13, September 2018
Nigeria’s 2019 polls: Buhari submits party forms, slams PDP’s 16 years 0
Nigerian President Muhammadu Buhari has submitted party nomination forms seeking as he officially kick starts a bid to secure a second and final term in charge of Africa’s most-populous nation.
Buhari was at the Abuja headquarters of the All Progressives Congress, APC, to file his nomination papers. The party has yet to slate a date for the contest to become flag-bearer even though Buhari is expected to be retained unopposed.
The septuagenarian in 2015 became the first opposition candidate in Nigerian history to defeat a current president. Buhari beat the then incumbent Goodluck Jonathan in his fourth shot at the presidency.
He had on Tuesday received nomination forms which were bought for him by some benevolent Nigerians. He tasked the APC members to eschew complacency and do all it takes to retain power come February 2019.
“Today I put my name forward to my party, the All Progressives Congress, seeking nomination to contest the Presidential Elections next year. I assure party members and all Nigerians that, if nominated and if elected, I shall continue to serve you to the best of my ability.
“Let me today appeal to party members not to be complacent but to prepare, strategize and win in 2019 elections. We must not allow those who brought the country to its knees from 1999 to 2015 to come and take us back,” he wrote on Twitter.
Buhari was elected on a promise to defeat Boko Haram, resuscitate a slumping economy and fight corruption.
His scorecard remains mixed as security continues to be a headache especially against insurgent group Boko Haram. A mid-year spate of communal killings have also all but subsided.
A proportion of Nigerians still suffering from the repercussions of the 2015 economic recession remain disenchanted. His first term was also marked by a serious illness, not revealed to the general public, which forced him to spend months in London for treatment.
His opponents accuse him of having autocratic tendencies.
Former Vice-President Atiku Abubakar and Senate Leader Bukola Saraki who both defected from the APC to the main opposition Peoples Democratic Party, PDP, have declared interest to unseat Buhari.
Source: Africa News



























13, September 2018
African Development Bank’s Board approves Policy on Non-Sovereign Operations 0
The Board of Directors of the African Development Bank Group (www.AfDB.org) has approved the Bank’s Policy on Non-sovereign Operations (NSO). The document provides the framework within which the Bank through its private sector lending window may provide financing or investment without sovereign guarantees to private and public entities that meet specific eligibility requirements on non-concessional terms.
Non-sovereign Operations (NSOs) refers to financing and investment operations that are not guaranteed by a State, covering mostly private sector transactions. They also cover non-sovereign guaranteed financing of eligible public sector enterprises, as well as financing of regional development finance institutions.
The approval of the Policy comes at a critical moment when the Bank is seeking to accelerate inclusive and sustainable economic growth, and crowd in more private sector funding for strong and inclusive growth to drive economic transformation and sustainable development in its Regional Member Countries (RMCs).
The NSO Policy will complement the Bank’s overarching 2013 Private Sector Development policy framework, notably, by defining what the Bank will do in the area of non-sovereign lending. Within this context, the objective of the Bank’s non-sovereign operations is to help accelerate the continent’s transformation through various financial support mechanisms and products including loans, lines of credit, guarantees, blended finance, equity investments and trade finance. This would enable the Bank to contribute to the sustainable economic growth and inclusive social development of its RMCs individually and jointly, in fulfilment of the Bank’s mandate.
More specifically, the Bank’s engagement in its selected non-sovereign operations will aim to maximise the catalytic impact of its limited resources, while seeking to promote inclusive growth and the gradual transition to ‘green growth’ in its RMCs. It will also help scale up financing in the Bank’s High 5 priority areas of intervention.
Under this NSO Policy, the Bank would provide financing to non-sovereign operations subject to four conditions: (i) the borrower is a private enterprise or an eligible public sector enterprise; (ii) the operations are financially sound; (iii) the operations should result in satisfactory development outcomes, including supporting or creating opportunities for private sector development; and (iv) the Bank brings additionally, which could be either financial or non-financial.
The Policy would ensure that NSOs: (i) are well-prepared with clear value added/additionally brought by the Bank; (ii) are technically, economically and financially sound, and diligently managed, adhering to high ethical norms; (iii) are environmentally and socially sustainable; and (iv) have solid prospects of generating significant development results in the RMCs in which they are implemented.
The NSO Policy does not apply to the Bank’s sovereign loans and sovereign-guaranteed loans. Such operations will continue to be governed by the relevant policies that guide the Bank Group’s public sector operations.
Distributed by APO Group on behalf of African Development Bank Group (AfDB)