AGP Executive Report
Last update: 8 hours agoDangote IPO Watch: Nigeria’s SEC has approved Dangote Petroleum Refinery’s IPO at ₦525 per share, offering 4.1 billion shares and targeting about ₦2.15tn ($1.55bn), with the offer expected to open around Sept. 14 as the refinery seeks to more than double capacity. FX & Reserves: The naira strengthened to about ₦1,302/$ at the official market and external reserves crossed $54bn for the first time since 2008, boosting confidence in liquidity. Fuel Subsidy Politics: Opposition and labour voices renewed the subsidy argument, with Atiku accusing Tinubu’s hardship of pushing youths to sell kidneys, while PENGASSAN says the debate is over and Nigerians must now see benefits. Housing & Jobs: FG opened applications for ₦50m equity-free grants for 50 student ventures, while it also discussed large-scale housing partnerships with a Chinese firm to tackle Nigeria’s housing deficit. Local Business & Mobility: PromiseLand will launch ProTaxi, a homegrown e-hailing platform, on Oct. 1. Security & Health: NARD demanded prosecution after an alleged assault on a doctor in Abuja, and reports said 37 died from toxic fumes during alleged petrol theft in Rivers.
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