News
Okowa, Others Say MSMEs, Fastest way to Speedy Devt

Senator Dr. Ifeanyi Okowa, Delta State Governor; Mr Godwin Emefiele, Governor of Central Bank of Nigeria (CBN) and others have identified Micro, Small and Medium-Scale Enterprises (MSMEs) as the fastest way for Nigeria’s economic growth.
While identifying MSMEs as great employers of labour, they observed that investing in such would not only boost Nigeria’s economy but, will ensure speedy technological development of the country.
Their positions were made known yesterday (24/06/17) at the maiden edition of Ika Economic and Investment Summit organised by the Ika Village Square at Agbor. The summit had as its theme, “exploiting the economic potentials of Ika nation through strategic partnership.”
“As it concerns MSMEs, we have done a lot to encourage our people to be entrepreneurs but, a lot more needs to be done; a lot of our people are not knowledgeable enough and as such, they make a lot of mistakes, we are not only training our people to acquire skills as government but, we are training our youths, equipping them to function on their own, monitor and mentor them to succeed as entrepreneurs because, education backed with skills is the way to go for our country,” Governor Okowa said.
He also, observed that it was important for the people to go into agriculture, noting that job opportunities abound through the agriculture value chain.
The Governor asserted, “one of the ways to have an inclusive growth in our nation is agricultural production and its value chain; I am encouraging our politicians to go into farming, there are lot of benefits in farming, it is a great employer of labour; even in the area of palm oil production, we have not been able to produce enough palm oil to meet with the need of Nigerians not to talk of export.”
He used the occasion to call on parents to instill in their children, the right values, saying, “without the right family values of bringing up children who appreciates hard work, we will not achieve the desired results; parents must realize that if they don’t know what their children do to earn a living, they have failed as parents; most of us may not want to talk about it, but, most of us have no control over children which means, we have failed as parents.”
The Governor of CBN in an address delivered on his behalf by Chief Ikeghagu H.C, stated, “MSMEs are recognized worldwide as a catalyst for rapid growth, job creation and poverty reduction; they have been described as the incubators of innovation and employment, which are usually resilient to most exogenous shocks.”
Major-General Lucky Irabor, Commander of Operation Lafiya Dole North East Theatre Command stated, “without security, there is no development, development and security are interwoven.”
Dr Kingsley Emu, Chairman of the Organizing Committee in a welcome address, stated that the Economic and Investment Summit was organised to address economic issues facing the Ika ethnic nationality and a bold declaration of the resolve of the people to succeed.
Those who spoke at the occasion include, Prof. J.C. Egbon, Prof. Eric Eboh, Dr Jude Ogala, Commissioner for Police David Igbodo, Prof. Stella Chiemeke, among 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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