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Nigeria to Benefit from US$500 million Development Plan
Nigeria to Benefit from US$500 million Development Plan
By: Michael Mike
Nigeria is one of the country to benefit from a Memorandum of Understanding (MoU) signed for the co-financing of up to US$500 million of debt transactions to facilitate long-term sustainable development across developing economies and low-income countries in Africa, Asia, and the Caribbean.
The MoU was signed between British International Investment (BII), the UK’s Development Finance Institution (DFI) and impact investor with Amsterdam-based ILX Management (ILX), an SDG and Climate-Focused Emerging Market Private Debt Fund.
According to a statement jointly signed by Clare Murray of British International Investment and Simone Boes of ILX Management, BII and ILX will invest across a broad range of sectors including renewable energy, infrastructure, financial services, manufacturing and agribusiness to increase the flow of capital into impactful businesses and projects.
The statement added that this new partnership will enable both parties to leverage each other’s expertise and provide additional financial firepower across Africa, Asia and the Caribbean. ILX and BII will share information on prospective projects, emerging technologies, and financial innovation. They will also establish a roadmap to mobilise private sector capital, specifically focusing on providing institutional investors with greater access to high-impact private debt investment opportunities in scalable businesses driving productive, sustainable and inclusive growth.
CEO, BII, Nick O’Donohoe said: “This partnership has been driven by our shared view of the need to invest to meet the SDGs. It furthers our ambition to create new job opportunities in developing economies and will provide private credit to help bridge the finance gap faced by many businesses. This asset class remains nascent, comprising of just 3 per cent of private credit globally, and is the natural next step for allocators of global private credit.”
CEO, ILX Management B.V., Manfred Schepers, said “ILX has already received over US$1 billion in commitments from leading Dutch pension funds and is currently raising a successor fund for a targeted US$ 2 billion commitments from European pension funds. Working with BII, together we will increase financial capacity for project finance, financial services debt and private sector debt across Africa, Asia and the Caribbean. We have a strong track record of investing alongside the leading Multilateral Development Banks and other Development Finance Institutions in climate, and SDG-targeted projects across emerging economies globally and look forward to the opportunities this partnership will bring.”
UK Minister for Development and Africa, Andrew Mitchell, on his part said “This MoU with ILX is an example of British International Investment’s pioneering approach to mobilising the private finance needed to deliver the UN Sustainable Development Goals. I am proud that FCDO provided early-stage funding to ILX, which went on to secure over US$1 billion in commitments to its first investment fund.
This new partnership will mobilise up to US$500m of additional finance for low-income countries across Africa, Asia, and the Caribbean, improving access to renewable energy and quality infrastructure and helping businesses to thrive.”
Nigeria to Benefit from US$500 million Development Plan
Ambassador Mamman hails Buratai’s legacy, urges youth mentorship
By: Zagazola Makama
Ambassador Yusuf Mamman, former Nigerian envoy, has lauded the leadership and reforms of retired Lt.-Gen. Tukur Yusuf Buratai, former Chief of Army Staff, describing him as a “soldier’s soldier” whose tenure transformed the Nigerian Army’s doctrine, structure, and innovation.
Mamman, who chaired the public presentation of the book Life Principles for Greatness from the Life of Lt.-Gen. Tukur Yusuf Buratai, said he accepted the role without hesitation because the work offered lessons for Nigeria’s youth.
He recalled that Buratai rose from a cadet in the Nigerian Defence Academy to become Chief of Army Staff at a time the country faced the existential threat of Boko Haram insurgency.
“He came at a very challenging and difficult time in our national history, when Boko Haram posed the biggest existential threat to Nigeria’s sovereignty and territorial integrity since the civil war,” Mamman said.
According to him, Buratai spearheaded deep and profound changes that reshaped military doctrine, operations, and troop welfare, laying the foundation for the ongoing modernisation of the Nigerian Army.
“He never sought to take credit, but his works were very evident and clear. The master plan for the Army’s modernisation we are following today was driven by his vision,” he added.
Mamman also linked Buratai’s example to the need for youth empowerment, noting that Nigeria’s young people are making significant contributions in technology, media, and the creative industry.
“We must give them the enabling environment to harness their creativity for national greatness. Our future relies on the resilience, creativity, and scholarship of our youth,” he said.
The event, held in Abuja Intercontinental Hotel attracted dignitaries including Senior Military Officers, both serving and retired, Sen. Abdulaziz Yar’adua, Chairman Senate Committee on Army, and other prominent Nigerians.
Ambassador Mamman hails Buratai’s legacy, urges youth mentorship
Kachalla Alti kills rival bandit kingpin, Dankarami Usaini in Zamfara community
By: Zagazola Makama
A feared bandit kingpin, Kachalla Alti, has killed a fellow gang leader in Matsuki village, Tsafe Local Government Area of Zamfara State, in what residents described as a deadly supremacy battle.
Zagazola gathered from sources that the incident, which occurred at about 4:45 p.m. on Monday, has left the community tense and largely deserted.
Witnesses said the slain bandit, identified as Dankarami Usaini, 40, a Hausa native of Matsuki, had long operated from the Dangajeru forest, allegedly extorting residents and attacking those who resisted.
According to locals, Dankarami was in the village to collect levies on behalf of Kachalla Alti, the younger brother of notorious armed gang leader, Adamu Alero.
However, discontent had been brewing among residents over the “excessive harassment” by Dankarami. They reportedly reached out to Kachalla Alti to intervene. Kachalla Alti stormed the village with his men and shot Dankarami dead on the spot.
Following the killing, many residents fled to nearby villages, fearing retaliatory attacks from Dankarami’s loyalists.
Local sources said tension remains high, with sporadic gunfire heard in nearby forest routes.
Kachalla Alti kills rival bandit kingpin, Dankarami Usaini in Zamfara community
Police, hunters search for kidnapped septuagenarian in Gombe
By: Zagazola Makama
Police in Gombe State, in collaboration with local hunters, have launched a search for a 60-year-old man abducted by gunmen in Funakaye Local Government Area.
Sources said the incident occurred on Tuesday at about 12:30 a.m., when about seven armed men stormed the Ganti area of Abuku village via Ribadu Bajoga and kidnapped one Muhammadu Lawal to an unknown location.
Upon receiving the report from the village head of Bage, a joint team of police operatives and hunters mobilised to comb nearby communities in an effort to rescue the victim unhurt.
The sources said no arrests had been made as of the time of filing this report.
Police, hunters search for kidnapped septuagenarian in Gombe
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Ambassador Mamman hails Buratai’s legacy, urges youth mentorship
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