AGP Executive Report
Last update: 10 hours agoOil and Gas: NNPCL says it remitted ₦9.48trn to the federation account from January to August, while crude and condensate output rose to 1.69 million barrels per day. Nigeria also met its OPEC crude quota for a fifth straight month in September. Gas Distribution: Shell has agreed to sell its Nigerian gas network to local firm Vaaris Energy. The 170km system supplies more than 130 industrial and commercial customers; the deal awaits regulatory approval. Refining: Dangote Refinery reported unaudited revenue of $22.5bn and profit of $4.7bn for nine months, with higher output and exports driving growth. Trade and Investment: The National Single Window has processed 156,026 import permits since March, with duty-exemption applications set to join the platform. Separately, the government is pitching 65 projects across sectors to investors as it targets 7% economic growth by 2027/28. Energy Costs: The IMF urged Nigeria to avoid restoring blanket petrol subsidies and use targeted support for vulnerable households instead.
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