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The Alternative Bank signs multi-sector development deal with Niger State

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Photo caption:L-R: Baba Mohammed, Head, Government Affairs, The Alternative Bank; Garba Mohammed, Executive Director, The Alternative Bank; Mohammed Umar Bago, Governor Niger State; Mustapha Ndajiwo, Commissioner, Budget and Planning; Usman Abdullahi, Chief of Staff and Aminu Takuma, Commissioner Industry, Trade and Investment during the signing of multi- sector deal with the Niger State Government to boost the development of agriculture, transportation, energy and infrastructural sectors in the state recently.

The Alternative Bank, an Africa-focused non-interest bank, has signed a multiyear deal with the Niger State government to boost the development of agriculture, transportation, energy, and infrastructural sectors in the state. Mohammed Bago, Governor of Niger State who signed the Memorandum of Understanding, alongside Garba Mohammed, executive director at The Alternative Bank, said the objective of the deal is to maximise the agricultural potential of the state. Governor Bago expressed delight with the financial institution’s readiness to partner with the state for maximum agricultural potential. He said the state plans to lease earth-moving equipment like caterpillars, bulldozers, pale loaders, and graders to prepare 4.5 million hectares of cultivable land over the next 10 years. The deal with The Alternative Bank provides the State Government with numerous developmental prospects including deploying solar-powered kiosks across various locations in the state for basic healthcare delivery and community convergence. The deal also encourages investing in agriculture to bolster the agro-economy value chain, aiming at food security and export enhancement. Another benefit of the deal is fast-tracking the shift to sustainable electric transportation in Niger State, empowering people and reducing environmental harm from fossil fuel use (PMS/AGO). It would also bridge banking service gaps in underserved areas, ensuring comprehensive financial service access and economic integration for all residents of the state. The deal will introduce a digital platform mirroring the physical setup, infrastructure, and operational model of the state’s tertiary institutions. Finally, it will bring focus to the drug supply chain and expedite health insurance to widen healthcare access in the state. Garba Mohammed, Executive Director of Alternative Finance said there are million-dollar opportunities from the deal. He noted that an international partner is willing to invest $65 million in a sugarcane plantation, creating job opportunities and generating electricity and other products. Another development partner from the UAE is ready to invest between $1 and $10 million for exporting the Alfalfa plant, requiring 100,000 hectares for cultivation. Mohammed has also advised the state government to obtain Ijarah Sukuk from the capital market for 5 to 7 years, to reduce costs and ensure a return on investment without a substantial upfront cost from the state. About The Alternative BankThe Alternative Bank is the non-interest arm of Sterling Financial Holding Company. Licensed to operate as a commercial entity in 2023, the bank boasts of various product offerings and solutions such as Alt Mall, Alt Drive, and Alt Power, amongst other various diverse and innovative solutions. 

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Kwara Gov congratulates Segun Adebayo on NALDA appointment, thanks President Tinubu

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Kwara State Governor AbdulRahman AbdulRazaq congratulates Mr. Cornelius Oluwasegun Adebayo on his appointment as Executive Secretary/Chief Executive Officer of the National Agricultural Land Development Authority (NALDA).

The Governor commends President Bola Tinubu for again considering a Kwaran for another top appointment.

Governor AbdulRazaq is upbeat that the appointee will deliver beyond expectations, justify the confidence reposed in him by Mr. President, and make the state proud as he joins the Renewed Hope Agenda’s team.

The Governor prays Almighty God to guide the new NALDA chief and give him outstanding success in the new role to the glory of God and the benefit of the whole country.

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Kwara Gov commiserates with Plateau over school building collapse, deaths

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Kwara State Governor AbdulRahman AbdulRazaq sends his sincere condolences to the people and Government of Plateau State on the unfortunate collapse of a school building in the state capital Jos and the resulting deaths of many schoolchildren and teachers.

The Governor says the incident is sad and devastating, specifically commiserating with Governor Caleb Mutfwang and the families of the victims.

The Governor commends the state government and all the emergency responders for the swift response to the incident.

He asks God to repose the souls of the victims, and wishes safe and quick recovery for those who were injured in the school building collapse.

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Lagos Lawmakers Invite Attorney-General Over Supreme Court Judgement On LGs

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  • commend Police for successful operation against kidnappers
  • applaud First Lady Remi Tinubu for encouraging gardens

The Lagos State House of Assembly has invited the Attorney-General of the State, Mr. Lawal Pedro, to appear before it to explain the Supreme Court judgement on local governments in the country.

The lawmakers said there was a need for better understanding of the decision of the apex court in relation to some provisions in the Constitution of the country.

A seven-man panel of the Supreme Court had declared on Thursday that the 774 local government councils in the country should receive their funds directly from the Federal Government as well as manage such funds themselves being a tier of government.

The court further declared that allocations to local government councils run by caretaker committees were illegal.

Ruling after a voice vote by lawmakers at plenary on Thursday, the Speaker of the Assembly, Rt. Hon. Mudashiru Obasa, ruled: “There is a need for us to seek clarification and understanding of this judgement. It will be good to invite the Attorney-General to brief us and give his understanding so that we do not run foul of the judgement.”

Meanwhile, the Lagos State House of Assembly has resolved to write a letter of commendation to the Inspector-General of Police, Kayode Egbetokun, over the successful operation by men of the force that led to the elimination of nine kidnappers in the state recently.

A letter of commendation is also to be sent to the Commissioner of Police in Lagos State, Adegoke Mustapha Fayoade, for the efforts of the policemen which led to the fruitful operation.

Speaker Mudashiru Obasa, who presided over the plenary, said the police and men of the force who took part in the operation needed to be commended.

Dr. Obasa agreed with members of the House that letters be sent to Egbetokun and Fayoade further charging them not to relent in keeping the State safe for residents.

He stressed the need for stakeholders to fast-track considerations for the creation of state police to support the federal police system.

The Majority Leader of the House, Hon. Noheem Adams, had earlier recalled how the police launched the operation against some kidnappers in the Ladipo area of the state and eliminated nine of them.

According to him, there has been calm in the area since the operation was carried out.

Noheem added that the Ikorodu area of the state which hitherto had issues of kidnapping now enjoys relative peace.

In another development, the House of Assembly has applauded the First Lady of Nigeria, Senator Oluremi Tinubu, for seeking to encourage subsistence agriculture.

The Speaker said it was a beautiful idea to encourage Nigerians to have gardens in their houses arguing that this would help to create food sufficiency.

He recalled that schools had farms in the past adding that current situations call for a return to that period.

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