AGP Executive Report
Last update: 6 hours agoMarkets: The naira weakened 0.22% to N1,349 per dollar in the first week of November as FX turnover slowed to about $1.45 billion. The NGX has also shed N3.28 trillion in a broad sell-off, with Dangote Cement accounting for much of the decline. Power: Gas shortages, low water levels and maintenance at Egbin have worsened outages; the minister says supply could improve within 48 to 72 hours, as businesses face higher costs for backup power. Digital Finance: New CBN rules require foreign-currency stablecoin issuers to secure Nigerian licences, establish local entities and meet a N15 billion capital floor; algorithmic stablecoins are banned. Trade and Investment: UK-Nigeria trade has reached £7.3 billion, while President Tinubu has approved the Ibom Deep Sea Port. Nigeria’s exports have risen 25% in two years. Creative Economy: Afreximbank has raised its financing commitment for Africa’s creative industries to $2 billion and is developing a $1 billion pan-African film fund.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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