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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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Nine injured in farmers–herders clash in Nasarawa

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Nine injured in farmers–herders clash in Nasarawa

By: Zagazola Makama

No fewer than nine persons were injured on Monday following a clash between farmers and herders in Loko community, Nasarawa State.

Zagazola report that the incident occurred at about noon on Dec. 15 in Bakono village, Loko area, after a dispute over alleged damage to farmland.

The source said the farmland involved belonged to one Bako Usman.

According to the source, the clash resulted in injuries to five farmers and four herders.

Security forces stormed the scene to restore order, while the injured persons were rushed to the General Hospital, Loko, where they were admitted and are responding to treatment.

Sources said that a stakeholders’ meeting had been convened in the community to prevent further escalation of the crisis.

According to the sources, confidence-building patrols are ongoing, the situation is being closely monitored and the area remains relatively calm.

Nine injured in farmers–herders clash in Nasarawa

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Soldier killed as troops clash with suspected militia in Taraba

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Soldier killed as troops clash with suspected militia in Taraba

By: Zagazola Makama

A soldier has been killed, while two others are missing following an attack on troops escorting farmers in Takum Local Government Area of Taraba State.

Zagazola gathered that the incident occurred on Monday during a security operation in a bush area of Takum, which has been prone to clashes involving militia elements.

The source said soldiers from a special forces unit along with police, NSCDC were deployed to provide security for Tiv farmers harvesting their farm produce when they were attacked by hoodlums suspected to be local militia in Taraba state.

According to the source, one soldiers was killed during the attack.

The source further disclosed that following the incident, soldiers cordoned off the venue of the Miyetti Allah executives’ election at the FGR Samsokwa Hall, in Takum, and arrested male executives of the association present at the venue. Though it was yet to establish if they were involved in the attack.

Another sources pointed accusing finger at the Taraba state special adviser on security allegedly to be behind the Militia. Though, Zagazola cannot independently verify the claim.

Meanwhile, security forces have arrested a group of suspected armed bandits in Ifelodun Local Government Area of Kwara State. The suspects were caught with AK-47 rifles during an operation carried out on Friday.

After their arrest, the suspects were taken into custody. In a video that later surfaced online, the men were seen lying face down with their hands tied while security operatives questioned them about where they got the weapons.

One of the suspects alleged that some officials of the Kwara State government gave them both the vehicle and the rifles. He claimed they had been operating in the area under the cover of patrol duties.

According to him, the weapons did not belong to them personally. He said their leader collected the rifles and that they often went on patrol together with some individuals he mentioned by name. He insisted that the guns belonged to those officials.

Soldier killed as troops clash with suspected militia in Taraba

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Gunmen abduct five workers at construction site in Kwara

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Gunmen abduct five workers at construction site in Kwara

By: Zagazola Makama

Gunmen suspected to be bandits have abducted five workers at a construction site along the Sabaja/Owa-Onire Road in Kwara State.

Zagazola report that the incident was reported at about 4:30 p.m. on Monday by Alhaji Suleiman Abdullah Olanrewaju, manager of Fix Contracting Engineering Company.

The source said Olanrewaju reported that the abduction occurred earlier in the day at about 11:40 a.m. while the workers were on site when the gunmen attacked and whisked them away.

Those abducted were identified as Engr. Ademola Afolabi, Engr. Umar Lade, Fatai and Akin, both labourers, as well as a driver identified as Yusuf.

According to the source, the complainant said he had earlier reported the incident to the military before notifying the police.

Upon receipt of the report, the Divisional Police Officer (DPO) in Oreke mobilised a team of police operatives who linked up with the military and local vigilantes to comb the surrounding bushes in a bid to rescue the victims and arrest the perpetrators.

Investigation into the incident is ongoing, while security agencies said further developments would be communicated.
End

Gunmen abduct five workers at construction site in Kwara

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