Economy
NAICOM To Raise Insurers’ Capacity to Serve Oil and Gas Firms
By Adedapo Adesanya
The National Insurance Commission (NAICOM) has expressed its commitment to creating an enabling environment for insurers in the oil and gas industry.
This is as it promises to increase their financial capacity to be able to underwrite big risks in line with the Guidelines for Oil and Gas Insurance Business issued in 2010.
This was made known by the Commissioner for Insurance, Mr Sunday Thomas, at the Oriental News Summit, themed, Building Local Content Synergy Between the Oil and Gas and the Insurance Sector in Nigeria, held in Lagos recently.
The insurance regulator called on oil and gas institutions in the country to ensure timely compliance with the requirements of the guidelines jointly issued by NAICOM and the Nigerian Content Development and Monitoring Board (NCDMB) under the requirements of Sections 49 and 50 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.
The Commissioner stressed the need to adopt relevant laws and requirements to grow the sector.
The NAICOM boss also listed actions taken and initiatives adopted by the Commission for a successful implementation of the NOGICD Act.
According to him, before the NOGICD ACT, the Insurance Act 2003 made far-reaching provisions for the domestication of insurance services in Nigeria.
“In particular, Section 65(7) makes it compulsory for any property located in Nigeria, whether moveable or immovable, to be insured with a Nigerian registered insurer. Section 67 requires that insurance of all imports into Nigeria must be insured by insurers registered in Nigeria.
“The historical relationship between both Industries could be traced to the birth of the latter. Following the issuance of the NOGICD ACT, the insurance industry, in collaboration with the board, brainstormed, leading to the issuance of The Guidelines for Oil and Gas Insurance Business issued in 2010, which amongst others, stipulates the roles and responsibilities of insurance firms in ensuring compliance with local content law, with the primary consideration of ensuring actual exhaustion of available in-country insurance capacity,” the NAICOM boss explained.
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.
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.”
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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