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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
NA CAT Week: Army Flags Off Free Medical Outreach in Kaduna Community
By Zagazola Makama
The Nigerian Army has commenced pre-event activities for its Combat Arms Training (CAT) Week 2026 with a free medical outreach for residents of Birnin Yaro community in Kaduna State.
Security sources said the outreach, which held on May 2, was flagged off by the Chief of Integrated Combat Arms, Maj.-Gen. G.M. Mutkut, as part of preparations for the CAT Week scheduled to take place at Jaji Military Cantonment from May 4 to May 8, 2026.
The sources disclosed that the programme provided free medical consultations and treatment for members of the host community, as well as personnel and their family members.
According to the sources, the initiative was designed to strengthen civil-military relations while improving access to basic healthcare services for underserved communities.
They added that senior officers, including the Principal Staff Officer from Headquarters Infantry Corps Centre and members of the Central Organising Committee for the CAT Week, were in attendance.
The sources noted that the event was conducted peacefully and without any incident.
NA CAT Week: Army Flags Off Free Medical Outreach in Kaduna Community
Troops Arrest Two Suspected Terrorists in Borno, Recover Phones and Charms
By Zagazola Makama
Troops of the Nigerian Army have arrested two suspected terrorists during a patrol operation in Ngamdu town, Kaga Local Government Area of Borno State.
Security sources said the operation was conducted at about 5:35 p.m. on May 2 by troops of 154 Battalion while on routine patrol within the area.
The sources disclosed that the suspects were intercepted and arrested during the patrol.
According to the sources, items recovered from them include one mobile phone, one keypad phone, a power bank, charms and other sundry items.
They added that the suspects are currently in military custody for further interrogation and investigation.
The sources noted that further action will be taken after profiling, while patrols in the area have been intensified to maintain security dominance.
Troops Arrest Two Suspected Terrorists in Borno, Recover Phones and Charms
Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau
By Zagazola Makama
Four persons have been killed and three others injured following an attack by unknown gunmen at an illegal mining site in Barkin-Ladi Local Government Area of Plateau State.
Security sources said the incident occurred at about 1:30 p.m. on May 2 at Mazat mining site, where the victims were reportedly engaged in unauthorised mining activities.
The sources disclosed that the assailants opened fire on the victims, killing four on the spot while three others sustained varying degrees of gunshot injuries.
According to the sources, the injured victims—two females and one male—were rushed to a nearby hospital for medical attention and are currently receiving treatment.
They added that the corpses of the deceased have been deposited at the hospital morgue for autopsy.
The sources further noted that security operatives were mobilised to the scene, while additional deployments have been made to track down the perpetrators.
They reiterated that night mining activities remain prohibited in the state, stressing that investigations into the incident are ongoing.
Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau
NA CAT Week: Army Flags Off Free Medical Outreach in Kaduna Community
Troops Arrest Two Suspected Terrorists in Borno, Recover Phones and Charms
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