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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
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2027: I’ll make Adamawa better with my 10-point agenda- Dr Girei
2027: I’ll make Adamawa better with my 10-point agenda- Dr Girei
Dr Salihu Girei, a former Director of Research, Development and Centre of Excellence, Tertiary Education Trust Fund (TETfund), has formally declared interest to contest the Governorship seat in Adamawa under the platform of the All Progressives Congress (APC).
Girei made his intention to govern the state known at a press conference in Yola while unveiling a 10-point agenda for the development of the state.
He said if given the mandate he would impact positively in the state especially at the grassroots.
He listed some of the agenda to include: free and quality education at the primary and secondary levels, healthcare service delivery, agriculture, women and youth empowerment, employment opportunities rural development among others.
Girei promised to provide a special salary package for teachers and 100 per cent review of pension for retirees.
He explained that he is presenting himself to the electorate to vote for in order to provide good governance, saying, he has a lot to offer towards improving the wellbeing of citizens of Adamawa State.
According to him, he contributed enormously to the development of the state and country at large for 33 years as a public administrator, and as a policy maker.
“I was Executive Chairman of Adamawa State Universal Basic Education Board, where I was privileged to transform the education landscape, especially at the basic education level.
“I built at least 5,500 classrooms record. Were able to recruit at least 17,000 teachers in four years.
“We promoted teachers that were lagging behind in promotion. We trained and retrained teachers. We did a lot in terms of supervision of teachers and schools”, he said.
He said, based on those factors, he knows Adamawa well and its challenges and has the capacity to deliver for the citizens.
“There is no ward in Adamawa that I have not been to. I’ve visited all in my capacity as Chairman of SUBEB and Commissioner for LG Affairs”, he said.
Dr Girei earlier visited the APC Secretariat to formally declare his intentions to the party Executives and congratulated them for their emergence as the new EXCO.
In his remarks, Alhaji Hamza Madagali appreciated the visit and assured the party’s readiness to conduct free, fair and credible primary elections across all political offices.
2027: I’ll make Adamawa better with my 10-point agenda- Dr Girei
News
Troops Ambush Terrorist Logistics Suppliers, Recover Items in Borno
Troops Ambush Terrorist Logistics Suppliers, Recover Items in Borno
By: Zagazola Makama
Troops of Operation HADIN KAI have foiled an attempt by suspected terrorist logistics suppliers along the Ngoshe–Ashigashiya road in Gwoza Local Government Area of Borno State.
Security sources said the troops of 82 Division Task Force Battalion, deployed at Ngoshe, laid an ambush at a known crossing point along the route at about 2:20 a.m. on April 24.
The sources said the troops made contact with suspected Boko Haram/ISWAP logistics suppliers conveying items to terrorist elements and engaged them with disciplined fire.
The suspects were forced to abandon the items and fled in disarray.
Items recovered during exploitation of the area include 10 pairs of women’s slippers, 28 sachets of 500g salt, 39 sachets of powdered milk, a motorcycle tube, a pair of joggers, two pieces of clothing materials measuring 10 yards each, two one-litre containers of engine oil and a black shirt.
The sources said no casualty was recorded on the side of the troops, while casualties on the part of the fleeing suspects could not be immediately ascertained.
They added that the troops returned to base at about 6:00 a.m. after completing the operation.
According to the sources, the general security situation across the theatre remains calm but unpredictable, while troops’ morale and combat efficiency remain high.
Troops Ambush Terrorist Logistics Suppliers, Recover Items in Borno
News
Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents
Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents
By: Zagazola Makama
Troops of Operation HADIN KAI have repelled a Boko Haram/ISWAP terrorist infiltration into Kanama town, neutralising four insurgents during a swift response operation in Borno State.
Security sources said the incident occurred at about 6:00 p.m. on April 22 when troops of 159 Battalion, deployed in Kanama, responded to sounds of gunfire within the town.
On arrival, the troops reportedly discovered that terrorists had infiltrated parts of the community.
The troops immediately made contact and engaged the attackers with disciplined fire, forcing them to retreat in disarray.
Subsequent exploitation of the general area led to the neutralisation of four terrorists.
One member of the Civilian Joint Task Force (CJTF) sustained injuries during the encounter and has been evacuated for medical attention.
No military equipment was lost during the operation.
Items recovered from the terrorists include two torchlight mobile phones and the sum of ₦21,000.
Security sources said the general situation across the theatre remains calm but unpredictable, while troops’ morale and fighting efficiency remain high.
Troops Repel Terrorist Infiltration in Kanama, Neutralise Four Insurgents
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