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FG, Chinese Firm Sign MoU on Electric Bicycles, Renewable Energy

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Bola Tinubu
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Federal Government on Tuesday signed a Memorandum of Understanding with a Chinese Company, Mutual Commitment Company Limited for the assembly of electric tricycles and establish a renewable energy training centre.

The MoU signing ceremony, facilitated by the Rural Electrification Agency, was attended by Adebayo Adelabu, minister of Power, and Mr Abba Aliyu, managing director of REA.

In a statement on Tuesday byBolaji Tunji,  Adelabu’s spokesman,  it was disclosed that the event took place in Beijing on the eve of the opening of the African-China Co-operation Summit.

Adelabu was quoted as saying that the MoU event was important and will go down as a memorable day for Nigeria.

He congratulated the REA and the National Power Training Institute of Nigeria on the event, saying it will aid in achieving Nigeria’s vision for the renewable energy sub-sector of the entire electricity sector value chain.

Adelabu added, “I know Nigeria and China have a lot of things in common, one of which is the fact that Nigeria and China are both high population countries and with a country with high population, you have so much pressure.

“The first pressure is that of energy access, and the second is job creation. So when you take steps to achieve both, it is a thing of joy. I am particularly happy that this is happening during the tenure of President Bola Tinubu, as it is in line with achieving the Renewed Hope Agenda of the administration for the country.”

The minister reiterated the fact that Tinubu has prioritised the power sector as the driver for all other critical sectors of the economy and, he is giving the sector all the support to ensure it delivers his electoral promises.

He highlighted that energy access and expansion is the government’s major priority because nothing can be achieved without a strong, stable, functional, and reliable electricity sector.

“We have relied so much on centralisation of our power sector for so long that it is not taking us anywhere,” he stated.

Adelabu revealed that almost 40 per cent of Nigeria’s population lacks access to energy with its attendant consequences.

“So, moving away from centralisation, we have decided to adopt the distributed power model to ensure that every Nigerian has access to energy.

“A lot of our population resides in rural areas, and a lot of our educational and tertiary health institutions are isolated, and they are still facing epileptic power supply.

“We have also found out that the adoption of the distributed energy model will expand the energy net for our rural dwellers, the rural businesses, our universities and tertiary health institutions; which is why the focus is on renewable energy which we believe is scalable and can exist in isolation of national grid that is currently facing lots of pressure,” he explained.

According to him, as Nigeria continues to expand energy access, the country also wants to achieve a transition to cleaner sources of energy that are sustainable and environment friendly.

He said the MoU would achieve the vision for the renewable energy sub-segment of the power sector.

“We will be able to produce jobs for our large youthful population that is growing every day.

“Our polytechnics, technical colleges, and universities are turning up graduates every year without assurance of job placement.

“This will go a long way to make it happen. At the same time, we will be able to achieve our energy access expansion,” he added.

He noted that northern African countries such as Tunisia, Morocco, Egypt, and Algeria have achieved 100 per cent electrification of their countries and in South Africa, about 95 per cent.

“Unfortunately, Nigeria is still at 62 per cent, though there are still some African countries with worse levels of achievements, but this is not where we belong. If these countries can achieve this, why is it not possible for Nigeria with the level of our natural endowment?

“We have the gas, and the dams are also there for the hydropower electric. The wind, both desert and coastal, is there while sunshine is also effective. So, what are we waiting for?

“A step like today’s will enable us to move up on our level of electrification. This will consequently lead to growth in our Gross Domestic Product because of the economic activities that would be created.

“This will also save us foreign exchange expenditure on importation and create jobs for our people if we assemble these things locally,” he posited.

Earlier, the REA boss reiterated the importance of the ceremony as it is capable of delivering on the presidential mandate of building local capacity and creating more job opportunities.

“We will track this and ensure the delivery of the commitment within the tenure of the present administration.

“We will also track the economic factor that this initiative will drive, the level of GDP contribution, the employment opportunities provided, and the socio-economic activities that will crystallise,” Aliyu remarked.

He said the MCC is presently engaged in Nigeria with the construction of 12 megawatts and 3 megawatts power plants in Maiduguri and Kaduna, respectively.

The Vice Chairman of MCC, Yan Zhezhu, who spoke through an interpreter, expressed appreciation for the power minister’s commitment to Nigeria’s energy growth.

Credit: Punch


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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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