Connect with us

News

Nigeria to Benefit from US$500 million Development Plan

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

PRESIDENT TINUBU MOURNS VICTIMS OF TERRORIST ATTACK IN NGOSHE, GWOZA LGA IN BORNO STATE

Published

on

PRESIDENT TINUBU MOURNS VICTIMS OF TERRORIST ATTACK IN NGOSHE, GWOZA LGA IN BORNO STATE
 
By: Our Reporter

President Bola Tinubu has expressed heartfelt condolences to the families of those affected by the recent terrorist attack by Boko Haram on the Ngoshe community in Gwoza Local Government Area of Borno State.
 
The President mourns the loss of innocent lives, including military personnel, and those caught in friendly fire during the aerial interdiction of fleeing terrorists by the Air Force.
 
He describes the attack by the terrorists as a heartless assault on hapless citizens, urging Nigerians in Borno and elsewhere not to succumb to fear.
 
President Tinubu commends the military for their swift response, which led to the killing of scores of terrorists and their subsequent forced retreat.
 
He charges the military and other security agencies to work urgently to rescue those kidnapped by the terrorists.
 
Additionally, he directs the armed forces to intensify their efforts to protect civilians nationwide and prevent attacks on military installations in the North East.
 
President Tinubu prays for the souls of those who lost their lives in the attacks and friendly fire and extends his sympathies to their families and the Borno State Government.

PRESIDENT TINUBU MOURNS VICTIMS OF TERRORIST ATTACK IN NGOSHE, GWOZA LGA IN BORNO STATE

Continue Reading

News

Borno State Command Celebrates 2026 World International Civil Defence Day in Grand Style

Published

on

Borno State Command Celebrates 2026 World International Civil Defence Day in Grand Style

By: Bodunrin Kayode

The Borno State Command of the Nigeria Security and Civil Defence Corps (NSCDC) recently marked the 2026 World International Civil Defence Day with a weeklong series of activities, themed “Towards a safer society.”

A statement by the command’s spokesperson CSC Bulus James, stated that the celebration began with briefings and sensitization of staff on NSCDC’s critical roles in Crisis Management, Protection of Critical National Assets and Infrastructure, Peace and Conflict Resolution, Counter-terrorism, and VIP Protection.

On Thursday, 26th February 2026, officers and men, led by Acting Commandant DCC Obe Ndubuisi, embarked on a road match from the State Headquarters through the Kano Motor Park community and concluded at the headquarters, where the Acting Commandant delivered speeches on behalf of Commandant CC Ahmed Bello Gaya, including messages from the Commandant General and the State Commandant.

On the 27th February, 2026, Muslim faithfuls gathered at Al-Ansar Masjid for Jumaat prayers, with ACG CBRNE Hameed Abudurin from NHQ Abuja in attendance as Special Guest of Honour.

He was also present at the Passing Out Parade (POP) of a joint special training program held at the Nigerian Police Force Explosive Ordnance Disposal and Chemical, Biological, Radiological, Nuclear (EOD-CBRN) Training School, Maiduguri, in collaboration with UNMAS which offered him the opportunity to celebrate alongside the Muslim faithfuls.

Prayers were offered by the Chief Imam Borno State, and NSCDC. Worshippers expressed gratitude for NSCDC’s unwavering commitment to safeguarding lives, property, and critical national assets.

This was followed by the grand finale at the NSCDC Glorious Chapel which held a special Sunday service at the Command’s multipurpose hall, attended by guests from sister security agencies on 1st March, 2026

Goodwill messages were delivered, followed by a keynote address from Commandant CC Ahmed Bello Gaya, delivered by Acting Commandant Obe Ndubuisi.

.DCC Paul Ochola delivered an exhortation on “Selfless Service to Humanity: Towards a Safer Environment.” The service concluded with pleasantries and a group photograph.

Borno State Command Celebrates 2026 World International Civil Defence Day in Grand Style

Continue Reading

News

Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents

Published

on

Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has commiserated with the people of Ngoshe affected by the recent Boko Haram attack, describing the incident as tragic.

Ngoshe, a community in Gwoza local government, was attacked on Tuesday evening, scores were killed, while others were abducted.

Addressing members of the community on Friday in Pulka, Governor Zulum said he personally came to sympathize with the affected people and families of those that lost their loved ones.

He assured that efforts are underway to rescue all those abducted, restore security, and provide humanitarian support to victims.

“We are here today to commiserate with the people of Ngoshe that have lost their loved ones following the unfortunate incident that occurred on Tuesday. The situation is very sad and our hearts go out to all those affected by this tragedy,” Zulum said.

“I want to assure you that we will do everything possible to address the unfortunate situation that has befallen this community, and for those who have been abducted, the Nigerian military will do everything within its capacity to rescue them,” Zulum assured.

Governor Zulum explained that military operations are currently ongoing in Ngoshe and the Sambisa Forest to rid the area of criminal elements.

“There are ongoing military operations within the Sambisa Game Reserve. What we witnessed yesterday was largely a result of insurgents being pushed out from their strongholds, which led them to launch coordinated attacks on nearby communities,” he explained.

He called on the Nigerian Army to intensify operations to clear insurgents from the Mandara Hills which he described as a major security threat.

“The Mandara Hills remain a major security concern. The insurgents descended from the hills to attack this town. Therefore, I call on the Nigerian Army and the Federal Government to intensify efforts to clear Mandara Hills of insurgents,” Zulum said.

The governor noted that the exact number of casualties is yet to be confirmed as assessments are still ongoing, but acknowledged that several lives were lost while others were abducted.

As part of immediate humanitarian intervention, the governor said the state government had begun distributing relief materials and establishing cooking points to provide food for displaced residents.

“For now, we will distribute food items to those affected and I have directed that cooking points be established so that everyone in this community can receive meals from a central kitchen,” he said.

The governor appealed to residents to remain calm and law-abiding, noting that Borno State government will double its efforts to end this madness. “We shall not relent in our commitment to restoring lasting peace and stability in the state,” he said.

“I strongly believe that with sustained military operations and cooperation between all levels of government, we will overcome this challenge. Insha Allah, peace will return fully to our land,” the governor added.

Similarly, Governor Babagana Zulum inspected houses burned during an attack by Boko Haram insurgents on Thursday in Konduga town.

Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents

Continue Reading

Trending

Verified by MonsterInsights