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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
News
Troops Rescue Two Kidnap Victims in Kogi
Troops Rescue Two Kidnap Victims in Kogi
By Zagazola Makama
Troops of the Nigerian Army have rescued two kidnapped victims during a routine patrol in Yagba West Local Government Area of Kogi State.
Security sources said the operation took place at about 7:01 p.m. on April 30 when troops of 12 Brigade deployed at Okoloke Patrol Base intercepted suspected kidnappers at Ejiba community.
The sources disclosed that the troops acted swiftly, forcing the suspects to abandon their victims.
According to the sources, the two kidnapped persons were successfully rescued and later reunited with their families.
They added that security patrols have been intensified in the area to prevent further incidents and ensure the safety of residents.
Troops Rescue Two Kidnap Victims in Kogi
News
Nigeria Summons South Africa Envoy Over Renewed Anti-Foreigner Protests, Attacks on Nigerians
Nigeria Summons South Africa Envoy Over Renewed Anti-Foreigner Protests, Attacks on Nigerians
By: Michael Mike
The Federal Government has summoned the Acting High Commissioner of South Africa following mounting concerns over a fresh wave of anti-foreigner protests and reported attacks targeting Nigerian citizens and their businesses.
The Ministry of Foreign Affairs disclosed that the envoy is expected at its headquarters in Abuja on Monday, May 4, 2026, where Nigerian authorities will formally register their strong displeasure over developments seen as threatening the long-standing diplomatic and economic ties between both countries.
At the heart of the meeting are recent demonstrations by various groups in South Africa, which have reportedly degenerated into harassment, violence, and destruction of foreign-owned businesses—many belonging to Nigerians. The incidents have triggered widespread anger among Nigerians, amid fears for the safety of thousands living and working in South Africa.
Spokesperson of the Ministry, Kimiebi Ebienfa on Saturday said the government is deeply worried about the implications of the unrest on bilateral relations, stressing that Nigeria remains committed to protecting its citizens abroad while pursuing diplomatic solutions.
Despite the rising tension, the Federal Government urged Nigerians to remain calm, assuring that steps are being taken at the highest diplomatic levels to address the situation and ensure the safety and dignity of its nationals.
Nigeria and South Africa share one of Africa’s most strategic bilateral relationships, rooted in a history of solidarity dating back to Nigeria’s support for the anti-apartheid struggle. However, relations have repeatedly come under strain due to recurring outbreaks of xenophobic violence in South Africa.
Notably, major incidents in 2008, 2015, and 2019 saw widespread attacks on foreign nationals, including Nigerians, leading to deaths, looting, and destruction of properties. The 2019 crisis, in particular, sparked a diplomatic row, with Nigeria recalling its High Commissioner and boycotting the World Economic Forum on Africa 2019 in protest.
In response to past crises, both countries established diplomatic mechanisms, including an early warning system and joint consular forums, aimed at preventing further violence and protecting citizens. Despite these measures, sporadic tensions and anti-immigrant sentiments have persisted, often fueled by local grievances over unemployment and crime.
Analysts warned that the current developments, if not swiftly contained, could once again test diplomatic ties between Africa’s two largest economies and undermine regional integration efforts under frameworks such as the African Union and the African Continental Free Trade Area.
The outcome of Monday’s meeting is therefore seen as crucial in determining whether both nations can de-escalate tensions and reaffirm their commitment to mutual respect, cooperation, and the protection of citizens on both sides.
Nigeria Summons South Africa Envoy Over Renewed Anti-Foreigner Protests, Attacks on Nigerians
News
Troops Rescue Injured Victim After Attack by Berom militia in Plateau
Troops Rescue Injured Victim After Attack by Berom militia in Plateau
By Zagazola Makama
Troops of Operation Safe Haven have rescued a civilian who sustained machete injuries following an attack by Berom militia along Bachi–Werreng Road in Riyom Local Government Area of Plateau State.
Security sources said the incident occurred at about 7:20 p.m. on May 1 when suspected criminals attacked the victim along the road.
The sources disclosed that troops of Sector 6, deployed at Bachi, swiftly responded to a distress call and moved to the scene.
According to the sources, the attackers fled upon the arrival of the troops, abandoning the injured victim.
They added that the victim, who sustained machete cuts, was immediately evacuated to a hospital in Rachi for medical treatment.
The sources further said the assailants carted away the victim’s motorcycle during the attack.
They noted that security patrols have been intensified in the area, while efforts are ongoing to track down the fleeing suspects.
Troops Rescue Injured Victim After Attack by Berom militia in Plateau
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