Economy
Nigeria Should Computerize Crude Oil Production—Senate
By Adedapo Adesanya
The Senate has called for the need to install computerized oil facilities management gadgets for crude oil businesses in Nigeria, noting that this would enhance productivity.
This call was made while deliberating on the motion raised by Senator George Sekibo (PDP, Rivers East) at the plenary session on Thursday, November 28, 2019 in the nation’s capital, Abuja.
Senator Betty Apiafi (PDP, Rivers West), who seconded the motion, argued that, “Some communities in Niger Delta still complain of military damage of barges which in turn damage the environment. Software maintenance should be deployed in managing petroleum products.”
“This will enhance productivity in the production process. We should use internationally accepted standards to manage and monitor petroleum activities,” she opined.
Senator Francis Ezenwa (PDP, Imo East) also noted that with the computerized system, the country would be able to block all loopholes that lead to heavy taxation on citizens.
“We are going to save our citizens from excessive taxation because the essence of taxation is to get revenues to build infrastructure. Whatever we invest in this area I think it is worth it. I think this motion is important and critical and I urge my colleagues to support it,” he noted.
The members of the red chamber urged President Muhammadu Buhari to set up a consortium of such experts to evaluate the possibilities of installing computerized oil facilities management gadgets to curb the excesses of the multifaceted problems associated with the oil and gas production, transportation and sales business in the country.
The Senate then resolved to mandate the Committees on Petroleum Upstream, Downstream and Gas Resources to hold a public hearing with stakeholders to ascertain the quantity of oil and gas produced daily to this effect and also the quantity control mechanism as currently engaged by NNPC.
It was also reached that there would also been the need to determine the amount of waste of petroleum products through pilfering, pipelines vandalization, leakages, and from any other forms while considering the international best practice of computerized oil and gas business management, including pipeline protection and quantity and quality control.
It also resolved to look at other advice that could improve the oil and gas business in the country, asking President Buhari to appoint pre-shipment inspectors as prescribed by law under the pre-shipment inspection Act of 1999.
Senate President, Mr Ahmad Lawan, who presided over the session yesterday, announced that the lead Committee for the public hearing would be the Petroleum Downstream.
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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