AGP Executive Report

Power & Grid Expansion: TCN has handed site access to Mainstream Energy Solutions to build two 330kV evacuation bays at Kainji, targeting 2x330kV bays to evacuate 220MW from new 110MW turbines by December. Payments Security: The CBN says it will deploy AI under its Nigeria Payments System Vision 2028 to curb fraud, cyber threats, identity theft and unauthorised transactions. Oil & Gas Regulation: NUPRC and NNRA plan a single-window regulatory system to cut duplicate filings, reduce fees and strengthen radiological oversight in upstream operations. Renewables & Women Finance: Bank of Industry wins continental awards for DARES solar mini-grid financing and its GLOW guaranteed loans for women. Ports Decarbonisation: Stevedoring operators urge an efficiency-driven green transition for Nigerian ports, warning compliance must be funded and backed by an equipment upgrade roadmap. Energy Access Innovation: NERC rolls out net billing rules letting Nigerians earn from excess solar power sold to DisCos. Trade & Export Barriers: NACCIMA’s road trip to Togo flags delays, multiple checkpoints and non-tariff barriers hurting cross-border trade. Energy Cost Pressure: Nigeria’s cooking gas shortage is pushing LPG prices higher as more gas output is exported than supplied domestically. Governance & Economy: A court struck down the National Assembly’s ₦110bn vehicle and allowances spending as unlawful, citing procurement and accountability breaches. Business & Investment: Nigeria’s trade sector attracted $65.79m foreign capital in Q1 2026, up 91.31% year-on-year, as capital inflows hit $10.37bn. Security & Human Capital: Ogun students’ safety fears and wider insecurity concerns keep disrupting education and livelihoods, while the NAF launches aerial surveillance to rescue Oriire school pupils and teachers.

Banking Supervision: African central bank supervisors met in Yaounde to sharpen oversight for emerging risks like digital fraud, stablecoins, cyber and climate threats, warning that regulators must stay resilient as systemic and cross-border risks grow. Telecom Regulation Clash: Nigeria’s FCCPC denied reports that President Tinubu approved new airtime credit operators, saying DEON digital lending enforcement remains suspended by a Lagos court order pending July 20 hearing. Data Billing Row: MTN Nigeria defended its data billing and unveiled “Data on Trial” transparency steps, but CEO Karl Toriola’s claim that affordable “unlimited” data isn’t feasible sparked backlash and protest threats from Omoyele Sowore. Capital Markets: Nigerian equities extended losses, wiping ₦2.28tn as the NGX All-Share Index fell 1.44% amid broad profit-taking. Insurance Industry: SUPERNEWS announced Joyce Odiachi as chair for PILA’s July 7 investiture conference on local content and digitisation in oil & gas and insurance. Maritime & Fisheries: Nigeria said it will leverage the EU’s €59m WASOP to fight illegal fishing and boost Gulf of Guinea enforcement and ocean governance. Climate & Transport: Cross River launched a resilience plan for flooding and clean transport, including electric mass transit buses by 2027, while Dangote Cement scaled AI and telematics-backed road safety programmes. Security Update: The army rescued 360 Boko Haram abductees in Borno’s Mandara Mountains, though two infants died during evacuation.

Ebola Response in Mining Towns: Congo’s Ebola epicentre Mongbwalu is straining frontline health workers, who say they get little pay and rest as cases keep arriving from crowded gold-mining camps. Farmers-Herders Peace: KACRAN urges farmers and herders to protect farmlands, grazing reserves and cattle routes as insecurity, fuel costs and displacement threaten the 2026/2027 season and food security. Telecom Data Transparency: MTN holds a “Data on Trial” public session and plans a self-service data usage portal, promising N1trn network expansion while tackling complaints of rapid data depletion. Energy & Household Costs: Cooking gas prices jump to as high as ₦2,400/kg in parts of Nigeria, deepening pressure on already strained households. Road Safety Tech: FG plans CCTV and solar-powered surveillance along the Mararaba–Keffi Road as a pilot to improve highway security and emergency response. Banking Reform Boost: Nigeria’s Supreme Court clears the Providus–Unity merger, strengthening confidence in consolidation under the CBN recapitalisation push. Insurance Market Pressure: Listed insurers’ revenue falls 9.9% to N228bn in Q1 2026 despite improved profitability, highlighting low penetration. Food Security Aid: Thailand donates 12 metric tonnes of rice to Nigeria via WFP as insecurity could drive severe hunger for up to 34.7m people. Oil & Gas Investment Gap: Oil and gas attracted only $0.46m in foreign capital in Q1 2026 despite a big rise in total capital importation, showing persistent investor caution.

Security & Governance: Peter Obi faults the FG’s reactive insecurity moves, citing Tinubu’s reported approval to recruit about 1,000 forest guards for Oyo as piecemeal and calling for a national framework. Consumer & Telecom Regulation: WASPAN accuses FCCPC of expanding DEON digital lending approvals despite a court order and suspension, while MTN opens its data billing and network operations to public scrutiny to explain rapid data depletion drivers like streaming, auto-updates and hotspot sharing. Energy Transition & Power: REA will lead discussions at the 2026 Oriental News Conference on Nigeria’s renewable energy transition pathway, as NERC pushes net billing rules letting consumers sell excess solar power back to the grid. Mining & Enforcement: NYC backs Mining Marshals against illegal mining as enforcement capacity gets boosted; Akwa Ibom CSOs also demand disclosure and reversal of gas flare penalty remittances. Transport & Industry Costs: NRC says it’s running at a loss and borrowing to operate due to diesel costs. Business & Investment: Lagos pitches Invest Lagos 3.0 to attract about ₦4trn in fresh investments across infrastructure, tech, housing, agriculture and transport.

Airtime & Data Market Shake-up: Tinubu moves to dismantle Optasia’s 12-year dominance in Nigeria’s airtime credit and data advance market, following FCCPC recommendations—aimed at boosting local fintech competition and curbing capital flight in a sector said to be worth over N3trn annually. Security Crisis: Kidnapping and banditry remain the headline threat, with reports of abducted schoolchildren and teachers in Oyo, plus fresh attacks across states as troops repel insurgents in the north-east, underscoring the pressure on 2027 election security. FX Market Reform: The CBN’s revised Foreign Exchange Manual is framed as a rules-and-transparency reset to restore confidence, improve liquidity, and reduce opacity in FX access and settlement. Renewables & Power Trading: NERC’s net billing rules and related solar mini-grid guidelines push a new path for consumers to earn from excess solar power and connect to the grid. Pharma Localisation: PMG-MAN targets 70% local production of medicines, announcing the 2026 Nigeria Pharma Manufacturers Expo to drive medicine sovereignty. Humanitarian Logistics: DHL launches the DHL Academy of Humanitarian Logistics to train local responders on customs, dangerous goods handling, packaging and safety. Xenophobia Fallout: Nigeria ramps up repatriation efforts as over 1,000 Nigerians seek to return home amid escalating xenophobic tensions in South Africa.

Dangote Refinery Expansion: Dangote Petroleum Refinery & Petrochemicals says it has ramped crude processing to 700,000 bpd in a performance test, surpassing its 650,000 bpd nameplate and targeting 1.4m bpd within 30 months—aimed at cutting Nigeria’s refined fuel import dependence. Power & Solar Trading: NERC has rolled out net billing rules allowing Nigerians to earn from excess solar power sold back to DisCos, while also approving special compensation for Band A customers affected by grid shortfalls. Healthcare Infrastructure: NNPC Foundation commissioned a 1.5 Tesla MRI system for the National Orthopaedic Hospital in Kano to improve access and reduce delays for advanced diagnostics. Maritime Security: Nigeria’s proposed Coast Guard push is back in focus as stakeholders argue it’s the missing link to coordinate safety, enforcement and economic protection across the coastline. Flood Preparedness: NEMA flags high flood risks across 23 states and the FCT for the 2026 rainy season, urging early coordinated action. Human Rights & Cost of Living: HURIWA condemns a cooking gas price surge to as high as N2,000/kg as an economic cruelty and a human rights issue. Migration Tensions: Nigeria begins screening for voluntary repatriation of 1,000+ nationals from South Africa amid rising xenophobic hostility. Industry Tech Services: Smart Hands Africa adds Supermicro to its services portfolio, expanding installation, maintenance and break-fix support across multiple African markets including Nigeria.

Maritime & Ports: FG renewed its push to actualise the Agge Deep Sea Port in Bayelsa, saying it will boost trade, create jobs and attract investment into the Niger Delta and Nigeria’s blue economy. Energy & Power Regulation: NERC ordered Discos to compensate Band ‘A’ customers for February–March service shortfalls linked to gas supply constraints and vandalism, while regulators also warned a 2026 Electricity Act amendment could disrupt power sector decentralisation and undo billions in investment. Oil & Refining: Dangote Refinery hit 700,000 bpd in a performance ramp-up, positioning it to cut import dependence and strengthen Africa’s refining outlook. Digital Finance & Telecom: Nigeria’s banks are fighting back in digital payments as fintechs face tougher rules; meanwhile foreign capital into telecoms fell to a four-year low, despite tariff adjustments. Cyber & Digital Trust: Government plans a national cybersecurity coordination council as NDPC flags intensifying DDoS attacks. Agribusiness & Food Security: ECOWAS and partners launched a drive to mobilise investment for rice self-sufficiency by 2035. Industry & Business Climate: NESG said business confidence rose in May, with manufacturing and services improving, even as agriculture and some trade indicators stayed fragile. Shipping & Logistics: SAFEEN Drydocks secured major vessel construction contracts worth $354m, including Nigeria’s Oilbank Logistics support units. Public Health & Consumer Safety: CAPPA raised alarm over rising nicotine products targeting youth, urging urgent regulatory action.

Aquaculture & Food Security: A Blue Food Innovation Summit says Africa—especially Nigeria—could cut seafood imports (Nigeria reportedly imports $1bn–$2bn yearly) by scaling local production if feed, seed and infrastructure improve. Anti-Terror & Kidnapping Response: FG renewed the offensive in Oyo and Borno, promising rescue of abducted pupils and teachers, deploying a specialised rescue team and recruiting 1,000 forest guards. Energy Transition & Power Trading: FG signed MoUs with Ukrainian partners and 15 others to boost energy efficiency and renewables; NERC also moved to let Nigerians earn from excess solar power via new net billing rules. Maritime & Shipping Capacity: SAFEEN Drydocks won major contracts worth $354m, including 18 specialised marine support units for Nigeria’s Oilbank Logistics; NLNG’s Maritime Centre of Excellence gained UK Nautical Institute certification to expand seafarer training. Business Climate: NESG reports Nigeria’s business confidence index rose to 104.6 in May, but firms still face insecurity, power outages and high costs. Agriculture & Water: Sokoto is reviving Lugu Dam to restore irrigation and boost rice output; NEMA flagged 148 Jigawa communities as moderate flood-risk areas. Security on the Ground: Troops arrested suspected Boko Haram/ISWAP logistics suppliers in Borno, disrupting fuel supply chains.

Energy & Refining: Dangote’s 650,000bpd refinery says it has a jet-fuel surplus and is positioned to export globally, while planning a major expansion to more than double capacity by end-2028. Solid Minerals Enforcement: FG commissioned eight operational gun trucks for NSCDC Mining Marshals to intensify the crackdown on illegal mining, citing 300+ arrests and 150+ prosecutions since launch. Power Infrastructure: TCN confirms vandalism-led collapse of six 330kV transmission towers on the Apir–Lafia corridor, taking both lines out of service and disrupting supply. Oil & Environment: Rivers’ Aggah community appeals an Italian court dismissal over flooding claims tied to oil infrastructure operations by Eni/Oando. Agriculture & Food Security: COCEFAAA warns cocoa farmers face persistent price volatility that undermines livelihoods and investment across the value chain. Policy & Regulation: NUPRC says the 2026 oil licensing round will start in Q3 after Tinubu’s approval. Trade & Compliance: US proposes 12.5% tariffs on imports from countries failing to enforce forced-labour bans, including Nigeria. Capital Markets: Nigeria’s capital importation jumps to $10.37bn in Q1 2026, driven mainly by portfolio inflows. Shipping & Logistics: Lagos ports expect 34 vessels between June 4–6, including petroleum products and food cargoes.

US Tariff Threat: The Trump administration has proposed new forced-labour-linked tariffs of up to 12.5% on imports from 60 economies, including Nigeria, after a Section 301 probe—raising fresh supply-chain uncertainty for exporters. Manufacturing Pulse: Nigeria’s manufacturers led a business rebound in May as election spending lifted demand, even as costs kept rising. Power Market Reform: NERC has started Net Billing Regulation 2026, letting solar “prosumers” sell excess electricity to DisCos—aimed at boosting renewable uptake and easing grid pressure. Energy Security: TCN says six transmission towers on the Apir–Lafia 330kV line in Nasarawa were vandalised, disrupting power supply while repairs are planned. Housing Finance: Tinubu hailed MREIF’s ₦128bn affordable mortgages for 1,859 families across 25 states, pushing long-term homeownership access. Women & Jobs: RHI and WAOH empowered 3,300 Ekiti women with cash and tools for small businesses. Labour & Education: NLC backs a nationwide teachers’ strike over abductions, while Cross River unions demand suspension of a civil servants verification exercise. Mining Crackdown: FG warns against harassing NSCDC mining marshals as Nigeria Police release three detained officers linked to a mining marshals death case.

Education & Security: The Nigeria Union of Teachers (NUT) staged nationwide protests over the killing of a teacher and abduction of pupils in Oyo, urging urgent action to protect schools. Power & Utilities: NERC reports Discos collected N196.13bn in March from N246.43bn billed, with collection efficiency at 79.59% and about N50.3bn uncollected. Public Health: The House of Representatives raised alarm over NCDC funding gaps, warning Nigeria may be unprepared for an Ebola outbreak even as surveillance and border controls are intensified. Creative & Manufacturing Economy: Abia State moves to bid for UNESCO Creative City status for Aba and plans to honour the 1929 Aba Women Riot, pitching Aba’s fashion, leatherworks and indigenous manufacturing. Energy & Trade: Wilmar and TGI Group signed for a 50:50 JV spanning upstream agriculture, oil palm, edible oils, rice, food manufacturing and distribution across Nigeria and Benin. Finance & Policy: CBN redeployed four deputy governors effective 1 June, reshuffling key directorates to strengthen coordination and stability. Digital/Industry Finance: Lagos completes major road regeneration works across Ikeja GRA, Ikoyi and Lagos Island, aiming to restore connectivity and support local commerce. Global Business/Innovation: Nigeria officially hosts WIPO’s first Sub-Saharan Africa office in Abuja, pushing IP commercialization to boost innovation and jobs. Maritime/Logistics: Shippers’ Council settles the SIFAX and AGL Logistics dispute, a signal for smoother port and cargo operations.

Fuel & Downstream: Dangote Refinery may cut petrol and diesel loading prices again as Lagos depots undercut rates in a widening fuel price war, driven by higher product availability and imports. Security & Industry Impact: Kwara North elders warn that over 1,200 deaths from banditry and kidnappings are making political mobilisation nearly impossible ahead of 2027—an indirect hit to business confidence and labour stability. Consumer Credit Regulation: FCCPC suspended DEON Regulations 2025 after a Federal High Court order, easing pressure on airtime and data credit services used by about 40 million Nigerians. Energy Transition & Local Content: REA will lead talks on Nigeria’s renewable energy strategy at the Oriental News conference, while SUPERNEWS sets a July 7 event on local content and digitisation linking oil & gas with insurance. Payments & Inclusion: CBN launched Payments System Vision 2028, targeting 95% financial inclusion and faster digital transactions by 2028. Maritime/LNG: NLNG affiliate BGT awarded contracts for three new LNG vessels for delivery in 2029, supporting fleet modernisation. Logistics Costs: UNICEF warns Middle East war disruptions are delaying and inflating transport costs for lifesaving child aid, with some deliveries delayed for months. Housing Finance: Tinubu hailed MREIF’s N128bn affordable mortgages to 1,859 families across 25 states. Digital Commerce: Market2Home began operations in Abuja, launching a tech-led grocery and essentials marketplace focused on hygiene and standardised measurements. Capital Markets: Nigeria moves toward T+1 settlement as the capital market adopts a shorter cycle to boost efficiency.

Cybersecurity Alert: ISSAN warns that rising identity theft, mobile fraud, ransomware, phishing and BEC are now core business and national security risks, urging stronger digital defenses. Capital Markets Reform: Nigeria becomes Africa’s first market to adopt the T+1 settlement cycle, aiming to cut counterparty risk and boost investor confidence. Maritime Security: President Tinubu inaugurates three new naval vessels and a Combined Maritime Task Force for the Gulf of Guinea, targeting piracy and crude oil theft. Banking & Payments: CBN launches Payments System Vision 2028 to drive faster digital transactions, cut electronic fraud and push financial inclusion to 95%. Energy & Power: TCN extends maintenance on the Jos–Bauchi–Gombe 330kV line, warning of prolonged outages until June 30, 2026. Oil & Gas: NLNG subsidiary BGT awards contracts for three newbuild LNG vessels for cleaner, more efficient operations, delivery expected in 2029. Labour & Regulation: NUPRC staff begin an indefinite strike over foreign training, while the Federal Workers Forum threatens an indefinite nationwide action over wages and insecurity. Finance Sector Legal Update: Supreme Court sanctions the Providus–Unity Bank merger, ordering transfer of assets and closing related litigation.

Security & Accountability: Nigeria Integrity Watch tells SERAP to target terror financiers, not the Nigerian government, arguing that escalating the whole country’s security to the UN could harm ordinary Nigerians. Mining & Infrastructure Protection: NSCDC FCT Command arrests 14 alleged illegal miners and vandals, including suspects accused of digging out armoured cables and vandalising road crash barriers. Telecom Regulation: FCCPC restores airtime credit services after pausing certain lending rules; ALTON says services are back for millions of prepaid users. Digital Economy: CBN unveils Payments System Vision 2028 (PSV 2028) to deepen digital payments, inclusion and trade. Energy & Industry: A dispute over gas distribution rights stalls a planned $100m Ogere–Ibadan pipeline for manufacturing clusters, with regulators mediating. Agribusiness & Nutrition: FG launches a National Dairy Policy Implementation Framework to boost local milk production, processing, cold chain and ranch infrastructure. Finance & Banking: Alpha Morgan Bank reports N1.9bn PBT in its first 10 months, citing deposits growth and zero NPL ratio. Maritime & Trade: WISTA Nigeria announces its 8th Africa conference in Lagos, spotlighting blue economy, energy transition and logistics. Consumer & Downstream Fuel: Private depots cut petrol prices following Dangote’s latest reduction, intensifying competition.

Labour & Security: Federal workers threaten an indefinite nationwide strike over unpaid wage issues and worsening insecurity, while Oyo’s NUT shuts schools and begins an indefinite strike from June 1 over the abduction of teachers and pupils. Energy Costs & Industry Impact: MTN says it spends over ₦60bn yearly on diesel to keep its network running amid unreliable power, and cooking gas prices hit as high as ₦2,000/kg despite improved domestic LPG supply. Policy & Payments: CBN widens PoS geo-fencing radius from 10m to 70m and shifts compliance deadline to August 1, easing operational pressure on banks and fintechs. Finance & Credit: Alliance for Economic Research and Ethics warns of a ₦14tn private-sector lending contraction and a huge SME funding gap, even as banks’ deposits with CBN fall to ₦91.1tn. Oil & Corporate Moves: NNPC reports N481bn April profit on higher crude output, while FirstHoldCo secures shareholders’ approval for a multi-tranche capital raise up to ₦253.1bn. Digital Economy: Stakeholders back the June 11 Nigeria DigitalSENSE Forum on internet governance, pushing for stronger digital public infrastructure.

Energy & Refining: Dangote Refinery says it will reposition Nigeria from an oil exporter into a global fuel powerhouse with a flexible trading model, aiming to cut import dependence and strengthen forex inflows. Oil & Gas Finance: NNPC Ltd reports N481bn profit after tax for April, with oil revenue rising to N4.97trn and crude output up to 1.68m bpd. Power & Industry Costs: AfDB flags that power outages cost Nigerian firms about 3% of annual sales, underlining the pressure on manufacturers. SME Support: Fidelity Bank will launch a Fidelity Quarterly Business Forum to help SMEs scale trade and distribution, starting in Port Harcourt on June 3. Payments Regulation: CBN eases PoS geo-fencing by expanding operating radius to 70 metres and extends compliance to August 1, 2026. Mining Enforcement: NSCDC Mining Marshals arraign 15 Chinese and nine Nigerians over alleged illegal lithium mining in Nasarawa, with trial set for June 18. Trade & Logistics: Exporters warn that shipping costs start stacking up long before cargo reaches Apapa, driven by documentation, port charges and bottlenecks. Labour & Wages: NLC rejects a proposed N100,000 minimum wage, saying workers need up to N1m to survive. Politics & 2027: Peter Obi confirms his 2027 presidential run and names Rabiu Kwankwaso as running mate, intensifying opposition splits. Maritime Cooperation: NIMASA pushes Nigeria-Liberia maritime integration to build capacity and create youth opportunities in the blue economy.