AGP Executive Report
Last update: an hour agoDangote Fertiliser Expansion: Africa Finance Corporation (AFC) commits $600m to back Dangote Group’s $7bn fertiliser growth plan, aiming to triple Nigeria urea capacity to 9m metric tonnes and build a 3m-tonne plant in Ethiopia. Inflation & Cost of Living: Nigeria’s headline inflation rises to 15.93% in May 2026, while cooking gas jumps about 50% to as high as N2,500/kg, squeezing households further. FX & Reserves: The naira starts the week slightly weaker at N1,363.83/$1 as foreign portfolio inflows drive $0.93bn into the market; reserves also climb to about $50.43bn. Power Security: TCN warns of sabotage after vandals destroy 14 spans of its 132kV line in Niger, with repairs estimated at least N32m. Capital Markets: NGX trades show mixed momentum after a holiday week, with investors buying/selling 4.964bn shares worth N207.5bn. Student Loans Scale-Up: NASS and NELFUND move to expand the scheme from 1.6m to a projected 7m beneficiaries. Terror Prosecution: Nigeria arraigns 400+ terrorism suspects in Abuja, following earlier mass trial convictions. Politics & Courts: A Warri NDC aspirant sues for ₦5bn over alleged cancellation of a primary. Security & Migration Spillover: South Africa repatriates 2,745 foreigners amid tightened anti-illegal immigration enforcement, with cross-border business and entertainment impacts.
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