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Nigeria to Benefit from US$500 million Development Plan

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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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Troops ambush terrorist group, recover bicycles in Marte–Dikwa axis

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Troops ambush terrorist group, recover bicycles in Marte–Dikwa axis

By: Zagazola Makama

Troops of the Nigerian Army under the Joint Task Force North East, Operation Hadin Kai, have repelled suspected terrorists during an ambush operation along the Marte–Dikwa axis of Borno.

Security sources said the encounter occurred late on March 13 when troops of the 50 Task Force Battalion under the 24 Task Force Brigade, in conjunction with personnel of the 134 Special Forces Battalion and members of the Civilian Joint Task Force, laid an ambush along the main supply route between Marte and Dikwa in Borno State.

According to the sources, the troops made contact with a group of terrorists moving on bicycles at about 10:15 p.m.

The troops immediately engaged the insurgents forcing them to withdraw into nearby bushes.

During exploitation of the area, the troops recovered the corpse of one suspected terrorist, four bicycles and other sundry items believed to have been abandoned by the fleeing insurgents.

Troops ambush terrorist group, recover bicycles in Marte–Dikwa axis

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Oshodi will represent Africa’s interest at WTT, says Mailantarki

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Oshodi will represent Africa’s interest at WTT, says Mailantarki

The Vice President of the Nigeria Table Tennis Federation (NTTF), Hon. Khamisu Ahmed Mailantarki, has hailed the appointment of Nigeria’s foremost table tennis administrator, Wahid Oshodi to the Board of World Table Tennis (WTT).

Hon. Mailantarki described the appointment as a “round peg in a round hole,” noting that Oshodi’s elevation to the game’s apex commercial body is a testament to his track record of excellence.

Oshodi, who is the current President of the African Table Tennis Federation (ATTF) and Executive Vice President of the International Table Tennis Federation (ITTF), was appointed as a Director to represent the ITTF on the WTT Board alongside ITTF President Petra Sörling.

“This is a proud moment for Nigeria and a victory for the African continent,” Mailantarki stated.

“Barrister Oshodi has risen through the ranks from the national level to the continental stage with a vision that has transformed the sport.

“Having him as a decision-maker at the highest level of World Table Tennis ensures that African interests are well-represented.”

The NTTF Vice President further congratulated the Nigerian sports community, emphasizing that Oshodi’s presence in the WTT inner circle will serve as a catalyst for the continued growth and commercialization of the game globally.

Oshodi will represent Africa’s interest at WTT, says Mailantarki

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Troops rescue six kidnapped victims after gun battle with terrorists in Kaduna

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Troops rescue six kidnapped victims after gun battle with terrorists in Kaduna

By: Zagazola Makama

Troops of the 1 Division Nigerian Army under Operation FANSAN YANMA have rescued six kidnapped victims after engaging suspected terrorists in a gun battle in Kachia Local Government Area of Kaduna State.

Sources told Zagazola Makama that the rescue operation followed credible intelligence on the movement of armed terrorists suspected to be transporting abducted victims through forest routes in the area.

According to the sources, troops deployed at the Forward Operating Base (FOB) Gurara, under Sub-Sector 4 of Operation FANSAN YANMA, responded swiftly to the intelligence at about 7 a.m. on March 14.

The troops subsequently laid an ambush at a suspected crossing point used by the terrorists around Sabon Kurutu Village in Kachia LGA.

“During the operation, troops made contact with the terrorists and engaged them in a fierce gun battle. The criminals, overwhelmed by the superior firepower of the troops, fled into the surrounding bush, abandoning some items,” the source said.

Following the engagement, troops combed the general area and successfully rescued six kidnapped victims. However, a seventh victim, a minor, was reported to have died during the crossfire between the troops and the fleeing terrorists.

Troops also recovered three motorcycles believed to have been used by the terrorists during the movement of the abducted victims.

Preliminary interrogation of the rescued victims revealed that they were abducted earlier on March 14 from Janjala Village in Kagarko Local Government Area of Kaduna State. The victims said they had been moved through forest routes by the terrorists before the troops intercepted them.

The rescued victims and the body of the deceased minor were evacuated to Katari Hospital for medical attention and other necessary procedures.

Military sources said families of the rescued victims had been contacted.

The Military said the troops 1 Division Operation FANSAN YANMA and other task force has continued sustained offensives and intelligence-driven operations aimed at dismantling terrorist and bandit networks across the North-West region.

Troops rescue six kidnapped victims after gun battle with terrorists in Kaduna

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