AGP Executive Report
Last update: 5 hours agoFuel Subsidy Debate: NRS boss Zacch Adedeji says subsidy removal was “the best thing” for Nigeria, arguing the bill was unsustainable and could have pushed the naira to about N3,500/$ and the subsidy cost to N53trn. Tax Reform: Adedeji also insists Nigeria’s tax reforms target “the fruit, not the seed,” defending reforms as pro-growth rather than extraction. Roads & Security: FG inaugurated Coastal Highway Guards to protect the Lagos-Calabar Coastal Highway from vandalism and illegal occupation, while Tinubu/Umahi flagged repairs and warned against hawking, tricycles and motorcycles on the route; 147 structures may be affected. Infrastructure Funding: SEC DG Emomotimi Agama urged FCTA to use capital markets—bonds, REITs and asset recycling—to finance Abuja projects beyond annual budgets. Power & Grid Safety: TCN reported a 330kV tower collapse in Delta that crushed a suspected vandal, highlighting ongoing sabotage risks. Capital Markets: Nigeria’s market cap rose above N217trn (May 2026), with SEC pushing long-term financing for infrastructure. Energy Finance Stress: Geregu Power defaulted on bond obligations, triggering credit default classification and investor concern. Drug Enforcement: NDLEA arrested an Italy-based Nigerian after he ingested 98 wraps of cocaine at Enugu airport. Tobacco Policy: ATIM urged NASS to reconsider proposed Tobacco Act amendments, warning they could weaken Nigeria’s tobacco control gains. Local Manufacturing Skills: ITF and Enugu State agreed to set up a Digital Fabrication Centre to boost innovation and local production.
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