Economy
NNPC’s PPMC Revenue Jumps 4,862% to N1.38trn in 2021
By Adedapo Adesanya
Pipeline and Products Marketing Company (PPMC), one of the downstream subsidiaries of the Nigerian National Petroleum Company (NNPC) Limited, recorded total revenue of N1.380 trillion in 2021, rising by 4,862.6 per cent compared with N27.808 billion in 2020.
The PPMC, in its latest audited financial statement for 2021, stated that Premium Motor Spirit (PMS), also known as petrol, and other white petroleum products in 2021 stood at N1.355 trillion.
This accounted for 99.85 per cent of total revenue from the sale of white products, also accounting for 98.19 per cent of its total revenue.
In addition to the sale of PMS, the PPMC said it earned N1.641 billion from the sale of Automotive Gas Oil (AGO) and N323.536 million from the sale of Liquefied Petroleum Gas (LPG), also known as cooking gas.
The PPMC further stated that it earned N996.595 billion from trading with coastal marketers in the 2021 fiscal year, while trading with major oil marketers and independent oil marketers fetched the PPMC revenue of N224.559 billion and N135.382 billion, respectively.
The PPMC also earned N21.108 billion as a commission on the sale of petroleum products, while the commission from the collection of the Petroleum Equalization Fund bridging allowance stood at N2.768 billion.
It added that: “On 30 June 2021, the Company ceased to supply and market petroleum products to marketers/retailers on behalf of its parent company, NNPC. On 1 July 2021, the company began to supply and market these products directly to marketers.
“The company ceased to sell Liquified Petroleum Gas during the year as the Ex-LPG Sales Agreement with Nigeria Liquefied Natural Gas (NLNG) Limited was novated to the related party, NNPC Retail Limited.”
However, the PPMC cost of sale stood at N1.332 trillion in 2021, compared with N5.639 billion recorded in 2020.
Giving a breakdown of the cost of sale component in 2021, the PPMC stated that security services gulped N3.298 billion, compared with N1.865 billion in 2020; Personnel expenses grew to N4.988 billion, from N2.577 billion in 2020; while payment for finished refined white products stood at N1.299 trillion.
In addition, the PPMC said it spent N11.393 billion on water transport hire; N270.831 million on the purchase of LPG; N1.118 billion on transportation of petroleum products; N7.481 billion on throughput charges, and N4.13 billion on tariff charges.
Also, the downstream firm said decanting transport expenses stood at N12.417 million; write-off of inventory stood at N91.749 million, while other selling expenses dropped to N28.963 million from N53.801 million recorded in 2020.
Economy
SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
Economy
Fidson Lists Additional 600 million Shares on Stock Exchange
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
Economy
FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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