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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
Troops intercept 11 youths with donkeys during patrol in Borno
By: Zagazola Makama
Troops of 68 Battalion have intercepted 11 youths during a routine patrol in Mallam Fatori area of Abadam Local Government Area of Borno State.
Security sources said the interception occurred along the Bulagana–Cheisa axis on April 2 during ongoing clearance operations in the area.
According to the sources, the individuals were found moving in the area with 12 donkeys when they were stopped and briefly interrogated by troops.
The sources added that the youths were later handed over, alongside the animals, to relevant authorities in a neighbouring country for further necessary action.
The military said the patrol was part of sustained efforts to maintain security dominance and prevent exploitation of border communities by criminal elements.
Troops intercept 11 youths with donkeys during patrol in Borno
Troops recover ammunition, logistics items in Kwara patrol operation
By: Zagazola Makama
Troops of the Nigerian Army under the 22 Brigade have recovered ammunition and other logistics items during a fighting patrol in Ifelodun Local Government Area of Kwara State.
A security source disclosed that the operation was conducted at about 4:00 p.m. on April 2 at Daban Lema, where troops of the brigade, operating from the Patrol Base, encountered signs of suspected terrorist activities in a deserted location.
According to the source, the troops immediately carried out exploitation of the area, leading to the recovery of four rounds of 7.62mm special ammunition and one empty PKT ammunition belt link.
Other items recovered include four mobile phones, two head warmers, two small solar panels, and assorted repair tools believed to have been used by the suspected terrorists.
The source added that the recovery indicates the presence and movement of suspected criminal elements within the area, noting that troops have intensified surveillance and patrols to deny them freedom of action.
Troops recover ammunition, logistics items in Kwara patrol operation
Troops foil attack by Criminal Youths, rescue victims, arrest suspects in plateau
By: Zagazola Makama
Troops of Sector 1, Operation Enduring Peace (OPEP), have foiled an attack on residents at Dutse Uku in Jos North Local Government Area of Plateau State.
A security source said the troops responded swiftly to a report of sporadic gunshots in the area at about 11:50 p.m. on April 2.
According to the source, upon arrival at the scene, the suspected criminals fled, abandoning their operation due to the prompt intervention of the troops.
He said the troops rescued two victims who sustained gunshot wounds during the incident and immediately evacuated them to a hospital for medical attention.
The source further disclosed that two suspects, dressed in black attire, were arrested at the scene.
Items recovered from the suspects include a cutlass and a knife.
He added that the suspects are currently in military custody and undergoing preliminary investigation, while efforts are ongoing to track down other fleeing members of the group.
Zagazola report that despite heightened security, there has been report of pocket of attacks in some communities.
The source reassured residents of the military’s commitment to protecting lives and property and urged the public to continue providing timely information to security agencies.
Troops foil attack by Criminal Youths, rescue victims, arrest suspects in plateau
Troops intercept suspected Boko Haram logistics convoy conveying 13 persons in Borno
Troops intercept 11 youths with donkeys during patrol in Borno
Troops, CJTF arrest three suspected Boko Haram logistics suppliers in Borno
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