Economy
GE Oil & Gas Expands to Back Customer Operations
By Dipo Olowookere
GE Oil & Gas has opened a new facility in Takoradi Port, Ghana, expanding its global footprint and supporting local investment.
The company committed to deliver more than 45,000 training hours for Ghanaian personnel over the next five years, as it seeks to build a world-class team locally.
The facility, which will be the primary service center for deep-water offshore projects in Ghana, has a 1,600 square meters indoor test area with capability for testing three subsea trees (XTs) simultaneously, and 4,000 square meters of indoor and outdoor storage.
This new infrastructure is already playing a critical role in supporting the installation for Eni’s Offshore Cape Three Points (OCTP) project – for which GE Oil & Gas is supplying subsea and turbo machinery equipment-and will support the local community by helping to provide direct employment opportunities. It will also provide welcome support for the local supply chain, and for small and medium-sized enterprises.
Lorenzo Simonelli, president & CEO of GE Oil & Gas, attended the opening ceremony today with customers, suppliers and local Government representatives. “The opening of the GE Takoradi facility demonstrates our commitment to developing local partnerships and capacity building to deliver effective and efficient solutions for our customers,” said Simonelli. “Localization supports growth in the communities in which we work, while increasing our productivity. As a global company, GE is uniquely-placed to have a well-rounded economic impact on the regions where we operate. We are committed to partnering with Ghana to help support building critical skills and developing infrastructure for the country’s future growth.”
Along with committing to delivering a comprehensive training program for the local workforce, GE Oil & Gas has recruited more than 30 Ghanaian staff to work at the new facility, including two fully-trained field service engineers who are now working offshore to support the installation phase for the OCTP project.
GE Oil & Gas partnered with Ghana National Petroleum Corporation (GNPC) and Ashesi University College in a two-phased approach to local capacity building, including education and skills development, and a small to medium enterprise (SME) development program. The partnership is helping to develop the next and future generations of the oil and gas workforce, providing them with practical learning opportunities and access to technical expertise, locally.
Ado Oseragbaje, president and CEO Sub-Saharan Africa, GE Oil & Gas, said: “Ghana has decades of development potential and we are excited to provide support to a project that will act as an important energy source for the country for many years with minimal environmental impact, while also driving the development of local infrastructure and capacity-building. We have the strength and scope to be able to stay close to our customers, work where they work, and invest in the training and facilities required to reduce complexity, provide faster turnaround of equipment deliveries, support our partners and build a solid talent pipeline in-country.”
The U.S. Ambassador to Ghana, Ambassador Robert Jackson, was present at the inauguration and commended GE for making such a sizable investment and setting a great example for American companies in the region. “GE is known for its leadership in technology and innovation,” said Ambassador Jackson. “Here in Ghana, GE has partnered with our USAID-funded Supply Chain Development project to build the capacity of local Small and Medium businesses. That’s not only a commitment to Ghana, it’s a commitment to transitioning from donor funding toward private sector-led growth.”
GE was awarded an $850 million order for the supply of equipment to the OCTP block in 2015. This order incorporates both GE Oil & Gas turbomachinery and subsea elements and GE Power Conversion electric motors, an example of the ‘GE Store’ at work – drawing technologies and expertise from across the company.
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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