AGP Executive Report
Last update: 12 hours agoCapital Markets: The NGX added N140bn on Friday to reach a record N165.1tn, capping a month in which market value rose about N2tn. Refining: Dangote Refinery’s IPO drew ₦2.15tn in applications from investors across 120 countries, but Nigerians are still waiting to see cheaper fuel at the pump. Seven modular refineries are also projected to begin operations in 2027, adding 83,000 barrels per day of capacity. Energy Finance: Afreximbank and APPO formally established the $5bn Africa Energy Bank to fund projects across the energy chain, amid an estimated $200bn in continental investment needs. Corporate Earnings: MTN Nigeria’s nine-month profit rose 55.3% to ₦1.17tn, while service revenue climbed 23.7% to ₦4.6tn. Cost of Living: Manufacturers warn that the new excise-stamp system could add costs and put pressure on prices for some goods. The Federal Government has also begun ₦50,000 monthly cash payments to vulnerable households.
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