News
Under Jonathan N1.3Trillon was Stolen by 55 People

Presidential Advisory Committee Against Corruption (PACAC) has said that 55 people stole N1.3trillion from the national treasury in seven years under President Goodluck Jonathan’s watch.
The committee said Jonathan tolerated corruption, closed his eyes to graft while his administration fared worse than his predecessors in tackling official sleaze.
In its report of activities from August 2015 to July 2016 presented to civil society organisations (CSOs) by Prof Bolaji Owasanoye, executive Abuja, PACAC said corruption brought Nigeria under to its knees under Jonathan.
The report says: “His (Jonathan’s) tolerance of corruption was reflected in the sunset of activities of anti-corruption agencies under his watch and exponential increase of other vices no doubt fuel by corruption.
“For example, it is widely believed that insecurity escalated because of the massive embezzlement of $2billion through the Office of the National Security Adviser under the leadership of Col. Sambo Dasuki, who allegedly diverted the money appropriated to fight insurgency.
“The problems in the downstream sector of the petroleum industry reached zenith with multi-billion dollars subsidy scams while President Jonathan looked the other way.
“At the same time, other vices spread like cancer – kidnapping, import duty waivers, financial recklessness, a profligate legislature, corrupt judiciary, etc. There was no single high profile conviction under his watch yet there were allegations of high profile corruption within his cabinet.
“Jonathan’s legendary comment that stealing is not corruption underscored his perspective on corruption and remains a watershed in the history of anti-corruption crusade in Nigeria.
“Under his watch, corruption brought Nigeria to its knees.”
PACAC said using World Bank rates, one-third of the N1.3trillion allegedly stolen by only 55 people in seven years could have provided 635.18 kilometers of roads, built 36 ultra-modern hospitals in each state, built and furnished 183 schools, educated 3,974 people from primary to tertiary level (at N25.2million per child) and built 20,062 units of two-bedroom houses.
The committee noted that while former President Olusegun Obasanjo established key anti-corruption agencies which led to high-profile convictions even though “his actions were not above board”, the crusade against corruption went comatose from 2007 “largely due to leadership deficit”.
PACAC said corruption is Nigeria’s greatest challenge and is directly associated with the current economic decline, poverty rates, reduced life expectancy, mortality and deteriorated living standards.
Owasanoye said due to corruption, a few Nigerians were richer than their states, while plea bargaining was abused as people who stole the country dry were given slaps on the wrist and asked to go home.
He said PACAC has designed a Plea Bargain Manual which mandates custodial sentence for all those who plead guilty of looting after returning all they stole.
Other strategy documents developed by PACAC and adopted by the government, he said, are a draft National Anti-Corruption Action Plan and Strategy Document, Corruption Case Management Manual (full and abridged versions), Corruption Information/Intelligence Sharing Protocol, and the Federal Sentencing Guidelines for Corruption and other Related Economic Offences.
Others are the Strategic Communication Blueprint for FGN in the Fight Against Corruption, Assets Recovery Strategy Document, Framework for Management and Administration of Recovered Stolen Assets, Draft Bill and Explanatory Memorandum for the Establishment of Special Crimes Court, amongst others.
News
New Horizons Invests N50m to Empower Almajiris with Skills

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.
News
IMF Upgrades Nigeria’s 2026 Growth Projection to 4.4%

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

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

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.

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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