Connect with us

News

Nigeria to Benefit from US$500 million Development Plan

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Rival bandit leaders clash as key peace enforcer is killed in Jibia axis, Katsina

Published

on

Rival bandit leaders clash as key peace enforcer is killed in Jibia axis, Katsina

By: Zagazola Makama

A prominent bandit leader and key enforcer of a fragile peace arrangement in Jibia, Katsina State, Abdullahi Lantai, also known as “Lantai Officer”, has been killed in a deadly ambush linked to a rival gang.

Security sources told Zagazola Makama on Wednesday that Lantai was executed on Jan. 27 at about 1:00 p.m. by gunmen believed to be loyal to the Bello Turji-led network operating across Sokoto and Zamfara states.

According to the sources, Lantai was lured to what was described as a dialogue and reconciliation meeting following a rivalry clash between his group and the Turji faction on Jan. 24.

“The meeting was reportedly arranged by Turji and Aliyu Aliero to resolve the conflict. However, Lantai and some of his foot soldiers were ambushed and killed on their way to the venue by members of the Turji network led by Dogo Rabe and Black,” a source said.

Preliminary findings indicate that before his assassination, Lantai played a critical role in sustaining a temporary peace deal with bandit leaders in Jibia in collaboration with the Katsina State Government.

“He was a territorial gatekeeper who denied Turji’s gang freedom of action and passage through Jibia forest routes.

“He also blocked transit routes used to move rustled cattle from Zamfara to Maradi in the Republic of Niger, effectively constraining Turji’s operations within the axis,” the source added.

Zagazola warn that the killing could trigger a major escalation in violence across the Jibia axis and its environs.

“This is a calculated power grab. The Turji network appears determined to eliminate a stabilising force and expand its influence, smuggling routes and criminal economy into Katsina State,” the source said.

The threat level in the Jibia axis has now been assessed as high, with strong indications of possible retaliatory attacks by Lantai’s faction and pre-emptive assaults by Turji’s forces to consolidate control.

Residents fear that the relative calm previously enjoyed in the area may give way to renewed instability marked by kidnappings, cattle rustling and attacks on communities as rival groups struggle for dominance.

Zagazola learnt that security agencies are said to be reviewing the situation with a view to deploying robust countermeasures to prevent a total breakdown of the fragile peace in the coming days.

Rival bandit leaders clash as key peace enforcer is killed in Jibia axis, Katsina

Continue Reading

News

Troops raid bandits’ hideout in Plateau, neutralise notorious kidnapper

Published

on

Troops raid bandits’ hideout in Plateau, neutralise notorious kidnapper

By: Zagazola Makama

Troops of Sector 2 of Operation OPEP have raided a suspected bandits’ hideout at Nahuta Village, Kadarko District in Wase Local Government Area of Plateau State, neutralising a notorious kidnapper during the operation.

A security source told Zagazola Makama on Wednesday that the raid was carried out on Tuesday night, Jan. 27, at about 8:30 p.m., following actionable intelligence.

According to the source, the troops came under fire from the criminals on arrival at the hideout but responded with superior firepower, forcing the bandits to flee in disarray.

“In the process, one bandit was neutralised. He was later confirmed to be a notorious kidnapper identified as Mr Timchak Zindang, who had been terrorising the general area,” the source said.

Items recovered from the scene included two locally fabricated rifles, eight cartridges, three rounds of 7.62mm ammunition and one desert camouflage uniform.

Preliminary investigations revealed that the criminal syndicate was responsible for several criminal activities, including kidnapping, cattle rustling and armed robbery along the Wase–Bashir road and its environs.

The source added that efforts were ongoing to track down the other fleeing members of the gang, while further investigation into the network was in progress.

Troops raid bandits’ hideout in Plateau, neutralise notorious kidnapper

Continue Reading

News

First Batch of 300 Refugees Returns to Gwoza in Landmark Homecoming

Published

on

First Batch of 300 Refugees Returns to Gwoza in Landmark Homecoming

By: Our Reporter

The first batch of 300 Nigerian refugees has returned to Gwoza in Borno State, marking the commencement of the fourth phase of a sustained repatriation exercise.

The returnees, comprising 75 households, arrived in Pulka, Gwoza Local Government in a coordinated and dignified homecoming.

The journey for the families represented not merely a border crossing, but an emotional passage from displacement to building their livelihood after 11 years in IDP camp in Cameroon republic.

This milestone follows Borno State Governor Babagana Umara Zulum’s visit to their camp in Cameroon on 8 December 2025, where he pledged a voluntary, safe, and dignified return process.

Chairman of the Borno State Sub-Committee on Repatriation, Engr. Lawan Abba Wakilbe described the exercise as a significant achievement in the lifetime of the present administration.

“This homecoming is a testament to our collective resolve. We are not just moving people; we are restoring lives and reigniting hope in our communities,” Wakilbe stated.

In a show of regional solidarity, the Governor of Cameroon Far North Region, Minjinyawa Bakari, personally bade the refugees farewell, reaffirming bilateral cooperation in addressing the humanitarian impact of insurgency around Lake Chad.

Upon arrival in Pulka, the returnees were formally received by local authorities and security officials. In a show of gratitude,some of the returnees knelt to touch the soil of their homeland; others offered prayers, while children many of whom had spent most of their lives abroad, observed their ancestral home with curiosity.

Each household head received ₦500,000 in cash, with an additional ₦50,000 to each wife to facilitate smooth reintegration.

The Borno State Government provided mattresses and wrappers, while the National Commission for Refugees supplied essential food items, including rice, millet, beans, and cooking oil.

This phase of the exercise is a broader strategy to stabilise resettled communities, rebuild infrastructure, and restore livelihoods across insurgency-affected communities.

Personalities that accompanied the Chairman of the Borno State Sub-Committee on Repatriation, Engr. Lawan Abba Wakilbe included members of House of Assembly representing Kaga, Gwoza and Gulumba Woloji, Honourable Mustafa Alibe Benishiekh, Buba Abatcha, Baba Shehu Gulumba, Chairman Gwoza local government, Abba Shehu Timta and official of National Commission for Refugees, Migrants and Internally Displaced Persons Mr. Murdakai Titus.

First Batch of 300 Refugees Returns to Gwoza in Landmark Homecoming

Continue Reading

Trending

Verified by MonsterInsights