Economy
Total Nigeria Expresses Desire Deliver Value to Shareholders
By Dipo Olowookere
Chairman of Total Nigeria Plc, Mr Stanislas Mittelman, says the energy firm intends to take advantage of the projected growth in the Nigerian economy this year to deliver better returns to shareholders.
At the company’s meeting held recently, Mr Mittelman said last year, Total Nigeria recorded many milestones, though the overall performance was adversely affected by the economic recession and its consequent contraction of the downstream market as well as scarcity of Premium Motor Spirit (PMS) due to high landing cost compared to the template.
The Chairman said last year’s performance was also affected by foreign exchange scarcity that hindered importation and high financial costs due to increase in bank lending interest rates.
He pointed out that the company’s lubricants business delivered strong performance in 2017 while the company continued to improve on its credit control management and fixed costs evolution.
Mr Mittelman informed shareholders during the year, Total Nigeria reinforced its leadership in health, safety, environmental protection and quality (HSEQ) by becoming the first petroleum-marketing company to receive the ISO 9001: 2015 and ISO 14001:2015 certifications, adding that the company also recorded no accident during the period.
However, he said Total Nigeria will take advantage of improvement in the nation’s macroeconomic environment to grow its business.
According to him, a stable and conducive business environment in 2018 will provide Total Nigeria with opportunities for growth, investment and consolidation.
“We intend to take advantage of the projected growth the Nigerian economy will offer and deliver value to you our shareholders and other stakeholders,” Mr Mittelman said.
Key extracts of the audited report and accounts of Total Nigeria for the year ended December 31, 2017 showed that turnover dropped marginally from N290.95 billion in 2016 to N288.06 billion in 2017.
Profit before tax dropped by 42 per cent from N20.35 billion in 2016 to N11.8 billion in 2017 while profit after tax declined by 46 per cent from N14.8 billion to N8.02 billion.
Also, earnings per share declined by 46 percent from N43.58 in 2016 to N23.62 in 2017.
However, the company’s shareholders funds improved by 20 per cent from N23.57 billion to N28.23 billion.
At the meeting, shareholders of Total Nigeria Plc approved the payment of N4.75 billion as final cash dividend for the 2017 business year.
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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