AGP Executive Report

Anti-Corruption Crackdown: ICPC says it uncovered another fake agency inside the SGF office and President Tinubu ordered the arrest of the promoter, plus suspension of three Permanent Secretaries. Industrial Revival: FG signed a $1.3bn deal to revive Delta Steel Company via Premium Steel and Mines, targeting 1m tonnes of liquid steel capacity and 20,000 jobs. Transport & Mobility: NADDC warns mass adoption of CNG and EVs needs heavy private investment, especially for charging infrastructure; Innoson also urges review of EV component tariffs to protect local EV production. Energy & Markets: Naira strengthened to N1,346.90/$ as weekly FX turnover doubled; NGX dipped 0.29% with investors losing N444bn. Mining Safety: African mining ministers and groups warn that illegal mining must not cost lives after reports of deadly artisanal mining collapses. Digital Infrastructure: NITDA and the Budget Office set up a technical committee to drive Nigeria’s National Sovereign Cloud Initiative and cut duplication in public ICT spending. Elections & Accountability: Peter Obi urges candidates to face Nigerians directly, while women farmers push voter participation ahead of 2027. Maritime Security: Saudi Arabia seeks allies to defend Red Sea shipping as attacks disrupt oil shipments, with Nigeria among supporters.

Oil & Gas Workforce: NUPRC says Nigeria’s upstream talent pipeline is depleted after investment fell from about $24bn (2014) to roughly $2bn (2023), warning that faster project investment without skills will stall delivery. Offshore Investment Push: NUPRC also links new offshore incentives to a potential $50bn investment wave, but stresses upskilling and more digital-ready workers. Deepwater Output Plan: ExxonMobil affiliate Esso begins the Usan Infill Project with the arrival of the Noble Gerry de Souza drillship, targeting up to 40,000bpd incremental output in 18 months. Regulation & Labour: NMDPRA and PENGASSAN call for transparent, stable standards and stronger training to grow safe, sustainable petroleum operations. Power for Industry: FG targets 3,500MW for Lagos to end blackouts, focusing on generation, transmission, distribution and metering. Electricity Market Moves: NISO and NBET deepen collaboration to improve electricity market operations. Fintech & Capital Markets: Standard Bank is reportedly in talks to buy a stake in OPay ahead of its planned US IPO. Construction & Materials: Cement pricing remains a flashpoint as BUA’s earlier ₦3,500 promise is contrasted with retail prices reportedly rising to around ₦15,000, while regulators probe price manipulation. Agriculture Inputs: Cross River starts distributing 20,000 fertiliser bags to 8,000 farmers under FISP to cushion input costs. Security & Illegal Mining: NSCDC Mining Marshals plan intensified crackdowns on illegal mining funds tied to banditry, kidnapping and terrorism. Maritime Access: US lifts 12-year port security restrictions on Nigerian vessels after ports meet antiterrorism measures. Local Content & Human Capital: OGTAN conference highlights renewed focus on building bankable oil and gas skills as investment returns. Creative Economy & IP: US-Nigeria workshop pushes stronger music copyright protection to unlock investment and revenue. Niger Delta Diversification: NDDC backs a three-year tourism programme for Bonny to reduce oil dependence. Politics & Fuel Subsidy: Tinubu rejects calls to restore fuel subsidy; Atiku counters with a production-based, capped, trackable model—fuel subsidy remains the dominant policy fight heading into 2027. Road & Infrastructure: FG signs a sub-lease to revive Delta Steel Company, while lawmakers push urgent road repairs like Mutum Biyu–Garba Chede Road in Taraba.

Petrol Subsidy Showdown: Nigeria’s Presidency brands Atiku Abubakar’s 2027 plan to restore fuel subsidy “retrogressive” and fiscally unsustainable, saying the Petroleum Industry Act made the old regime illegal and demanding full cost and funding details. Energy & Investment: NESG appoints Chevron Nigeria/Mid-Africa boss Jim Swartz to its board, while NUPRC pushes deeper offshore tax and production incentives. Oil Sector Revival: FG signs a $1.3bn sub-lease deal to revive Delta Steel Company, aiming to restart integrated steel production at Ovwian-Aladja. Tax Disputes & FDI: Tax Ombud and OGFZA plan inter-agency mediation to resolve oil and gas free zone tax/fee/customs grievances and protect investor confidence. Infrastructure Beyond Cities: VP Shettima says Tinubu’s strategy is spreading roads and jobs beyond major hubs, highlighted by the Elele-Umudioga-Egbeda-Ubimini-Akpabu-Ikiri-Omoku dual carriageway in Rivers. Digital & Connectivity: FG expands a 90,000km fibre-optic push and unveils “Ember to Remember 2026,” a national digital events calendar for tourism. Industry Policy: Reps and NADDC seek stronger legislative muscle for Nigeria’s automotive sector as nearly 40 vehicle assembly plants reportedly operate. Biotech Policy: FEC approves the revised National Biotechnology Policy 2026 to drive research, commercialisation and industrial use. Markets: NGX extends losses as investors pull back, with market value down about N440bn.

Agribusiness & Food Security: FG unveiled a National Agricultural Mechanisation Policy and Investment Strategy to build a “mechanisation-as-a-service” ecosystem across the whole farm value chain. Farm Tech: A Katsina poultry expert, Abbas, launched PoultryPro, a digital/AI-style farm management platform that turns daily records into performance insights for egg output, feed use, health and costs. Fertiliser Support: NADF approved free fertiliser for 128,930 smallholder farmers—515,720 bags of urea and NPK—plus plans to deploy extension advisory workers. Ports & Shipping Governance: NAGAFF hailed NPERA as a game-changer for port economic regulation, aiming to separate NPA operations from economic oversight. Power Sector Reform: Power minister Tegbe says underperforming DisCos and GenCos will face sanctions via performance scorecards, alongside tariff and metering reforms to cut losses and boost supply. Oil & Infrastructure Security: NSCDC in Adamawa arrested three suspects over alleged vandalism of 250 NNPC pipes. Petroleum Pricing: Dangote Refinery expanded free petrol delivery to 10 states/FCT and cut ex-depot price to ₦1,165/litre. Policy & Finance Accountability: Finance Minister Oyedele defended World Bank loans and urged Nigerians to stop attacking the lender without understanding how the system works. Digital Skills for Industry: NCDMB and GRUFIX trained 50 Kaduna youths in Google Mapping and GIS for jobs and local content in tech/energy.

Road & Health Infrastructure: FEC approved N438bn road projects nationwide, including the Port Harcourt–Onne Port Junction East-West Road upgrade (N74.51bn) and other major links, while also clearing N1.02tn for roads plus a new National Cancer Research and Treatment Centre in Abuja (N302.30bn). Maritime Security: The Nigerian Navy began Exercise Littoral Fury in Cross River to sharpen tactical live-firing skills against piracy, sea robbery and oil theft. Education Financing: Tinubu directed EFCC-recovered, legally cleared funds and transfers from unclaimed dividends/dormant accounts to NELFUND to expand student loans. Power & Transmission: Nigeria added 780MVA to Lagos’ grid with eight transformer projects, and Japan/JICA committed N20bn to rehabilitate and expand transmission infrastructure. Consumer Protection: FCCPC ordered manufacturers and retailers to withdraw goods with incomplete or misleading labels. Oil & Gas Investment Push: NUPRC says Tinubu’s deep offshore tax remission order could unlock about $50bn and add 1mbpd in deepwater output. Equities Watch: NGX fell for a seventh straight session as Aradel dragged oil & gas stocks. Skills Over Certificates: Tinubu urged universities and TVET boards to prioritize practical skills and innovation for jobs.

Drug Enforcement: NDLEA says it seized 184.5kg of cocaine worth about N39bn at a Lagos courier facility and arrested influencer “KC Luxury” (Afolabi Kazeem Micheal) at Murtala Muhammed Airport as he tried to flee to Paris, alleging he was the “arrowhead” of an international cartel. Consumer Protection: FCCPC orders manufacturers and retailers to withdraw products with misleading or incomplete labels, citing missing production/expiry dates, batch numbers and manufacturer details. Industrial Capacity: Textile, apparel and footwear firms ran at only 53.05% capacity in 2025, leaving nearly half of installed output idle and deepening Nigeria’s production crisis. Competition & Pricing: FCCPC probes suspected cement price manipulation after retail bags hit up to N15,000, despite excess local production capacity. Ports & Shipping: Nigeria’s ports economic regulator, NPERA, begins operations to set fair tariffs and improve competition and cargo clearance. Electricity Market: NISO and NBET pledge joint action to stabilise electricity market liquidity and boost investor confidence. Energy/Refining Politics: Sen. Ben Murray-Bruce urges Tinubu to treat refinery rehabilitation as a “national obsession” to cut fuel import dependence. Maritime Security: US Coast Guard lifts a 12-year Condition of Entry on Nigerian vessels, citing improved security compliance.

Cement Market Probe: FCCPC opened a fresh cross-border investigation into Nigeria’s cement pricing, citing possible manipulation as a 50kg bag reportedly rose from about ₦9,300–₦9,700 in January to ₦13,000–₦15,000 in some areas by July, despite excess capacity. Digital Infrastructure Push: FG unveiled a National Digital Cloud Policy targeting $750m private investment in 24 months to grow local cloud capacity and digital services. Industrial Finance Boost: BOI’s ₦250bn Series 1 bond was oversubscribed within five working days, with the bank linking demand to Tinubu-backed incentives and stronger domestic capital-market appetite. Payments Expansion: Mastercard and TeamApt (Moniepoint subsidiary) partnered to let TeamApt operate on Mastercard’s global network as a non-bank acquirer, aiming to widen card acceptance for SMEs. Maritime Trade Relief: The US lifted its 12-year Conditions of Entry on Nigerian vessels, expected to cut shipping costs and improve port competitiveness. Ports Regulation: NPERA began operations as Nigeria’s ports economic regulator after the Ports Economic Regulatory Agency Bill was assented to. Agriculture & Food Security: AFAN said thousands of displaced farmers are returning to farmlands, while Remi Tinubu launched a National Community Food Bank Programme to tackle food insecurity and malnutrition. Security & Enforcement: NDLEA arrested KC Luxury and a logistics worker over 184.5kg cocaine seized from a courier consignment. Education & Skills: Kano awarded ₦27.8bn for ICT/CBT centres across 44 LGAs, each planned to include 300 computers.

Artisan Skills Upgrade: ITF begins nationwide SUPA certification exams for 7,795 Nigerian artisans across 27 states, aiming to cut quackery and raise global competitiveness. Power & Industry Support: FG commissions upgraded Ijora and Apapa transmission substations in Lagos, adding 208MW to the national grid to ease delivery constraints. Fuel Market Watch: Dangote Refinery expands free petrol delivery to Kano, Imo, Anambra and Nasarawa (10 states total), with marketers buying at N1,165/litre and getting a 10-day payment window. Macroeconomy: Nigeria’s inflation eases to 15.43% in July as food inflation accelerates to 20.31%, while the naira strengthens to about N1,349–N1,350/$ on improved FX liquidity. Capital Markets: 24 companies control 74.8% of NGX equities value, underscoring market concentration even as equities extend a bearish streak. Cybersecurity: Digital Encode launches DEPAS AI, Nigeria’s first autonomous platform to detect and counter AI-led cyber threats. Trade & Manufacturing: Nigeria-China trade hits $18bn in H1 2026 under China’s zero-tariff policy, boosting exports and imports. Agribusiness: Cassava processors may need buyers for 60%+ of output to unlock financing, as lenders demand stronger commercial readiness. Security & Enforcement: NDLEA launches “Operation Restore Order” in Kano, arresting 80 suspects and recovering illicit substances. Tech for Defence: Terra Industries raises $18m more, taking seed funding to $52m, as it expands drone manufacturing in Ghana and opens a London office. Cocoa Compliance: EU deforestation rules tighten cocoa supply outlook, raising traceability costs for Nigerian farmers and exporters.

Disaster & Built Environment: UNICEM Hospital in Calabar collapsed after heavy rainfall and severe soil erosion, renewing calls for stricter building regulation and geological checks before construction on unstable slopes. Digital Infrastructure: FG unveiled a National Digital Cloud Policy targeting $750m private investment in 24 months to grow local cloud/data centres, jobs, and Nigeria’s digital sovereignty. Housing & Skills: NIOB urged stronger builders’ advocacy to tackle Nigeria’s housing deficit, while ITF said it has funded international certification for 7,000 artisans under SUPA. Agribusiness Exports: ITC began a Benue assessment to improve cowpea and sesame exports to Europe by tackling issues like pesticide residues. Energy & Power: FG commissioned upgraded Lagos transmission substations adding 208MW to boost grid capacity for industry. Security & Agriculture: Suspected bandits murdered a farmer in Kogi along the Obajana–Kabba corridor, highlighting risks to rural livelihoods. Economy Watch: Nigeria’s headline inflation eased to 15.43% in July, though food inflation rose to 20.31%. Tech Security: NITDA warned Zoom users about a vulnerability that could let attackers take over accounts, urging updates and MFA. Industrial Finance: BOI will partner NIPSS on the Orange Economy summit, aligning with the $1trn economy push.

Defence Manufacturing Push: DICON-D7G, partnering Eagles International for Defence Systems, says Nigeria will locally build armored vehicles and counter-drone platforms (MRAP-Buffalo, Rhino Guard GXR, APC Moon PT6, BMP-2), targeting 200+ jobs and tech transfer. Capital Markets & Industry Finance: Dangote Sugar Refinery raised N498.57bn in its rights issue (102.6% subscription), funds for backward integration to cut import dependence. FX & Macroeconomy: CBN sold $953.41m in March 2026, its biggest FX intervention since April 2025, as reforms shift activity toward private inflows. Aviation Regulation Tension: NASF demands NCAA DG Chris Najomo’s resignation over regulatory failures tied to the 5% Ticket Sales Charge dispute, urging deeper House probe. Trade & Export Readiness: Stakeholders warn Nigeria could miss China’s $18bn zero-tariff export window unless production, processing and export capacity improve. Sugar Self-Sufficiency Plan: NSDC unveils a $1bn SINOMACH EPC-plus-finance push plus a ₦10bn acceleration fund to boost local sugar output. Ports Charges Accountability: SEREC calls for transparent port charges and accountability for operational delays after freight forwarders raised refund and charge disputes. Youth Innovation Pipeline: NASENI selects 60 young innovators for its FutureMakers virtual hackathon and pitch sessions, with ₦5m grand prize. Energy Competition Watch: Sonatrach begins Jet A1 supply to Niger, potentially intensifying Sahel fuel competition with Dangote. Textile Industry Pressure: NBS data shows textile imports surged to N1.08trn in 2025 and may hit ~N1.4trn by year-end, underscoring local manufacturers’ cost and capacity struggles. Local Education Support: NNPC/Seplat STEP trains 127 teachers and education evaluators in Imo with digital teaching and income skills.

Telecom Rollout: FG targets mid-2027 to connect all riverine communities to telecoms, with 3,700 rural facilities already being installed and Obighoro-Ogheye flagged for October. AI & Media Integrity: CJID’s Dubawa AI is pushing West Africa’s fact-checking forward by training models to spot verifiable claims before they spread. Mining & Safety: Solid Minerals Minister Dele Alake says Plateau has 4,000+ abandoned mine pits that can be turned into energy, tourism and fishery projects, after a Kassa pit collapse killed seven and renewed warnings against illegal mining. Extractives Transparency: EITI validation assessors commend NEITI for improved systematic disclosures and real-time publication across Nigeria’s oil and gas sector. Power & Industry Data: NBS electricity-access figures show South East leads (74.6%) while North East lags (29.5%), reigniting debate on what “access” means for households. Capital Markets: NGX postponed revised equities pricing rules meant to start Aug. 17, saying the framework is delayed, not cancelled. Agribusiness & Jobs: NSDC plans a $1bn pipeline and N10bn acceleration fund to hit sugar self-sufficiency, cutting Nigeria’s $1bn annual import bill. Construction Safety: Kano building collapses killed five and evacuated 500+ in separate incidents, highlighting ongoing site safety gaps. Education & Skills: UBEC reopens a second-chance alternative high school for girls and young mothers in Lagos, combining academics with vocational training.

Fuel & Shipping: Fresh petrol and diesel cargoes have arrived at Lagos and Warri terminals, with depot prices easing as marketers compete, narrowing the gap between Dangote’s retail rate and imported PMS to about ₦2 per litre. Finance & Credit: FCMB has lifted its FastCash instant loan ceiling to ₦500,000, pushing more short-term credit through its mobile app and USSD channel. Capital Markets: NGX will start a revised equities pricing methodology Monday, using tiered minimum traded volumes to influence when published prices move; meanwhile, SEC ordered capital market operators to freeze funds linked to six alleged terror financiers and three bureau de change firms. Industrial Policy: BOI says 80% of large-enterprise lending will target priority sectors like power, manufacturing, agribusiness, pharma and digital infrastructure. Energy Security & Geopolitics: With Strait of Hormuz tensions and attacks on vessels, the region’s fuel supply risk is rising—prompting renewed focus on maritime security and resilience. Governance & Elections: Osun election results put Ademola Adeleke ahead of APC’s Bola Oyebamiji, with Adeleke saying Tinubu called to congratulate him. Pensions: Nigeria’s pension remittances fell 38% to N559.4bn in Q1 2026, even as PenCom reported recoveries from defaulting employers. Tech & Telecom: DStv Stream users in Nigeria and South Africa report live-channel disruptions after a seven-channel cut. Aviation Logistics: NCAA plans RFID baggage tracking to reduce missing and mishandled luggage at airports. Security & Defence Manufacturing: DICON-D7G says it’s moving toward local production of armoured vehicles and anti-drone platforms via a partnership in Cairo.

Industrial Finance & Growth: A new analysis argues Africa’s next deal cycle will be driven by how projects are financed, citing a surge in announced M&A and record equity/debt issuance in H1 2026. Manufacturing & Jobs: NEPZA says the $300m Abuja Industrial Park (250 hectares) could host 170+ factories and create about 40,000 direct and indirect jobs, urging nearby communities to protect the site. Fiscal Federalism: RMAFC says it has completed Nigeria’s revenue allocation formula review and remuneration review for political, public and judicial office holders, with proposals at advanced stages for approval. Energy & Refining: Tinubu tells NUPENG refineries won’t be allowed to waste away, promising evidence-based restructuring to return them to profitable operation. Health Tech Localisation: Nigeria targets technology transfer plus local assembly and servicing of radiotherapy and imaging equipment by 2030 through a China partnership. SME Funding: SMEDAN launches BRYNE, offering ₦250,000 weekly seed grants to 52 winners via training, incubation and mentorship. Water Infrastructure Risk: CAPPA warns Lagos against concessioning parts of public water infrastructure, citing transparency concerns around a China Harbour-led MoU. Connectivity & Industry: Airtel Africa and Starlink launch satellite-to-mobile service commercially in DRC, extending coverage beyond conventional towers. Capital Markets: NGX sentiment weakens as the All-Share Index slips, with market value down sharply after a volatile week. Transport & Logistics: A major transport conference (TTC2026) draws 950+ delegates across 27 countries to rethink transport as a service. Security & Disruption: Troops intercept arms and explosives linked to terrorist logistics in Katsina/Zamfara operations.

Security & Conflict: At least 20 people were killed in fresh clashes between Kambari and Fulani communities in Niger State, with lawmakers calling for heavily armed security to stop militia reprisals linked to jihadist recruitment. Customs & Trade Integrity: Nigeria Customs in Ogun intercepted 6,035 parcels of Ghana Loud/Indica and other smuggled goods worth N3.57bn, including foreign rice, sugar, PMS, diesel, fertiliser and second-hand clothing—warning smuggling is “economic sabotage” that hurts local industry and food security. Energy & Capital Markets: Dangote Refinery is moving toward a planned $5bn “people’s IPO” for Nigerians after filing with the SEC; CEO David Bird says foreign listing is at least three years away, while modular refiners reject NUPRC crude allocation terms for Q2. Regulation & Fintech: The SEC admitted Blockchain.com into its ARIP sandbox for Nigeria’s digital asset market, while also ordering CMOs to freeze assets tied to designated terrorism financiers. Agriculture & Finance: CBN data shows credit to agriculture rose to N3.86tn in March 2026 as oil and gas lending fell, and China’s zero-tariff push lifted Nigeria exports to China by 80% to $2.3bn in H1. Power Sector: Experts warn power bond issuance may ease liquidity but won’t fix structural issues like non-cost-reflective tariffs and collection inefficiencies. Aviation & Industry Labour: Aviation unions’ picketing of Air Peace drew backlash over safety and remittance disputes, as Ibom Air prepares to take delivery of its third Airbus A220-300. Health & Consumer Safety: NAFDAC says Deleject disposable needles are safe after investigation, citing possible mishandling during transport rather than manufacturing defects. Diaspora & Investment: Tinubu urged Nigerians abroad to invest productively at home—beyond remittances—across agro-processing, tech, energy, logistics, mining and export manufacturing.

Energy & Infrastructure Finance: Nigeria’s Gas Infrastructure Fund (MDGIF) is expanding global cooperation to close a reported $20bn gas infrastructure gap, backing about 200 projects and pushing new commissioning plans. Oil & Refining Policy: NUPRC is consulting on a domestic crude and gas swap to cut supply costs and improve feedstock availability for local refineries, citing 53.7m barrels supplied to refiners in Q2. Trade & Exports: Nigeria-China trade hit $18bn in H1 after China’s zero-tariff policy; stakeholders warn Nigeria must fix production and processing capacity to turn the new access into sustained export earnings. Aquaculture Forex Push: Power Minister Tegbe urges swift implementation of the Nigeria-China aquatic products protocol, which grants zero-tariff access to China’s 1.4bn consumers. Labour & Pay: FG inaugurated the new NSIWC board, tasking it with fair wages, productivity and industrial harmony. Human Capital & Skills: NLNG and NCDMB broke ground for a research and innovation centre at Rivers State University to strengthen engineering capacity. Youth Development Funding: Plan International calls for better budget allocation for youth software, education and digital skills. Food Systems & Jobs: FG, FAO, ECOWAS and EU seek investment to close Nigeria’s 2.2m tonne fish supply gap. Insurance Recapitalisation: Universal Insurance secured a N7.128bn capital deal to meet NAICOM minimum requirements. Water Safety Campaign: FG and Nestlé launch a nationwide campaign to tackle unsafe drinking water through community education. Security & Displacement: IOM says 74% of IDP locations in Northwest Nigeria lack adequate shelter, with sanitation also largely inadequate.

Refining & Energy Policy: President Tinubu pledged to revive Nigeria’s moribund refineries, saying the government will do a “reset and structural reworking” so facilities return to profitable operation, while NNPC welcomed deep offshore tax incentives expected to unlock over $50bn and lift output toward 3mbpd by 2030. Oil Market & FX: The naira strengthened to about ₦1,357.65/$ as corporate dollar demand eased, even as oil-price uncertainty lingered; Dangote’s refinery also signalled a retail-focused Nigeria IPO with no foreign listing for at least three years. Agribusiness & Exports: FG rolled out renewed hope agricultural seeds to cushion delayed rainfall impacts, while NAQS signed a Nigeria–China aquatic products protocol for zero-tariff access to China’s 1.4bn market; ex-IGP Adamu empowered 2,800 Nasarawa farmers with fertilisers and farm tools. Trade, Industry & Regulation: Nigeria Customs said its digital VIN-valuation system is tightening clearance and reducing revenue leakage amid public scrutiny; NAFDAC and Ogun police launched a crackdown on sachet and small PET alcohol. Capital Markets: NGX fell 0.39% as investors stayed cautious, wiping about ₦613bn in market value. Skills & Jobs: Schneider Electric launched an “Advancing Energy Tech” mentorship across Nigeria and the region, and YABATECH graduated over 50 trainees from TETFund skills programmes. Security: Troops rescued nine kidnap victims in Niger State and arrested 20 suspects in Plateau, repelling attacks linked to Lakurawa in Kebbi.