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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
FG Targets Cross-Border Mobile Connectivity to Boost Security, Cut Internet Costs
FG Targets Cross-Border Mobile Connectivity to Boost Security, Cut Internet Costs
By: Michael Mike
The Federal Government has unveiled plans to expand Nigeria’s mobile and digital connectivity beyond its borders as part of a broader strategy to strengthen national security and lower the cost of internet services across the region.
The initiative was disclosed on Monday during the second edition of the Nigerian Satellite Week 2026 held in Abuja and organised by Nigerian Communications Satellite Limited.

Speaking at the event, the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, said the Federal Government plans to extend Nigeria’s fibre-optic network into neighbouring countries as part of efforts to modernise digital infrastructure and tackle security challenges.
According to him, the administration of Bola Ahmed Tinubu is investing in about ninety thousand kilometres of fibre-optic infrastructure that will connect Nigeria with neighbouring countries including Cameroon, Niger, Burkina Faso and Chad.
Tijani explained that the regional connectivity project would help reduce the cost of internet capacity in neighbouring countries, where the price of connectivity is significantly higher than in Nigeria.
He noted that while the project would improve digital access and affordability, it would also support national security operations along the country’s borders.
“This fibre network will also provide opportunities for the military because it will run across our borders, which means we will have stronger capabilities for fibre sensing and surveillance,” the minister said.
He also highlighted Nigeria’s strategic advantage as the only country in West Africa operating its own communications satellite through Nigerian Communications Satellite Limited, noting that the platform plays a critical role in providing connectivity to remote and underserved communities.

According to Tijani, satellite infrastructure supports sectors such as agriculture, education, business and security, especially in areas where terrestrial networks are limited.
He commended President Tinubu for approving the acquisition of additional satellites, describing the move as a strong demonstration of the government’s commitment to building future-ready digital infrastructure.
The minister added that investments in infrastructure must be accompanied by practical applications capable of driving real development outcomes.
“Satellite technology is a powerful enabler, particularly in the area of security,” he said.
In her welcome remarks, the Managing Director of Nigerian Communications Satellite Limited, Jane Nkechi Egerton-Idehen, said the event reflects Nigeria’s growing commitment to harnessing space technology for national development.
She highlighted initiatives such as Project 774, which aims to provide satellite-enabled connectivity to all local government areas in Nigeria, ensuring that rural and underserved communities are not left behind in the country’s digital transformation.
Egerton-Idehen also noted that the agency is strengthening its global partnerships, including collaborations with Eutelsat and the Kenya Space Agency, while Nigeria currently serves as Vice Chair of the Global Satellite Operators Association.
She explained that the role allows Nigeria to participate actively in shaping international satellite policy and spectrum management discussions.
Also speaking at the event, the Executive Vice Chairman of the Nigerian Communications Commission, Dr Aminu Maida, emphasised the importance of satellite technology in strengthening communication systems and supporting critical services.
According to him, satellite infrastructure has become vital for communication, emergency response, education, security and broader technological advancement.
The Nigerian Satellite Week 2026 brings together policymakers, industry leaders, researchers and innovators to explore opportunities within the satellite and digital infrastructure ecosystem.
Participants say the event provides a platform for collaboration aimed at positioning Nigeria as a leading force in Africa’s rapidly expanding digital and satellite economy.
FG Targets Cross-Border Mobile Connectivity to Boost Security, Cut Internet Costs
News
VP Shettima Visits El-Rufai, Consoles Ex-Kaduna Gov Over Mother’s Demise
VP Shettima Visits El-Rufai, Consoles Ex-Kaduna Gov Over Mother’s Demise
By: Our Reporter
Vice President Kashim Shettima has commiserated with former Governor of Kaduna State, Mallam Nasir El-Rufai, over the death of his mother, late Hajiya Fatima Umma.

The Vice President who paid the El-Rufai family at their Abuja residence called for collective effort in uniting the nation aside political differences.

Senator Shettima prayed for the repose of the soul of the late matriarch of the El-Rufai family.

The late Hajiya Fatima Umma El-Rufai passed away on Friday, March 27, 2026 in Cairo, Egypt, at the age of 96.

The Vice President was received by former Governor of Bauchi State, Ahmad Adamu Muazu; former Chief of Army Staff, General Abdurrahman Dambazau; Abdullahi Sarkin Gobir Adiya, and the member Representing Kaduna North, Bello El-Rufai, Bashir El-Rufai.
VP Shettima Visits El-Rufai, Consoles Ex-Kaduna Gov Over Mother’s Demise
News
Stakeholders Push for Scaled-Up Energy Efficiency in Nigeria’s Industrial Sector
Stakeholders Push for Scaled-Up Energy Efficiency in Nigeria’s Industrial Sector
By: Michael Mike
Stakeholders from government, the organised private sector, development agencies, and civil society have called for stronger collaboration and expanded financing to accelerate the adoption of energy-efficient and cleaner production practices in Nigeria’s industrial sector.
The call was made on Monday during a special project-specific interactive session and Efficiency Champions Competition organised under the Global Environment Facility and United Nations Industrial Development Organization Industrial Energy Efficiency and Resource Efficient and Cleaner Production project in Abuja.
The event brought together representatives of industries, non-governmental organisations, financial institutions, policy makers, and members of the media to review the progress of the initiative and explore opportunities for expanding sustainable industrial practices across the country.
Speakers at the session emphasised that improving energy efficiency and reducing waste in industrial operations are essential for lowering production costs, boosting competitiveness and promoting environmentally responsible manufacturing.
Opening the session, the project leadership said the initiative had recorded significant progress in promoting industrial energy efficiency and resource-efficient production methods within Nigeria’s manufacturing sector.
According to the National Project Coordinator, GEF-UNIDO IEE and RECP Project, Jacob Oladipo revealed that the project has supported capacity building programmes, cleaner production assessments, policy engagement and innovative financing mechanisms designed to help industries reduce energy consumption while improving productivity.
He explained that the project had demonstrated that sustainable industrial practices are not only environmentally responsible but also economically beneficial to businesses.
The session also provided an opportunity for stakeholders to review the outcomes of the project and identify lessons that could support the wider adoption of energy-efficient technologies and cleaner production systems across industries.
In a goodwill message delivered on behalf of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Mr. Kunle Fadare said the initiative was both timely and strategic for Nigeria’s industrial growth.
He noted that the industrial sector accounts for more than thirty per cent of the country’s total energy consumption but still operates far below optimal efficiency levels.
Fadare said studies have shown that improvements in energy efficiency within Nigerian industries could lead to savings of between twenty and forty per cent in energy use.
He added that such gains would translate into reduced production costs, improved competitiveness and lower greenhouse gas emissions.
He also highlighted the environmental implications of industrial waste, noting that Nigeria generates more than thirty-two million tonnes of solid waste annually, a significant portion of which originates from industrial activities.
According to him, adopting resource-efficient and cleaner production practices would not only reduce waste but also strengthen long-term business sustainability.
Fadare further praised the Efficiency Champions Competition, describing it as an important platform for recognising businesses that are taking concrete steps toward sustainable production.
He said the initiative would help showcase best practices and encourage other companies to adopt energy-efficient technologies.
Global trends, he added, show that markets increasingly favour environmentally responsible production systems, particularly as access to international markets becomes tied to sustainability and environmental compliance.
He therefore urged Nigerian businesses to proactively embrace energy efficiency and cleaner production practices to remain competitive in regional and global markets.
Also speaking, the Global Environment Facility desk officer commended the collaboration among stakeholders involved in implementing the project.
The official expressed appreciation to the United Nations Industrial Development Organization for providing technical guidance and to the Manufacturers Association of Nigeria for supporting the implementation of the initiative.
The desk officer also acknowledged the role played by various government ministries, departments and agencies, as well as the Department of Pollution Control and Environmental Health, in advancing the project’s objectives.
According to the official, the interactive session was designed to allow stakeholders to examine emerging issues related to energy use in industries, share experiences, address challenges and identify opportunities for improvement.
The official stressed that sustainable economic growth requires strong collaboration among government, industry, development partners and civil society.
Participants were therefore encouraged to actively contribute ideas and insights that could help strengthen the implementation of energy-efficient industrial practices in Nigeria.
Representatives of the organised private sector also highlighted the need to scale up financing mechanisms that support industries seeking to adopt energy-efficient technologies.
They noted that while progress had been made through innovative financing models and technical support programmes, wider adoption would require increased investment, stronger policy support and continued capacity building for industries, particularly small and medium enterprises.
Stakeholders agreed that the engagement of the organised private sector, non-governmental organisations and the media would be critical in sustaining the momentum generated by the project.
They emphasised that awareness creation, knowledge sharing and policy advocacy would play key roles in expanding the adoption of energy-efficient and cleaner production practices across Nigeria’s industrial landscape.
Participants expressed optimism that stronger collaboration among stakeholders would help accelerate the transition toward a more efficient, competitive and environmentally sustainable industrial sector in Nigeria.
Stakeholders Push for Scaled-Up Energy Efficiency in Nigeria’s Industrial Sector
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