The African Development Bank (AfDB) has approved $100 million for the establishment of the Youth Entrepreneurship Investment Bank in Nigeria.

Akinwunmi Adesina, president of the AfDB, made the announcement while delivering a keynote address at the 90th birthday lecture of former head of state, Yakubu Gowon, in Abuja.

“I am delighted to announce here today that just three days ago, the African Development Bank’s board of directors approved $100m for the establishment of the Youth Entrepreneurship Investment Bank for Nigeria,” Adesina said.

He emphasized that the initiative reflects the AfDB’s commitment to supporting Nigerian youths, who are vital to the country’s development.

The bank will provide technical assistance, business incubation, quasi-equity, and debt to youth businesses.

It will also offer guarantee instruments to de-risk lending to these businesses by financial institutions.

Adesina added, “It will be a new day and a new dawn for Nigeria.” He also stated that this initiative aligns with President Bola Tinubu’s vision and plans for the youth in Nigeria.

Siminalayi Fubara, governor of Rivers, has approved N85,000 as the minimum wage for civil servants in the state.

The governor gave the approval during a meeting with representatives of organised labour at the government house in Port Harcourt.

Addressing journalists, George Nwaeke, head of the Rivers State civil service, confirmed that the “implementation of the minimum wage will begin in November.”

He expressed satisfaction with the development, saying that “Rivers state civil servants have never had it this good since the inception of this state.”

Emecheta Chuku, chairman of the joint public service negotiating council, praised the governor for his decision, stating that “for the governor to declare that he will pay N85,000 as the minimum wage, fills our hearts with joy.”

Chuku described Fubara as “a decent man, very responsible” and someone who “understands what it takes to earn a living salary.”

Alex Agwanwor, chairman of the Nigeria Labour Congress (NLC) in Rivers, also pledged support, saying, “We will support him for the next eight years.”

This development follows a similar announcement by Lagos governor Babajide Sanwo-Olu, who recently set the minimum wage at N85,000 for civil servants.

In July, President Bola Tinubu signed a minimum wage bill into law, increasing the national wage from N30,000 to N70,000.

Bolaji Olugbenga, the divisional police officer (DPO) in charge of Ijanikin police station in Lagos, has passed away.

Benjamin Hundeyin, the police spokesperson in Lagos, confirmed the death on Friday night.

“He slumped yesterday (Thursday) and died today (Friday),” Hundeyin said.

Although Hundeyin did not provide further details, report has it that the DPO collapsed in his office on Thursday night and passed away before he could be taken to the hospital.

An officer from the division, who wished to remain anonymous, said the DPO’s body had been moved to a mortuary.

“He slumped in the office on Thursday and was quickly rushed to the hospital. But sadly, we lost him,” the officer said.