FSDAi Injects £10m into Innovative Risk Sharing Facility in Partnership with InfraCredit
Advertisements…investment aimed at supporting Nigeria’s Sustainable Climate InfrastructureFSD Africa Investments (FSDAi), in collaboration with InfraCredit, have invested £10m into a first-of-its-kind risk-sharing backstop facility, designed to unlock local currency funding for sustainable infrastructure development in Nigeria. The Risk Sharing Backstop Facility (RSBF) will address the challenge of low credit enhancement by mobilising local institutional investment via bonds into viable early-stage or green-field climate-aligned infrastructure projects. By increasing the accessibility of finance for the “climate-aligned” infrastructure projects, the facility will help Nigeria accelerate her social and economic development, green economic transition as well as deliver on its climate goals. Backed by the UK International Development through the Foreign, Commonwealth and Development Office (FCDO), FSDAi is pleased to be undertaking this £10m investment in partnership with InfraCredit – an established player in the sustainable infrastructure financing space. This investment therefore aligns with one of FSD Africa’s primary objectives – developing capital markets by tackling blockages in the system.
Source:The Guardian
August 01, 2023 15:13 UTC
World - Junta-led Burkina and Mali warn against military intervention in Niger - Punch Newspaper
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Source:Punch
August 01, 2023 11:03 UTC
FULL TEXT: Tinubu’s address to Nigerians
TEXT OF THE NATIONAL BROADCAST BY PRESIDENT BOLA TINUBU TO NIGERIANS ON CURRENT ECONOMIC CHALLENGESAFTER DARKNESS COMES THE GLORIOUS DAWNMy fellow citizens,I want to talk to you about our economy. Such a vast sum of money would have been better spent on public transportation, healthcare, schools, housing and even national security. It diverted money that should have been used to create jobs, build factories and businesses for millions of people. With the fund, our states will become more competitive and on a stronger financial footing to deliver economic prosperity to Nigerians. Fellow Nigerians, this period may be hard on us and there is no doubt about it that it is tough on us.
Source:Nigerian Tribune
August 01, 2023 06:39 UTC
Reckitt Nigeria Announces N6.3 Million Funding for Local Social Entrepreneurs Addressing Water, Sanitation, and Hygiene Issues
Reckitt Nigeria has pledged a generous N6.3 million in seed funding to each local social entrepreneur who is working towards addressing the critical issues of water, sanitation, and hygiene (WASH) in communities. This realization has prompted Reckitt Nigeria to change the way it supports communities by fostering innovation through social entrepreneurship. Key Takeaway– Reckitt Nigeria has pledged N6.3 million in seed funding to local social entrepreneurs addressing water, sanitation, and hygiene challenges. – Social entrepreneurs participating in Reckitt’s accelerator program will receive tailored support, mentorship, and guidance, along with seed funding of N6.3 million. – The deadline for applications is August 7, 2023, providing local social entrepreneurs with an opportunity to contribute to the positive development of Nigeria.
Source:The Guardian
August 01, 2023 03:43 UTC
FG moves to combat food shortages using ATASP-1
The Federal government has emphasized that increased agricultural production cannot be achieved without guaranteed access to quality agricultural inputs such as fertilizers, seeds, pesticides, and collective collaboration of all stakeholders. The primary objective of NAGS-AP is to improve the production and productivity of staple food crops to mitigate the food insecurity situation in the nation. NAGS-AP is being implemented through the Agricultural Transformation Agenda Support Program Phase One (ATASP-1) funded by the African Development Bank (AfDB). The program has witnessed increased yield for cassava, rice, and sorghum, leading to substantial additions to the national food basket and increased revenue. Agriculture has always been the backbone of the nation’s economy, providing food security, employment, and livelihoods to millions of people.
Source:Nigerian Tribune
August 01, 2023 02:54 UTC
Renewed clashes in south Lebanon Palestinian camp | The Guardian Nigeria News - Nigeria and World News
Automatic weapons and anti-tank fire shook south Lebanon’s Ain al-Helweh Palestinian refugee camp on Monday, after fighting killed six people over the weekend, an AFP correspondent said. Limited skirmishes erupted again Sunday night, escalating into heavy clashes with gunfire and shelling on Monday, said the AFP correspondent in the southern city of Sidon, where the camp is located. “Things are supposed to go back to normal soon,” an official involved in the ceasefire negotiations told AFP, asking for anonymity because of the sensitivity of the matter. Fighting began overnight on Saturday, killing an Islamist and injuring six others, a Palestinian source inside the camp had told AFP, speaking on condition of anonymity for security reasons. By long-standing convention, the Lebanese army does not enter Palestinian refugee camps in the country, leaving the factions themselves to handle security.
Source:The Guardian
July 31, 2023 21:49 UTC
Tinubu appoints another spokesperson
President Bola Tinubu has appointed Ajuri Ngelale as his special adviser on media and publicity. Mr Ngelale was senior special assistant on public affairs in the office of the vice president in the immediate past administration of Muhammadu Buhari. He also was one of the spokespersons in the presidential campaign council of the All Progressives Congress in the 2023 general elections. “The President urges him to bring his wealth of experience to bear on the new assignment,” the statement noted. Mr Ngelale, with a background in broadcast media, worked at AIT and Channels TV before joining a presidential media team.
Source:The Guardian
July 31, 2023 21:33 UTC
Bola Tinubu: FG and Labour to Collaborate on Determining New Minimum Wage for Workers
In a recent statement reported by Naija247news, Bola Tinubu highlighted that the determination of a new minimum wage for workers in Nigeria will be a collaborative effort between the Federal Government and labour representatives. Thank you for reading this post, don't forget to subscribe! Tinubu emphasized the significance of a balanced approach in addressing the concerns of workers while also considering the economic implications on businesses and the overall financial stability of the nation. AdvertisementThe issue of a new minimum wage has been a subject of national importance, and the involvement of both the government and labour unions is crucial to reach a mutually agreeable decision. As the discussions continue, Naija247news will keep the public informed about any updates regarding the progress of determining the new minimum wage for workers in Nigeria.
Source:Punch
July 31, 2023 21:27 UTC
Global petrol price rises by 20%
Price of petrol may to rise further as international market data gathered by The PUNCH revealed that the commodity has gained 20 per cent. On the other hand, petrol prices started the year at less than $2.50 per gallon. Last week, it hit $2.90 per gallon, and analysts said it could reach $3 in the new week. In Nigeria, petrol price had risen from between N198/N200 per litre, to around N617 per litre since deregulation of the downstream sector by President Bola Tinubu on May 29. Due to lack of functional refineries, Nigeria still imports its petrol despite being an oil producing country.
Source:Punch
July 31, 2023 20:05 UTC
Pakistan suicide bombing death toll rises to 45
Pakistan officials have said the death toll in a suicide bombing at a political rally held by a religious party has risen to 45 on Monday. An official at a state-run rescue agency, Bilal Faizi, said the death toll had risen to 45. A police counter-terrorism wing investigating the blast suspected the Islamic State group was behind it, police said in a statement. Pakistan has seen a resurgence of attacks by Islamist militants since last year when a ceasefire between the Pakistani Taliban, the Tehreek-e-Taliban Pakistan (TTP), and the government broke down. A mosque bombing in Peshawar city in the northwest killed more than 100 people in January but attacks on political parties are rare.
Source:Nigerian Tribune
July 31, 2023 16:52 UTC
Oyo workers protest, lock state Secretariat, demand palliatives, others
The Oyo State workers, on Monday, locked the state secretariat in Ibadan to demand palliatives, upward review of pension allowances and payment of salary deduction. Speaking on their demands, Chairman, Oyo TUC, Mr Bosun Olabiyi said it was baffling that over six months deductions were still being withheld by the state government. Deductions that are supposed to go to cooperatives, housing, union dues, taken from workers’ salaries, have been withheld. “Pensioners in Oyo State are really suffering. Also, we have pensioners earning N350 per month so we want pension review.
Source:Nigerian Tribune
July 31, 2023 15:43 UTC
Unravelling Nigeria with injustice
This discourse reviews unequal enforcement of laws, disobedience to court orders and other foundational issues that bind a society together. Nigerians expected the President to quickly issue a statement disassociating the presidency of the Federal Republic of Nigeria from such a rascal and scoundrel. He presented the outright and disgraceful disobedience of a court order by the DSS as a case of two persons or institutions fighting. Injustice, disobedience to court orders, impunity and contempt for others will only lead Nigeria to underdevelopment, aggravated poverty and possible chaos. The leadership of the DSS should be told in very clear terms that Nigeria is not a jungle.
Source:Punch
July 31, 2023 15:24 UTC
Politics - JUST IN: National Assembly clears Wike for ministerial role - Punch Newspaper
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Source:Punch
July 31, 2023 14:58 UTC
Top 15 Nigerian Agricultural Seed Companies
Nigerian Agricultural Seed Companies – Agriculture plays a vital role in Nigeria’s economy, employing a significant portion of the population and contributing to the nation’s food security. Information Guide NigeriaIn this article, we will review the top 15 agricultural seed companies in Nigeria, exploring their key offerings, achievements, and contributions to the agricultural sector. Hurry Now click here to Apply >> Immigrate to CanadaRead Also: 15 Best Agricultural Businesses in NigeriaThe Top 15 Nigerian Agricultural Seed Companies Are:1. Nigerian Agricultural Seed Companies2. SeedCo Nigeria:As a multinational seed company, SeedCo Nigeria holds a prominent position in the Nigerian agricultural landscape.
Source:The Guardian
July 31, 2023 14:32 UTC