AGP Executive Report
Last update: an hour agoMethane Rules Clash: US, Qatar, Nigeria and Algeria urged the EU to pause or amend planned methane monitoring rules for 2027 fuel imports, warning compliance paths are “not viable” and could disrupt European supply. Oil & Gas Security: NUPRC and the Ministry of Defence agreed a non-kinetic security framework to protect critical upstream infrastructure as Nigeria targets higher crude output amid theft and vandalism. Fuel Prices Bite: NBS data showed petrol averaging ₦1,596.25/litre in May 2026 (+55.31% y/y), with minimum wage (₦70,000) buying about 44 litres—while diesel rose to ₦3,277.47/litre (+86.40% y/y). Industrial & Trade Moves: NCGC and SMEDAN signed an MoU to expand MSME access to credit guarantees; Nigeria also certified 131 firms under the African Quality Mark to boost AfCFTA competitiveness. Customs Crackdown: Nigeria Customs seized contraband worth over ₦273.7m in Cross River, including foreign refined vegetable oil and used tyres. Energy Transition: REA plans more solar capacity, including a 504kW mini-grid in Epe and an additional 5MW deployment. Solid Minerals Push: FG announced a world-class polymetallic mineral province in Kaduna with platinum, gold, lithium and rare earths. Construction Sector: Julius Berger Nigeria shareholders approved ₦6.8bn dividend payout as profits and revenue surged. Education & Health: DUFUTH marked four years of its pioneer CMD with stakeholders praising service expansion; SSANIP threatened an indefinite strike over unpaid arrears and insecurity in polytechnics.
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