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Doroki Partners Visa, Paga to Launch ‘Business Connect & Grow’ Platform

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Doroki, a platform focused on digitizing small-to-medium businesses, announces the launch of Business Connect and Grow – a transformational suite of digital tools for small-to-medium businesses (“SMBs”) in partnership with Visa, and Paga.

The Business Connect and Grow platform will initially be focused on Nigeria. It will offer multiple digital payment collection methods and vital business support solutions. Over 5,000 merchants in Lagos have Business Connect and Grow already. Each of the partners will contribute uniquely:

  • Visa will enable the issuance of Visa credentials as well as payment acceptance using Visa QR Code;
  • Paga provides the robust payments infrastructure that powers the ledger, accounts, and payment rails for Doroki.

This announcement builds on the Visa-Paga partnership, formalised in March 2020 to drive digital acceptance and financial access in Nigeria. The Business Connect and Grow platform reinforces the continued commitment of Paga and Visa to help drive business growth across Africa.

SMBs will have access to an affordable mobile device configured with secure Visa payment acceptance for cards and QR codes. The application allows customers to pay however they wish – via cards, QR codes, bank transfers, USSD, payment links or nearby payments.

In the near future SMBs will also be able to initiate payroll, build credit history, receive micro-loans, and manage their working capital. The application is free to download; merchants who already use Paga’s payment collection suite can simply update their existing app and benefit from an enhanced customer experience.

As SMBs comprise 90% of all businesses in Sub-Saharan Africa, the market opportunity is significant.

Many struggle to sell efficiently, lack the systems and/or digital infrastructure to track inventory, and primarily trade in cash. Online retailers also face trust issues with customers who have to pay ahead with little-to-no recourse and poor delivery logistics.

Tayo Oviosu, Founder & CEO of Paga Group, commented: “Small and medium-sized businesses are 90% of Nigeria’s economy. There is a massive opportunity to digitize Nigeria’s largely informal economy and increase affordability for SMBs to make and accept digital payments.

“They need support to turn digital business to their advantage and to make life easier for consumers. Business, Connect, & Grow does this. Businesses in Nigeria struggle to sell efficiently, and our goal with Doroki is to leverage the payments infrastructure of Paga to solve their problems.”

Okusanya, Oluwakemi, Vice President, West Africa, Visa, said: “Connecting Nigeria’s small and medium-sized businesses to the digital marketplace is essential to help this core segment of the national economy fully recover from the effects of the COVID-19 pandemic and to drive renewed and sustainable growth.

“Visa recognises how important it is to support SMEs in joining the digital banking landscape. The Business Connect & Grow platform will enable them to create new jobs and new opportunities, access new payment solutions and bring positive, lasting change to communities.”


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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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