AGP Executive Report
Last update: 7 hours agoEnergy: NNPC says September oil and gas output rose to 3.04 million barrels of oil equivalent per day, while crude production reached about 1.8 million barrels per day. The company is also considering a 5–10% share sale, with Nigerian investors prioritised. Industrial Finance: Bank of Industry and IFC signed a $50 million, seven-year loan to expand MSME financing; at least a quarter will support women-owned businesses. Power and Manufacturing: BUA Cement, Nigerian Breweries and other firms secured permits for 54.94MW of captive power in the first half, highlighting the cost of unreliable grid supply. Manufacturers also warn high interest rates threaten industrial growth. Trade and Agriculture: Nigeria’s exports rose 25% in two years, according to the Nigerian Ports Authority. Forty tertiary institutions are set to access ₦1 billion to ₦2 billion each for commercial farming, while Bayelsa has restarted large-scale fish production. Investment: Afreximbank approved $81.9 million for a Nigerian tile maker’s Ogun expansion, and Nigeria is seeking Spanish expertise to strengthen local footwear manufacturing.
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