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Forbes Honors Leo Stan, Zinox Boss As Africa’s Leading Tech Icon

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LEO STAN EKEH
Leo Stan Ekeh, Chairman, Zinox Group
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Leo Stan Ekeh, Serial digital entrepreneur and Chairman, Zinox Group, has been honoured with the highly coveted Forbes Best of Africa Leading Tech Icon Award.

Leo Stan Ekeh, Chairman, Zinox Group

Ekeh was conferred with the prestigious award on Friday, August 6, 2021.

The well-deserved accolade marks the latest in a long list of credible local and international awards and recognitions received by Ekeh for his over three decades of leadership and pioneering entrepreneurship in the Information and Communications Technology (ICT) space in Africa, as well as his many enduring philanthropic and humanitarian legacies.

The Zinox boss was singled out for founding the most integrated ICT group in Africa with influence in four continents.

He was also honoured for pioneering e-Commerce, Desktop Publishing and Computer Graphics, Wireless Cloud and WiMAX, the first locally assembled and internationally certified computer brand – Zinox, digital dispensing pumps for fuel and gas stations as well as the biometric revolution for elections, among others in Africa.

LeoStan Ekeh, who has earned over 6o international and local awards over many years of incisive entrepreneurship, was equally singled out and honoured by President Olusegun Obasanjo on the occasion of Nigeria’s Independence Anniversary on October 1st, 2001 with an ICON OF HOPE award as a pride to modern Nigeria and as a model for Nigerian youths.

Again, President Obasanjo honoured him with another national award – the Order of the Federal Republic (OFR) in 2003.

A Fellow of the Nigeria Computer Society, the umbrella body of all computer associations in Nigeria, he was also awarded the pioneer ICT Personality of the Year by this professional body.

In November 2019, Ekeh was honoured by President Muhammadu Buhari with the National Productivity Order of Merit award for his sustained leadership in the area of Information and Communications Technology (ICT). With over four Doctorate Degrees (Honorary) and fifteen fellowships from recognized institutions and as a former global advisor to Microsoft, the leadership of Forbes praised his outstanding entrepreneurship.

In his acceptance speech, Ekeh expressed gratitude to Forbes and the Foreign Investment Network (FIN) for the recognition. Also, he reaffirmed his often-stated interest in technology as a game-changer, while also expressing his passion for humanity which he revealed is driven by access to education and quality health.

Further, he appreciated Nigerians and her leadership and Africans by extension for trusting him and his colleagues’ ingenuity across his technology group.

Ekeh said: ‘‘The 21st Century is one in which the impact of technology in the affairs of nations and in the lives of individuals cannot be wished away.

“Indeed, the world is currently a technology-mediated global village, with technology remaining, as I have often stated in some of my public talks, arguably the only profession in the world today that can transform an indigent child or youth into the richest person in the world.

‘‘With the Zinox Group, which includes over eight successful entities across verticals in the technology space, we have been able to bring to reality the power of technology in transforming lives, ushering many into the digital ecosystem and solving complex problems.

‘‘I must also not fail to mention the Konga Group, an e-Commerce platform which was acquired by Zinox in 2018 and which today, has grown into the leading player on the African continent.

“Through these companies, we have provided meaningful direct employment opportunities for over 5000 people and over 250,000 indirect employment opportunities for individuals, merchants and other beneficiaries.

‘‘If I had not made the decision to return to my first love –  technology – after my educational sojourn abroad, I doubt I would have been able to contribute my little quota in reshaping the lives of thousands of African youths as we have done today,’’ he enthused.

The Forbes Best of Africa Awards 2021 aims to recognize and reward change-makers, individuals and organizations that have made remarkable difference on the African continent, improving the lives of millions across the region in the areas of entrepreneurship, technology, leadership, vision and influence despite the challenges posed by the COVID-19 pandemic.

Among the dignitaries that graced the occasion was the Vice President, Prof. Yemi Osinbajo (SAN) represented by the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo and the King of Lesotho Kingdom, His Majesty Letsie III David Mohato Seeiso, among others.

Other awardees include renowned cleric and Metropolitan Senior Pastor of House on the Rock, Pastor Paul Adefarasin; Founder and Executive Chairman of Online Integrated Solutions Ltd (OIS), Mahmood Ahmadu; Ghanaian industrialist and philanthropist, Nana Kwame Bediako; South African businesswoman and philanthropist, Wendy Ackerman; Lesotho’s leading business magnate, Sam Matekane; Zimbabwean businessman, Ken Sharpe; Rwandan Minister of Infrastructure, Clever Gatete; Zambian-based business magnate, Dr. Rajan Mahtani and Group Chairman, FIN, Mrs. Olayinka Fayomi.


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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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