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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
Breaking; Court Dismisses Sowore’s no-case submission in DSS’ charges of Cyberbulling Tinubu
Breaking; Court Dismisses Sowore’s no-case submission in DSS’ charges of Cyberbulling Tinubu.
*Fixes May 19 to open defence
Justice Mohammed Garba Umar of the Federal High Court in Abuja on Friday dismissed the no-case submission made by politician-activist, Omoyele Sowore, in the charge of Cyberbullying President Bola Tinubu brought against him by the Department of the State Services (DSS).
The Court upheld DSS’ charges against Sowore for allegedly calling President Bola Ahmed Tinubu a “criminal” in his social media handles. The judge fixed May 19 for Sowore to enter his defence in the charges against him.
Sowore had filed the no-case submission and prayed the court to discharge and acquit him from the 2-count charge.
In the long ruling, Justice Umar punctured Sowore’s arguments that the DSS provided only one witness, that the victim, President Bola Tinubu, wasn’t invited to testify. He held that the DSS successfully linked Sowore to the alleged crime, and that the defendant did not deny posting the offensive messages online.
The judge further ruled that the Supreme Court has long established that any evidence, no matter how small that links a defendant to an alleged crime is sufficient to establish a prima facie case established against the defendant to warrant his defence in the allegations against him.
Shortly after the ruling, counsel to the DSS, Akinlolu Kehinde, SAN, told the court that he was ready to proceed with the trial. However, Sowore’s counsel, Marshall Abubakar, rose to appeal to the judge that his client has something important to tell the court. Even though counsel to the DSS protested the move, insisting that the rule was that a defendant may be represented in court by a counsel or by himself, not both, the judge allowed Sowore use the microphone to address the court.
He began by openly accusing the Judge of bias, and asked the judge to recuse himself, as he wasn’t sure of getting justice in his court.
He alleged that the judge was in cohort with the federal government convict him at all costs so as to prevent him from contesting the 2027 general election.
His counsel, Abubakar echoed the same sentiment, asking the Judge to return the case file to the Chief Judge of the Federal High Court for re-assignment to another judge,
The DSS lawyer, Akinlolu Kehinde SAN who had earlier asked the Judge not to grant audience to Sowore but his counsel on record, prayed that the recusal application be discarded.
In a brief ruling, Justice Umar ordered Sowore to file formal application for recusal and state his grievances,
He thereafter fixed May 19 for the defendant to open his defense.
Breaking; Court Dismisses Sowore’s no-case submission in DSS’ charges of Cyberbulling Tinubu
News
Troops arrest five suspects Fulani during cordon-and-search operation in Plateau
Troops arrest five suspects Fulani during cordon-and-search operation in Plateau
By:Zagazola Makama
Troops under Operation Enduring Peace have arrested five suspects during a coordinated cordon-and-search operation in Jol community and surrounding areas in Riyom Local Government Area of Plateau State.
Security sources said the operation was launched at about 071120A on May 7 following a manhunt for individuals linked to an earlier isolated attack in the area.
The troops, operating under Sector 6, conducted sweeping searches within neighbouring settlements in an effort to track down those involved and prevent further escalation of violence.
During the exercise, five suspects were arrested from different locations within the operational area.
The arrested suspects were identified as Ibrahim Mamuda, 60; Abubakar Ahmed, 50; Suleiman Yakubu, 19; Sale Musa, 62; and Babangida Saleh, 25.
The sources said the suspects are currently in custody and undergoing interrogation as part of ongoing investigations into the attack.
They added that further operations are being sustained in the general area to ensure the arrest of other fleeing suspects and to stabilise the community.
Security presence has been reinforced in Jol and adjoining communities to prevent reprisals and maintain calm.
Troops arrest five suspects Fulani during cordon-and-search operation in Plateau
News
NESREA Moves to Integrate Informal Waste Workers into EPR Framework Through Cooperative Model
NESREA Moves to Integrate Informal Waste Workers into EPR Framework Through Cooperative Model
By: Michael Mike
The National Environmental Standards and Regulations Enforcement Agency (NESREA) has unveiled plans to formally integrate informal waste workers into Nigeria’s Extended Producer Responsibility (EPR) framework through a Cooperative-Led Model aimed at expanding inclusion, improving environmental compliance and strengthening the circular economy.
Director General of National Environmental Standards and Regulations Enforcement Agency, Professor Innocent Barikor, disclosed this on Wednesday during a virtual stakeholder sensitization programme on the Cooperative-Led Extended Producer Responsibility Model as a formalization strategy for the informal sector.
Barikor said the initiative is designed to bridge long-standing gaps in the EPR ecosystem by bringing informal waste collectors, sorters and recyclers into recognized cooperative structures that provide access to governance systems, financing, digital inclusion, social protection and environmental compliance support.
According to him, the cooperative-led framework would create opportunities for informal operators to gain legal identity and transition gradually into formal economic participants through digital onboarding platforms, traceability systems and a proposed Cooperative Passport framework.
“The Cooperative-Led EPR Model presents an opportunity to organize waste actors into recognized cooperatives, provide them with legal identity, digital inclusion, financial access and social protection, while simultaneously strengthening national EPR implementation and environmental data systems,” he said.
Barikor described the initiative as both a social and economic transformation strategy capable of improving livelihoods while boosting environmental sustainability and data-driven waste management practices.
Chief Steward of the Nigeria Environmental Stewardship Cooperative Society, Dr. Peter Ayim, who presented the framework, said the model offers Nigeria a scalable pathway toward building an inclusive circular economy.
Ayim noted that the cooperative system would help tackle major structural challenges confronting informal waste workers, including lack of formal recognition, poor access to financing, occupational hazards, health and safety concerns, and social exclusion.
He cited countries such as Brazil, Colombia, India and South Africa, as well as member states of the European Union, as examples where cooperative-led systems have successfully integrated informal waste actors into structured EPR programmes.
“Global experience confirms that cooperative-led systems are the most effective pathway for integrating informal waste actors into structured EPR frameworks, delivering both environmental sustainability and inclusive economic growth,” he stated.
Stakeholders at the virtual meeting included the Recyclers Association of Nigeria, Food and Beverage Recycling Alliance, E-Waste Producers Responsibility Organization of Nigeria and Rural Women Energy Security, among others.
NESREA Moves to Integrate Informal Waste Workers into EPR Framework Through Cooperative Model
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