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The Alternative Bank signs MoU with Niger State on multi-sector development
The Alternative Bank, an Africa-focused non-interest bank, has signed a multi-year 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 Bank
The 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.
News
Breaking: NHRC, LEDAP begin consultative forum on eliminating harmful traditional, religious practices
By Bonaventure Phillips Melah
A consultative forum to seek ways of eliminating harmful traditional religious practices that impact rights of women and gender equality in Nigeria is set to begin in Abuja.
Organized by the National Human Rights Commission, NHRC, and the Legal Defence and Advocacy Project, LEDAP, the gathering is themed- “Empowering Traditional Rulers in Nigeria to Adopt and Implement Community Guidelines for Gender Equality and Non-Discrimination Against Women.”
Among dignitaries to speak at the event are Dr. Tony Ojukwu, a Senior Advocate of Nigeria (SAN), the Executive Secretary of the National Human Rights Commission, Chino Obiagwu, SAN, National Coordinator, LEDAP and Prof. Joy Ezeilo, SAN, Executive Director, Women Aid Collective.
Details later…..
The Director General of AGRHYMET, Dr. Issoufou Baoua, led a high-level delegation to the Nigerian Meteorological Agency (NiMet) as part of the Joint Mission on the operationalization of the Regional Climate Centre for West Africa and the Sahel (RCC-WAS).
He was accompanied by the WMO Representative for West, Central & North Africa, Dr. Bernard Gomez, and the ECOWAS Representative, Prof. Mansur Matazu.
The mission focused on advancing regional collaboration required to fully operationalize RCC-WAS — a key initiative designed to enhance climate services, strengthen resilience, and support informed decision-making across West Africa and the Sahel.
During the engagement, the AGRHYMET DG outlined the core objectives of the mission, which include strengthening institutional partnerships, aligning regional priorities, identifying capacity-building needs, and setting actionable milestones for the effective take-off of RCC-WAS.
Receiving the delegation, the Director General/CEO of NiMet, Prof. Charles Anosike, reaffirmed NiMet’s commitment to the successful establishment of RCC-WAS. He emphasized that NiMet will provide technical expertise and tools — including MeteoWiz — participate in joint research efforts, and contribute to the development of advanced climate monitoring and forecasting capabilities for the region.
The visit marked a significant step forward in consolidating regional cooperation. Both institutions reaffirmed their shared commitment to strengthening climate services, and the meeting concluded with the signing of a Memorandum of Understanding (MoU) for the operationalization of the Regional Climate Centre for West Africa and the Sahel.
President Bola Tinubu has set up a high level committee to resolve issues on N4 trillion owed to federal contractors in the country.
According to Bayo Onanuga, Special Adviser on Information and Strategy, the President also expressed displeasure over the huge debt.
He made the disclosure while briefing State House correspondents at the end of the Federal Executive Council, FEC, meeting presided over by the President at the Council Chambers, Presidential Villa, Abuja.
He said the President was enraged after learning that about 2,000 contractors are owed.
Onanuga, who stood in for the Minister of Information and National Orientation, Mohammed Idris said: “He made it very, very clear he is not happy and wants a one-stop solution.
“An important highlight in the course of the FEC meeting is that the President expressed very, very grave displeasure about the fact that contractors are being owed money.
“The DG (Director-General) of the Bureau of Public Procurement actually told the President that about 2000 contractors are being owed money and this made the President very, very upset.
“So the ministers are going to look into the problem to really find a solution, to find the money to be used in paying the contractors.”
The presidential aide explained that the committee has as members, the Ministers of Finance (and Coordinating Minister of the Economy), Wale Edun; Budget and Economic Planning, Atiku Bagudu; Works, Dave Umahi; Education, Olatunji Alausa; Housing, Ahmed Dangiwa; and Marine & Blue Economy, Gboyega Oyetola, along with the Director-General of the Budget Office of the Federation, Tanimu Kurfi; and the Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji.
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