AGP Executive Report
Last update: 2 hours agoEFCC Crackdown: The anti-graft agency has declared ex-pension boss Abdulrasheed Maina wanted again over alleged receiving of stolen property, urging the public to share information through its offices and hotlines. Monetary Policy Impact: With Nigeria’s MPR cut by 350bps to 23%, manufacturers and the Lagos Chamber of Commerce and Industry want banks to pass the benefit to lending, but warn high CRR (45%) could still choke credit to SMEs. FX and Reserves: CBN Governor Olayemi Cardoso says Nigeria’s FX reserves have crossed $55bn, the highest in 18+ years, citing stronger diaspora remittances and improved liquidity. Energy and Gas Investment: Tinubu hailed the $800m Ima Gas project’s Final Investment Decision, while NUPRC welcomed it; Nigeria also urged investors to hit FID within six months. Fuel Costs and Deregulation: Fuel prices reportedly rose to about ₦1,400/litre despite Dangote refinery running at full capacity, as NMDPRA pushes meter checks. Capital Markets: NGX equities extended gains, and Zeenab Foods raised ₦45bn via a hybrid commercial paper offer. Trade and Security: US lifted its 12-year Condition of Entry on Nigerian vessels, a move shipping lines say could boost Nigeria–US trade. Education Financing: Nigeria and Italy back a $5bn global education financing push under the Global Partnership for Education. Entrepreneurship Push: Tinubu welcomed Korea-funded $12m Abuja Centre for Entrepreneurship to support MSMEs and jobs.
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