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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.”

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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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Troops Intercept ISWAP Logistics Supplies Along Banki–Kumshe Route in Borno

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Troops Intercept ISWAP Logistics Supplies Along Banki–Kumshe Route in Borno

By: Zagazola Makama

Troops of Operation Hadin Kai (OPHK) have intercepted suspected logistics supplies meant for ISWAP/JAS terrorists along the Banki–Kumshe route in Borno State.

Military sources disclosed that the interception occurred at about 1:30 a.m. on May 8, 2026, when troops of 152 Task Force Battalion on ambush duty engaged suspected terrorists crossing from the Cameroon border axis into Nigeria.

The troops reportedly laid ambush positions along the Banki–Kumshe road before sighting and engaging the insurgents transporting supplies.

According to the sources, the terrorists were forced to withdraw in confusion following the encounter, while troops carried out limited exploitation of the area.

Items recovered during the operation included eight bicycles, six 25-litre jerrycans containing Premium Motor Spirit (PMS), 32 surgical drips, 19 packs of drugs, one can of vitamins, 200 motorcycle repair parts, 12 phone batteries, a phone charger, 25 bags of grains, 11 packs of sewing thread, kola nuts, 93 rolls of detergents, food items and other sundry materials.

Security sources also disclosed that a Cameroon phone number written on a piece of carton was recovered among the seized items.

Troops later changed ambush positions and continued surveillance operations within the area to deny terrorists freedom of movement.

Military authorities said no casualty was recorded among troops during the operation, while exploitation and intelligence activities were ongoing to track fleeing insurgents and dismantle their supply network.

The interception forms part of ongoing counter-terrorism operations aimed at disrupting logistics routes and weakening the operational capabilities of insurgents operating within the North-East theatre.

Troops Intercept ISWAP Logistics Supplies Along Banki–Kumshe Route in Borno

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Governor Buni speaks on primary elections where consensus failed

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Governor Buni speaks on primary elections where consensus failed

By: Yahaya Wakili

Governor Mai Mala Buni of Yobe State has revealed that the All Progressives Congress (APC) is open to a fair, credible, and transparent primary election if there is no general agreement on the consensus mode.

Governor Buni started this while commenting on the crisis rocking the party over the governor candidate for the 2027 general election. He said the party has not foreclosed direct election to produce its candidates for the contestable offices for the 2027 general election.

According to him, the party is still working on dialogue; “we are talking to each other and reaching out to the stakeholders, including the aspirants, to arrive at an amicable solution.”

“As the governor of Yobe state, I will be the happiest person to see that the state and party are peaceful and united, noting that we remain citizens of Yobe state and members of APC.

“My expectation is to see us more united and collectively working for our candidates to win the 2027 general elections,” Governor Buni said.

Governor Buni further said, “As a founding member, former secretary, and national chairman of the All Progressives Congress (APC), the unity and progress of the party mean so much to me personally; therefore, I will continue to support and protect the ideals of the party to remain Nigeria’s ruling political party.”

He expressed optimism that the aspirations for public offices in the state are driven by the desire to serve the people for a better and improved life.

Governor Buni speaks on primary elections where consensus failed

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Nigeria Moves to Strengthen Climate Accountability with New Transparency Committee

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Nigeria Moves to Strengthen Climate Accountability with New Transparency Committee

By: Michael Mike

The Federal Government has inaugurated a Project Steering Committee (PSC) to drive the implementation of the Global Environment Facility-backed Capacity Building Initiative for Transparency (CBIT), in a move aimed at improving Nigeria’s climate data systems and environmental accountability.

The initiative, coordinated by the Federal Ministry of Environment, is designed to enhance the country’s ability to track, report and verify climate actions, particularly in line with its obligations under the Paris Agreement.

Speaking during the inauguration in Abuja, the Director of Forestry at the ministry, Halima Bawa-Bwari, described the committee as a strategic mechanism to strengthen coordination and oversight of the project. Represented by Deputy Director Aiwuyo Christopher, she noted that the PSC would provide policy direction, ensure institutional alignment and address implementation challenges.

According to her, the CBIT programme—established under the Global Environment Facility following decisions reached at COP21 in Paris—supports countries in meeting enhanced transparency requirements under the Paris Agreement.

For Nigeria, she said, the project is critical to improving the generation, management and reporting of greenhouse gas emissions data across major sectors of the economy.

She explained that the initiative would reinforce institutional frameworks for data management, build technical capacity among stakeholders and support the development of a digital platform to promote transparent and accessible climate data.

Bawa-Bwari stressed that the success of the project would significantly improve Nigeria’s ability to meet its international reporting obligations with greater accuracy, consistency and credibility.

She also underscored the importance of collaboration, noting that effective implementation would depend on strong cooperation across sectors such as Agriculture, Forestry and Other Land Use (AFOLU), Energy, Transport, Industrial Processes and Product Use (IPPU), and Waste.

“The role of the committee is central to ensuring that the project achieves its objectives and contributes meaningfully to Nigeria’s climate commitments,” she said, urging members to demonstrate commitment and provide strategic leadership.

Also speaking, the Director of Planning, Research and Statistics at the ministry and GEF Operational Focal Point for Nigeria, Babagana Bukar, said the committee would play a key role in guiding implementation, resolving bottlenecks and aligning the project with national priorities, including the Energy Transition Plan and Nigeria’s Nationally Determined Contributions (NDCs).

He emphasised that transparency remains fundamental to credible climate action, describing it as the backbone of effective environmental governance rather than a mere procedural requirement.

In his remarks, the representative of the Food and Agriculture Organisation (FAO) in Nigeria and ECOWAS, Hussein Gadain—represented by Adesoji Adeyemi—reaffirmed the organisation’s commitment to supporting countries in meeting transparency requirements through improved data systems and stronger partnerships.

He noted that the CBIT initiative is specifically designed to help countries enhance their capacity to monitor emissions and track climate actions across key sectors.

Similarly, the Director-General of the Nigeria Conservation Foundation (NCF), Joseph Onoja, highlighted the importance of collaboration in achieving sustainable outcomes. He said the partnership reflects a shared commitment among stakeholders to ensure effective implementation and measurable impact.

Onoja stressed the need for coordinated efforts to avoid duplication and promote synergy, noting that unified approaches would deliver more sustainable and impactful results.

Also contributing, a representative of the National Council on Climate Change (NCCC), Ann Umas, said the initiative is aimed at building a strong, data-driven foundation for climate governance, enabling informed decision-making and long-term sustainability.

The inauguration event was organised by the Department of Forestry of the Federal Ministry of Environment in collaboration with FAO and the Nigeria Conservation Foundation.

With the establishment of the steering committee, Nigeria is taking a significant step toward strengthening its climate transparency framework, improving data integrity and positioning itself for greater credibility in the global climate space.

Nigeria Moves to Strengthen Climate Accountability with New Transparency Committee

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