General
Afreximbank, EU Investment Bank to Finance €300m COVID-19 Response
By Adedapo Adesanya
The African Export-Import Bank (Afreximbank) and the European Investment Bank (EIB), the European Union’s lending arm, are directing €300 million to finance the flexibility and recovery support of African countries in response to the COVID-19 epidemic.
This was disclosed in a statement issued by Afreximbank on Wednesday, explaining that the money will guarantee companies across the continent the working capital to maintain jobs and maintain vital imports.
The support package is the first expedited COVID-19 response to the entire sub-Saharan region under the European Investment Bank’s European Team Initiative – a € 6.7 billion package, to help the most vulnerable and vulnerable countries respond to the immediate health crisis, mitigate social and economic impacts and build resilience for the future.
Support for sub-Saharan Africa is organized with Afreximbank in two parts, with the package reallocating €200 million of funds previously earmarked for trade-related investments, specifically channelled to sectors most affected by the epidemic.
Realizing the urgent need for support, Afreximbank and EIB are also pumping an additional €100 million into the package, according to the statement.
Giving reasons for this, it stated that the COVID-19 pandemic is having an unprecedented negative impact on African economies, just as it has on countries around the world as manufacturing in the global supply chains is disrupted.
It noted that remittances from migrants to some of the world’s poorest economies have dwindled, leaving the most vulnerable groups in those markets worsening the difficulties.
As a result, many African economies suffer from serious weaknesses including liquidity pressure, the risks of defaults in trade payments and financial challenges, as well as reductions in foreign direct investment, long-term financing, and portfolio flows.
Part of the support package will be targeted to enable cross-border trade in medical supplies and equipment needed to slow the spread of COVID-19.
In addition, the support package will provide financing for long-term investments in commercial expansion, helping both commodity availability and growth in the economic boom and will also support the member states participating in the African Bank, including part of the Cotonou Agreement in sub-Saharan Africa.
The statement pointed out that there are two main areas of focus in Africa on women in business and the green revolution. As a result, it will target part of the business package owned or run by women.
In addition, at least 25 per cent of the funds earmarked will be allocated in the partnership framework for green projects, such as renewable energy, energy efficiency and climate change adaptation measures.
Afreximbank also explained that part of the funds will support factory redesign to manufacture personal protective equipment and other materials, through the African Medical Supplies platform, a digital platform promoted by Centre for Disease Control (CDC) Africa, Afreximbank, United Nations Economic Commission for Africa (UNECA) and African Union Envoy, Mr Strive Masiyiwa.
Quoting Mr Benedict Urama, President of Afreximbank, “As continental neighbours, Europe and Africa must stand together against the global epidemic. The funding announced today is welcome not only because it meets an urgent need, but because it is being published quickly.
“With the combined expertise of Afreximbank and the European Investment Bank, support will quickly reach the most affected and will be carefully designed to have the greatest impact on post-epidemic recovery.
“Moreover, the package’s support for green projects will help push Africa towards a sustainable economy for the future and all the opportunities it presents,” according to the head of the African Export Bank.
On the part of the EIB, Vice President Ambroise Fyol added, “Once again, the European Investment Bank is strengthening our close cooperation with Afreximbank to open high impact investments by companies across Africa.
“A total of €300 million was saved as a direct result of the Fast Track and Global Response support from the European Investment Bank as part of the Europe team.”
He continued: “The European Investment Bank Board agreed to increase funding with existing partners to provide an immediate response quickly.
“This new financing will work with Afreximbank to open up medical investment and ensure that investment in climate action does not delay to reduce energy use and emissions.”
Under the 2018 agreement, EIB and Afreximbank have already pumped some of the €200 million previously earmarked for projects that now support African countries ’resilience to the epidemic.
These include programs to expand intra-African trade and export manufacturing in sectors with high employment rates, and both organizations aim to continue to focus on this proven approach to providing short-term relief and long-term resilience.
General
Tinubu Confirms Killing of Abu-Bilal Al-Manuki by Nigerian, US Forces
By Modupe Gbadeyanka
President Bola Tinubu on Saturday confirmed the killing of a senior ISIS leader, Mr Abu-Bilal Al-Manuki, in an overnight operation carried out by the United States and Nigeria.
President Donald Trump had earlier announced the elimination of the notorious terrorist via a post on his Truth Social.
Later, in a statement today, Mr Tinubu praised the action, describing it as “a significant example of effective collaboration in the fight against terrorism.”
“Our determined Nigerian Armed Forces, working closely with the Armed Forces of the United States, conducted a daring joint operation that dealt a heavy blow to the ranks of the Islamic State,” he said in the statement.
According to him, early assessments confirm the elimination of the wanted IS senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, along with several of his lieutenants, during a strike on his compound in the Lake Chad Basin.
He commended the partnership between Nigeria and America in waging war against terrorists, thanking his US counterpart “for his leadership and unwavering support in this effort.”
“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation,” the Nigerian leader added.
General
Nigeria Steps up AI Surveillance, Anti-Drone Systems for National Security
By Adedapo Adesanya
Nigeria is set to strengthen its defence architecture by deploying artificial intelligence-powered surveillance systems and advanced anti-drone technology as part of efforts to modernise the country’s military capabilities, according to the Minister of Defence, Mr Christopher Musa.
He disclosed this during a high-level visit to Monaco, where he led a Nigerian delegation to conclude discussions on the multi-domain Hybrid Intelligence Shield (HIS) project.
According to Mr Musa, the initiative is designed to enhance border security, protect urban centres and improve the country’s response to emerging security threats.
The project is expected to introduce AI-driven surveillance systems capable of identifying threats rapidly through smart algorithms, while anti-drone technology will be deployed to intercept and neutralise unmanned aerial threats.
The government also plans to establish national and regional command-and-control centres to improve real-time coordination and response to security incidents across the country.
Mr Musa said the initiative would place strong emphasis on technology transfer and local capacity development through the establishment of a military Centre of Excellence in Nigeria.
He added that the federal government would leverage partnerships with international firms, including Marss UK Ltd, while simultaneously building indigenous capabilities to address insurgency, illegal mining, piracy and other security threats.
Nigeria has continued to battle multiple security challenges in recent years, including insurgency in the North-East, banditry and kidnappings in the North-West, farmer-herder clashes in the North-Central region, crude oil theft in the Niger Delta and piracy in the Gulf of Guinea.
Nigeria is stepping up its defence as the border region of Nigeria, Benin and Niger on the southern edge of the Sahel region is becoming a new stronghold for jihadists, as militants turn forests and pastoral networks in West Africa into bases for recruitment and international attacks.
Attacks in Nigeria have also risen, with data from the website of the Armed Conflict Location & Event Data (ACLED), a conflict-monitoring group, affirming that the number of suicide bombings in Nigeria by March already matched the annual average over the past six years.
The Nigerian military has also been dealt a blow to its military bases and senior figures targeted. In April, Brigadier-General Oseni Omoh Braimah was killed when Islamist fighters attacked a base in Borno State.
To also meet the defence goal, Nigeria is stepping up efforts to build domestic arms-manufacturing capacity.
General
Nigeria, Morocco to Seal Atlantic Gas Pipeline Deal by Q4 2026
By Adedapo Adesanya
Nigeria and Morocco are set to sign a major intergovernmental agreement later this year to push forward the long-delayed Nigeria-Morocco Gas Pipeline project, a multi-billion-dollar energy corridor expected to reshape gas trade across West Africa and Europe.
The agreement, expected to be signed in the fourth quarter of 2026 by President Bola Tinubu and King Mohammed VI of Morocco, follows the completion of preliminary technical studies for the ambitious project, according to officials from both countries.
The pipeline, also known as the African Atlantic Gas Pipeline, is projected to stretch about 6,900 kilometres along offshore and onshore routes across West Africa, making it one of the largest gas infrastructure projects on the continent.
With an estimated cost of $25 billion, the pipeline is designed to transport up to 30 billion cubic metres of gas annually once completed.
Discussions on the project gained fresh momentum during a telephone conversation between Nigeria’s Minister of Foreign Affairs, Mr Bianca Odumegwu-Ojukwu, and her Moroccan counterpart, Mr Nasser Bourita.
The project would not only strengthen energy cooperation between the two countries but also improve regional economic integration and expand Africa’s access to European energy markets.
According to Morocco’s hydrocarbons and mining agency, ONHYM, part of the gas supply will support Morocco’s domestic energy demand, while large export volumes will be directed to Europe.
The project, first proposed about a decade ago, is seen as a strategic alternative gas supply route amid rising global energy security concerns and Europe’s search for more diversified energy sources.
Beyond the pipeline, Nigeria and Morocco are also exploring broader economic partnerships, particularly in fertiliser production and distribution to support food security across Africa.
Both countries also agreed on the need to revive the Nigeria-Morocco Business Council to strengthen trade and investment relations under the African Continental Free Trade Area framework.
Analysts noted that the project could significantly boost gas monetisation opportunities for Nigeria, expand regional infrastructure development, and deepen economic ties between West African nations and Europe if successfully executed.
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