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Vegahs Appoints Brand Ambassador, Wins Endorsement from Ooni of Ife

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Sitting (R) H.R.H. Oba Adeyeye Enitan Ogunwusi Ojaja II, Ooni of Ife. (L) Mr. Chinedu Amadi, Operations Director, VEGAHs. Standing Mr. Hafiz Agoro, Nigeria's tallest man and Brand Ambassador for VEGAHs.
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The Board and Management of VEGAHs, Nigeria’s Most Innovative Estate Tech Company has paid a courtesy visit to the Ooni of Ife H.R.H. Oba Adeyeye Enitan Ogunwusi Ojaja II, in his palace.

Vegahs Appoints Brand Ambassador, Wins Endorsement from Ooni of Ife

Sitting (R) H.R.H. Oba Adeyeye Enitan Ogunwusi Ojaja II, Ooni of Ife. (L) Mr. Chinedu Amadi, Operations Director, VEGAHs. Standing Mr. Hafiz Agoro, Nigeria’s tallest man and Brand Ambassador for VEGAHs.

The visit, led by Mr. Chinedu Amadi, operations director, VEGAHs, was aimed at informing the Royal Father of developments in the Property and Estate sectors to enable the Ooni, a major stake holder, to keep pace with the trend.

The Operations Director informed H.R.H. the Ooni of Ife that at VEGAHs estate management has integrated with the communities as against being a detached body of business.

At VEGAHs, he said the ownership of community land has translated to the ownership of modern estates. In the spirit of this trend everyone in the community owns a modern home and actively participates in and enjoys the yields from the business of estate management.

This is in fulfillment of the VEGAHs vision that all men must reap from the wealth of the land and its management. At VEGAHs we run many schemes designed to ensure that tenants, workers, self-employed become home owners.

This category of Nigerians are encouraged to save little sums of money monthly. In a couple of years an individual could make a deposit for the purchase of land or is encouraged to buy it completely. Often salary earners are encouraged to join the VEGAHs cooperative that enables good savings and guarantees loans to start or complete a building.

A highpoint of this visit was the appointment of Nigeria’s tallest man, Mr. Hafiz Agoro, as the VEGAHs Brand Ambassador.

Mr. Chinedu Amadi said that the choice of Mr. Hafiz Agoro was based on his imposing stature, personality and reputation. He said that at 7 feet 4 inches Hafiz Agoro would represent the brand positively under many conditions while making an impact in marketing.

In his remarks, H.R.H. Oba Adeyeye Enitan Ogunwusi Ojaja II, Ooni of Ife expressed delight that the VEGAHs philosophy is people oriented, would help solve poverty and the housing deficit in Nigeria. Describing himself as a stake holder, the Ooni said that he would still participate in Estate management if time and office permit.

Oba Adeyeye Enitan Ogunwusi Ojaja II, Ooni of Ife endorsed VEGAHs as a professional Estate company and noted that the appointment of Hafiz Agoro as brand Ambassador was appropriate and would achieve its desired objectives. The Ooni said that he is looking forward to seeing Hafiz Agoro standing beside a bungalow soon.

While profusely thanking H.R.H for graciously granting him audience, Mr. Chinedu Amadi told the royal court of a more innovative level of the VEGAHs commitment – citizens in the diaspora, no matter where they live in the world, are encouraged to participate in the Pay as you Go scheme.

One can buy land in any of the choice Estates being built by VEGAHs and pay gradually until he completes a house of his choice. Many Nigerians living abroad have returned to collect keys of completed homes from VEGAHs. Even corporate organizations, NGOs, and SMEs have relied on the professionalism and integrity of VEGAHs to own their property.

 


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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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