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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
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Bandits ambush C-Watch operatives in Katsina, kill 8, burn patrol vehicles

Bandits ambush C-Watch operatives in Katsina, kill 8, burn patrol vehicles
By: Zagazola Makama
Suspected bandits have ambushed operatives of the C-Watch security outfit in Dandume Local Government Area of Katsina State, killing eight persons and setting two patrol vehicles ablaze.
The incident happened late Friday night when gunmen invaded a village near Dandume around midnight.

Residents said C-Watch operatives responded to a distress call and rescued eight villagers who had earlier sustained gunshot injuries during the attack.
However, on their way back, the operatives reportedly ran into an ambush by the bandits, who opened fire on them, killing the rescued victims and burning two patrol vehicles belonging to the security outfit.
Bandits ambush C-Watch operatives in Katsina, kill 8, burn patrol vehicles
News
Troops barbecued scores of bandits in Kankara, Katsina

Troops barbecued scores of bandits in Kankara, Katsina
By: Zagazola Makama
Troops of the Nigerian Army have eliminated scores bandits in ongoing clearance operations in Kankara Local Government Area of Katsina State.
Zagazola learnt that the operations, which began on Friday, targeted multiple bandit hideouts in the area.
The sources said the troops, supported by other security components, engaged the criminals in sustained firepower, leading to the neutralisation of an undisclosed number of them.
“The operations are still ongoing, with troops pursuing fleeing bandits into the forest corridors,” one of the sources said.
Military authorities are yet to issue an official statement as at press time.
Troops barbecued scores of bandits in Kankara, Katsina
News
Zulum Visits Families of 63 Borno Residents Killed by Boko Haram

Zulum Visits Families of 63 Borno Residents Killed by Boko Haram
By: Michael Mike
Borno State Governor, Babagana Zulum has visited Darajamal, a community in Bama, to condole with families of the 63 people killed by Boko Haram insurgents on Friday night.
The victims comprise 5 soldiers and about 58 civilians that were earlier displaced by the insurgents but have been resettled in Darajamal for two months now.
Zulum, visibly moved by the incident, met with community leaders and consoled the bereaved families. He expressed grief and condemned the brutal attack in the strongest terms.

Speaking to newsmen, the governor said, “We are here to commiserate with the people of Darajamal over what happened last night that has claimed the lives of many people. It is very sad. This community was settled a few months ago and they go about their normal activities, but unfortunately, they experienced Boko Haram attack last night. Our visit is to commiserate with them and build their resilience.”
On the casualties, the Governor said, “at this moment we have confirmed that 63 people lost their lives, both civilians and military, although the civilian casualties are more. Close to about 60 civilians and 5 soldiers lost their lives.”

Governor Zulum, while noting the challenges faced in the fight against insecurity, also called for the immediate deployment of the newly trained Forest Guards to complement the military in safeguarding vulnerable communities.
He said, “We have to take note that the numerical strength of the military is not enough to cover everywhere, so far so good, two sets of Forest Guards have been trained, therefore one of the solutions that we need to implement immediately is to deploy the trained Forest Guards to most of the locations that are vulnerable, they will protect the forest and communities.”
Also, the Senator representing Borno Central, Kaka Shehu Lawan, whose constituency Darajamal falls under, has condemned the attack, describing it as a crime against humanity.
He expressed his commitment to supporting Governor Babagana Umara Zulum through legislative backing to restore peace in Borno State.
Zulum Visits Families of 63 Borno Residents Killed by Boko Haram
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