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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
Security operatives arrest suspected fuel suppliers to bandits in Gombe
By: Zagazola Makama
Security operatives in Gombe State have arrested two suspected fuel suppliers believed to be providing logistics support to bandits operating in neighbouring communities in Bauchi State.
Security sources said the suspects were arrested on March 4 at about 4:30 a.m. during a stop-and-search operation along the Kashere–Futuk Road in Akko Local Government Area of the state.
The sources said the operation followed intelligence reports indicating that bandits terrorising parts of Bauchi State were sourcing fuel supplies from Kashere in Gombe State.
During the operation, operatives intercepted a red tinted Golf 3 vehicle with registration number GME 221 XA, loaded with 29 jerrycans of Premium Motor Spirit (PMS).
The vehicle was driven by one Aliyu Usman, 20, of Futuk Village in Alkaleri Local Government Area of Bauchi State, who reportedly fled the scene and escaped.
Two passengers in the vehicle, identified as Bello Abdullahi, 52, and Sulaiman Musa, 40, both from Futuk Village in Alkaleri LGA of Bauchi State, were arrested at the scene.
The suspects claimed that the fuel was purchased in Billiri, Gombe State.
The police impounded the vehicle along with the 29 jerrycans of fuel as exhibits while investigations are ongoing to determine their involvement in supplying fuel to criminal elements.
Efforts are also underway to apprehend the fleeing driver and uncover other members of the suspected supply network.
Security operatives arrest suspected fuel suppliers to bandits in Gombe
Troops of 3 Division liberate Mansur Village, Alkaleri LGA in Operation BUGUN KARKANDA III
By: Zagazola Makama
Troops of 3 Division Nigerian Army have successfully liberated Mansur Village and surrounding settlements in Alkaleri Local Government Area of Bauchi State as part of the ongoing Operation BUGUN KARKANDA III.
The operation, led by Major General Folusho Oyinlola, General Officer Commanding 3 Division and Commander of Operation ENDURING PEACE, targeted armed terrorists and criminal elements terrorising the local communities.
According to military sources, troops executed a coordinated offensive on identified flashpoints, dislodging terrorists who had attempted to seize control of Mansur Village. An AK-47 rifle was recovered during clearance operations, degrading the operational capacity of the insurgents.
Following the offensive, troops consolidated their positions and conducted patrols across Alkaleri LGA to maintain security and restore normalcy. Residents have reportedly begun resuming socio-economic activities in the area.
Military intelligence indicates that cross-border terrorist gangs operate within Plateau, Bauchi, and Taraba States, exploiting local terrains and engaging in fluid movement patterns to evade security forces.
The insurgents are reported to include high-value targets such as Mallam Lehi, Mai-Kunkuru, and Mallam Azuge, who operate in the Wase/Kanam forests and Jejin Madam axis.
The General Officer Commanding urged troops to maintain vigilance, stressing the importance of denying terrorists freedom of action while ensuring civilian protection.
Operation BUGUN KARKANDA III is part of the Nigerian Army’s ongoing efforts to dominate insurgent corridors and restore peace and security in North East and North Central Nigeria.
Troops of 3 Division liberate Mansur Village, Alkaleri LGA in Operation BUGUN KARKANDA III
Military EOD neutralizes improvised explosive device in Talata Mafara, Zamfara
By: Zagazola Makama
An improvised explosive device (IED) planted between Yar Danya and Maikwanugga villages in Talata Mafara Local Government Area of Zamfara State has been safely neutralized by military Explosive Ordnance Disposal (EOD) experts.
Zagazola report that the operation, conducted on March 3 at about 2:00 p.m., followed the discovery of the device along a key village route. Security sources said the EOD team successfully detonated the IED, preventing potential harm to residents and commuters in the area.
Patrol and monitoring activities by the troops of Operation FANSAN YANMA and other security forces had since been intensified in the vicinity to ensure the safety of the local population and prevent further threats.
Military EOD neutralizes improvised explosive device in Talata Mafara, Zamfara
Security operatives arrest suspected fuel suppliers to bandits in Gombe
Troops of 3 Division liberate Mansur Village, Alkaleri LGA in Operation BUGUN KARKANDA III
Military EOD neutralizes improvised explosive device in Talata Mafara, Zamfara
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