tony Ojukwu lamented that in recent years, “we have witnessed alarming trends, including restrictions on the rights of individuals and organisations to operate freely, and threats against those who dare to speak truth to power.”

He insisted that: “These developments serve as a stark reminder that the protection of human rights is an ongoing struggle that requires continuous vigilance, action, and cooperation from all sectors of society.”

Ojukwu noted that: “Today marks a significant milestone in our collective efforts to advance human rights and protect the defenders who tirelessly work to uphold these rights, even in the face of adversity.

“We are gathered here not only to discuss the current state of human rights in our country but also to chart a way forward—one that ensures greater protection for civil liberties, fosters democratic consolidation, and safeguards the fundamental rights of all Nigerians, especially those who stand up for the rights of others.”

He said: “As we know, the human rights landscape in Nigeria is a complex and evolving one. While we have made strides, challenges remain, especially regarding the protection of civic space and the safety of human rights defenders.”

Ojukwu said: “Three major events preceded today’s events which are worth mentioning. First was the End bad governance protests in August. The second is the arraignment of minors recently witnessed in Abuja. Third was the presentation of the report of the Special Independent Investigative Panel on Human Rights Violations in Counter-Insurgency Operations in the North East.

“These three events underscore the state of human rights in Nigeria and present for us discussion points on our institutions and mechanisms. Their outcomes also present us with hope and opportunities to base our present and future actions that will ensure that human rights of vulnerable Nigerians are protected. I thank all those whose actions have been responsible for the outcomes of these historic events.”

He said: “We are deeply grateful to the European Union Delegation to Nigeria for partnering with the National Human Rights Commission in organizing this forum.

The EU’s unwavering commitment to promoting human rights and supporting civil society efforts across the globe is commendable, and we are honoured to work with them in Nigeria.

“The discussions we will have today are centered on three crucial themes that are at the heart of any democracy: the right to electoral participation and democratic consolidation, the protection of civil liberties, civic space and human rights defenders, and the pressing issue of digital rights and privacy protection. These issues are not merely theoretical—they are practical challenges that impact our daily lives and the future of Nigeria as a democratic state.”

He added that: “The inauguration of the Human Rights Defenders Forum today underscores the importance of creating a unified platform for those who work at the frontlines of human rights protection. The forum will serve as a space for defenders to share experiences, exchange ideas, and strategize on how to address the myriad challenges they face. It is crucial that we stand together to provide human rights defenders with the necessary support and ensure their safety at the frontlines.”

Also speaking at the occasion, the Deputy Head of Delegation, European Union Delegation to Nigeria and ECOWAS, Zissimos Vergos said human rights is “a topic that is not only essential but always incredibly timely and central to the European Union’s foreign policy, constituting our institutional core and soul: our unwavering support for a continuous active, open and transparent dialogue on the state of democracy and human rights around the world including our host country, Nigeria, this great country and its great people that you represent here today.”

He noted that: “We live in an era underlined by both remarkable advancements and unprecedented challenges; an era where we would have expected that global partnerships underlined by visionary and rationale conversations for a better and more inclusive world would have been the norm; instead we all see that the basic ingredients for such a successful recipe of hope and global solidarity are still missing; for us in the European Union, we firmly believe that democracy, inclusive societies and human rights are indispensable ingredients for such recipe to work; many solutions to the problems surrounding us originate from the inability to on-board the citizens of the world in a process of social, financial and political inclusion; simply to allow them to feel that they belong and that they can trust a shared societal project; we see it and feel it everywhere around us.”

He added that “global conflicts and geopolitical shifts have highlighted the importance of international cooperation and the protection of human rights.

“The collective consciousness on the urgent need to defend democracy and human rights is reflected upon the ever growing global citizens’ movements and advocacy for equality, justice, and inclusion; an urgent and pressing demand for societal change is present with youth in the forefront; it is important that we all listen and take stock.

“The world is in an urgent need for peace, healing and reconciliation. Human rights, with their universal and inalienable qualities, offer a solid framework for conversation. Narratives of authoritarianism, populism, extremism, conflict entrepreneurship, compounded by poverty, inequality and increasingly the adverse impact of climate change on livelihoods risk to derail essential conversations on urgently needed global corrections and critical decisions regarding investment in a common future.Efforts to safeguard human dignity, freedom, and equality remain crucial.”

The notion of global leadership in the mind of the citizens anywhere in the world, is strongly correlated with footprints of social, financial and political inclusion; the degree of success of such citizens’s value chain’ depends on the fundamentals of inclusive democratic governance and human rights; there are no shortcuts and where they are tried they just disrupt and generate conflict and division.”

He noted that: “Nigeria, as the largest democracy in Africa, plays a pivotal role in the continent’s political landscape. The other African countries, but also the world rightly so, are looking up to Nigeria and its multi-ethnic and multi-religious democratic trajectory and paradigms.

“The European Union, recognises the importance of partnering with Nigeria in itinerary to democratic governance and human rights.”

EU, NHRC Collaborate to Safeguard Human Rights in Nigeria

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UNICEF: Over 9 million youth empowered through innovative partnerships in Nigeria

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UNICEF: Over 9 million youth empowered through innovative partnerships in Nigeria

By Our Reporter

The UNICEF Generation Unlimited Nigeria (GenU 9JA) Public-Private-Youth-Partnership Platform today convened its annual Steering Committee at the Airtel Headquarters in Lagos to celebrate three years of groundbreaking achievements and set ambitious targets for the future. This meeting reaffirmed GenU 9JA’s commitment to transforming the lives of millions of Nigerian youths by connecting them to opportunities for skills development, digital learning, and livelihood pathways. The meeting was attended by GenU 9JA partners from the government, private sector, civil society, UN organizations, and young people from across Nigeria.

Since its inception, UNICEF GenU 9JA has empowered over 9 million young Nigerians, surpassing the three-year target of 7.5 million. This milestone positions the initiative well on its journey to achieving its 2030 goal of connecting 20 million young people with opportunities for growth and impact. The committee reviewed progress across its three core pillars: connectivity and digital learning, workplace readiness, and youth engagement. Key partners presented updates on their respective contributions, underscoring how collaboration has driven success.

Speaking at the event, Carl Cruz, CEO of Airtel Nigeria, emphasized the transformative potential of digital access, citing the ongoing UNICEF-Airtel Reimagine Education Program, a part of the GenU 9JA initiative. “Airtel is proud to play a role in ensuring no young Nigerian is left behind in this digital age. We are encouraged by the success recorded so far among the 1,260 schools connected through our partnership,” he said.

Somachi Chris-Asoluka, CEO of the Tony Elumelu Foundation (TEF), highlighted the impact of youth entrepreneurship: “Young people are the engines of Africa’s economic transformation. Since 2015, the TEF Entrepreneurship Programme has empowered over 20,000 young entrepreneurs, creating more than 400,000 jobs. Our BeGreen Africa initiative will now support over 400 young entrepreneurs in Nigeria, Kenya, Morocco, Senegal, and South Africa with green-focused training, mentorship, and seed capital to advance sustainable ventures.”

Cristian Munduate, UNICEF Nigeria Representative, reiterated the urgency for continued investment in youth: “The future of any nation lies in the hands of its children and youth. By providing skills, opportunities, and a platform for engagement, we are not only changing individual lives but also shaping a brighter future for Nigeria.”

UNICEF: Over 9 million youth empowered through innovative partnerships in Nigeria

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Borno: Primary School Teachers Jubilate as N70k Minimum Wage Hit Accounts

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Borno: Primary School Teachers Jubilate as N70k Minimum Wage Hit Accounts

… Zulum pays the best wage in Northeast so far -NLC

By: Michael Mike

Thousands of primary school teachers in Borno State were thrown into excitement on Friday when Borno State Governor, Babagana Zulum, approved the implementation of N70,000 minimum wage.

This was one week after the N70k minimum wage was paid to civil servants working for Borno State Government for their October salaries.

The new salary hit the accounts of primary school teachers on Thursday as many posted screenshots of their alerts on different social media platforms.

Zulum announced the approval of the pay rise for workers in the state on October 10 in a meeting with the minimum wage implementation committee members. During this meeting, he also approved N3 billion for the payment of entitlements to families of civil servants that died in Borno State.

Meanwhile, the Nigerian Labour Congress, Borno State Chapter, has described the minimum wage paid by Borno State government as the best so far in the northeast region.

The Chairman of NLC, Comr Inuwa Yusuf, made the commendation last week in Maiduguri.

“Let me also join in commending the Executive Governor of Borno State, Professor Babagana Umara Zulum, for serving our people, especially the workers,” Comr Yusuf reiterated.

He added, “After a series of meetings, we harmonised the wage table which was applied in the last couple of days. Our members (civil servants ) have called in and expressed their gratitude. We felt it was a very nice one, and we believe other states in the northeast can not be better than us; we have seen what a few other States have paid, and we don’t know of other states that will pay later as now, our state is leading. We have to commend His Excellency for this giant stride.”

Borno: Primary School Teachers Jubilate as N70k Minimum Wage Hit Accounts

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