News
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
Ogoni Leaders Petition Tinubu, Accuse Wike of Undermining Peace Dialogue
Ogoni Leaders Petition Tinubu, Accuse Wike of Undermining Peace Dialogue
By: Michael Mike
Leaders and people of Ogoniland have petitioned President Bola Tinubu over alleged attempts by the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to undermine the ongoing Federal Government–Ogoni dialogue process aimed at resolving the decades-long Ogoni crisis.
The petition was submitted under the auspices of the Conscience of Ogoni People (COOP), formerly known as the Ken Saro-Wiwa Associates, a group of concerned Ogoni stakeholders advocating peace, justice, and sustainable development in Ogoniland.
In a statement issued on Monday and signed by COOP’s Leader and Spokesman, Chief Gani Topba, the group expressed strong support for the dialogue and peace process being facilitated by the National Security Adviser (NSA), Mallam Nuhu Ribadu, describing it as the most credible effort so far to address the long-standing Ogoni question.
COOP alleged that Wike has been engaging in actions intended to frustrate the dialogue, tracing the dispute to unresolved issues from his tenure as Governor of Rivers State.
According to the group, the controversy is linked to a long-standing compensation dispute between the Ejama Ebubu community in Ogoni and the Shell Petroleum Development Company of Nigeria Limited (SPDC) over environmental damage claims that were decided in favour of the community.
The group stated that the Rivers State Government became deeply involved in the matter during Wike’s administration, a development that has remained contentious and unresolved in public discourse.
COOP further alleged that during the recent visit of the NSA to Ogoniland, political associates of the FCT Minister were instructed to boycott and undermine the engagement. The group claimed that efforts were deliberately made to sabotage the dialogue at the community level.
Raising security concerns, COOP alleged that armed youths recruited from different parts of Rivers State are currently being mobilised and camped around the Rivers State House of Assembly quarters, allegedly to destabilise the peace process.
The group also claimed that Wike is displeased with Rivers State Governor, Sir Siminalaiyi Fubara, for cooperating with the NSA to ensure the success of the Ogoni dialogue. According to COOP, local government chairmen in Eleme, Tai, Gokana and Khana LGAs were allegedly directed to recruit armed youths to disrupt the dialogue and frustrate the proposed resumption of oil operations in Ogoniland.
COOP warned that if these alleged actions are not checked, they could pose serious threats to public peace and security in Rivers State and derail the fragile but promising dialogue process.
The group noted that the ongoing engagement has been widely welcomed by Ogoni people as a sincere and inclusive initiative aimed at achieving lasting peace, environmental remediation, economic reintegration of Ogoni communities, and the safe resumption of oil production in Oil Mining Lease (OML) II. They added that a successful outcome would significantly boost national revenue, foreign exchange earnings, energy security and employment.
COOP appealed to President Tinubu to intervene by calling on the FCT Minister to desist from actions capable of reigniting tension in Ogoniland. The group urged the President to protect the dialogue process and mandate relevant security and intelligence agencies to investigate the allegations.
They call on the President to ensure that no individual, regardless of position, undermines national interest for personal or sectional gain, expressing confidence that decisive intervention would help secure peace in Ogoniland and reaffirm the Federal Government’s commitment to justice, national unity and economic recovery.
Ogoni Leaders Petition Tinubu, Accuse Wike of Undermining Peace Dialogue
News
Gamawa commended Gov. Bala for the creation of additional emirates in Bauchi
Gamawa commended Gov. Bala for the creation of additional emirates in Bauchi
By: Yahaya Wakili
His Royal Highness, the Emir of Gamawa in Bauchi State, Alhaji Adamu Abdulkadir Adamu, has commended His Excellency, the Executive Governor of Bauchi State, Senator Bala Abdulkadir Mohammad A Kauran Daular Ussumaniyya, for the creation of additional emirates, chiefdoms, and districts statewide.
The emir made the commendation in an interview with Newsng in Sabon Garin Nangere, the headquarters of the Tikau emirate council of Yobe state, when he visited His Royal Highness, the Emir of Tikau, Alhaji Abubakar Muhammadu Ibn Grema II.
He said the strategic move by His Excellency, the Executive Governor of Bauchi State, Senator Bala Abdulkadir Mohammad, brings essential development projects, empowers local aspirations, and ensures inclusive growth reaches every corner of the grassroots.
The emir revealed that he was at the Tikau emirate council today to express his profound appreciation to the emir of Tikau, Alhaji Abubakar Muhammadu Ibn Grema II, for his support given to us since we were appointed as the emir of Gamawa, adding that Tikau and Gamawa have had a strong relationship for a long time.
He said, “Tikau and Gamawa share a common border, and also we are neighbors, and we have the history of the Tikau emirate for fostering unity, justice, and loving his people, as well as involving all stakeholders, and steadfastly upholding law and order in his domain.”
“Therefore, we are soliciting the support, advice, and cooperation of the emir and also strengthening our relationship to govern the people of the Gamawa emirate council fairly without bias or selfish interest, and we thank the emir for the hospitality rendered to him and members of his emirate council.
Gamawa commended Gov. Bala for the creation of additional emirates in Bauchi
News
Police sergeant arrested for supplying arms used in Nasarawa robbery
Police sergeant arrested for supplying arms used in Nasarawa robbery
By: Zagazola Makama
A serving police sergeant has been arrested for allegedly supplying an AK-47 rifle used in an armed robbery attack in Doma Local Government Area of Nasarawa State.
Zagazola reliably informed by sources that the development followed the arrest of a robbery suspect, Justine Gbata, 30, of Doka Village, who was apprehended after gunmen attacked one Muhammad Danka of Ankoma Village and dispossessed him of his red Bajaj motorcycle.
The incident occurred at about 1:00 p.m. on Jan. 24, when the assailants, armed with an AK-47 rifle, fired several shots during the operation before fleeing into a nearby forest with the motorcycle.
“After the report, a combined team of police operatives, vigilantes and hunters pursued the attackers into the forest and arrested one suspect. Seven empty AK-47 shells were recovered at the scene,” the sources said.
They added that the suspect, who sustained injuries during the chase, was taken to General Hospital, Doma, for treatment.
“During interrogation, the suspect confessed that the rifle used for the robbery was supplied by a serving police sergeant attached to Daudu Division in Benue State,” the sources said.
The sergeant has since been identified and detained at the State Criminal Investigation Department (SCID) in Benue for further investigation.
Police authorities said efforts were ongoing to arrest the remaining members of the gang and recover the stolen motorcycle, while investigations into the case continue.
Police sergeant arrested for supplying arms used in Nasarawa robbery
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