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Omatek to Build Multi-Billion Naira Factory in Nigeria

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To consolidate on its achievements and its extensive presence in Nigeria, Omatek Computers, the leading Nigerian computer manufacturer, is to invest billions of naira on a new factory in the country.
The company, which turned 25 last December, remains the only quoted computer company on the Nigeria Stock Exchange. It has led the increasingly competitive Nigerian ICT market  as the only company in East, West and Central Africa that produces computers and casings from completely knocked down (CKD) components sourced from the highest grades of manufacturers to give all Omatek computers the requisite world-class standards comparable to any other foreign brand.
Omatek exited the SMEIS scheme through a Private Placement undertaken by former Afribank Capital which eventually culminated in the company being listed as the first Computer Company on the Nigerian Stock Exchange in July 2008, since then the Omatek Factory has come up with various initiatives to drive and sustain the Minimum Order Quantity (MOQ) requirement of the First Class Manufacturers of Raw Materials.
One of such initiatives is the Omatek e-Xpress consumer scheme designed to assist Nigerians own computers through a convenient payment plan which spans between 12 – 24 months.
“Our new factory to takeoff immediately will include the new Solar Panel and the new LED bulbs and lighting factories. Our 24 hour Solar/Inverter/battery hybrid solution is a great innovation and is pioneered by Omatek and the first of its kind in Africa. This by itself is major income revenue to providing 24 hour light and power to homes, offices, schools, hospitals and hotels among others,” said Florence Seriki, managing director/CEO Omatek Ventures Plc
 “It will interest you to know that Lighting and Power Solutions were provided via this solution in conjunction with special Omatek LED bulbs.  These Bulbs last three to Five years without maintenance and our regular 42W Flourescent bulbs had been reduced to 9W for 2ft and 13W for 4ft bulbs; thus reducing consumption by over 85%” added Seriki to affirm the additional focus at the new factory.
Tidying up on its financials with funding instruments from offshore and local partners, Omatek, which recorded over a billion naira turnover last year from not just its existing computer products but also from its newly innovating products such as the 24 hour Solar/Inverter/battery Hybrid Solutions sold to schools, offices and homes, said it was re-kitting its financial base to enable it consolidate and expand its portfolio of services available through its Consumer Scheme Finance  and Omatek Resource Centres.
Since it entered the competition, Omatek has grown to become one of the continent’s leading brands. Omatek opened a factory in Ghana over years ago as part the company’s pan-African vision. Omatek has won global accolade and got the endorsement of the International Telecommunications Union (ITU) about four years ago as a driver of technological change in Africa . From software giant Microsoft, it got recognised as the No.1 PC manufacturer in the West and Central Africa (WECA) region.
Omatek with strong performance record in Nigeria’s public sector was described  about six years ago by then President Olusegun Obasanjo as a product of “vision and resilience,” during the official launch of the Omatek brand in Nigeria by the former president in Aso Villa, Nigeria’s seat of power. Describing Omatek as a testimony that government’s policy of having a private sector led economy was working, Chief Obasanjo said Omatek had proven that the capacity to join the information society was readily available and all that was needed was governments to create an enabling environment for the private sector to drive the needed change as the Nigerian government had done. According to Obasanjo, Omatek has created a benchmark for other enterprises.


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New Horizons Invests N50m to Empower Almajiris with Skills

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New Horizons Nigeria has launched a N50 million initiative aimed at transforming 21 Almajiri children into skilled computer technicians within 90 days, to tackle youth unemployment and harness human potential.

The Almajiri-to-Tech programme, officially launched in Abuja on Monday, provides participants with full training, meals, clothing, tools, and logistics support, all fully funded.

Speaking at the launch, the Chief Executive Officer of New Horizons, Tim Akano, said the programme represents a new journey in the history of Nigeria by restoring the original purpose of the Almajiri system, which he described as “children sent out to seek knowledge.”

“The word Almajiri comes from an Arabic term meaning emigrant and seeker of knowledge. Historically, children were sent to learn morals, responsibility, and skills to add value to society,” Akano said.

He added that the disruption of this system during colonial times forced many children onto the streets, a challenge that persists today.

Akano highlighted the urgency of addressing the Almajiri issue, noting that there are an estimated 15 million Almajiris in the country, with a population growth rate of around three per cent annually.

“If we do not solve this problem as a country, we are sitting on a time bomb,” he warned.

According to him, the programme focuses on hands-on technical skills rather than theory. Trainees will learn to repair mobile phones, laptops, televisions, radios, standing fans, and other electronic devices, as well as build inverter batteries using recycled electronic waste.

“We are not teaching theory. We are teaching practical skills you can use to earn a living,” Akano said, stressing that the programme will not interfere with the participants’ Quranic education.

“We are still going to allow you, within the period of learning. Your learning computer here is not stopping your Quranic education.

“You still have time within our space here. Whenever you want to go and pray, you can pray, then come back to class,” the CEO stressed.

He added that participants will also receive daily meals, water, T-shirts identifying them as technicians-in-training, and access to all necessary tools and equipment throughout the 90-day programme.

Akano said the initiative is part of a larger mission by New Horizons Nigeria, which has spent the past 21 years training about 100,000 Nigerians annually in IT and related skills.

He said the new programme aims to “take human genius off the streets and convert it into human capital, enabling these youths to contribute meaningfully to the economy.”

He added that equipping Almajiris with skills could add 15 million people to Nigeria’s workforce and potentially increase the country’s GDP by as much as $20 billion, stressing that productivity depends on practical skills and opportunity.

“Everything that can be taught can be learned. If someone can memorize the Quran cover to cover, there is nothing that cannot be done. What they lack is information, opportunity, and infrastructure, and we are providing all of that,” Akano said.

Akano also stressed that the initiative is designed to inspire other organizations and government agencies to replicate similar programmes across the country.

“This is not just about 21 children; it is about showing Nigeria what is possible when resources meet intention and planning.

“If we succeed in empowering these Almajiris, we demonstrate that the country can turn social challenges into economic opportunities. It’s a blueprint for Nigeria’s future,” he said, noting that the initiative combines social reform, technical education, and economic empowerment.

Also speaking, one of the trainees, Fatima Umar, appreciated the organisers and promised to maximise the opportunity.

“We’ll make you proud of us. We have nothing to say here but to thank and appreciate you. May Almighty Allah continue to guide and protect you,” Umar said.


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IMF Upgrades Nigeria’s 2026 Growth Projection to 4.4%

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International Monetary Fund has upgraded Nigeria’s 2026 economic growth projection to 4.4 per cent, reflecting improved macroeconomic stability and sustained reforms.

IMF Upgrades Nigeria’s 2026 Growth Projection to 4.4%

IMF

The January 2026 World Economic Outlook Update forecasts Nigeria’s growth trajectory at 4.1 per cent in 2024, 4.2 per cent in 2025, and 4.4 per cent in 2026—a 0.2 percentage point increase from the October 2025 estimate.

This aligns with sub-Saharan Africa’s projected 4.6 per cent expansion in 2026 and 2027, driven by regional stabilisation efforts.

Globally, the IMF anticipates 3.3 per cent growth amid resilient conditions tempered by trade policy shifts and technology investments. For Nigeria, declining energy prices—expected to fall seven per cent due to weak demand—pose risks, though OPEC+ coordination and China’s stockpiling provide support.

Despite the optimism, downside risks persist from Middle East and Ukraine tensions, protectionism, high debt, and fiscal deficits. The Fund recommends rebuilding fiscal buffers, ensuring central bank independence, and limiting temporary fiscal measures to maintain stability.

Nigeria’s success hinges on consistent reforms and resilience against domestic and global shocks, the IMF concluded.


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Nigeria’s Crude Output Falls to 1.486mbpd in November – OPEC

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Organisation of Petroleum Exporting Countries (OPEC) reports that Nigeria’s crude oil production, excluding condensate, dropped by 0.7 per cent to 1.486 million barrels per day (mbpd) in November 2025 from 1.496 mbpd in October.

Nigeria’s Crude Output Falls to 1.486mbpd in November – OPEC

OPEC

The figure, drawn from secondary sources in OPEC’s December 2025 Monthly Oil Market Report, fell short of Nigeria’s 1.5 mbpd quota. Direct communication data showed output at 1.436 mbpd, up from October’s 1.401 mbpd, but still below target.

Nigeria produces around 196,028 bpd of condensate, excluded from quota calculations per Nigerian Upstream Petroleum Regulatory Commission figures. Year-on-year, November’s output marked a slight gain over 1.417 mbpd in November 2024.

Expert Cites Insecurity, Governance Gaps

Petroleum economics expert Wumi Iledare described the quota miss as unsurprising, blaming persistent insecurity, an ageing oil basin lacking new finds, and unoffered hydrocarbon blocks. Governance shortcomings and policy uncertainty further erode investor confidence, he noted.

Selective implementation of the Petroleum Industry Act worsens the situation, with Nigeria needing a single authoritative leader for the sector rather than multiple proxies, Mr Iledare stressed. The country has struggled to consistently hit OPEC targets for years.


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