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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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Military Airstrikes neutralized ISWAP Commanders, others in precision strike on Sambisa hideouts

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Military Airstrikes neutralized ISWAP Commanders, others in precision strike on Sambisa hideouts

By: Zagazola Makama

The Air Component of Operation Hadin Kai has neutralised two senior terrorist commanders, Saddam and Saleh Garin Kago, alongside other fighters, in a precision air interdiction (AI) mission at Yuwe in the Sambisa general area of Borno.

Sources who disclosed this to Zagazola said that the early morning strike also eliminated Hussaini Ubaida and Ba Alayi Benbem, while destroying identified terrorist command hideouts and logistics warehouses.

The sources said the mission was executed at about 6:08 a.m. on Friday following confirmatory Intelligence, Surveillance and Reconnaissance (ISR) on structures suspected to be terrorists’ commanders’ hideouts and storage facilities within the Yuwe axis.

“Upon confirmation of the targets, various military aircraft and platform, departed base to prosecute the mission. On reaching the objective area, the aircraft acquired and engaged the selected targets with precision-guided stores onboard,” he said.

The sources noted that post-strike battle damage assessment indicated that the identified command hubs and warehouses were effectively destroyed, significantly degrading the operational capacity of the terrorists in the Sambisa corridor.

According to the source, efforts were ongoing to confirm the identities of additional casualties resulting from the strike.

The military high command of Operation Hadin Kai has reaffirmed its commitment to sustain intelligence-driven operations aimed at dismantling terrorist leadership structures, disrupting supply chains and denying insurgents safe havens.

They stressed that the theartre command will continue to work in synergy with the Air component and other security agencies, to intensify its operations to consolidate recent gains and restore lasting peace in the North-East.

Military Airstrikes neutralized ISWAP Commanders, others in precision strike on Sambisa hideouts

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Four die, 18 injured in zakkat distribution stampede in Katsina

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Four die, 18 injured in zakkat distribution stampede in Katsina

By: Zagazola Makama

Four persons have died while 18 others sustained injuries following a stampede during the distribution of annual Ramadan Zakkat (alms) at a residence in Katsina metropolis.

Sources told Zagazola that the incident occurred at about 9:00 p.m. on Feb. 26 at the residence of Alhaji Dahiru Usman Sarki, located in Kofar Guga Quarters.

According to the sources, a large crowd had gathered at the residence to receive Ramadan alms when some individuals allegedly forced their way into the compound, triggering a stampede.

The Divisional Police Officer (DPO), Central Police Station (CPS) Katsina, swiftly mobilised to the scene and was able to bring the situation under control.

As a result of the stampede, 18 persons sustained varying degrees of injuries and were rushed to the General Hospital, Katsina, for medical attention.

Four persons were later certified dead by a medical doctor. They were identified as Bilkisu Mamman, 40, of Kerau Quarters; Ihsan Musbahu, 40, of Abattoir Quarters; Aisha Sani, 16, of Kofar Sauri Quarters; and Salamatu Kabir, 45, of Sabuwar Unguwa Quarters.

Another victim, Hafsat Zubairu, 15, of Masanawa Quarters, was referred to the Federal Teaching Hospital for further medical evaluation.

Police authorities said the organisers of the Zakkat distribution had been invited for questioning, while investigation into the incident was ongoing.

Four die, 18 injured in zakkat distribution stampede in Katsina

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Troops neutralise terrorists’ structures, arrest two logistics suppliers in Sabon Garin Fishingo in Borno

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Troops neutralise terrorists’ structures, arrest two logistics suppliers in Sabon Garin Fishingo in Borno

By: Zagazola Makama

Troops of Operation Hadin Kai, Sector 2, have destroyed terrorist life-support structures and arrested two suspected Boko Haram logistics suppliers during clearance operations around Sabon Gari Fishingo in Borno State.

Security sources told Zagazola that the troops, in conjunction with quasi-security forces, conducted the operation at about 8:30 p.m. on Feb. 28.

The troops reportedly made contact with terrorists at Kayawa and engaged them with superior firepower, forcing the insurgents to flee in disarray.

The fleeing terrorists abandoned two motorcycles and five bicycles at the scene. No casualty was recorded among the troops.

Following the encounter, the troops set ablaze structures believed to be used as life-support bases by the terrorists.

The operation later extended to Sabon Gari Fishingo, where troops conducted a cordon-and-search exercise.

During the operation, two suspected Boko Haram logistics suppliers identified as Dahiru Haruna and Salele Lawali were arrested.

Items recovered from the suspects included a large quantity of drugs, medical consumables and one tricycle, popularly known as “Jega.”

Sources said the suspects were in custody for further investigation, while the recovered items were being documented.

The operation is part of sustained offensive actions under Operation Desert Sanity aimed at dismantling terrorist enclaves and disrupting their logistics networks in the North-East.

Troops neutralise terrorists’ structures, arrest two logistics suppliers in Sabon Garin Fishingo in Borno

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