Economy
Eterna Gets Approval to Distribute Dangote Refinery Products
By Dipo Olowookere
One of the leading integrated energy providers in Nigeria, Eterna Plc, has been appointed as one of the distributors of Dangote Petroleum Refinery in Lagos.
Recall that last Friday, Dangote Refinery, owned by Mr Aliko Dangote, officially commenced operations after the facility was commissioned in May 2023 by former President Muhammadu Buhari.
A few days ago, it was reported that seven organisations would distribute products of the $20 billion refinery, which can refine 650,000 barrels of crude oil per day.
On Wednesday, Eterna, in a notice filed with the Nigerian Exchange (NGX) Limited, confirmed that it has been appointed as “an official domestic sales distributor of Dangote Petroleum Refinery products in Nigeria.”
The energy firm, which described this as a “major milestone in the energy industry,” noted that it is a testament to its long-standing reputation for excellence and commitment to customer satisfaction.
Eterna, which manufactures, markets, and distributes lubricants and chemicals and operates a network of filling stations, further said its appointment as one of the major distributors of Dangote Refinery domestic products in the country reinforces its “commitment to improving product supply with the assurance of significant investment in trucking both through truck acquisition and strategic partnership with third-party transportation.”
“We are proud to be appointed as an official distributor of Dangote Refinery domestic sales in Nigeria.
“This partnership with Dangote Refinery is a demonstration of our commitment to providing Nigerians with world-class energy solutions that meet their needs and expectations.
“We are happy that we are keeping to our promise to stakeholders that the company will remain competitive even in the face of fuel subsidy removal,” the chief executive of Eterna, Mr Benjamin Nwaezeigwe, commented.
The organisation said in the statement signed by its Legal Adviser, Mandella Golkus, that it plans to further increase its retail network across the country and actively play across the energy value chain, covering the production, transportation, and distribution of energy solutions vital for economic growth and development.
The company said it hopes to be the first choice for its customers as it seeks to dominate the African energy sector by strategically expanding operations and growing market share.
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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