AGP Executive Report
Last update: 8 hours agoEnergy & Industry: Hope is building for Nigeria’s Warri Refining and Petrochemicals Company as Chinese engineers begin a technical assessment under NNPCL’s framework with partners, aiming to revive commercial operations and strengthen domestic refining. Oil Pricing Reality Check: Africa’s largest refinery says falling crude prices don’t instantly cut petrol costs because crude is bought on contracts tied to monthly averages, not daily benchmarks. Power Sector: Despite huge metering efforts, 5.1 million electricity customers remain on estimated billing, highlighting the metering deficit and ongoing billing disputes. Banking & Capital Markets: Buoyed by CBN reforms and strong earnings, the market capitalisation of 12 listed banks hit N22.5tn in H1 2026, with GTCO and Zenith leading gains. Roads & Trade Security: Tinubu flags off Dikwa–Gamboru Ngala and Bama–Banki road projects to boost cross-border trade, agriculture movement and security in the North-East. Food Security: Peter Obi blames insecurity and poor governance for northern Nigeria’s worsening hunger crisis, warning the situation could deepen without securing agricultural corridors. Governance & Fiscal Transparency: Atiku and Obi renew pressure over an IMF-linked claim of unrecorded N8.8tn public spending, calling for EFCC/ICPC probes. Flood Management: Lagos intensifies drainage restoration and enforcement against encroachment to reduce flooding impacts. STEM & Skills: STEM Africa Fest targets 25,000 more young innovators across Africa with practical science and tech learning.
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