AGP Executive Report

Energy & Infrastructure: NLNG says it has generated $149.6bn revenue, paid $47.2bn dividends and remitted $10.8bn tax, while reaffirming its Train 7 push to lift capacity by about 35% and boost domestic LPG supply. Power & Telecoms: NCC and REA sign an MoU to expand digital infrastructure using renewable energy, and KSTAR showcases smart solar-plus-storage solutions for homes and businesses. Aviation & Construction: Tinubu approves ₦46bn to resurface and rebuild Kano Airport’s second runway, as FAAN commissions the upgraded MAKIA domestic terminal. Housing Finance: FG plans a National Housing Finance Authority to widen affordable home ownership, including NHF contributions starting from N5,000 for informal workers. Downstream Oil & Gas: Petrol depot prices fall across major hubs as Dangote and marketers cut rates amid tougher competition; FG also launches a National Grassroots LPG programme in Bayelsa targeting 5m households by 2030. Agriculture: HYPPADEC supports 5,000+ Kwara farmers with cash and farm inputs, while ActionAid warns agriculture capital spending is too low to meet food security targets. Security & Governance: DSS arrests Ansaru leader Khalid Albarnawi in Lokoja; Tinubu tells Catholic bishops INEC is neutral and says Nigeria is stabilising. Industry & Markets: NGX gains ₦481bn on insurance-led buying ahead of the recapitalisation deadline.

Aviation & Maintenance: ECOWAS is exploring a regional MRO, saying a feasibility study is done and the plan is “viable,” to cut maintenance costs and improve safety while complementing airline-led efforts. Security & Finance: Police IG Tunji Disu ordered terrorism financing, banditry and other financial crime cases to be routed to specialised units, stressing “following the money” with the NFIU. Energy & Industry: NLNG says it has generated over $149.6bn in revenue since operations began, with Train 7 set to lift LNG output by 35% and expand domestic LPG supply. Downstream Petroleum: Reps push consensus on stable fuel supply, meeting oil marketers and depot operators over import vs domestic refining and dollar-denominated port charges. Housing & Construction: FG pegs Nigeria’s housing deficit at 15 million units and proposes a National Housing Finance Authority to widen mortgage access; it also flags 1,600 deaths from 650 building collapses in 52 years. Agribusiness & Exports: FG inaugurates an interministerial agricultural quarantine committee to reduce export rejections and strengthen biosecurity. Digital & Payments: Luno Nigeria links Africa’s stablecoin growth to real trade and remittance needs, while NAFDAC’s MAS verification process is criticised for asking for personal data beyond what’s necessary. Markets: NGX rebounds, adding about ₦481bn to investors’ wealth as insurance and industrial stocks lead gains.

WAFCON Kickoff: Nigeria’s Super Falcons open defence of their title against Malawi in Rabat today, with coach Justin Madugu and captain Rasheedat Ajibade pushing for a winning start in a tougher 16-team format. Markets & Finance: Nigeria’s NGX rally keeps roaring—investors added about N74trn in market value in a year, while liquidity in the banking system stayed high at N3.78trn as investors chase government securities after the CBN held rates. Manufacturing Pressure: Manufacturers say recovery is still blocked by rising production costs—energy, borrowing and weak demand—despite a slight PMI uptick. Energy & Fuel Supply: Nigeria is set to receive about 154m litres of imported petrol this week via five vessels, even as local refining expands. Skills & Jobs: FG approves ₦3.6bn for 200,000 tailors under ITF’s SUPA skills scheme, with screening for genuine artisans. Housing for Diaspora: FMBN will launch Diaspora NHF mortgage loan on Aug 7 in London. Agro-Industrial Zones: SAPZ policy validation targets $4.4bn investment and projected ~30.85% internal rate of return. Healthcare Disruption: LUTH resident doctors’ strike enters day 8 over welfare demands, disrupting services. Minerals & Local Value: Solid Minerals Minister Dele Alake urges an end to raw mineral exports and calls for Africa-led processing and mineral data standards. Small Business Relief: FG rolls out a ₦50k grant for one million nano businesses, including traders and vulcanisers. Regional Tensions: Nigeria again faces xenophobia fallout in South Africa, with calls for stronger, more reciprocal diplomacy.

Methane & Energy Security: The EU Commission signals flexibility on methane rules, proposing delayed penalties and “trace and claim” compliance options to avoid disrupting gas supply ahead of 2027 import requirements. Industrial Enforcement in Lagos: LASEPA seals six iron and steel firms in Ikorodu (Odogunyan Industrial Layout) for environmental breaches including dust and particulate emissions, warning operators to adopt sustainable production. Power Sector Politics: FG denies plans to raise electricity tariffs, while Peter Obi again says nationwide 24-hour power in four years is impossible—promising at least 10,000MW via generation, transmission and distribution improvements. Security & Oil Integrity: NSCDC arrests an Anambra truck driver over alleged attempt to run over officers during operations against adulterated petroleum products. Trade & Food Supply Risks: Nigeria urges South Africa to curb xenophobic attacks on migrants, citing evacuations of 1,490 Nigerians and rising deaths since 2022. Agribusiness & Smart Cities: Oyo partners CTH Trading Stores on a 481-hectare Smart Agro-Cosmopolitan City in Saki with agro-logistics, cold storage, off-grid solar and tech-driven trade. Extractives Transparency: FG urges stakeholders to leverage the 2026 EITI validation to deepen transparency and reforms in Nigeria’s oil and mining sector. Finance for Tech/Creative: BOI opens iDICE debt windows ($45m BOI-iDICE and $65m IsDB-iDICE) for eligible startups across Nigeria’s digital and creative economy. Mining/Metals Value Addition: Zambia pushes to process copper locally, echoing Nigeria’s broader push toward local mineral processing.

Fuel & Energy: Dangote Refinery says it returned to naira-priced PMS after observing fuel importers allegedly holding back stock, as pump prices hover around N1,260–N1,300/litre amid renewed global tensions. Power Sector: Atiku claims Tinubu has finally adopted his long-pushed decentralised electricity blueprint, after the power minister admitted Nigeria can’t rely only on large centralised plants. Oil & Gas Policy: A public clash erupted over Shell’s $11.50/barrel Bonga South West tax incentive, with critics saying it’s too generous versus government revenue. Mining & Industrial Value: Kaduna signed $500m mining MoUs with AfDB to move projects from exploration to production, while Nigeria and AfDB renewed calls for African control of critical minerals and local value addition. Agrifood & Food Security: FG unveiled a 10-year agrifood system strategy for FEC approval, as OTACCWA warns of possible rice and tomato scarcity within three months. Business & Finance: FG maps 500,000 MSMEs to boost industrial growth; BoI pushes domestic capital; and a VAT modification order committee has six weeks to draft updates. Regulation & Markets: Nigeria topped West Africa in online gambling regulation, with illegal betting still dominating revenue. Infrastructure Oversight: CSO demands technical audit of Osogbo flyover structural defects. Tech & Payments: Ecobank launches an entrepreneurship podcast, while Nigeria’s instant payments keep scaling with fraud losses down. Transport/Urban: Lagos rail and coastal highway debates continue, with attention on delivery and planning.

Politics & Governance: Peter Obi (NDC) again urged President Tinubu to “come out of the bunker” and speak directly to Nigerians, while also calling for Tinubu to step aside ahead of 2027, saying he is “tired” and lacks capacity to fix Nigeria’s worsening economy and insecurity. Agriculture & Jobs: Obi doubled down on an “agriculture first” plan to shift Nigeria from consumption to production, arguing local output can cut poverty and boost GDP. Security & Defence: FG reaffirmed plans to upgrade Nigerian Army University Biu into a leading military technology centre, including leveraging a 30% admission quota for military personnel. Food Systems: Kaduna Governor Uba Sani flagged off free fertiliser and tractors for 150,000 smallholder farmers across 23 LGAs, committing over ₦100bn to agriculture and food security in 2026. Energy & Industry: Atiku criticised Tinubu’s power approach, saying tariffs rose before reforms; meanwhile, Atiku’s decentralised model is gaining renewed attention. Oil Theft Crackdown: Nigerian Navy arrested a vessel linked to crude oil theft and seized 15,500 litres of suspected stolen petroleum products in Niger Delta operations. Digital & Telecom Policy: GSMA endorsed the Abuja Declaration and launched ATLAS Umoja AI to push spectrum reform and technology-neutral licensing. Manufacturing/Skills: EMVC and Federal Polytechnic Offa partnered to accelerate Nigeria’s EV and battery skills pipeline. Business/Finance: SERAP sued NNPCL over alleged failure to account for ₦211trn in 2023 oil money recorded as sundry receivables and accrued expenses. Construction Safety: Lagos experts inspected accredited materials testing labs to curb building collapse risks.

Energy & Trade: Ecowas has greenlit the $25bn Nigeria–Morocco mega gas pipeline, a ~6,000km Atlantic-coast route expected to start construction in 2028 and target 30bcm/year (15bcm for Morocco, rest onward to Europe). Oil Security: The Nigerian Navy intercepted MT FILIA at UTUE Terminal, Akwa Ibom, seizing 682.82 tonnes of suspected stolen petroleum products (650 tonnes crude, 32.82 tonnes fuel oil) and detaining the 12-member crew. Power Policy: FG says there’s no plan to increase electricity tariffs for any customer band, while also moving to license renewable energy service companies (RESCOs) to compete with DisCos as 19 states push for more stable power via utility-scale renewables. Accountability in Oil Revenues: SERAP has sued NNPCL over alleged failure to account for ₦211trn in 2023 oil money booked as “Sundry Receivables” and “Accrued Expenses.” Food & Agriculture: Kaduna’s Uba Sani flags off free fertilizer and tractors for 150,000 smallholder farmers for the third straight year; meanwhile FEWS NET warns 16.99m Nigerians may face acute hunger by Jan 2027. Markets: NGX ended the week up 1.6% as investors added about N2.53tn, led by banking and consumer stocks.

Northern Development & Security: President Tinubu told the Katsina memorial conference in Kaduna that insecurity in Northern Nigeria will soon be “behind us,” pointing to education loans, road and rail reconstruction, and power/agriculture/youth investments. Agro-Industrial Push: Six governors, with VP Shettima, are studying Ethiopia and Benin’s agro-processing models to speed up Nigeria’s shift from raw exports to processed goods. Diplomacy for Industry: Nigeria’s Ambassador to Germany, Ita Enang, presented credentials and urged stronger ties on energy, agriculture, migration and auto assembly in Nigeria. Electricity & Jobs: REA says 48 interconnected mini-grids are under construction across 19 states under the new regulatory framework. Agriculture Under Threat: Farmers in Zamfara were again targeted, with groups condemning the killing of 23 farmers and warning that insecurity is now hitting food production directly. Trade & Tariffs: The US imposed a 12.5% tariff on Nigerian exports over forced-labour rules, raising pressure on exporters. Energy Market Update: FG suspended negotiations with Dangote refinery over fuel pricing terms deemed commercially unfavourable. Tax Reform: Finance inaugurated an inter-ministerial committee to develop the 2026 VAT modification order to support Nigeria’s tax reforms. Business/Markets: NGX investors gained N2.532tn as equities closed higher for the week.

Energy & Downstream: Oil prices eased after Brent jumped above $100, but Nigeria’s pump pressures remain as marketers watch landing costs; Dangote’s PMS gantry is pegged around ₦1,215/litre while queues and possible new retail hikes loom. Tax Policy: The Finance Ministry has inaugurated an inter-ministerial committee to draft a modern VAT Modification Order 2026 to align with the new Tax Reform Acts. Industrial Growth & Exports: Dangote plans a petroleum products storage terminal in Cameroon to expand refined fuel distribution across Central Africa. Agri-Value Chains: Experts and agribusiness voices are pushing for bigger investment to turn Africa’s agriculture into investable value chains, not just farming. Research Commercialisation: TETFund and Israel-backed iFAIR 5 renew efforts to convert university research into billion-naira businesses, alongside plans for innovation centres across 60+ tertiary institutions. Clean Mobility: EMVC signs with Federal Polytechnic Offa to boost local EV production, battery research and skills. Finance & ESG: UBA wins Euromoney awards for Best Retail and Sustainability Leadership, highlighting green financing and net-zero targets. Security & Cyber: A police directive orders shoot-on-sight for illegal firearm carriers, while experts warn cybercrime could become a top security threat within 10 years. Logistics & Trade: NIMASA backs green shipping practices as freight and logistics firms push for smarter, faster cross-border movement.

Tax & Compliance: FG inaugurates an Inter-Ministerial Committee to craft a “modern, coherent” VAT Modification Order 2026, aimed at aligning VAT administration with the 2026 Tax Reform Acts. Energy Security: Nigerian Navy arrests a vessel and 12 crew over alleged crude oil theft and siphoning at UTUE Terminal, Akwa Ibom, under Operation DELTA SENTINEL. Pharma Supply Chain: SGF backs ACPN’s push with NAFDAC to tackle counterfeit and substandard medicines, warning it’s a major public health threat. Digital Infrastructure: NCS unveils an MIS File Tracker to deepen customs digital transformation and speed up internal processes. SME Digitisation: Access Bank launches an SME app to help small businesses adopt AI for productivity and growth. Clean Energy & Industry: Experts call for a National Renewable Energy Industrialisation Roadmap to scale local solar manufacturing and cut energy poverty. Agribusiness Resilience: FG and IFAD launch a climate-smart agribusiness project (CSAPR) to plug climate information into value chains. Industrial Policy & Investment Climate: Ex-minister Lai Mohammed urges regulatory certainty and investor-friendly incentives to unlock energy transition finance. Regional Trade/FDI: Nigeria remains Africa’s top equity investment destination in H1’26, even as Egypt leads total startup funding. Tourism & Hospitality: Cross River concedes Obudu Ranch Resort for 25 years to redevelop it into a world-class destination.

Fuel & Transport Pressure: Petrol depot prices are easing as Dangote Refinery resumes naira-based sales, but global crude is still near $100, keeping transport fares under fresh strain across Nigeria. Energy Transition & Local Manufacturing: REA says Nigeria is pushing 3.7GW solar manufacturing capacity by end-2027, with PV and recycling projects across multiple states. Digital Regulation: Senate backs a bill to compel Facebook, TikTok, X and others to open functional offices in Nigeria, aiming to strengthen accountability and Nigeria’s digital economy. Housing & Construction Jobs: Family Homes Funds plans 10,000 social housing units by 2030, targeting women’s empowerment and large-scale artisan training. Power Sector Skills: FG flags off “Power Force” training for 5,000 smart meter installers after nearly 220,000 applications, supporting the metering rollout. Mining Safety & Governance: Senate moves to tighten mining safety rules after a Kogi coal landslide killed 20, while lawmakers probe alleged misconduct around mining marshals. Trade & Compliance Shock: The US imposes forced-labour tariffs on 60+ economies including Nigeria, raising compliance risk for textile and apparel supply chains shipping into the US. Finance & Pensions: OPSN urges PenCom to suspend a proposed pension contribution hike, warning it could worsen job and business pressures. Aviation Oversight: NSIB begins investigation into an Enugu Air runway excursion at Benin Airport; NCAA also threatens action over Royal Air Maroc consumer protection infractions.

Power & Jobs: FG flags off training of 5,000 smart meter installers under the Presidential Metering Initiative, after 220,000 applied, aiming to scale a certified metering workforce nationwide. Energy Finance: Dangote Petroleum Refinery completes a $2.5bn private placement (3.7x subscription) to fund refinery and petrochemical expansion and strengthen capital. Digital Governance: Senate backs a bill to require social media platforms to set up physical offices in Nigeria, alongside support for an AI academy in Omuo-Ekiti. Monetary Policy: LCCI urges a prudent, data-driven monetary policy to anchor inflation expectations and protect exchange-rate stability, warning high rates keep borrowing costs elevated. Oil & Gas Local Content: NCDMB says this year’s Practical Nigerian Content Forum will focus on hitting 70% local content by 2027. Banking & ESG: UBA wins Euromoney awards for Nigeria’s Best Retail Bank and Best ESG leadership. Security & Industry Disruption: Apapa gridlock worsens as container terminals and empty-container trucks choke the Mile 2–Apapa corridor, demanding a permanent fix. Mining Safety: Senate moves to overhaul mining safety after a Kogi coal mine collapse killed 20 miners. Education for Industry: Enugu Gov Mbah calls for experiential, problem-solving education at UNN convocation, while McPherson University inducts 61 computing graduates into CPN. Tech for Work: Nigerian freelancers are using Make.com automation to build income-generating workflows without heavy coding.

Power Policy: FG confirms it will gradually scrap electricity subsidy and move to cost-reflective tariffs, with a Power Consumer Assistance Fund planned to cushion vulnerable households. Downstream Fuel: Dangote Refinery resumes naira-based petrol gantry loading after a brief suspension, setting an ex-depot price of ₦1,215/litre as global crude prices rise. Mining Oversight: Reps move to investigate Mining Marshals Corps over alleged ₦2bn in a commander’s account and claims of wrongful harassment of legitimate title holders. Food & Agriculture: SBM Jollof Index shows cooking a pot of jollof rice now costs far more, up 624% in a decade, as climate and insecurity deepen food affordability stress. Digital & Consumer Credit: CREDICORP opens applications for C.L.I.C.K.D. to finance laptops, smartphones and tablets via instalments. Regulation & Public Health: NAFDAC begins nationwide seizure of sachet and sub-200ml sachet/bottle alcohol. Finance & Business Climate: CBN holds MPC rates at 26.5%, keeping borrowing costs high for businesses and SMEs. Banking Awards: Zenith Bank wins Euromoney “Africa’s Best Bank” and “Nigeria’s Best Bank” for 2026.

Power Finance: Nigeria plans to raise ₦729bn via the second tranche of its Power Sector Multi-Instrument Issuance Programme to clear legacy electricity debts, with the offer opening Aug 3 and funding Aug 24, after the first ₦501bn tranche was fully subscribed. Energy Policy & Markets: The Presidency says power reforms are restoring investor confidence by turning legacy liabilities into bankable opportunities, while IPMAN warns against import licence moves that could worsen petrol price volatility and naira pressure. Oil & Gas Licensing: Nigeria is pushing ahead with the 2026 oil and gas licensing round after 37 blocks were awarded in 2025, though some frontier acreage is seeing weaker appetite. Agriculture & Food Security: Edo will distribute free fertiliser to 12,000 profiled farmers, and new analysis flags a rise in partial crop losses driven by climate shocks and insecurity. Youth & Skills: FG launches YouthCred for Entrepreneurs, offering N200,000–N2m loans to 500,000 young entrepreneurs without collateral; Lagos unveils a Renewed Hope Creative and Innovative Hub for digital and creative skills. Maritime & Transport: The Senate steps down the Coast Guard bill for more consultations and demands urgent reconstruction of the Bauchi–Ningi highway. Aviation Safety: NSIB and NCAA move to strengthen family assistance for aircraft accident victims. Digital Economy: Nigeria’s data protection push gains momentum as stakeholders work to improve practical use of the NDP Act 2023 beyond consent-only processing.

Oil & Gas Bids: Nigeria’s NUPRC has concluded its 2025 commercial oil bid process, with 31 firms winning 37 oil and gas blocks after an eight-month exercise; the commission targets at least 300,000 bpd and 500m barrels of additional reserves within three years. Housing Finance: Nasarawa Gov. Abdullahi Sule urged the federal government to recapitalise FMBN to N500bn to close Nigeria’s housing deficit, while FMBN also said it delivered 1,590 homes and N9.5bn renovation loans to civil servants in the state. Monetary Policy: CBN retained the MPR at 26.5% as it weighs global risks and aims to keep inflation on a sustained downward path. Power Sector Funding: FG plans a fresh N729bn power bond after the successful N501bn issuance, as reforms under Project Hoover aim to stabilise the electricity market and attract investors. Digital Inclusion & Consumer Credit: FG launched the C.L.I.C.K.D. consumer credit scheme for laptops and internet-enabled devices via CREDICORP, to deepen digital access and support local assembly. Banking & Fintech: Wema Bank won Euromoney’s Best Digital Bank for Consumers 2026; Uwaleke also urged digital banking to close gaps in reliability, rural connectivity, cybersecurity and digital literacy. Governance & Asset Recovery: ICPC handed over forfeited Goodluck Jonathan Estate land in Abuja to FMBN after court orders. Trade & Payments: CBN’s PAPSS push is framed as a practical step to ease cross-border payments and reduce FX frictions for Nigerian businesses. Regulation Watch: A court upheld FCCPC’s DEON rules for consumer lending but clarified FCCPC cannot issue telecom licences. Energy Diplomacy: Nigeria signalled stronger ties with the UK after new PM Andy Burnham’s emergence. Climate & Food Industry: Greenpeace escalated legal action against JBS over its $6bn expansion, with nearly half earmarked for Nigeria.

Oil & Gas Licensing: NUPRC says 31 firms won 37 oil and gas blocks in Nigeria’s 2025 licensing round after 143 companies submitted about 200 bids; the winners span Niger Delta, shallow/deep offshore and frontier basins like Benue, Chad, Anambra and Benin. Monetary Policy & FX: CBN Governor Yemi Cardoso reports external reserves rose to $52.52bn and MPC kept the Monetary Policy Rate at 26.5% for the second straight meeting, citing easing inflation but lingering global shocks. Ports & Logistics: FG, via PEBEC, plans to cut cargo clearance dwell time from 21 to seven days at Nigerian ports, using coordinated agency inspections and more scanner-based checks. Power Sector Finance: Government says it has settled ₦333bn GenCo legacy debt and paid the Series I bond coupon, as part of the Presidential power sector financial reforms programme. Rural Electricity: Tinubu appoints Ayo Fayose to chair the Rural Electrification Agency board, with new directors also named. Agribusiness & Food Security: Enugu flags off fertiliser distribution to 63,000 smallholder farmers, while a World UN report warns 8 in 10 Nigerians can’t afford a healthy diet. Digital Skills & Consumer Credit: CREDICORP launches the C.L.I.C.K.D. laptop/internet credit scheme, and Saidu B. Samaila & Co partners Chamco Digital to train Africans on AI and cloud skills. Geospatial Governance: SGF George Akume inaugurates the 10th Surveyors Council of Nigeria to modernise surveying and geospatial data standards. Security Policy Debate: House receives committee report on constitutional amendments to enable state police services.