AGP Executive Report
Last update: 2 hours agoBorrowing: President Bola Tinubu replaced a larger proposal with a request for $7.7bn in external loans to help fund the 2026 budget deficit; the Senate has referred it for review. Agriculture: A new federal programme will turn underused farmland at 20 tertiary institutions into commercial farms, targeting students and graduates with financing of up to N2bn per institution. SME Finance: The Bank of Industry and IFC signed a $50m, seven-year loan to expand long-term financing for small businesses, with at least a quarter earmarked for women-owned firms. Business Pulse: Nigeria’s private sector grew for a fifth month in October, with the PMI reaching 53.2, while non-oil exports rose 25% over two years, according to the Nigerian Ports Authority. Markets and Currency: Bargain-hunting added N307bn to NGX investors’ wealth, but the naira weakened to around N1,348 per dollar amid renewed pressure on foreign-exchange supply. Energy and Industry: The Rural Electrification Agency launched 37 Zamfara mini-grid projects expected to add 18.8MW, as manufacturers warned that high power, transport and financing costs continue to undermine competitiveness. Oil: Brent crude fell below $95 a barrel, a potential hit to Nigeria’s export earnings and government revenue.
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