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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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Remi Tinubu commissions nursing quarters, two mega schools in Borno

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Remi Tinubu commissions nursing quarters, two mega schools in Borno

By: Michael Mike

The First Lady of Nigeria, Senator Oluremi Tinubu, on Monday commissioned newly completed nursing quarters and two mega primary schools in Maiduguri, the Borno State capital, as part of ongoing efforts to strengthen healthcare delivery and expand access to quality education in the state.

The projects were executed under Governor Babagana Zulum’s administration, which has continued to prioritize infrastructure development in the health and education sectors.

The newly inaugurated nursing quarters, located beside the State Specialist Hospital, consist of eight blocks of six flats each. The housing units are fully furnished and fitted with air-conditioning systems to improve living conditions for medical personnel.

In the education sector, Senator Tinubu also commissioned Aliyakeri and Abbaganaram Mega Primary Schools. Each facility features 48 classrooms designed to accommodate thousands of pupils, alongside ICT centres, modern sports facilities, e-learning platforms, and solar-powered systems to ensure uninterrupted academic activities.

Speaking at the ceremony, the First Lady commended Governor Zulum’s leadership style, describing the projects as people-focused and impactful.

“What we have seen so far in Borno is quite encouraging. You have done very well, and I am truly honoured to be part of this commissioning,” she said.

Governor Zulum’s administration has reportedly completed 104 mega schools across the state, with additional projects ongoing across Borno’s 27 local government areas.

During the event, Senator Tinubu also flagged off a N200 million empowerment programme targeting 2,000 vulnerable women. Each beneficiary is expected to receive N100,000 alongside a sewing machine to support small-scale businesses and improve household income.

The First Lady praised the initiative, noting that it aligns with national efforts to strengthen community-based economic empowerment and food security programmes.

Under the distribution plan, 400 women were selected from Maiduguri metropolis, 200 from Jere Local Government Area, 100 from Biu, while 50 beneficiaries were drawn from each of the remaining 24 local government areas.

In addition, eight outstanding education workers, including teachers, head teachers, principals, TVET coordinators, and ministry staff, were presented with brand-new utility vehicles in recognition of their service.

In a related gesture, Governor Zulum also presented a house to a ministry watchman, Baba Modu Fandi, in appreciation of his dedication, while Senator Tinubu further supported him with an additional ₦2 million financial assistance.

Remi Tinubu commissions nursing quarters, two mega schools in Borno

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Two Men Sustain Severe Injuries in Mutual Attack Over Mining Site Dispute in Niger State

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Two Men Sustain Severe Injuries in Mutual Attack Over Mining Site Dispute in Niger State

By: Zagazola Makama

Two men are receiving treatment at a hospital in Niger State after sustaining serious injuries in a violent altercation reportedly linked to a dispute at an illegal mining site.

Security sources told Zagazola that the incident occurred in a Fulani settlement near Iwa village in Gurara Local Government Area.

The sources said the matter was reported to the police on April 25 at about 1:30 p.m. after the victims were brought in by the Officer-in-Charge of Iwa Outstation.

According to the sources, the confrontation began on April 24 at about 9:00 a.m. when Jibril Yusuf, 22, allegedly went to the hut of Haruna Tukur, 35, and set him ablaze after a misunderstanding at an illegal mining site.

The sources further stated that Haruna Tukur, in retaliation, attacked Jibril Yusuf with a machete, severing his fingers during the violent exchange.

Both men were rushed to the General Hospital in Gawu Babangida, where they are currently responding to treatment.

Security operatives said investigations have commenced to determine the full circumstances surrounding the incident, while the case remains under active review.

Two Men Sustain Severe Injuries in Mutual Attack Over Mining Site Dispute in Niger State

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Windstorm Damages NYSC Camp in Niger, Two Children Injured

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Windstorm Damages NYSC Camp in Niger, Two Children Injured

By: Zagazola Makama

A heavy windstorm following a downpour has caused partial damage to structures at the National Youth Service Corps (NYSC) Orientation Camp in Paiko, Niger State, leaving two children injured.

Security sources told Zagazola that the incident occurred on April 25 at about 8:00 p.m. when strong winds brought down parts of the camp infrastructure during the rainfall.

The sources said police personnel were immediately mobilised to the scene to restore order and provide security, while some corps members were safely evacuated from affected areas.

According to the sources, no loss of life was recorded in the incident.

However, two girls identified as Fati Abdul, 12, and Adewumi Adesola, 11, sustained minor injuries during the incident. They were taken to a medical facility, treated and later discharged.

The sources added that normalcy has since been restored at the camp, while the area remains calm and under observation to ensure continued safety of occupants.

Windstorm Damages NYSC Camp in Niger, Two Children Injured

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