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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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Yobe civil service faces challenges of Boko Haram in 15 years—HoS

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Yobe civil service faces challenges of Boko Haram in 15 years—HoS

By: Yahaya Wakili

Yobe State civil service has faced unprecedented challenges for over fifteen years as a result of the Boko Haram insurgency.

This was disclosed by the Yobe State Head of Service, Alhaji Tonga Betara, during the opening of a 5-day workshop commenced by the Multi-sectoral Crisis Recovery Project for North-East Nigeria (MCRP).

The workshop, being held in Kano, brought together over 150 top-ranking civil servants, including directors of personnel management, heads of departments, and other key officials from various MDAs in the state, aimed at strengthening public service for post-crisis recovery.

Alhaji Betara highlighted the devastating impact of the over 15-year insurgency on the civil service and noted that it has affected the performance of civil servants and the experienced public servants are also retiring from service.

“In response to this situation, Governor Mai Mala Buni, CON, had earlier given approval for various capacity-building training for civil servants in the state.” Tonga said.

He commended the efforts of MCRP for collaborating with the office of the head of service in organizing several capacity-building workshops to complement government efforts on manpower needs of the state.

In his welcome address, Yobe State Project Coordinator MCRP, Alhaji Musa Idi Jidawa, expressed gratitude toGovernor Mai Mala Buni, CON, for his unwavering support and encouragement towards the implementation of the training workshops.

According to him, the civil service faced unprecedented challenges as a result of the Boko Haram insurgency; hence, the workshop is aimed at building capacity to design and implement effective strategies that will enable the civil service in the state to drive recovery efforts.

The workshop is designed to equip participants with necessary skills and knowledge, provide a platform for participants to share experiences, identify challenges, and develop effective strategies for post-crisis recovery in Yobe State.

Yobe civil service faces challenges of Boko Haram in 15 years—HoS

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Senator Kingibe: Bill Outlawing Infanticide would be Presenting on the Floor of the Senate

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Senator Kingibe: Bill Outlawing Infanticide would be Presenting on the Floor of the Senate

By: Michael Mike

The bill outlawing infanticide in the country would soon be sponsored on the floor of the Senate, Senator Ireti Kingibe, representing the Federal Capital Territory has promised.

The lawmaker made this promise at the weekend in Abuja during a visit to Vines Heritage Home (VHH), a home that host scores of children who were saved from infanticide from community within and around the Federal Capital Territory.

The children were declared not worthy of living for being born as twins and were to be killed before being rescued by the Home and taken care of.

Speaking after having interaction with children of the Home, including the proprietor, Olusola Stevens, Senator Kingibe said it was absurd for children to be blamed for the misfortune of their parents or be killed for coming as double blessings.

She said she will be presenting a bill to the Senate to end this scourge and called on the members of the public to come out and speak against infanticide and help the children of the Home.

Speaking earlier, the Country Director of ActionAid Nigeria, Mr. Andrew Mamedu who led Senator Kingibe to the Home, said the organisation was happy to welcome the Senator to the Home, where children rescued from harmful traditional practice of infanticide within the FCT currently reside.

Mamedu, who was represented by the Deputy Country Director of AAN, Hajia Suwaiba Dankabo, said: “Through the co-funding by European Union (EU) and AAN, a three-year project designed to raise awareness and mobilize action towards the abolition of infanticide in the FCT, these children were relocated here. The project established mechanisms to safeguard unborn babies and infants susceptible to being victims of infanticide, as well as those that are currently ostracized.”

He noted that: “A core component of our work involves amplifying the voices of children- particularly girls- to ensure their meaningful participation in decisions that affect their lives. With the support of the European Union, we have implemented child protection programme in 57 communities across five Area Councils of the FCT, focusing on the eradication of harmful traditional practices such as infanticide.”

He added that: “We are deeply grateful for the generous funding support provided by Sony Entertainment through ActionAid Sweden. As a globally recognized organisation, Sony Entertainment understands the crucial role of investing in education and securing a brighter future for children. This invaluable support will significantly impact the lives of some of the most vulnerable in our society, particularly the 74 girls from Vines Heritage Home (VHH) and the 219 children under our care.”
End

Senator Kingibe: Bill Outlawing Infanticide would be Presenting on the Floor of the Senate

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Katsina Police Foil Banditry Attack, Rescue Kidnapped Victims

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Katsina Police Foil Banditry Attack, Rescue Kidnapped Victims

By: Zagazola Makama

Police in Katsina State foiled a banditry attack on May 8, 2025, and successfully rescued two kidnapped victims in Matazu Local Government Area. The attack took place around 1400hrs when armed men, suspected to be bandits, targeted farmers working in the Ilali village area.

The bandits abducted two individuals, Sada Maraya, 45, and Basiru Magaji, 47, both residents of the village.

Upon receiving a distress call, the Divisional Police Officer (DPO) mobilized a team of patrol officers and swiftly responded to the scene. The police engaged the bandits in a gunfight, forcing them to flee into a nearby forest.

The victims were rescued unharmed, and efforts to apprehend the fleeing bandits are ongoing.

Katsina Police Foil Banditry Attack, Rescue Kidnapped Victims

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