General News
Top 3 Trends in Economy, Finance and Trade for 2015

2015 will see the global economy grow at its fastest-rate in three years. The acceleration is built on stronger growth in the USA. The low oil price looks likely to be a feature of the year as does the weak recovery in the Eurozone which risks fizzling out all together with the spectre of deflation hanging over the region.
Overall, the outlook for the global economy continues to be uncertain as risks remain pronounced.
From peak to weak oil
In December 2014 the oil price fell to below US$65 per barrel and in 2015 we are forecasting US$82.0 (Europe Brent Spot Price) for the year as a whole.
The low price is down to an excess of supply over demand as the US and Canada have become large producers and supplies (unusually) have not been affected by the turmoil in the Middle East.
This has come at a time of subdued demand due to the economic slowdown in the Eurozone and the manufacturing slowdown in China.
There will of course be winners, losers and those that break even from the low price. Winners are the large oil importing countries such as India and Japan.
Losers will be the major oil producers, including the Gulf States but more notably those suffering from other economic problems such as Russia and Venezuela.
Russia is over-reliant on energy resources and a low oil price will add to its economic woes and is already weakening the rouble.
Countries that import oil at the same time as producing their own may find the low price offsets itself. China is one example.
In addition Canada and the US may find that extracting their supplies becomes less and less cost-effective.
US resurgent
We are forecasting a strong year for the US economy, with real GDP growth currently estimated to come in at 3.3%.
This will be the strongest rate of growth for 10 years and with it the USA will be a significant contributor to global economic growth. Its relatively small export sector (exports accounted for 9.4% of GDP in 2013) enable it to withstand global economic conditions to some extent. In particular, according to the OECD, it is more insulated from a Eurozone slowdown than other major economies such as Japan and the UK.
The situation is not all rosy though – in particular wages are stagnating despite an increasingly strengthening labour market. In 2014 we estimate that the average wage per hour remained unchanged in real terms over 2013 and we forecast a rise of just 0.9% in 2015.
This contributes some fragility to the recovery, as wage growth is needed to drive consumer expenditure. It also adds complexity to the Fed’s debate on when to raise interest rates.
Eurozone in the doldrums (again)
The second half of 2014 and 2015 brings a sense of déjà vu with regards to the economic situation facing the Eurozone.
In 2015 we are forecasting real GDP growth of 1.1%. The region is suffering from subdued productivity growth, high unemployment and is weighed down by debt. We are not currently expecting the Eurozone economy to shrink but we are expecting growth to be anaemic at best.
This time the situation is compounded by lowflation and the threat of deflation which haunts the currency bloc.
In November 2014 inflation fell back to a five year low of 0.3%. In 2015 we are forecasting inflation of 0.6% in the Eurozone, with major economies such as Spain and Italy coming in at just 0.0%. Deflation is a concern as it increases the debt burden, suppresses investment and consumer spending, with business unsure of ROI and consumers holding off for lower prices.
This can quickly spiral into a vicious circle and fears are that the Eurozone could face a Japanese-style lost decade.
Up in the air
These are three trends amongst many to watch in 2015 including further geopolitical tensions, the birth of new economic groups – ASEAN’s AEC and the Eurasian Economic Union, sluggish trade growth and the strong US dollar. 2015 should see another incremental step towards a stronger global economy, but the recovery remains fragile and risks are such that there remains a danger that it could be derailed.
General News
NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

NigComSat-1R, a Nigerian geostationary communications satellite will outlive its usefulness this year, meaning that the satellite will expire anytime now.

NigComSat-1R was launched by China Great Wall Industry Corporation (CGWIC) for Nigeria on December 19, 2011, as a replacement for the failed NigComSat-1.
NigComSat-1 which was put in the orbit in May 2007, was de-orbited in November 2008 following the development of power fault.
It was replaced with NigComSat-1R by the same company and has a lifespan of 15 years.
Positioned at 42.5°E, it provides C, Ku, Ka, and L-band services across Africa, Europe, and parts of Asia for broadcasting and internet.
Should the satellite fail, support for television broadcasting, internet connectivity, and secure communications for government and private sectors, may be affected.
The satellite is currently been controlled from China since 2019 following technical issues with the Abuja control station.
NigComSat-1R is currently the only active communications satellite managed by NIGCOMSAT Limited, though it operates alongside other Nigerian observation satellites.
General News
Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

Federal government has declared Thursday, March 19, and Friday, March 20, as public holidays to mark this year’s Eid-ul-Fitr celebration.

Consequently, banks, schools and offices nationwide will be shut for the two days.
The declaration was made by Olubunmi Tunji-Ojo, minister of Interior, on behalf of the government, according to a statement issued on Tuesday, by Magdalene Ajani, permanent secretary of the ministry.
Eid-el-Fitr, meaning ‘festival of breaking the fast,’ is one of the most important feasts in Islam.
The festival marks the end of Ramadan, a sacred month of fasting, prayer, and spiritual reflection observed by Muslims worldwide.
During Ramadan, Muslims fast from dawn to sunset, abstaining from food, drink, and other physical needs as an act of devotion to Allah.
Eid-el-Fitr is a time of joy and gratitude, beginning with a special congregational prayer at mosques and open prayer grounds.
It is also marked by feasting, gift-giving, and charitable acts, particularly the giving of Zakat al-Fitr, a mandatory charity given to the less privileged before the Eid prayer.
Congratulating Muslim faithful on the successful completion of Ramadan, Tunji-Ojo urged them to sustain the virtues of love, generosity, peace, tolerance, and sacrifice imbibed during the period.
He also called on Nigerians to use the festive season to pray for the peace, unity, and continued development of the country.
The minister further encouraged citizens to celebrate responsibly and extend acts of kindness to the less privileged, in line with the spirit of the season.
He reiterated the Federal Government’s commitment to promoting national unity and peaceful coexistence among all Nigerians.
General News
New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

Residents of Akute and surrounding communities now have direct access to world-class technology training following the launch of a new retail center by New Horizons Nigeria.

Mr. Tim Akano
The newly commissioned center, strategically located in Akute, is expected to serve learners and professionals across Alagbado, Ajuwon, Matogun, Lambe, Ojodu-Berger, Isheri, Giwa, Iju-Ishaga, Ishasi, and Oke-Aro.
This initiative has brought internationally recognized ICT training closer to thousands of young people and working adults. For years, distance and accessibility have limited many aspiring tech professionals from enrolling in structured, global-standard programs. With this expansion, residents no longer need to travel long distances to acquire in-demand digital skills.
New Horizons Nigeria, widely recognized as Africa’s largest ICT training organization, continues to strengthen its footprint in Nigeria’s digital education sector.
In 2025, the institution received the prestigious Best ICT Training Company award from CompTIA in South Africa. This further reinforce its leadership position within the continent’s technology training ecosystem.
As a franchise of New Horizons International, which operates in over 90 countries across six continents, the organization has consistently aligned with global best practices while addressing local capacity gaps.
The organization currently provides ICT training services to more than 30 universities and nearly 200 high schools nationwide.
The center would be used for the training of high-end technical courses like Cyber Security, Web Development, Artificial intelligence, Full Stack, Graphics and CompTIA courses like Hardware, Network and Security Plus.
New Horizons trains over 100,000 students yearly across 27 universities and 150 secondary schools, as well as corporate organizations, government agencies and retail offices.
Students trained by New Horizons Nigeria are always well-sought after in the labour market after graduation and the certificate they obtain are recognized in all the 90 countries where New Horizons have offices.
Speaking on the broader vision behind the expansion, the Founder and Chief Executive Officer, Mr. Tim Akano, emphasized that the future of the nation’s economy depends largely on accessible and practical tech education.
He noted that in today’s digital economy, virtually 100 percent of jobs require some level of IT skill, regardless of one’s field of study. From finance and healthcare to agriculture, media, engineering and public administration, technology now drives productivity and competitiveness.
He further stated that IT has evolved from being a specialized field to becoming a foundational requirement for career growth and wealth creation. Acquiring digital skills, he stressed, remains one of the most strategic pathways to higher earning potential and long-term financial stability.
Furthermore, he stated that young Nigerians considering relocation abroad need to prioritize acquiring IT skills before traveling.
He asserted that obtaining internationally relevant technology training outside Nigeria is significantly more expensive than enrolling locally.
By gaining these skills locally, individuals position themselves for better opportunities overseas. Rather than struggling to survive in low-paying or unrelated jobs, they can compete as skilled professionals in global labour markets.
Also, holding a globally recognized certifications from New Horizons Nigeria gives candidates a competitive edge, and enhances their credibility and employability abroad.
As of January 2026, New Horizons Nigeria and its CEO have collectively received over 320 national, continental, and international awards, making them one of the most decorated institutions and individuals in Nigeria’s technology, entrepreneurship, and youth empowerment space.
The launch of the Akute retail center signals more than physical expansion; it represents a deliberate effort to democratize access to technology education at the grassroots level. With increasing demand for skills in cybersecurity, cloud computing, artificial intelligence, software development, and digital business solutions, the new center is positioned to become a hub for digital transformation within Ogun State and its border communities.
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