Economy
Lokpobiri, Elumelu Say 2.06mbpd Oil Production Target Achievable
By Adedapo Adesanya
Nigeria can achieve the ambitious 2.06 million barrels per day crude oil production target in 2025 based on investment and security in the sector.
This was the view of stakeholders, including the Minister of State for Petroleum, Mr Heineken Lokpobori, the Chairman of Heirs Energies Limited, Mr Tony Elumelu, and others at the Nigeria Petroleum Industry Leadership Discourse in Abuja.
At the forum organised by Heirs Energies Limited, Mr Lokpobori said Nigeria’s target of 2.06 million barrels per day of crude oil production in 2025 is achievable.
“The 2025 budget is indeed predicated on 2.06 million barrels a day, and I want to assure Nigerians that this is doable.
”Nigeria has been doing 1.5 million barrels of production per day,” he said, adding that the industry has been able to make an additional 250,000 barrels incrementally.
“For now, we are operating at about 1.75 million barrels per day,’’ he said.
The minister said for over a decade, there has been no investment in the sector, adding that things are now changing for the better.
“We have changed the perception about Nigeria. So, investments are coming in.
“We want to improve the security situation in the Niger Delta. And I want to use the opportunity to thank our military.
“Nigerian military, the paramilitary, and civilian contractors. The combined effort of these stakeholders have led to less infractions in our pipelines, less thefts, less pipeline vandalisation,’’ he said.
Mr Lokpobori said the federal government has also carried out some reforms in the sector.
“We have taken care of the issue of bureaucracy. Before now, you must know the minister or somebody who knows the minister before your documents are signed.
“Right now, you do not need to know me before your documents are signed.
“Once I get the recommendation from NUPRC, statutorily, no documents stay on my table for more than 24 hours,’’ he said.
Mr Lokpobiri said the government has also addressed the issue of inefficiency by deploying technology.
“Before now, everything was done manually. We could not monitor real-time, what was happening in our terminals. We could not monitor real-time, when payments will be given.
“Technology has also been deployed to ensure that we reduce the corruption that has existed in that sector in the past,’’ he said.
On his part, the Chairman of Heirs Energies Limited, Mr Elumelu, said the oil industry has been able to turn around the season of decline to that of growth.
Mr Elumelu said the country’s increase in crude oil production to 1.7 million barrels per day in January attests to this growth.
He said that with the completion of the major divestments that have just come through, over 50 per cent of Nigeria’s oil production was now operated by indigenous companies.
“For a lot of people, there is trepidation that we can deliver. There is also optimism that we can deliver.
“Heirs Energies has been one of those companies that have stood strongly for growth, as demonstrated by the growth we have achieved in our company by doubling production since inception,’’ he said.
Mr Elumelu said that the leadership discourse was informed by the need to chart a way forward for the company, as well as the country.
“As we embark on our second leadership forum, we bring our entire leadership to discuss the way forward for our company.
“We thought that being a child of the Nigerian petroleum industry, we needed to bring all the parties together to discuss the growth of the industry.”
“In that light, we felt it was important to bring together the industries to start talking about the growth.
“Now that it is us, the indigenous companies that are in control of a larger proportion of the production, we have to power it, we have to own the challenge, and we have to deliver to the Nigerian people,’’ Mr Elumelu added.
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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