AGP Executive Report
Last update: 10 hours agoCement Expansion: Dangote Cement and Sinoma signed an $800m MoU to double the Itori plant’s capacity to 12MTPA, boosting local supply and exports. Power Sector Reset: FG plans fresh investment to stabilise the national grid—reinforcing transmission corridors, adding redundancy and upgrading control systems—via a Grid Stabilization Technical Working Committee. Insurance Recapitalisation: NAICOM confirmed 43 insurers and reinsurers met NIIRA 2025 minimum capital requirements after a year-long recapitalisation, with over ₦300bn injected into the sector. Development Finance Gap: CPPE renewed calls to reform Nigeria’s development-finance architecture, citing a real-sector funding gap above ₦50tn driven by high rates, short tenors and collateral stress. Women Entrepreneurship: FirstBank awarded ₦10m through the Spark A Gem Challenge (356 applications; 8 finalists), with Onyinye Obayi taking the ₦5m top prize. Oil & Gas Local Content: NCDMB commissioned a Bauchi LPG plant with Butane Energy to deepen gas use and expand cleaner cooking fuel access. Aviation Update: FAAN clarified there was no fire at Lagos Airport Terminal 2; smoke came from the FM-200 suppression system. Digital Finance Trust: CBN urged fintech growth to deliver reliable, secure, fair and accessible services, with clear charges and strong fraud controls. Security: Gunmen kidnapped at least 52 people in Zamfara during an attack on a village and military base.
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