AGP Executive Report

Telecom Infrastructure Push: Nigeria’s telecom operators added 5,000+ new coverage/capacity sites and extended fibre to 700+ sites, while 75m+ affected subscribers received compensation after poor service. Broadband Shift: Fixed-fibre (FTTH) subscriptions rose sharply, and regulators are urging more fibre build-out to ease pressure on mobile networks. Clean Mobility Investment: Spiro secured a $215m equity raise to expand electric motorcycles and battery-swapping across African markets, including Benin, with plans to scale infrastructure and industrial footprint. AI Infrastructure Focus: The World Economic Forum named 100 “Technology Pioneers” building the software and physical infrastructure for next-era AI, spanning energy, advanced manufacturing and biotech. Road Works Discipline: Nigeria’s Works Ministry warned contractors not to block roads for more than 14 days and demanded visible progress on legacy projects. Energy & Trade Signals: Nigeria’s solar panel exports hit N85.8bn in Q1 2026, with the US as top buyer, pointing to growing local renewable manufacturing. Labour Policy Shock: Kuwait restricted domestic worker recruitment to a short approved list that includes Benin, while banning many other African source countries. Embedded Insurance Growth: Turaco won Innovation of the Year at the African Insurance Awards for embedded insurance reaching 5m+ people. Security & Governance Pressure: Calls for state police and wider digital connectivity for policing (Project BRIDGE) gained attention amid ongoing insecurity debates. Benin-Linked Media Rights: Ivory Coast journalists protested attempts to control the press, with RSF also raising concerns involving a Beninese journalist case.

Roads & Construction: Delta State says the Asaba–Ughelli Expressway has been pushed from about 33% completion to full delivery in Oborevwori’s first years, cutting travel times and setting up further gains with the Otovwodo Junction flyover. Digital Infrastructure for Security: Nigeria’s Project BRIDGE plans to turn police stations into digital connectivity hubs, extending fibre from 30,000km to 120,000km and linking LGAs, schools, health facilities, agro-industrial zones and cross-border routes including Benin. Energy & Industry Leadership: Seplat Energy names Engr. Effiong Okon as incoming CEO (from Aug 1, 2026) and Tony Elumelu as new chairman (from Jan 1, 2027), signaling deeper gas and energy-transition focus. Electric Mobility Investment: Spiro secures $215m equity to expand EVs and battery-swapping across African markets including Benin, with 100,000+ EVs and 2,500+ stations reported. Power Sector Debate: TCN rejects claims of transmission grid constraints, citing capacity to wheel 8,700MW and pointing to wider value-chain issues behind dispatch shortfalls. Food & Agri-Industry: Afreximbank commits $83bn to Nigeria and highlights industrial parks and value addition, while an African food alliance urges agroecology at Bonn climate talks. Insurance & Fintech Inclusion: Turaco wins Innovation of the Year at the African Insurance Awards for embedded insurance reaching 5m+ people. Security & Public Safety: Edo police uncover a staged kidnapping scam in Benin City targeting ₦50m ransom, while broader calls for state police grow amid ongoing abductions. Manufacturing/Consumer Goods: Julius Berger reports strong 2025 results ahead of its 56th AGM, and cooking gas retailers warn LPG shortages persist despite fresh imports.

Construction & Infrastructure: Julius Berger Nigeria PLC posted strong 2025 results ahead of its 56th AGM on June 18, with revenue up 34.1% to ₦566.71bn and profit before tax up 38.5% to ₦40.95bn, plus a proposed final dividend of ₦4.25 per share. Energy & Power: The Transmission Company of Nigeria pushed back on claims of grid constraints, saying the network can wheel 8,700MW and pointing to dispatch limits across the value chain. Renewables & Climate Risk: A new study warns Africa’s regional solar power pools face rising synchronization risk as climate change drives more simultaneous low-output days. Electric Mobility Investment: Spiro secured $215m equity to expand EVs and battery-swapping infrastructure across African markets including Benin, targeting more local jobs and industrial capacity. Agri-Food & Climate Policy: An African food alliance urged UN climate negotiators in Bonn to put agroecology at the centre of farming support and climate action. Security & Public Safety: Edo police arrested suspects over a staged kidnapping and ₦50m ransom scam, while broader kidnapping pressures continue to fuel calls for stronger state security measures. Local Business & Jobs: Skyewise Group says it has invested over ₦9bn in Edo State and created 100+ direct jobs through its new headquarters. Trade & Finance: Afreximbank committed $83bn to Nigeria since inception, highlighting industrial parks and citing Benin projects as examples of job-creating value addition. Industry & Consumer Energy: LPG retailers report cooking gas scarcity persists despite new imports, with prices still high.

Electric Mobility Investment: Spiro secured a $215m equity round to scale electric vehicles and battery-swapping across Africa, listing operations in Benin among other markets, with plans to expand stations, assembly capacity and jobs. Energy & Consumer Costs: Cooking gas (LPG) retailers warn shortages persist despite new imports, with prices reportedly rising to as high as N2,400/kg and access to supply still constrained. Power Sector Accountability: Nigeria’s TCN rejected claims of transmission grid constraints, saying the grid can wheel 8,700MW and that dispatch limits stem from the wider electricity value chain. Benin–West Africa Trade & Security: Beninese President Romuald Wadagni met Côte d’Ivoire’s Alassane Ouattara to deepen cooperation on trade, infrastructure and energy amid shared security and economic pressures. Tourism & Heritage Infrastructure: China-backed works in Ouidah aim to turn the former slave trade port into a waterfront tourism complex, linking the La Marina site to heritage routes. Agri-Food Systems & Climate: An African food alliance urged UN climate talks in Bonn to put agroecology at the centre of farming support, arguing it boosts resilience for small-scale producers. Forest Foods Under Pressure: New research flags shrinking availability of forest and tree-based foods in biodiversity hotspots, including Benin, as traditional knowledge and supply face mounting strain. Security & Kidnapping Demands: Reports from Oyo State say abductors of pupils and teachers issued demands including release of detained commanders, ₦1bn ransom (linked to Benin accounts), two Hilux vehicles and Sharia-related law. Local Business & Jobs in Edo: Skyewise Group said it has invested over N9bn in Edo State and created 100+ jobs through its new headquarters.

Benin–West Africa Trade & Security: Benin’s President Romuald Wadagni kicked off his term with a working visit to Côte d’Ivoire, pledging stronger coordination on trade, infrastructure and energy to tackle shared security and economic pressures. Tourism & Heritage Infrastructure: China is helping turn Ouidah’s former slave-trade port into a waterfront tourism hub, with a La Marina complex linking the modern seaside to the historic “Slave Route” and “Gate of No Return.” Energy & Power Systems: A new study warns Africa’s solar power pools face rising climate-driven synchronization risk, meaning multiple countries could suffer low-output days at once—raising resilience concerns for regional electricity planning. Agroecology & Food Systems: An African food alliance urged UN climate negotiators in Bonn to put agroecology at the centre of farming climate action, arguing it can cut reliance on bought inputs while strengthening soil and crop diversity. Forest Security & Rural Livelihoods: Reports highlight states scaling up forest guards amid deepening insecurity, while separate research on Benin and other hotspots warns forest-based foods and indigenous knowledge are under pressure. Industrial Signals: Nigerian Sinotrucks’ Benin City groundbreaking points to renewed manufacturing momentum and local industrial ambitions. Local Business & Jobs: Skyewise Group says it has invested over N9bn in Edo State and created 100+ jobs via a new Benin City headquarters.

Benin–West Africa Diplomacy: Newly sworn-in Beninese President Romuald Wadagni continues resetting regional ties with a working visit to Côte d’Ivoire, pledging stronger coordination on trade, infrastructure and energy amid shared security and economic pressures. Tourism & Heritage Development: In Ouidah, China is helping turn the former slave-trade hub into a waterfront tourism destination, with a La Marina complex planned to link the modern seafront to the historic “Slave Route” and memorial sites. Regional Security & Governance: Benin’s new president also signals a shift toward the Sahel by visiting Niger and Burkina Faso early in his term, aiming to cooperate against terrorism and stabilize the sub-region. Industrial & Investment Signals: A separate business-facing story highlights Nigeria’s Sinotrucks’ Benin City groundwork for manufacturing expansion, underscoring how cross-border industrial investment narratives are shaping the wider West African production push. Energy & Power Reliability: Electricity disruptions in Nigeria’s Delta State (maintenance until June 16) are a reminder of how grid reliability directly affects local industry and logistics.

Benin–Côte d’Ivoire Diplomacy: President Romuald Wadagni met Alassane Ouattara in Abidjan, agreeing to deepen cooperation on trade, infrastructure and energy, with a shared focus on regional stability amid security and economic pressures. Energy & Power Reliability: AfDB’s Mission 300 Progress Tracker (MapAfrica) is now publicly tracking electricity-access projects across Africa, including Benin, while Nigeria’s TCN announced daily Delta power outages (10am–5pm) until June 16 for transmission substation maintenance. Food & Agribusiness Deal: Wilmar and TGI Group signed a 50:50 joint venture covering agriculture, palm oil, edible oils, rice and food manufacturing/distribution across Nigeria and the Republic of Benin, targeting a $12bn market. Industrial Investment Signal: Sinotrucks’ Benin City groundbreaking highlights continued manufacturing push and industrial expansion plans tied to Nigeria’s broader industrial future. Local Security & Community Pressure: Reports of armed groups and forest-related insecurity continue to raise pressure on governance and protection of livelihoods across the region.

Kidnapping Crisis in Oyo: Armed Ansaru-linked abductors in Oriire (Esinele, Yawota, Alawusa) have issued four demands to release schoolchildren and teachers: ₦1bn ransom, release of detained commanders (Mahmud Usman and deputy Abubakar Abba), two Hilux vehicles, and acceptance of Sharia-related law—after the killing of teacher Michael Oyedokun was shown in a video. Benin–Sahel Diplomacy: President Romuald Wadagni begins reshaping regional ties with a first foreign stop to Niger and Burkina Faso under the Alliance of Sahel States push for counter-terror coordination. Benin–Côte d’Ivoire Cooperation: Wadagni also met Alassane Ouattara in Abidjan, agreeing to deepen coordination on trade, infrastructure and energy amid West Africa’s security and economic pressures. Energy Access Tracking: AfDB launches Mission 300 Progress Tracker (MapAfrica) to monitor electricity projects, listing Benin among priority countries. Food & Agri-Industry Deal: Wilmar and TGI Group form a 50:50 West Africa agri-food JV spanning palm oil, edible oils, rice and food manufacturing/distribution across Nigeria and Benin. Electric Mobility Investment: Clean transport momentum continues as investors back scalable electric motorcycle platforms across Africa. Electricity Disruptions (Nigeria): TCN schedules daily Delta power outages (10am–5pm) until June 16 for substation maintenance affecting multiple feeders.

IMF Outlook: IMF projections point to broad African growth in 2026, with rates estimated between 5.9% and 9.2%; Nigeria is forecast at 4.1%, keeping it outside the continent’s fastest-growing group. Electric Mobility Investment: Investors are stepping up in Africa’s electric motorcycle push as the sector scales for urban and industrial demand, with major funding momentum highlighted in recent coverage. Tourism & Heritage (Benin): China is helping transform Ouidah’s former slave port into a waterfront tourism complex, linking the La Marina development to the “Slave Route” and memorial sites. Benin–Sahel Diplomacy: President Romuald Wadagni’s early trips to Niger and Burkina Faso signal a reset with the Alliance of Sahel States, aiming at closer security and cooperation ties. Energy Access & Power Reliability: AfDB’s Mission 300 tracker (MapAfrica) is monitoring electricity expansion across priority countries including Benin, while Nigeria’s TCN warns of daily Delta power outages during maintenance until June 16. Food & Agri-Industry Deal: TGI and Wilmar are forming a 50:50 joint venture covering palm oil, edible oils, rice and food manufacturing/distribution across Nigeria and Benin, targeting a $12bn market. Trade Risk Insurance: AfDB approved a $125m equity boost to ATIDI to expand political risk and credit insurance—supporting cross-border trade and investment.

Education Reform & Exams: NECO marks 25 years since its creation, having examined over 35 million candidates, with renewed focus on integrity, service delivery and adapting assessment to global trends. Diplomacy & Regional Security: Benin’s new president, Romuald Wadagni, begins reshaping ties with Sahel states—visiting Niger and Burkina Faso under the Alliance of Sahel States (AES) context—while also strengthening cooperation with Côte d’Ivoire on trade, infrastructure, energy and security. Power & Industry Continuity: Nigeria’s TCN schedules daily power outages in Delta from 10am–5pm until June 16 for substation maintenance, a direct hit to businesses and industrial operations in affected feeders. Agri-Food Investment: TGI and Wilmar strike a $12bn Nigeria–Benin food partnership via a 50:50 agri-food joint venture spanning palm oil, edible oils, rice and food manufacturing/distribution. Energy Access Tracking: AfDB launches the Mission 300 Progress Tracker (MapAfrica) to monitor electricity access projects, including Benin, with millions already connected and more expected. Trade Risk Insurance: AfDB approves a $125m equity boost to ATIDI to expand political risk and credit insurance, aiming to unlock investment and intra-African trade.

Energy & Power Reliability: TCN warned Delta communities of daily power outages from 10am–5pm until June 16 as it connects a bus coupler circuit breaker and rehabilitates isolators at the Delta 132/33kV substation. Regional Energy Access: AfDB launched the Mission 300 Progress Tracker (MapAfrica) to monitor electricity expansion, listing Benin among priority countries and tracking grid, mini-grid and solar projects. Trade & Risk Insurance: AfDB approved a $125m equity boost to ATIDI, aiming to expand political risk and credit insurance to unlock investment and intra-African trade. Benin–Côte d’Ivoire Cooperation: President Romuald Wadagni met Ouattara in Abidjan, agreeing to deepen ties and accelerate joint work on trade, infrastructure and energy. Security & Cross-Border Coordination: Burkina Faso and Benin pledged renewed cooperation on security, logistics and the Port of Cotonou supply chain. EV & Local Industry: Spiro raised $215m in equity to scale battery-swapping and expand manufacturing across markets including Benin. Civic & Youth Creativity: NGA Benin City hosted National Children’s Day art exhibitions, spotlighting winners in painting, graphics and fashion design. Governance & Procurement: Nigeria’s BPP says procurement reforms are reshaping thresholds and approvals—an angle that matters for regional business planning.

Regional Trade Finance: The AfDB approved a US$125m equity boost to ATIDI, raising its stake to about 14% and expanding political risk and credit insurance to unlock more intra-African trade and investment. Benin–Sahel Diplomacy & Trade Corridors: President Romuald Wadagni met Burkina Faso’s Ibrahim Traoré in Ouagadougou, agreeing to deepen security cooperation and improve logistics, with the Port of Cotonou highlighted as a key supply lifeline for landlocked Burkina Faso. Power & Industry Inputs: The World Bank says its West Africa power programme has added over 4,000 km of transmission lines, improved utility finances, and expanded electricity access for more than 3 million people—supporting cross-border power trade across WAPP countries including Benin. Clean Mobility Investment: Spiro secured US$215m in equity to scale electric motorcycles and battery-swapping infrastructure, with operations already in Benin and plans to expand further. Maritime Risk for West Africa: A UK–Ghana deal proposes a £101m floating dock and ship repair hub in Takoradi, aiming to cut the Gulf of Guinea’s costly repair trips to Europe or South Africa. Anti-Fraud Enforcement: EFCC arraigned a University of Benin staffer over alleged N3.2m salary duplication fraud, underscoring tighter controls around public payrolls.

West Africa Power Push: The World Bank says its regional power integration programme has expanded electricity access to over 3 million people and built 4,000+ km of transmission lines linking 15 countries, with a new push toward a regional electricity market to cut costs and improve reliability. Clean Mobility Investment: Spiro, an African EV and battery-swapping firm, secured $215m in equity to scale its swap network, manufacturing footprint and market reach, operating already in Benin, Nigeria and other cities across the continent. Agri-Food Deal: Wilmar and TGI Group signed a 50:50 joint venture combining agriculture, oil palm, edible oils, rice and food manufacturing across Nigeria and the Republic of Benin, aiming to serve a large consumer base. Benin–Sahel Diplomacy: Benin’s new president, Romuald Wadagni, travelled to Niger and Burkina Faso to reset ties, including talks on reopening the border and joint action against terrorism and cross-border crime. Energy Sector Watch (Nigeria): Nigeria’s Discos collected N196.13bn in March against N246.43bn billed, with collection efficiency at 79.59%, highlighting ongoing revenue recovery pressure. Security & Human Impact: Catholic leaders and partners called for united action against human trafficking across Africa, while regional reports point to rising jihadist violence and school abductions affecting communities in the wider Benin–Nigeria corridor.

Clean Power & Grid Links: The World Bank says its West Africa Regional Power Integration and Electricity Access programme is boosting supply and cross-border trade, with 4,000+ km of transmission lines built across 15 countries including Benin. EV Infrastructure Push: Spiro secured $215m in equity to expand battery-swapping and EV rollout across markets already including Togo, Benin, Nigeria and Cameroon, aiming to cut rider costs and speed up deployment. Benin–Nigeria Trade & Security Talks: Benin’s President Romuald Wadagni met Nigeria’s Tinubu in Abuja to deepen economic and industrial cooperation, energy and Gulf of Guinea maritime security, and ECOWAS engagement, citing rising Benin exports to Nigeria and interest in the Glo-Djigbé Industrial Zone. Agri-Food Industrial Deal: Wilmar and TGI Group signed a 50:50 JV covering agriculture, oil palm, edible oils, rice and food manufacturing/distribution across Nigeria and Benin. Energy Billing Pressure (Nigeria): NERC reports Discos collected N196.13bn in March from N246.43bn billed, leaving N50.3bn uncollected—an issue for regional power reliability and cashflow. Sahel Re-Engagement: Wadagni’s first foreign trip targets Niger and Burkina Faso to reset ties and coordinate on terrorism, cross-border crime, trade and logistics. Security & Human Cost: Nigeria’s Edo police say they dismantled a kidnapping syndicate and recovered victims after a reported ₦11m ransom. Regional Food Risk: S&P warns Middle East conflict could trigger energy and food shocks hitting import-dependent African economies, with Benin flagged among higher-risk cases.

Electric Mobility Investment: Spiro, an EV and battery-swapping operator active in Benin, Nigeria and six other African markets, secured $215m in equity to expand its swapping network, manufacturing and technology, and push into new countries like DRC and Ethiopia. Energy & Industry Outlook: The EBRD expects sub-Saharan growth to slow in 2026, but forecasts Benin at 7.0% supported by construction and agriculture, after an IMF programme. Power Sector Performance: Nigeria’s Discos collected N196.13bn in March from N246.43bn billed, leaving about N50.3bn uncollected, with collection efficiency slipping to 79.59%. Agri-Processing & Trade: Wilmar and TGI Group agreed a 50:50 JV combining upstream agriculture, processing and branded distribution across Nigeria and Benin. Regional Diplomacy: Benin’s new president Romuald Wadagni made Niger his first foreign stop, seeking to reopen the border and reset Sahel ties amid shared security threats. Security & Education: Protests erupted over the abduction of pupils and teachers in Nigeria’s Oyo State, with teachers also staging actions in Benin. Maritime Economy: Nigeria is said to be losing $15bn yearly to foreign ship chandlers, while Tinubu commissioned new naval vessels to strengthen Gulf of Guinea security.

Energy & Utilities: Nigeria’s Discos collected N196.13bn in March 2026 from N246.43bn billed, with collection efficiency slipping to 79.59% and about N50.3bn still uncollected—billing efficiency also fell despite more energy supplied. Agri-Industry & Food Manufacturing: Wilmar and TGI Group signed a 50:50 joint venture to combine upstream agriculture, oil palm, edible oils, rice, food manufacturing and branded distribution across Nigeria and Benin. Clean Transport Investment: Spiro secured $215m equity to scale electric mobility and battery-swapping, expanding its industrial footprint and network across markets including Benin. Benin-Nigeria Trade & Industry Ties: Benin President Romuald Wadagni met Nigeria’s Tinubu in Abuja to deepen cooperation on trade, industrial projects (including the Glo-Djigbé Industrial Zone), energy and Gulf of Guinea maritime security. Regional Business Diplomacy: South Korea’s foreign minister held talks with counterparts including Benin’s, focusing on investment, industrial cooperation and development. ECOWAS Integration & Insurance: The ECOWAS Brown Card scheme marked its 44th anniversary in Cotonou, urging motorists to demand certificates to activate cross-border motor cover.