News
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
Troops Neutralise Suspected Boko Haram Fighter, Recover Logistics Items in Adamawa
By: Zagazola Makama
Troops of Operation HADIN KAI in collaboration with local vigilantes and Civilian Joint Task Force (CJTF), have neutralised a suspected Boko Haram fighter and recovered logistics items during an ambush at Gwadale deserted village along the Ngoshe–Kirawa road in Adamawa State.
Sources said that at about 12:50 a.m. on Thursday, troops engaged a confirmed number of suspected terrorists who were conveying logistics items.
The troops opened fire with a high volume of rounds, resulting in the neutralisation of one terrorist, while others reportedly fled in disarray with possible gunshot wounds.
Following the engagement, troops conducted exploitation of the general area and recovered one carton of Klin detergent and a bag of salt. The troops returned to their forward operating base at Pulka at about 2:30 a.m. same day.
Officials said the operation illustrated ongoing efforts to disrupt Boko Haram’s supply lines and restore security in the affected axis.
Troops Neutralise Suspected Boko Haram Fighter, Recover Logistics Items in Adamawa
Suspected Boko Haram Logistics Supplier Arrested in Hong LGA
By: Zagazola Makama
The Nigerian Army troops have arrested a suspected Boko Haram logistics supplier, Ismail Muhammed, 28, in the Visik General area of Hong Local Government Area, Adamawa State.
Sources said the arrest was carried out on Thursday by the troops of 28 Task Force Brigade in collaboration with local vigilantes and hunters.
Items recovered from the suspect included one AK-47 magazine, one round of 7.62mm special ammunition, a jungle hat, 10 bags of salt, two cartons of spaghetti, two sachets of seasoning cubes, a sachet of tom-tom, and bitter kola.
The suspect is currently in custody for further investigation, authorities said, as operations continue to disrupt Boko Haram supply chains in the North-East region.
Suspected Boko Haram Logistics Supplier Arrested in Hong LGA
Attack on BIR Post in Bargaram Leaves One Soldier Dead, Five Wounded
By: Zagazola Makama
At least one soldier was killed and five others wounded during a night attack on a Battalion of the Rapid Intervention Brigade (BIR) post along the Cameroon-Nigeria border in Bargaram.
Zagazola learnt that the incident occurred between the night of Feb. 18 and the early hours of Feb. 19 at approximately 01:00 a.m., when armed assailants launched an assault on the military installation.
The attack resulted in the death of Private Second Class WAKOM Spkassa Barthélémy (Service No. T2024/53715), while five soldiers sustained injuries, including one reported in critical condition.
Security forces reportedly engaged the attackers, neutralizing five terrorists and recovering a significant cache of weapons and ammunition. Items seized include eight AK-47 rifles, a PKM machine gun, one anti-personnel rocket, two anti-tank rockets, a grenade launcher, 11 AK-47 magazine boxes, 242 rounds of 7.62 x 54 mm ammunition, 121 rounds of 7.62 x 39 mm ammunition, a motorcycle, and a camera.
The wounded soldiers were evacuated to the District Hospital of Mada for medical treatment, while the body of the fallen soldier was transferred to the mortuary of the Regional Hospital of Maroua.
Authorities have been urged intensified security measures along the border region to prevent further attacks and maintain operational readiness.
Attack on BIR Post in Bargaram Leaves One Soldier Dead, Five Wounded
Troops Neutralise Suspected Boko Haram Fighter, Recover Logistics Items in Adamawa
Nigerian Navy Chief of Operations, Rear Admiral Musa Katagum, dies after illness
Army Arrests Boko Haram Drone Supplier, Neutralises Top Commander in Madagali, Adamawa
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