News
FG Partners 14 Firms on $1.75Bn Solar Power Project

The Federal Government on Thursday in Abuja signed a Front-Runner Solar Power Purchase Agreements (PPAs) worth 1.75 billion dollars with 14 companies to build 1.125 Megawatts(MW) capacity of renewable power in the country.
Mr. Babatunde Fashola, minister of Power, Works and Housing, who signed the documents on behalf of the government, said the agreement was to demonstrate government’s commitment to diversify Nigeria’s power industry.
The minister listed the companies as Pan Africa Solar with 75mw of electricity to be located in Kankia Local Government in Katsina and Nigerian Solar Capital Partners, 100mw located in Ganjuwa, Bauchi state.
Others are Afrinergia Power Limited, 50mw located in Kokowa, Nasarawa State; Motir Dusable Limited, 100 MW in Udi, Enugu State and Nova Solar 5 Farm Limited, 100mw located in Katsina State.
Also Kvk Power Nigeria Pvt Limited, 100mw located in Yabo of Sokoto state; Middle Band Solar One Limited, 100mw in Lokoja West in Kogi and LR Aaron Power Limited, 100mw in FCT
Nova Scotia Power Development Limited, 80mw located in Dutse; CT Cosmos, 70 MW located in Kaduna West in Kaduna State and Oriental Renewable Solutions, 50mw in Kakowa, Jigawa.
Quaint Abiba Power Limited, 50mw located in Manchor Local Government of Kaduna State and Anjeed Innova Group, 100mw located in Kafanchan, also in Kaduna State.
According to Fashola, the PPAs are the heart and soul of financing the power industry.
Fashola disclosed that before the year 2030, Nigeria would have achieved 30 per cent capacity in renewable energy, adding that Nigeria would invest in renewable power in areas such as Biomass and coal.
He explained that the era had gone when the country would depend on one source to generate its electricity.
He added that Nigeria sited many of its solar energy projects in the northern part of the country because the area had more sun radiation than other parts.
The minister expressed happiness over the confidence the investors had to invest in Nigeria’s power sector not minding challenges in the industry.
He assured the investors that the Federal Government would provide them with good investment climate but would not tolerate low standard in the quality of their projects.
Earlier, Mr. Waziri Bintube, Acting Managing Director, Nigerian Bulk Electricity Trading PLC, expressed happiness that the energy sector was making progress in ensuring that Nigerians had quality and stable electricity.
Mr. Marcus Heal, Managing Director of Pan Africa Solar, who spoke on behalf of the investors, thanked states, Federal Government and other agencies that assisted the investors to succeed in getting their PPAs.
He expressed dissatisfaction with the low rate of the tariff regime in the sector, adding that the investors had expected high tariff in the energy industry.
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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