AGP Executive Report
Last update: 8 hours agoDangote Refinery IPO: Aliko Dangote has officially opened the N2.15tn IPO of Dangote Petroleum Refinery and Petrochemicals on NGX, selling 4.1bn shares at N525 each (minimum N5,250 for 10 shares) with subscriptions running Sept. 14–Oct. 13, aiming to fund major expansion and broaden public ownership. Oil Output & OPEC Compliance: Nigeria’s crude oil and condensate production rose to 1.677m bpd in August (up 0.4%), marking a fourth straight month of meeting OPEC quota after operational bottlenecks like the Erha field’s single buoy mooring were resolved. Fuel Subsidy Politics: CPPE warns that bringing back universal petrol subsidy could cost Nigeria about N20tn annually, urging targeted support instead as petrol prices keep squeezing households and businesses. Power Sector Industrial Push: The Minister of Power, Joseph Tegbe, secured Chinese commitment to set up a power and energy equipment industrial park, targeting local manufacturing and unlocking over 2,000MW of stranded power. Telecom Expansion: NCC says telcos have deployed 8,526 of 12,179 planned network sites (about 70%), while also flagging rising disruptions linked to fibre cuts and stressing stronger network resilience. Shipping Trade Boost: The US says lifting the 12-year security restriction on Nigerian-flagged vessels will cut shipping costs and improve turnaround times, citing improved port security and anti-terror compliance. Housing Delivery: REDAN Abuja reiterates efforts to cut Nigeria’s housing deficit, highlighting a 2,400-unit estate project with flexible payment plans and mortgage partnerships. Clean Energy for Communities: BLUETTI and UN-Habitat expand their LAAF programme in Benue with solar workshops and donated lighting kits for underserved households. SME Support Across Africa: Stanbic Bank Zimbabwe launches the Standard Bank Africa Business Awards, with categories spanning agriculture, construction, FMCG/retail, manufacturing, women in business and youth-owned firms.
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