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World Bank Provides $465M for Energy Expansion in West Africa

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The World Bank Group is extending $465 million to support the Economic Community of West African States (ECOWAS) expand access to grid electricity to over 1 million people.

The fund will help the subregion enhance power system stability for another 3.5 million people, and increase renewable energy integration in the West Africa Power Pool (WAPP).

The new Regional Electricity Access and Battery-Energy Storage Technologies (BEST) Project -approved by the World Bank Group for a total amount of $465 million- will increase grid connections in fragile areas of the Sahel, build the capacity of the ECOWAS Regional Electricity Regulatory Authority (ERERA), and strengthen the WAPP’s network operation with battery-energy storage technologies infrastructure.

This is a pioneering move that makes way for increased renewable energy generation, transmission, and investment across the region.

‘West Africa is on the cusp of a regional power market that promises significant development benefits and potential for private sector participation,’ stated Charles Cormier, Practice Manager in the Energy Global Practice at the World Bank.

‘Bringing electricity to more households and businesses, improving reliability, and harnessing the region’s substantial renewable energy resources-day or night-will help accelerate West Africa’s economic and social transformation.’

Over the past decade, the World Bank has financed close to $2.3 billion of investments in infrastructure and reforms in support of WAPP, considered the key to achieving universal access to electricity by 2030 in the 15 ECOWAS countries.

This new project builds on progress and will finance civil works to accelerate access in Mauritania, Niger, and Senegal.

In Mauritania, rural electrification will be expanded through grid densification of existing substations, which will enable the electrification of Boghe, Kaedi and Selibaby, and neighboring villages along the Southern border with Senegal.

Communities in Niger’s River and Central East regions that live near Niger-Nigeria interconnector will also gain grid access, as will communities around substations in Senegal’s Casamance area.

Connection charges will be partially subsidized, which will help keep costs down for the estimated 1 million people expected to benefit.

In Côte d’Ivoire, Niger, and eventually Mali, the project will finance BEST equipment to improve the stability of the regional electricity network by increasing the energy reserve in these countries and facilitating integration of variable renewable energy.

Battery-energy storage technologies will enable WAPP operators to store renewable energy generated at non-peak hours and dispatch it during peak demand, instead of relying on more carbon-intensive generation technology when the demand is high, the sun is not shining, or the wind is not blowing.

It is expected that the BEST will further spur private sector participation in the region by supporting the market for renewable energy, as the battery-energy storage capacity installed under this project will be able to accommodate the 793 MW of new solar power capacity that WAPP plans to develop in the three countries.

‘These ambitious results will be achieved through a regional approach,’ said Ms. Deborah Wetzel, World Bank Director of Regional Integration for Sub-Saharan Africa, the Middle East, and Northern Africa.

‘By working together, these countries can optimize investments and economies of scale, harmonize equipment and standards, and synchronize systems to deliver the transformative power of electricity to more people and usher in a new era of low-carbon energy trade.’

The World Bank’s International Development Association, IDA, established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives.

The IDA is one of the largest sources of assistance for the world’s 76 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to the 1.5 billion people who live in IDA countries. Since 1960, IDA has supported development work in 113 countries.

Annual commitments have averaged about $18 billion over the last three years, with about 54 percent going to Africa.


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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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