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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
Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau
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
News
Security Operatives Repel Attack in Benue Community Over Land Dispute
Security Operatives Repel Attack in Benue Community Over Land Dispute
By Zagazola Makama
Security operatives have repelled an attack on Okpute Ainuette community in Oju Local Government Area of Benue State following a renewed land dispute with a neighbouring community.
Security sources said the incident occurred at about 9:15 a.m. on May 2 when armed men, suspected to be from a community in Obi Local Government Area, invaded the area.
The sources disclosed that operatives swiftly responded to a distress call and mobilised to the scene, where they engaged the attackers in a gun duel.
According to the sources, the assailants fled into nearby bushes after being overpowered by superior firepower.
They added that no casualty was recorded during the encounter.
The sources further said security teams have commenced combing operations in surrounding bushes to track down and arrest the fleeing suspects.
They noted that additional deployments have been made to reinforce ongoing operations in the area, with efforts focused on restoring calm and preventing further clashes between the communities.
Security Operatives Repel Attack in Benue Community Over Land Dispute
News
“Act Now or Lose the North”: KACRAN Issues Stark Warning as Insecurity Spirals Out of Control
“Act Now or Lose the North”: KACRAN Issues Stark Warning as Insecurity Spirals Out of Control
By: Michael Mike
The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has called on Northern leaders to set aside political differences and take decisive, collective action to address the worsening insecurity in Nigeria’s North-West and North-Central regions.
In a strongly worded press statement at the weekend signed by its National President, Hon. Khalil Mohammed Bello, the association expressed deep concern over the prolonged crisis, which it said has led to the deaths of thousands of innocent citizens, the destruction of property worth trillions of naira, and the widespread rustling of livestock—the primary source of livelihood for millions of families.
KACRAN described the situation as both tragic and avoidable, warning that continued inaction could inflict irreversible economic and political damage on the region.
The association particularly highlighted a disturbing report by Amnesty International concerning an incident in Kwara State, where several pastoralists—including women and children—were allegedly detained at a National Youth Service Corps (NYSC) orientation camp. According to the report, more than 150 detainees reportedly died due to disease and poor living conditions.
KACRAN called for a full, transparent investigation into the incident and demanded the immediate release of innocent individuals still in detention.
Central to KACRAN’s message is the assertion that Northern Nigeria possesses the resources and leadership required to end insecurity if there is genuine commitment. The group pointed to the region’s pool of experienced leaders—including former Heads of State, military officers, traditional rulers, and business figures—as critical assets that must be mobilized.
“The solution lies with us,” the statement emphasized, urging Northern stakeholders to take ownership of the crisis rather than shifting blame.
While calling for regional responsibility, KACRAN acknowledged efforts by President Bola Tinubu noting key security appointments and significant budgetary allocations—reportedly exceeding ₦5 trillion—to the defence sector as evidence of federal commitment.
However, the group cautioned that relying solely on the Federal Government without complementary local action would delay meaningful progress.
KACRAN also underscored the importance of dialogue, citing relative peace achieved in areas such as Birnin Gwari in Kaduna State and parts of Katsina State as proof that collaborative engagement among leaders can yield results.
Despite the reported incident, the association praised the Kwara State Government for its efforts in livestock development, particularly the creation of a dedicated ministry. It said these initiatives demonstrate goodwill toward pastoral communities, while urging authorities to ensure justice and prevent future occurrences.
KACRAN stressed the enduring unity of Northern Nigeria, warning against allowing political divisions to undermine shared heritage and coexistence.
“The North must not allow politics to destroy a house we all inhabit,” the statement read, calling for urgent action to restore peace, mutual respect, and stability across the region.
The association expressed hope that its appeal would galvanize leaders into coordinated action capable of ending the cycle of violence and rebuilding trust among communities.
“Act Now or Lose the North”: KACRAN Issues Stark Warning as Insecurity Spirals Out of Control
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