AGP Executive Report
Last update: 4 hours agoPower Upgrade in Lagos: TCN commissioned upgraded Ijora and Apapa substations, adding 208MW to the national grid—Ijora up to 230MVA and Apapa Road to 180MVA—aimed at easing bottlenecks around Apapa, Tin Can Island Port and major industrial corridors. Housing Finance Push: FG, through FMBN’s National Housing Fund (NHF) Mortgage Loan, opened a pathway for eligible Nigerians to access up to N50m at ≤6% interest via accredited Primary Mortgage Banks, with repayment up to 30 years. Inflation vs Cost of Living: Nigeria’s headline inflation eased to 15.43% in July, but economists point to persistent food-price pressure, with food inflation rising to 20.31%, keeping household costs high. Security and Trade Controls: NDLEA vowed to crush drug cartels as it destroyed illicit drugs in Lagos; Nigeria Customs named importers behind 399 pump-action rifles seized at Tin-Can Island. Ports and Logistics Friction: Truckers are reportedly shunning NPA truck parks at Onne Port, worsening cargo evacuation delays. Digital Inclusion Plan: FG says it will install 3,700 telecom towers to connect rural and riverine communities by mid-2027. Markets/Business: BOI’s N250bn bond closed oversubscribed; HBM Nigeria reported H1’26 profit up 57% to N208bn. ECOWAS Startup Awards: ECOWAS set Sept. 28 for a $65,000 (N91m) startup competition for 60 firms across fintech, agri-tech, ed-tech, cleantech and more.
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