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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
NGX boss restates commitment to gender equality
NGX boss restates commitment to gender equality
The Group Chairman Nigerian Exchange Group, Dr. Umaru Kwairanga has restated the NGX’s commitment to gender equality and diversity at all levels of the organisation.
Kwairanga stated this in Lagos on Tuesday while delivering his welcome address on the occasion of the closing ceremony in honour of the Honourable Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim, who visited the floor of the Nigerian Exchange.
He stated that the Nigerian Exchange Group as an organisation remained committed to inclusiveness that drive growth and development at all levels of the NGX’s dealings.
He stated that through such inclusive representation, the NGX has achieved near parity at the board levels of the organisation and was working to improve the representation of female employees down the line.
“As an institution committed to sustainable growth and practices, we recognise the important qualities and values that women bring to the workplace and know that they perform just as well, if not better than men.
“It is a tradition in finance and investment that can be traced to the origins of the banking, finance and investment professions when most of the trade guilds that evolved into those professions were largely composed of men.
“The tradition has persisted for hundreds of years but despite that nomenclature, let me assure you that the investment and securities sector is very welcoming to and open to city gentlemen who are female.
“Women are very well represented at all levels of our industry and I can confide in you that the next President of the Chartered Institute of Stockbrokers is going to be a woman,” he said.
Kwairanga stated that the NGX would partner with the Ministry to accelerate progress for women’s rights and improve the lot of female gender across the country.
He commended Sulaiman-Ibrahim for her several bold and innovative initiatives that would have positive impact on women and the country as a whole.
NGX boss restates commitment to gender equality
News
Benue troops neutralize one terrorist, arrest four suspects in Gwer West LGA
Benue troops neutralize one terrorist, arrest four suspects in Gwer West LGA
By: Zagazola Makama
Troops of Sector 1 Operation Wirld Stroke deployed at FOB Bilawa-Jor conducted a fighting patrol within Mbapa and Mbabuande general areas on March 23, 2026.
During the operation, troops made contact with terrorists, neutralizing one suspect while others fled.
Following a pursuit, four additional suspects were apprehended and are currently in the custody of security forces for further investigation and prosecution.
In a similar development the troops
recovered a vehicle carrying two cows abandoned by suspected cattle rustlers in Uhemba.
The incident occurred at about 0348hrs on March 24, 2026, when the troops responded to intelligence reports of rustling activities in the area.
Upon the arrival of troops, the suspects fled, leaving behind the vehicle and livestock.
The recovered vehicle and cows are now in the custody of the troops for further investigation and legal action.
Military continue to urge the public to provide timely information on criminal activities to support ongoing security efforts.
Benue troops neutralize one terrorist, arrest four suspects in Gwer West LGA
News
Kogi troops neutralize suspected terrorist in Kabba/Bunu LGA
Kogi troops neutralize suspected terrorist in Kabba/Bunu LGA
By: Zagazola Makama
Troops of 12 Brigade have neutralized a suspected terrorist during a fighting patrol at Odoape–Adankolo Forest in Kabba/Bunu LGA.
The encounter occurred at about 1400hrs on March 23, 2026, when the patrol team made contact with the fleeing suspect.
Preliminary investigation identified the neutralized individual as a notorious terrorist involved in providing intelligence and targets for kidnappings, as well as participating in cattle rustling and supplying logs to terrorist groups.
The military has reaffirmed its commitment to sustaining aggressive patrols and intelligence-led operations to curb criminal activities and protect residents in the area.
Kogi troops neutralize suspected terrorist in Kabba/Bunu LGA
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