The Secretary to the state government, Alhaji Olalekan Alli reiterated this while delivering the message of the state governor, Senator Abiola Ajimobi to the delegates of Benin Republic led by the Chief of Staff to the President of Benin Republic, William Comlan held at Agodi state Secretariat Ibadan.

Alli told the delegates from Benin Republic that since inception of this administration in 2011 priority has been given to lives and property of the people in the state.

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His words, “it is apt to say that the collaboration of Nigeria and Benin Republic has became imperative given the complex problems of trans human and the need to checkmate the activities of herdsmen in West Africa.

He noted that the movement of livestock from one grazing ground to another in a season cycle, typically to lowlands in dry season and highlands in rainy season had led to vices such as kidnapping, banditry and destruction of farmlands by herdsmen which cause frosty relationship between border communities.

“Although, the Economic Community of West African States (ECOWAS) and Nigerian Government are spearheading the problems associated with trans human and its attendant security concerns in the sub- region, our government continues to adopt various methods of managing farmers/herdsmen crisis in the state”, the APC guber hopeful, Alli added.

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The leader of the delegation, William Comlan who is the Chief of Staff to the President of Benin Republic appreciated the Oyo state government for making the state comfortable for Benin citizens and ensure smooth relationship between Benin Republic and Oyo state.

The visit, according to William Comlan is in respect of Management of Cross border trans human between Nigeria and Benin Republic.

He explained that the government of Benin Republic will collaborate with the state government at curbing some of the challenges facing the Oyo state through borders and strengthen bilateral relationship between them.

Shortly after the courtesy visit, the team later moved to Western Hall of the Oyo State House of Assembly complex to hold stakeholders meeting with leaders of the borders community.

At the stakeholders meeting, issues affecting the borders’ communities were extensively discussed with delegation from Benin Republic and representative of the Oyo state government.

Oyo state shares international boundary with Benin Republic in Atisbo, Iwajowa and Saki West Local Governments with Okerete Ayegun Wasinmi and Aba wule as the closest communities to the international boundary.

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Buhari was elected to the position on Tuesday during the 53rd session of the Authority of Heads of State and Government of ECOWAS in Lome, the Togolese capital.

According to a statement by the Special Assistant to the President on Media and Publicity, Mr Garba Shehu, although the President did not put himself up for the post, he promised to work to take ECOWAS “to greater heights”.

“I am truly humbled and pledge to serve and work with all of you to deliver on peace, security, good governance and socio-economic development of the sub-region,” he said.

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President Buhari commended his predecessor and President of Togo, Faure Gnassingbe, for successfully hosting two important meetings of the Joint Economic Community of Central African States (ECCAS) and ECOWAS as well as the 53rd Ordinary Session of the Authority of Heads of State and Government of ECOWAS.

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The Development Bank of Nigeria has been created by the Federal Government of Nigeria to address financing challenges hindering private sector investment in the country. The Bank is called to play an important and catalytic role in providing funding and risk sharing facilities to micro, small and medium enterprises as well as small corporates.

“The Development Bank of Nigeria will overcome the funding gap in the micro-, small- and medium-scale enterprises space and help businesses unlock opportunities across Nigeria. DBN’s ambition is strengthened by the financial and technical support of international partners, including the European Investment Bank and African Development Bank. The new institution builds on international experience and uses a business model that has demonstrated proven success to enhance private-sector investment across Africa and around the world where other financing options are inadequate or absent,” said Tony Okpanachi, Managing Director of the Development Bank of Nigeria.

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“Private sector businesses are critical to the development of the Nigerian economy as they possess huge potential for employment generation and output diversification. Nevertheless, there has been under-performance of these businesses and this has undermined their contribution to economic growth. Among the issues affecting their performance, the shortage of finance, particularly investment finance, occupies a very central position. The Development Bank of Nigeria is expected to contribute to mobilizing significant long-term financing to an important yet underserved sector with high development potential,” said Stefan Nalletamby, Director of the Financial Sector Development Department at the African Development Bank.

“New private sector investment is crucial to create jobs and enable business to expand and limited access to long-term financing holds back economic growth. The European Investment Bank is pleased to support the new Development Bank of Nigeria to strengthen private-sector investment in Africa’s largest economy. We look forward to continued close cooperation with Nigerian and international partners to ensure that once fully operational the new Development Bank of Nigeria can help harness the country’s economic potential,” said Ambroise Fayolle, Vice-President of the European Investment Bank (EIB).

“The European Union is committed to supporting private-sector investment in Nigeria. The new backing for the Development Bank of Nigeria by both the European Investment Bank, the bank of the European Union and the African Development Bank, with 13 EU member state shareholders, will make a clear contribution to tackling the lack of access to credit by entrepreneurs and businesses across the country. With more investment, we hope to promote a vibrant economy and stimulate growth, employment and increase opportunities, especially for youth,” said Ambassador Ketil Karlsen, Head of the European Union Delegation to Nigeria and the Economic Community of West African States (ECOWAS).

Addressing the investment gap holding back private-sector investment

At present, new investment essential for companies to expand and create jobs is hindered by limited access to commercial banks. It is estimated by the Development Bank of Nigeria that only 5% of the 37 million entrepreneurs and small businesses in Nigeria that contribute to 50% of GDP can access credit in the financial system.

Building on broad international support

Other international financial institutions including the World Bank, Germany’s KfW and the French Agence française de développement (AFD) will also support the new bank alongside backing from the Federal Government of Nigeria.

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PROTOCOL

I am delighted to be here today, to celebrate with the African Development Bank the commissioning of its Nigeria Country Office Complex. This building here in Abuja is, among other things, an important symbol of the special relationship between the AfDB and Nigeria – a founding member and the largest shareholder of the Bank from inception to date. And since 1971, the Nigeria Country Office has served as an important convening point between the Bank, the Federal and State Governments, and the private sector.

Nigeria has been important in the growth of the institution as a major shareholder, donor and borrower all at the same time. And we have through the years shared the bank’s vision and objectives. Just to underscore the love between the AFDB and Nigeria, as the President aptly described it as a marriage, we have loaned our own Dr. Akinwunmi Adesina to the bank, as he is to our great pride, Nigeria’s first President of the Bank.

Since its founding in 1964, the African Development Bank, has evolved into one of the most efficient vehicles for the economic development and integration of the African continent. The bank has faithfully played its role as a trusted advisor and an honest broker in our region. And has earned its place as the voice of Africa on development issues.

As the continent’s premier financial institution, it is at the center of Africa’s transformation to bring real and lasting progress to the lives of African people.

While Africa has made significant strides in economic growth and in poverty reduction, much remains to be done. The goal is clear – to eradicate poverty, create more inclusive socio-economic development and to integrate the continent.

To do so, the continent needs to promote growth that creates jobs and provides economic opportunities for all.

To contribute to this agenda, the African Development Bank, through the High-5s – unveiled by Dr. Adesina when he took office in 2015 – is in our view, right on track by investing more in infrastructure, agriculture, education, healthcare, and increased access to, in particular, affordable energy and water.

More importantly, the Bank is to be commended for its ongoing efforts to close the gender gap, empower women and youths, and to ultimately strengthen and expand social safety nets for our most vulnerable populations.

With its large market of over 185 million people, Nigeria will continue to be an important player in the Bank’s work, advancing efforts to boost regional integration within the Economic Community of West African States (ECOWAS) in particular and Africa as a whole.

We will continue to be a strong and committed partner of the African Development Bank, and to lead by example. We have already clearly demonstrated through the partnership that led to the establishment of the Bank’s Nigeria Trust Fund, established in 1976. The Trust Fund of more than $500 million has helped to transform the economies and improve the living standards of millions of people in other African countries.

In Nigeria, the AfDB has an active portfolio of close to $6 billion dollars spread over 73 projects across public and private sectors of the Nigerian economy. These projects continue to create thousands of direct and indirect jobs in many parts of our economy.

I am particularly delighted that the Bank is working closely with this administration in addressing the challenges faced by communities and people emerging from the insurgency in the North East and some of the militancy in the Niger Delta Region.

The Bank’s Inclusive Basic Service Delivery and Livelihood Empowerment Integrated Programme (IBSDLEIP), aimed at addressing the challenges in the North East in particular, is commendable. The project will support the youth, women and IDPs who have returned to their communities. An estimated population of more than 10 million affected people are expected to directly benefit from this project.

More specifically, I thank the President and Board of Directors of the African Development Bank, for their support to Nigeria at a very difficult time during the 2015/16 economic recession. When we requested support from the Bank, the response was swift. The Bank approved a budget support loan of $1 billion in November 2016. The first tranche of $600m has been fully disbursed and utilized and in my discussions with the President of the Bank, we will be getting the remainder in the form of sector loans, so we are looking forward to the remaining $400m.

The approval by AfDB sent a much-needed positive signals to the markets at a critical time for Nigeria and for this we will ever remain ever grateful.

Your Excellencies, Distinguished Ladies and Gentlemen, as we celebrate the commissioning of this world-class edifice, I wish to reiterate the commitment of the Buhari Administration to the Bank’s strategy in Nigeria. The strategy is fully aligned with our own Economic Recovery and Growth Plan 2018 – 2020.

Again, congratulations to the President of the AfDB, Dr Akinwunmi Adesina, the Board of Directors, and the staff of African Development Bank, and all who made this edifice a reality.

I want to thank you for listening and in the next few minutes, we will be commissioning the AfDB new complex.

The post Osinbajo: How Federal Government, AfDB are Working Together to Reduce Poverty, Create Jobs and Overcome Fallouts of Insurgency first appeared on MegaIcon Magazine.

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In honor of President Ellen Johnson Sirleaf’s two terms in office, and Liberia’s friendship with the State of Israel, Energiya Global and our international partners will finance and build a commercial-scale solar field at the Roberts International Airport, which will supply 25% of the country’s generation capacity,” says Yosef I. Abramowitz, CEO.  “We are prepared to finance and build the first National Demonstration Solar Projects in all ECOWAS-affiliated countries in order to promote political stability and social and economic development, as well as to advance knowledge transfer.”

Energiya Global and its associated companies developed the first commercial scale solar field in sub-Sahara Africa in Rwanda, which is supplying 6% of the country’s power, and the group broke ground on a similar power plant in Burundi, which will supply 15% of the country’s power by the end of the year.  The solar group has fields at various stages of development in ten African countries and expects to announce its full program at the Israel-Africa Summit in Togo at the end of October.

In an historic first, Israeli Prime Minister Binyamin Netanyahu is scheduled today to address the 15 West African heads of state of ECOWAS (the Economic Community of West African States), as well as the head of the African Union.   “Israel is coming back to Africa,” the Prime Minister will announce, and will outline the technological innovations in agriculture, water, green energy and more that can support economic development in West Africa.

With 600 million Africans without electricity, the State of Israel can literally help African heads of state bring power to the African people

The $20 million investment comes as Israel and ECOWAS sign Sunday an historic Memorandum of Understanding to promote investments, technology and cooperation.

“With 600 million Africans without electricity, the State of Israel can literally help African heads of state bring power to the African people,” says Member of Knesset Avraham Neguise, chairman of the Israel-Africa Caucus of the Israeli Parliament, who accompanied the Prime Minister.   “Our humanitarian and diplomatic goals are supported by the private sector as well, which can work quickly and efficiently to improve the lives of millions of people.  I want to thank my friend Yosef Abramowitz for his investments in solar in Africa.  We look forward to working with ECOWAS to deploy $1 billion over the next four years, starting with this first investment of $20 million in Liberia by Energiya Global.”

A working session between ECOWAS, representatives of the State of Israel and Abramowitz will take place Monday morning in Monrovia, to plan for the deployment of the green energy investments in fulfillment of the MOU signed by Prime Minister Netanyahu and the President of ECOWAS.

U.S. Power Africa Coordinator Andrew Herscowitz underlined the importance of Energiya Global’s work by saying, “As a founding Power Africa partner, Energiya Global continues to demonstrate its industry leadership with this important investment in Liberia.  Increasing access and power generation is the foundation for economic prosperity and human development.  We look forward to Energiya Global’s transformative impact on the lives of the Liberian people.”

“We are proud to be involved in the creation of cutting-edge, clean energy for Liberia,” says Remy Reinstein, Energiya Global’s country director. “We are honored to have the seal of approval from President Johnson Sirleaf of Liberia and Prime Minister Netanyahu of Israel, whose initiatives have made the sustainable development of Liberia possible.”

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