AGP Executive Report
Last update: 2 hours agoCurrency & Markets: The naira strengthened to N1,331.19/$ at the official market on Friday, while the parallel rate held at N1,385. The NGX also rebounded 0.13% after seven losing sessions. Fuel Costs: The government says NNPC’s 30-day petrol discount comes from giving up its retail margin, not public subsidy. But access is limited to NNPC stations, and the NLC has given the government two weeks to cut petrol prices and reopen minimum-wage talks. Investment: JPMorgan plans to open a Nigerian merchant bank before year-end, subject to approval, as it expands its local presence. Energy: Crude production rose to 1.821 million barrels per day in September; NBET has begun settling N729 billion in debts to power generators and gas suppliers. Business Outlook: The World Bank forecasts 4.3% economic growth in 2026, while warning that poverty and job creation remain pressing challenges. Mobility firm Moove is exiting Nigeria and transferring N35 billion worth of vehicles to customers.
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