AGP Executive Report

Energy & Policy: Tinubu says NNPC will be reformed and listed on the capital market, with plans to sell shares to Nigerians, as the government pushes deeper energy-market changes. Power Sector Performance: NERC reports Nigerians paid N208.15bn for electricity in May 2026, with revenue collection improving but billing efficiency falling; Ikeja Electric tops collections while Kaduna DisCo records the weakest performance. Rural Electrification: Ayo Fayose is inaugurated as REA board chairman, pledging faster grassroots electricity expansion. Oil & Gas Supply Chain: NMDPRA says it will negotiate with NUPRC to fix crude supply shortages to local refineries as installed refining capacity rises. Industrial Growth & Local Tech: Alfa Designs Nigeria unveils a patented smart wellhead monitoring system to remotely track pressure and shut wells during abnormal conditions, aiming to cut downtime and losses. Manufacturing & Investment: Dangote expresses confidence in hitting $100bn annual revenue by 2030 after Goldman Sachs executives toured its complex. Trade & Infrastructure: NUJ urges FG to rehabilitate South-South federal roads and operationalise seaports; Kogi targets commerce boost with the Lokoja ultra-modern market under construction. Security & Humanitarian: Nigerian forces rescue hundreds from captivity, including Woro victims received in Kwara, while AFN reports large-scale rescues and arrests nationwide. Governance & Accountability: NOA and police renew collaboration on national values to rebuild public trust in policing; PUAN launches an app to expose polling-unit malpractices and track public projects. Education & Skills: NESRI coordinators are charged to deliver measurable education reform outcomes; FUTA wins top spots in a national industry-based engineering competition sponsored by Dangote Cement. Energy Diplomacy: Nigeria formally joins the World Energy Council, with Tinubu hailing it as a confidence vote on energy reforms.

Digital Economy & Industry Infrastructure: NCC hands over its Digital Industrial Park and Learning Centre in Enugu to the state on a 15-year lease, aiming to deepen skills, startups, jobs and tech-enabled services. Power Access & Rural Electrification: Minister Joseph Tegbe says Nigeria’s power success will be measured by communities and people electrified, not megawatts, as REA’s governing board is inaugurated with Ayo Fayose named chairman. Education Delivery Accountability: FG orders NESRI officials to stop treating programmes as “completed” without full deliverables, pushing measurable school outcomes. Flood Mitigation & Urban Engineering: FG urges Lagos residents to protect drainage channels and stop indiscriminate waste disposal as part of nationwide flood and WASH assessments. Energy Diplomacy: Tinubu welcomes Nigeria’s admission into the World Energy Council and tasks WEC Nigeria leadership to shape global energy decisions with Africa’s voice. Finance & Compliance: EFCC arraigns 3 people and 2 firms over alleged N652m Petrocam fraud. Aviation & Trade Connectivity: Nigeria and Canada sign an expanded air transport deal enabling direct scheduled flights (14 weekly passenger, 10 weekly cargo). Agri & Business Funding: Gov Mai Buni says he secured N2.5bn loans from BoA and BoI for farming after taking office. Crypto & Payments: Quidax expands stablecoin infrastructure to 21+ countries and 14 currencies, targeting faster cross-border value transfer. Governance & Reform: FG education and power reforms, plus land-grabbing calls for digitised records and stricter enforcement, keep policy execution in focus.

Public Finance & Governance: Lawmakers demand emergency reconvening over alleged off-budget spending, under-implementation of 2024–2026 appropriation and the State Police constitutional bill. Party Politics: NDC admits internal crisis after 2027 primaries and sets up a National Reconciliation Committee led by Prof. Pat Utomi. Sanitation & Public Health: Women in Abuja’s Kwali push to end open defecation in Kundu Ward, training sanitation champions with RUWASSA and ActionAid support. Energy & Industry: Dangote Refinery keeps winning export headlines, supplying over 400,000 tonnes of jet fuel to Europe in July (~20% of imports), while FCMB commits N20bn to finance private healthcare businesses. Aviation & Trade: Nigeria and Canada sign an expanded air transport deal enabling direct scheduled flights (up to 14 weekly passenger and 10 weekly cargo). Regulation & Consumer Safety: NAFDAC warns of counterfeit Forxiga (dapagliflozin) in circulation; Borno police clamp down on sale of meat from dead animals. Security & Ports: Nigeria Customs intercepts pump-action rifle parts and cannabis-infused food at TinCan. Business & Markets: First Holdco shares hit a record N140; naira holds around N1,367/$ as CBN defends the FX market.

Energy Security & Geopolitics: Africa is being pushed to speed up energy transition as Strait of Hormuz disruptions hit global oil prices and supply chains fast, with Nigeria’s refinery ramp-up seen as a key buffer. FDI Push: FG plans the Nigeria NOW! Global Investors Expo 2026 to court investment in mining, power, infrastructure, manufacturing, oil & gas and tech. Manufacturing Outlook: MAN says manufacturers’ CEOs confidence index rebounded in Q2 2026, helped by recent tax and industrial policy signals. Shipping & Trade: MSC launches a weekly feeder service linking Lomé to Lekki, Apapa and Tin Can, aiming to cut delays and improve export routing. Oil & Gas Performance: VAALCO reports strong Q2 2026 results and guidance, including restarted Côte d’Ivoire production after refurbishment. Power Sector Cooperation: NISO and Canada explore collaboration on grid planning, renewables integration and digital transformation. Digital Economy & Tax: Nigeria’s new crypto tax rules draw backlash from a digital assets coalition, warning transaction-based charges could push activity offshore. Cyber & Financial Crime: A Nigeria-linked phishing scam hit the City of Pittsburg, with most funds recovered. Security & Human Capital: Ogun confirms rescue of abducted Poly students; Katsina plans a pharma manufacturing plant to boost local medicine supply. Industry Governance: Nigeria joins the World Energy Council to strengthen energy policy influence and tackle the energy trilemma.

TVET Reform Boost: FG inaugurates NBTE governing board after a five-year gap, pushing technical education to match industry needs and produce job-ready artisans. Energy Regulation & Transparency: NMDPRA says regulation must keep pace with a changing downstream sector, with focus on PIA rollout, transparency and digital oversight. Insurance Shake-up: NAICOM revokes Nigeria Reinsurance’s licence and freezes operations over capital shortfall, appointing a receiver/liquidator. Fuel Market Competition: Dangote Refinery cuts ex-depot petrol by ₦50/litre to ₦1,165 and diesel to ₦1,570, triggering depot price adjustments nationwide. Upstream Investment Pipeline: NUPRC targets $30–$50bn from 22 offshore projects and expects more field development approvals to drive output growth. Banking Cyber Response: Nigerian banks reassure customers after a global cyber campaign, urging users to avoid sharing PIN/OTP/BVN via calls or messages. Skills & Entrepreneurship: US Consulate trains 200+ Nigerian entrepreneurs in manufacturing. Off-grid Power Expansion: REA rolls out 60.82MW renewable projects across six states, starting a 13.92MWp hybrid solar in Yobe. Transport Modernisation: Lagos signs BITP MoU with unions to formalise and modernise bus operations. Digital Economy & AI: Chinese AI models gain traction across Africa as developers seek lower-cost, customisable tools.

Power Infrastructure Security: TCN says police arrested a suspect over vandalism that stripped about 130 bracing members from six towers along the Yola–Jalingo 330kV line, warning of collapse risk. Mining Enforcement & Accountability: NSCDC clears Mining Marshals commander ACC John Onoja Attah of N2bn diversion and death-cover-up allegations, while dismissing two operatives for supplying firearms to illegal miners. Health Workers Protection: FG orders immediate protection measures for health workers after an EFCC-Uyo Teaching Hospital incident, following a ministerial committee report. Insurance Sector Shock: NAICOM revokes Nigeria Reinsurance’s licence for failing minimum capital rules and appoints Muiz Banire as receiver/provisional liquidator. Energy & Consumer Relief: Dangote Refinery cuts ex-depot PMS to ₦1,165/litre and diesel to ₦1,570/litre, citing improved operations. Agribusiness & Jobs: ELRA and Heifer Nigeria partner to expand mechanisation for smallholder farmers in Benue, Nasarawa, Ogun and Edo via leasing/lease-to-own. Digital & Investment Push: NACCIMA woos Chinese investors at a Guangzhou forum tied to the Canton Fair, aiming to boost Nigeria’s $1trn economy target. Water & Urban Services: Lagos Water Corporation inspects Iju Waterworks rehabilitation, installing new pumps to restore capacity. SME Growth: Stanbic IBTC and Anambra hold a business summit in Onitsha to expand finance and trade for South-East MSMEs. Cybersecurity Alert: Zenith Bank customers are urged to verify deposits after a reported data breach.

Energy & Capital Markets: Dangote Petroleum Refinery is preparing a roughly $5bn IPO on the Nigerian Exchange, with SEC approval expected soon, a prospectus in September and an October offer—aimed at expanding refining capacity and potentially supporting a Kenya replication plan. Education & Human Capital: Anambra’s CLO urges the state to rein in “outrageous” mission and private school fees that could weaken Soludo’s free education push. Agriculture & Food Security: An agritech expert backs precision farming—using digital soil mapping and data-driven inputs—to raise yields without expanding farmland. SME & Business Finance: NACCIMA opens a portal for a $150m offshore financing facility with loans starting at $10m, single-digit rates and at least 7.5 years’ tenor across 17 sectors. Digital Economy: NCC hands Enugu a Digital Industrial Park and Digital Bridge Institute on a 15-year lease to boost AI/digital skills and outsourcing jobs. Governance & Industry Regulation: NESG warns FG against unconditional support for underperforming electricity Discos, calling for performance-linked conditions. Security & Local Industry: The Army chief calls for stronger collaboration with indigenous defence manufacturers to boost self-reliance and jobs. Tech & Cybercrime: EFCC says Nigeria lost over $500m to cybercrime in 2022, pushing the need for education and credit access.

Labour Pressure on FG: JNPSNC/TUC affiliates issued a 7-day ultimatum to the Finance Minister over unpaid federal workers’ allowances and a 40% peculiar allowance, warning of unrest if no action is taken by Aug 11. PFIPC Probe: A businessman told House investigators he allegedly paid N400m to the purported PFIPC DG, Adeniyi Adeyemi, to secure a contract for renovating the agency chief’s residence. Investment Push (Nigeria–Saudi): FG says Nigeria is “open for business” as Saudi ties deepen on investment and tourism, with Shettima pitching Nigeria as Africa’s halal economy hub. Energy & Power Costs: NERC reports DisCos collected N208.15bn from customers in May, while electricity billing efficiency fell. Capital Markets: NGX reversed gains as investors lost N599bn, with Multiverse Mining and Livingtrust Mortgage among top decliners. Industrial/Tech Growth: NCC leases a Digital Industrial Park and AI learning centre to Enugu for 15 years. Security & Local Industry: Army deepens private-sector logistics support; House defence panel urges procurement of locally made equipment. Agriculture & Women: FG/BOA MoU targets support for 3m women farmers under the WAVE programme. Big Corporate Move: Dangote Refinery targets a $5bn IPO by October.

Energy & Oil/Gas Investment: Shell says it will keep backing Nigeria’s energy future, highlighting deepwater projects and a $3bn contract financing push for Nigerian contractors as SPE Nigeria opens NAICE 2026. Manufacturing & Jobs: Dangote and Sinoma sign an $800m deal to expand the Itori cement plant, doubling output to 12m tonnes yearly, while BHEL lands a major gas turbine order for Dangote Petroleum Refinery. Power Market Regulation: FCCPC urges regulators to coordinate as states set up electricity markets, aiming for consistent consumer protection. Agriculture & Food Security: NADF trains 4,000 tractor operators and mechanics to boost mechanised farming; Benue launches a five-year strategic food security plan amid insecurity. Finance & Infrastructure: Coronation Infrastructure Fund opens a N20bn Series II offer to fund critical infrastructure. Digital Economy & Payments: Kolomoni launches “Take Control” with free bank transfers for Nigerians under 25. Oversight & Extractives: Senate threatens sanctions after CBN, NDDC and NUPRC shun a NEITI oil-and-gas audit probe. Road Safety: AMATO warns truckers against deploying rickety, unsafe trucks without key lights and reflective tapes.

Security Update: Gunmen raided Kasuwar Daji village in northwest Nigeria, kidnapping 52 people after attacking a local outpost; one soldier and one police officer were killed, with insecurity also spilling into neighbouring Sokoto where at least 11 died. Aviation & Consumer Impact: Airline Operators of Nigeria (AON) warned against any union strike over alleged ticket service charges, saying it could disrupt travel and that unions don’t speak for the NCAA. Data Governance: A Federal High Court judgment affirming NDPC’s powers under the Nigeria Data Protection Act 2023 was hailed as a game-changer for corporate data governance and digital trust. Energy Transition: Lagos inaugurated Nigeria’s first Integrated Energy Hub in Oshodi, bundling PMS, AGO, CNG, LPG, EV charging and a CNG conversion centre. Power Metering: NERC reported Nigeria’s metering rate at 59.69% with 5.13m customers still unmetered. Oil & Gas Business: Aradel Holdings posted a 577% revenue jump to N2.49tn in H1 2026 as crude and gas output surged. Trade & Competition: ECOWAS competition authorities warned against price-fixing and anti-competitive practices that raise costs across West Africa. Agriculture Finance: NADF and NBS signed a data pact to strengthen evidence-based agricultural financing and policymaking. Digital Economy: NRS said regulators are aligning on a unified crypto framework under a Presidential Executive Order, aiming to stabilise the virtual assets sector.

Cement 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.

Cement Expansion Deal: Dangote Industries and Sinoma sign an $800m MoU to expand the Itori cement plant to 12 million metric tons per annum, aiming to boost local supply and exports. Mining Sector Oversight: FG defends revocation of Basin Mining Limited’s licences, saying the company failed to pay statutory fees (N1.223bn in 2024; debt later rose to about N2.494bn), rejecting claims of pro-China bias. Oil Theft Crackdown: Nigerian Navy dismantles three reactivated illegal refining sites in Rivers, recovering 61,000 litres of suspected stolen petroleum products. Energy Reporting Push: SPE Nigeria urges energy journalists to strengthen technical knowledge, while NUPRC calls for accurate, fact-based reporting to prevent misinformation from moving markets. Upstream Licensing Transparency: Analysts commend NUPRC’s 2025 oil and gas licensing round for transparency and rules-based evaluation that produced 31 winners of 37 blocks. Public Health & Local Industry: Doctors urge FG to boost local vaccine production and expand hepatitis screening to cut viral hepatitis burden. Insurance Recapitalisation: Guinea Insurance says it has exceeded NAICOM’s N15bn minimum capital requirement after raising about N12.6bn via rights issue and private placement. Capital Markets Pulse: NGX remains volatile as investors trade heavily; Nigeria’s market is reported as a top dollar performer in H1 2026, but week-end profit-taking still drags indices. Security Update: Reports from Sokoto describe a village raid with rising fatalities, as authorities intensify operations in affected areas.

Police Accountability: SERAP asks President Tinubu to order a probe into alleged diversion/misuse of over ₦6.79bn in Nigeria Police Force and the Ministry of Police Affairs, citing Auditor-General findings and claims of missing firearms/ammunition. Power & Gas: Geometric Power’s Aba plant shut down after a gas supply disruption, plunging parts of Aba into darkness; meanwhile FG says no immediate electricity tariff hike and targets ending power subsidy payments by 2027. Housing Finance: Government validates Nigeria’s mortgage and housing regulation policies, including FMBN reforms, NHF expansion to informal workers, developer licensing, escrow protection and a housing data observatory. Real Estate Regulation: REDAN pushes for a Certificate of Professional Good Standing for developers to strengthen compliance, licensing and ethics. Energy Prices: Cooking gas prices are easing in many areas as supply improves, but gaps remain between northern/remote locations and Lagos/near depots; petrol also sees fresh cuts at MRS and AA Rano depots. Agribusiness Support: FG/IFAD backs 476 Taraba farmers with farm inputs to boost rice and cassava production. Digital & Finance: Court orders Stanbic IBTC to pay N15m over unlawful data retention and orders deletion of retained personal data. Markets: NGX closes the week slightly down, but July performance remains strong; MTN and other corporate updates continue to move sentiment. Industry Skills: Advertising agencies urge professionals to “evolve” amid AI, automation and changing consumer behaviour.

Food Security & Agri-Tech: Agriculture Minister Abubakar Kyari says Nigeria will scale AI, biotech, robotics, remote sensing and genomics to boost food security. Agro-Processing: Katsina commissions a cassava/gari processing centre in Batsari to cut post-harvest losses and create jobs. Ports & Manufacturing Logistics: BUA Group commits $85m to expand its Port Harcourt terminal, adding 600m quay frontage to feed its food manufacturing growth. Maritime Security: Saudi-led plans for a multinational maritime coalition signal a bigger GCC role in protecting key shipping routes. Clean Energy & Transport Incentives: Nigeria Customs exempts CNG, LPG (cooking gas) and EVs from 100% import duty and VAT under the gas-for-growth initiative. Power & Industry Pressure: Manufacturers in the South-East warn high electricity costs are keeping output below 30% capacity. Food Inflation: Rising inflation in FCT communities is forcing families to cut meals and change eating habits. Insurance Recapitalisation: Guinea Insurance says it has surpassed NAICOM’s N15bn minimum capital requirement. Security & Humanitarian: Troops in Borno rescue 31 civilians after foiling an abduction attempt under Operation Hadin Kai. Digital Skills for Women: FUTA and Cardiff Met train women on human-centered AI for gender equity and sustainable development.

Power Sector Reset: Minister of Power Joseph Tegbe denied any immediate plan to end electricity subsidy or hike tariffs, saying reforms will focus on metering, grid stability and a technical audit of transmission corridors. Electricity Tariffs Debate: Government also reiterated that subsidy phase-out is targeted from 2027, not now, as it moves to clear legacy debts and stabilise the market. Gas for Clean Cooking: The Decade of Gas Initiative launched a nationwide grassroots LPG programme with Bayelsa as the pilot, targeting 5 million households by 2030. NNPC Financials: NNPC reported N535bn profit after tax for June, with statutory transfers rising and gas pipeline projects progressing toward first gas. Stock Market Mood: NGX market capitalisation gained about N58.9tn in seven months as MTN posted strong H1 revenue, though some sessions saw profit-taking. Illegal Mining Crackdown: EFCC secured five-year jail terms for two Chinese nationals over illegal export of solid minerals in Lagos. Agriculture Data Push: NADF and NBS partnered to strengthen agricultural data for evidence-based financing. Food Inflation Pressure: BudgIT reported the cost of a healthy diet rose 11.7% in Q1 2026, squeezing minimum-wage earners. Workforce Skills Shift: Jobberman highlighted a move toward skills-based hiring and AI-driven recruitment as the employability gap narrows. Entrepreneurship Call: A philanthropist urged youths to embrace entrepreneurship and skill acquisition across agriculture, manufacturing and digital services.

Power Sector Reform: Nigeria’s Minister of Power Joseph Tegbe says reforms will strengthen the national grid, restore investor confidence, and improve supply, while the FG also confirms electricity subsidy phase-out from 2027 and rules out any immediate tariff hike; the government adds it will deploy 1.56 million meters by year-end after settling a court dispute with local meter makers. Industrial & Manufacturing Push (Rivers): Rivers State leaders inaugurated Solewant’s specialty protective coatings and paints plant, reinforcing local content and industrial expansion. Agribusiness & Data: NADF and NBS sign an MoU to improve agricultural data for evidence-based financing, while ZiraaLink highlights how AI and better trade linkages are reshaping Africa–Middle East agri supply chains. Security & Enforcement: Nigerian forces killed 102 suspected terrorists in July operations, and the FCT Police uncovered a fake diplomatic number plate syndicate used to bypass checkpoints. Insurance Sector: Insurers await NAICOM’s final decision as Nigeria’s recapitalisation deadline ends, with consolidation pressure expected in non-life. Energy & Logistics Fuel Shift: CNG is gaining traction as logistics firms look for cost relief amid fuel price pressure. Solid Minerals Crackdown: A Lagos court jails two Chinese nationals for illegal mining and unlawful export of minerals. Tech & AI Outlook: China invites Nigeria to join a new World Artificial Intelligence Organisation as a founding member. Business Markets: Sterling Financial shares rise after stronger half-year results, even as the broader stock market stays under pressure.