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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
AT ARMED FORCES CELEBRATION AND REMEMBRANCE DAY
AT ARMED FORCES CELEBRATION AND REMEMBRANCE DAY
ALL IN HONOUR OF OUR NATION’S FALLEN HEROES
By: Our Reporter
Vice President Kashim Shettima today represented President Bola Ahmed Tinubu GCFR at the 2026 Armed Forces Celebration and Remembrance Day ceremony held at the National Arcade in Abuja.

Also in attendance were the President of the Senate, Senator Godswill Obot Akpabio; the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun; the Deputy Speaker of the House of Representatives, Benjamin Kalu; ministers, service chiefs and other government officials.

The solemn event commemorates the courage and sacrifices of Nigeria’s fallen heroes who gave their lives in service to the nation.
AT ARMED FORCES CELEBRATION AND REMEMBRANCE DAY
News
Technology enhances immersive reading experience in Beijing
Technology enhances immersive reading experience in Beijing
By Shi Fang, People’s Daily
“Mr. Lu Xun, could you recommend one of your classic works?”
“If I were to suggest one, perhaps Call to Arms would be a good starting point…”
This conversation took place at the Metaverse Experience Hall of the Beijing Library. Supported by artificial intelligence (AI) and other emerging technologies, the hall offers visitors a novel approach to immersive reading and knowledge-based social engagement.
As one of three institutions under the Capital Library of China, the Beijing Library has introduced an AI-powered digital human modeled after renowned Chinese writer Lu Xun. Historically, Lu Xun played a role in establishing the predecessor of the Capital Library of China. Today, his digital incarnation symbolizes the library’s digital transformation.
“We developed the digital Lu Xun using AI technologies to provide guided tours, recommend books, and introduce local cuisine and cultural sites,” explained Fei Jun, professor with the School of Design, the Central Academy of Fine Arts, and creative director of the Metaverse Experience Hall. His team conducted in-depth research on Lu Xun’s life and works to create a realistic and multidimensional digital persona.
In addition to the digital Lu Xun, Fei’s team created two other digital characters, “Tutu” and “2122,” each with distinct personalities: one childlike and the other futuristic. These avatars, driven by large language models, engage visitors in conversations about literature and everyday life. Since the library opened at the end of 2023, these AI characters have participated in more than 1.7 million voice interactions.
Seven-year-old reader Wang Jiayi eagerly asked “2122” questions such as, “Why did dinosaurs go extinct?” and “Why do maple leaves turn red in autumn?” Her mother commented, “The digital humans are engaging and informative. They genuinely spark children’s interest in learning.”
Entering the library feels akin to stepping into a digital universe.
Visitors can scan a QR code to verify their identity, customize their attire, and quickly generate digital avatars within the Metaverse. These avatars can navigate virtual spaces such as the Children’s Library, Ancient Books Collection, Art Literature Library, and Intangible Cultural Heritage Library, exploring venue information and upcoming events.
Readers also interact with one another via their digital avatars, sharing reading lists, exchanging book reviews, and bridging online and offline reading experiences.
Looking ahead, the library plans to introduce additional immersive features, including personalized virtual study rooms. “Our goal is to offer a multisensory experience — visual, auditory, and even tactile — so users feel as if they’ve entered a parallel world for immersive reading,” Fei said. His team is also developing an online version of the metaverse library, enabling remote access to its digital environment and vast knowledge collections.
“Beyond traditional print books, we want to create a technology-enhanced environment that sparks curiosity and encourages readers to explore knowledge in innovative ways,” said Li Nianzu, deputy director of the Capital Library of China.
Photo shows the Beijing library under the night sky. (Photo/Fan Jiashan)
Readers visit the Metaverse Experience Hall of the Beijing Library. (Photo/Fan Jiashan)
A reader interacts with the digital Lu Xun at the Metaverse Experience Hall of the Beijing Library. (Photo from Beijing Youth Daily)
Technology enhances immersive reading experience in Beijing
News
Rights Groups Condemn Demolition of Makoko, Call for Immediate Halt
Rights Groups Condemn Demolition of Makoko, Call for Immediate Halt
By: Michael Mike
A coalition of national and international human rights, environmental, and social justice organisations has condemned what they describe as the “violent and unlawful” demolition of Makoko, a historic waterfront fishing community along the Lagos Lagoon.
In a joint statement released, the groups alleged that demolition activities began on January 5, 2026, and have continued despite outcry from residents and civil society actors.
According to the organisations, government-backed demolition teams have destroyed homes, schools, health facilities, and religious buildings, leaving hundreds of families without shelter.
Eyewitness accounts cited in the statement claim that security personnel accompanying the demolition teams used tear gas and excessive force against residents, including women, children, and elderly persons. Displaced families are reportedly sleeping in boats, churches, and open spaces along the lagoon as they struggle to find temporary refuge.
The coalition further noted that Makoko is not an isolated case. Over the past year, thousands of residents across several Lagos waterfront and informal communities—including Oko-Baba, Ayetoro, Otumara, Baba-Ijora, Oworonshoki, and Precious Seeds—have faced similar evictions. In many cases, demolitions were carried out without prior notice, consultation, or resettlement plans.
The groups also referenced past demolitions in Badia East, Otodo-Gbame, Maroko, Monkey Village, Ilaje-Bariga, and Ifelodun, saying the Lagos State Government has repeatedly ignored court orders restraining such actions. They alleged that several deaths have been linked to forced evictions over the years.
“The pattern reflects a systemic disregard for human rights, due process, and the rule of law,” the statement read. “These actions violate Nigeria’s constitution and international human rights obligations while deepening Lagos’s housing crisis.”
The coalition called on the Lagos State Government to immediately suspend all ongoing demolitions, respect existing court injunctions, investigate allegations of abuse, and provide fair compensation and adequate resettlement for affected residents.
They also urged authorities to adopt more inclusive, rights-based, and environmentally sustainable urban planning that protects livelihoods rather than displacing vulnerable communities.
The statement was signed by 23 organisations, including Health of Mother Earth Foundation (HOMEF), Corporate Accountability and Public Participation Africa (CAPPA), Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN), Policy Alert, WoMin African Alliance, and Norway’s Rafto Foundation for Human Rights, among others.
As of press time, the Lagos State Government had not issued an official response to the allegations.
Rights Groups Condemn Demolition of Makoko, Call for Immediate Halt
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