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Konga Partners LASG on Second MSMEs Exclusive Fair

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Konga.com, has again demonstrated its commitment as a company that employees, customers & society are proud of and depend on as it deepens commerce and trade in Africa by supporting and empowering Micro Small & Medium Enterprises through its collaboration with Lagos State government to host the second Micro Small & Medium Entreprises Exclusive Fair in Lagos which held from the 28th August to 2nd September, 2017.

Declaring the Fair open, Akinwunmi Ambode, Governor of Lagos State, who was represented by Mr. Tunji Bello, the secretary to the State Government, described MSMEs as the catalyst to industrialization drive.

The Governor acknowledged the importance of MSMEs to the Nigerian economy with the Fair increasing global visibility, productivity and profitability of goods locally made in Lagos.

He stated that government will continue to formulate policies that will enhance the productivity of all businesses in Lagos and charged entrepreneurs to take advantage of such in scaling up.

Shola Adekoya, CEO of Konga Online Shopping Limited while highlighting some of the things that Konga.com brings to the table of this strategic collaboration with Lagos State government for the second year running said “It’s in Konga’s DNA to be the engine of trade and commerce in Africa by empowering MSMEs to move their businesses to the next level in the smart world.”

He identified four key areas to buttress this saying “Firstly, advertising and marketing helps get your products to many eye balls and with the millions of site visits that Konga enjoys, these MSMEs can take advantage of that to get their products to more people on the platform thereby reaching a wider market across the nation.

“Secondly, with CBN and more people clamoring for cashless system, it has become expedient for entrepreneurs to leverage on KongaPay to accept payment easily both online and offline. With Konga’s warehouses being opened up to MSMEs, you don’t get limited by the space that you have as we can now provide warehousing and logistics for you to ship across the whole of Nigeria with full insurance policy.”

Prince Rotimi Ogunleye, Lagos State Commissioner for Commerce, Industry and Cooperatives, also reiterated the benefits derived from the support of Konga last year stating “The partnership with Konga provided the avenue for exhibitors who listed on Konga platform to gain market access and global visibility which gave them opportunity to scale up. The MSME Exclusive Fair is to compliment the purchase made-in-Lagos campaign as it promotes small scale production for economic growth and employment generation for all Nigerians.”

With the MSME Exclusive Fair, Konga is poised to help MSMEs match with the fast changing technology by providing platforms that showcases their products to the entire world with just a click. Konga is providing a platform for MSMEs to sell, a payment solution that their business needs, warehousing and logistics solution that moves their goods all over the country.

Konga.com is Nigeria’s largest online mall. The company launched in July 2012 with a mission, ‘To Become the Engine of Commerce and Trade in Africa’. The company has recorded very rapid growth and in just 5 years, konga.com has built an operation that leads the market in customer satisfaction, merchandise shipped and innovation.

Konga began operations as a first party retailer investing in inventory and infrastructure to support the birth of ecommerce in the region.

The company has now evolved to become Nigeria’s most vibrant online marketplace with close to 30,000 merchants registered and selling on the platform.

With over 200,000 products listed on the site, spanning various categories including Phones, Computers, Clothing, Shoes, Home Appliances, Books, healthcare, Baby Products, personal care and much more; Konga is Nigeria’s largest online marketplace.


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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

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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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