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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
One Rescued, Bandit Killed as troops Repel Attack in Zamfara
By Zagazola Makama
The troops of Operation FANSAN YANMA have rescued one kidnapped victim and neutralised a suspected armed bandit following an attack on Dankabali Village in Talata Mafara Local Government Area of Zamfara State.
Security sources said the incident occurred at about 3:00 a.m. on April 30 when about 20 armed bandits on 10 motorcycles invaded the community in Kagara District and abducted four residents.
The sources disclosed that the abducted persons were identified as Ladan Mani Sarkin Diya, Halima Mani, Rabiatu Muhammad, and Karima Muhammad.
According to the sources, the troops under Operation Fansar Yamma and the police joint tactical team was mobilised immediately after receiving the distress call and commenced search-and-rescue operations.
They added that during a combing operation in a nearby forest, the joint forces made contact with the bandits, leading to an exchange of fire in which one bandit was neutralised.
The sources further said one of the abducted victims, Ladan Mani Sarkin Diya, was successfully rescued unharmed, taken to the General Hospital in Talata Mafara for medical examination, and later reunited with his family.
They noted that ongoing operations are aimed at rescuing the remaining three victims and apprehending the fleeing suspects.
Security presence has since been reinforced in the Dankabali axis, while surveillance and patrols have been intensified to prevent further attacks.
One Rescued, Bandit Killed as troops Repel Attack in Zamfara
Troops Foil Bandits’ Attack, Recover 27 Rustled Animals in Sokoto
By Zagazola Makama
The troops of Operation FANSAN YANMA have foiled an attempted attack by suspected Lakurawa bandits and recovered 27 rustled animals in Silame Local Government Area of Sokoto State.
Security sources said the incident occurred at about 8:00 p.m. on May 1 when a large number of armed bandits invaded Gumki and Zeringo-Gande villages, firing sporadically and rustling domestic animals.
The sources disclosed that upon receiving the distress the troops swiftly mobilised and blocked routes leading to the bandits’ camp in Zamori forest.
According to the sources, the troops engaged the attackers in a gun duel, overpowering them and forcing their retreat toward the Niger Republic border.
They added that all 27 rustled animals were successfully recovered and would be returned to their rightful owners.
The sources further confirmed that no casualties or injuries were recorded among security personnel during the operation.
Security presence has since been reinforced in the area, with continuous patrols to prevent further incursions.
Troops Foil Bandits’ Attack, Recover 27 Rustled Animals in Sokoto
Teenager Dies After Fight with Neighbour in Yobe Community
By Zagazola Makama
A 14-year-old boy, Musa Umar, has died following a violent altercation with a neighbour in Jama’are village via Fika in Yobe State.
Security sources said the incident occurred on April 30 at about 10:00 p.m. when Musa engaged in a fight with another minor, Adamu Yusuf, 12, during which he was struck on the head with a stick.
The sources disclosed that the injured boy was initially rushed to Gadaka General Hospital for treatment before being referred to Fika General Hospital due to the severity of his condition.
According to the sources, Musa died on the way to the referral hospital and was later certified dead by a medical doctor.
They added that the body was documented and released to the family for burial following necessary procedures.
The sources further said efforts are ongoing to apprehend the suspect, while investigations have commenced to determine the circumstances surrounding the incident.
Teenager Dies After Fight with Neighbour in Yobe Community
One Rescued, Bandit Killed as troops Repel Attack in Zamfara
One Killed, Two Injured in Communal Clash in Niger
Troops Foil Bandits’ Attack, Recover 27 Rustled Animals in Sokoto
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