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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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Bandits kill two, abduct woman in Chikun, Kaduna

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Bandits kill two, abduct woman in Chikun, Kaduna

By: Zagazola Makama

Suspected bandits have killed two persons, injured one and abducted a woman during an attack on Rimi Kamazo community in Chikun Local Government Area of Kaduna State.

Zagazola report that the incident occurred on Dec. 28 at about 11:50 a.m. when an unspecified number of armed bandits invaded the community, firing sporadically and causing panic among residents.

Victims of the attack were identified as Zainab Amos Bagoro, 55, and Aminu Amos Bagoro, 25, who were shot and fatally injured. Another victim, Gayus Amos Bagoro, sustained gunshot injuries and is currently receiving treatment.

The attackers also abducted Justina Abednego, 25, and took her to an unknown destination.

Sources said security operatives received information about the attack at about 2:00 a.m. on Dec. 29 and immediately mobilised to the area in collaboration with other security agencies.

The injured victims were rushed to hospital for medical attention, where the two critically injured persons were confirmed dead, while the surviving victim is receiving treatment at St. Gerald Hospital, Kakuri, Kaduna.

The corpses of the deceased were deposited at the hospital morgue for autopsy.

Security forces have intensified efforts to rescue the abducted woman and track down the perpetrators, while investigations into the incident have commenced.

Bandits kill two, abduct woman in Chikun, Kaduna

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Mob sets NSCDC office ablaze, kills three suspects in Kano

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Mob sets NSCDC office ablaze, kills three suspects in Kano

By: Zagazola Makama

Atleast three suspected motorcycle thieves were killed by a mob while the office of the Nigeria Security and Civil Defence Corps (NSCDC) was raised in Dawakin Kudu Local Government Area of the state.

Zagazola Makama learnt that the incident occurred at about 9:00 p.m. on Dec. 28 at the Danmaje Quarters Divisional Office of the NSCDC in Dawakin Kudu.

According to sources , personnel of the NSCDC attached to the office had earlier arrested three suspects over alleged motorcycle theft.

The source said that following the arrest, angry youths armed with dangerous weapons mobilised in large numbers and stormed the NSCDC office, demanding that the suspects be released to them for lynching.

“They overpowered the NSCDC personnel, chased them out of the office and set both the office and the suspects ablaze,” the source said.

Sources said the scene was later visited by security operatives, while the victims were rushed to the Aminu Kano Teaching Hospital, where they were certified dead by medical personnel.

The corpses were subsequently deposited at the hospital’s morgue.

Mob sets NSCDC office ablaze, kills three suspects in Kano

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NESREA Shuts Sunseed Oil Facility in Zaria Over Air Pollution Violations

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NESREA Shuts Sunseed Oil Facility in Zaria Over Air Pollution Violations

By: Michael Mike

The National Environmental Standards and Regulations Enforcement Agency (NESREA) has ordered the closure of the Sunseed Oil processing plant in Zaria, Kaduna State, following findings of severe air pollution linked to the facility’s operations.

NESREA said the action was taken after investigations confirmed that the plant was emitting harmful pollutants into the atmosphere in breach of the National Environmental (Air Quality Control) Regulations.

The regulations require industries to install effective pollution control systems and adopt cleaner production methods to minimize environmental and health risks.

A statement by the agency’s spokesperson, Nwamaka Ejiofor on Tuesday, said the level of emissions from the Sunseed Oil facility posed a direct threat to the surrounding environment and residents in nearby communities, prompting immediate intervention to halt further damage.

She noted that the enforcement exercise reflects the agency’s resolve to ensure that industrial operators comply with environmental standards and to protect the public from the dangers associated with uncontrolled industrial emissions and effluents.

Commenting on the development, the Director-General of NESREA, Prof. Innocent Barikor, warned companies operating across the country to adhere strictly to national environmental laws.

He stressed that the agency would continue to take decisive action against facilities whose operations endanger public health or degrade the environment.

NESREA reiterated its commitment to regular monitoring and enforcement, noting that environmental protection remains a critical component of sustainable development in Nigeria.

NESREA Shuts Sunseed Oil Facility in Zaria Over Air Pollution Violations

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