News
Nigeria heads AU Ministers Bureau on ICT
John Odey, minister of Information and Communications, has in Cairo, Egypt, emerged the chairperson of the Bureau of African Ministers of Communications and Information Technologies under the auspices of the African Union Commission.
The election of Mr. Odey took place at the conference of African Ministers of ICT which took place at Fairmont Hotel, Cairo, alongside the ITU Telecom Africa 2008 at the Cairo International Conference and Exhibition Center, CICC, marks recognition of Nigeria’s influence and current standing ICT performance in the sub-region.
Odey expressed gratitude to the African Minister for the confidence reposed on Nigeria to occupy such position. He spoke through Engr. Ernest Ndukwe, executive vice chairman and chief executive of the Nigerian Communications Commission (NCC) who represented him at the World Press Conference at the ITU Africa 2008 event, before he later visited the Nigerian Pavilion where he interacted with the Nigerian officials and representatives of the public and private companies which took stands at the pavilion.
He also visited the Egyptian Pavilion and some other booths belonging to key ICT service providers.
At the earlier press conference, the minister told the world press that Nigeria is one of the most liberalized telecommunications market in the continent. According to him, the sector liberalization efforts in Nigeria, accentuated by an enabling environment provided by government, and a fair and transparent telecommunications regulatory processes, accounts for the appreciable level of telephone penetration with the current teledensity at 32.8 per cent
The minister said Nigeria has, in the last seven years, witnessed one of the fastest rates of growth in the world at the current 46 million active subscribers as at March 2008 compared with only 400,000 in 2000. The teledensity has sharply increased from 0.4per cent to 32.8per cent.
"With a population of 140 million people, Nigeria still has very huge capacity to absorb the growth and expansion being currently witnessed in the sector.
Having experienced the huge advantages of liberalization, Nigeria will continue to promote open market policies in the sector to deepen the growth and penetration of telecommunications services. The present government in Nigeria is pursuing a programme of collective multi-sector economic growth tagged
"Vision 2020", designed to position our nation among the league of 20 most robust and vibrant economies of the world by year 2020. The roles that telecommunications and information technologies are bound to play in realizing this dream is not lost on us.
The Minister said at 46 million connected lines, there is still a very huge market, and is also committed to exploring new telecommunications and information technologies like Internet and broadband access.
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.
E-Financial1 day agoHere Are Nigerian Banks That Have Secured Their Licences
E-Financial1 day agoZenith Bank Top Nigerian Bank Pick Ahead of GTCO, AccessCorp
Telecom1 day agoMTN CEO Toriola Hails Nigeria’s Telecom Transformation at MIPAD
News1 day agoICPC Charges Ozekhome with Forgery, Corruption Over London Property
E-Financial1 day agoNigeria Processed $92.1Bn Crypto Transactions in 12 Months — PwC
Telecom1 day agoLebara Launches Agent Registration Portal
E-Financial1 day agoHow Crypto Criminals Stole $700m from People – often Using Age-Old Tricks
E-Business1 day agoElon Musk Seeks $134Bn from OpenAI, Microsoft for ‘Wrongful Gains’












