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Main One, N5.6Bn Cable System Gets Nigeria, Ghana Licenses

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Main One cable, the over N5.6 billion sub-marine optic fibre cable which will link African nations with their counterparts in the rest of the globe has achieved major breakthroughs after obtaining two important licenses that will fast track its launch in 2010, Nigeria CommunicationsWeek can exclusively report.
The project now has Nigeria and Ghana cable licenses, two countries in West Africa where the cable system spanning over 14,000 kilometers will land.
The development signals the seriousness of Main One to provide the much-needed high capacity for international and Internet connectivity to countries between Portugal and South Africa on the West African coast.
Nigeria CommunicationsWeek gathered that when ready, Nigeria and some other countries from the northern West Coast of Africa to Portugal, will enjoy significant drop in bandwidth prices.
Main One cable, led by Main Street Technologies has also received overwhelming endorsement from local and international investors especially because of the pedigree of promoters of the project.
Elated Funke Opeke, chief executive officer of Main Street Technologies said that Main One footprint is expected in Portugal by late January next year.
Opeke hopes that the first phase of Main One will be up in 2010 and is determined to see the completion of the second phase in 2011.
Ahead of this, Main One had earlier in the year penned down a deal with Tyco –  reputed as one of the strongest names in the construction of cable – for a turnkey supply contract for the System.
Main One Cable would encourage local content development via skills transfer of critical networking technologies and job creation with the location of the network operational centre in Nigeria.
The project was inspired by the Connect Africa Conference hosted by the International Telecommunications Union (ITU) in Kigali, Rwanda, in October last year where industry players and leaders discussed the imperatives of connecting Africa to the digital age and creating jobs via the deployment of broadband network solutions and empowering ICT technologies.
Nigeria CommunicationsWeek however gathered that Main One is one of the numerous international fibre projects competing to give the much-needed additional capacity and price competition to South Atlantic-3 (SAT-3), West African Sub-marine Cable (WASC)/ South Africa Far East (SAFE) route (SAT-3/WASC/SAFE), owned by national operators in 15 African countries, and 11 other investors.
Apart from Main One, there is the Glo-1, a 9,500 kilometre state-of-the-art international submarine cable being positioned as the solution to Nigeria and West Africa’s bandwidth requirements.
Globacom, Nigeria’s second national carrier, owners of the cable said that it will be ready in March 2009.
Elsewhere, the Uhurunet project, led by the e-Africa Commission (on behalf of Bahricom Development Company), hopes to be operational by the fourth quarter of 2010.
Yet there is another by Seacom, an undersea fibre-optic cable, which will link southern and eastern Africa with India and Europe; bringing down connectivity costs on the continent.

 


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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%

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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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