Economy
Nigeria Partners Israeli Firm for Methanol Production
By Adedapo Adesanya
As part of its incentive to boost local methanol production, Nigeria has signed a Memorandum of Understanding (MoU) with an Israeli firm, DOR Group, on methanol production technology.
The Minister of Science and Technology, Mr Ogbonnaya Onu and Mr Vincent Asor, Chief Operating Officer, DOR Group of Israel signed the MOU on Wednesday in Abuja, as a decisive step toward implementing the methanol production technology.
According to Mr Mohammed Abdullahi, Minister of State for Science and Technology, the federal government was determined to execute the terms of the agreement.
Mr Abdullahi, in a statement, said the signing of the MoU would change the fortunes of Nigeria significantly.
According to him, the methanol technology shall expand the chemical industry value-chain, replacing kerosene as household cooking fuel, and contribute to efficient and effective transportation.
He added that other advantages of methanol production technology were to mitigate climate change and improve electricity generation.
Mr Abdullahi further said the policy would create an enabling environment for more investment in the oil and gas sector and bring about an end to gas flaring in Nigeria.
In his remarks, Mr Asor gave the assurance that DOR Group of companies will do its best to fulfil its own side of the agreement.
He also said that quality and efficient engineering for which Israeli firms were known for would be brought to bear in the implementation of the agreement.
In 2019, the Federal Executive Council (FEC) unveiled a new policy that will see the use of methanol as an alternative fuel in Nigeria.
Methanol is a much more cleaner energy source and will be produced from the abundant gas resources, currently being flared by oil companies.
Mr Onu noted that the country has a lot to gain from its production, saying “You can use methanol for transportation, all these racing cars that you find – they out M85, M100 essentially that M in methanol means it’s 85 per cent methanol, 15 per cent gasoline.
“But for ordinary use, normally the blending will be 15 per cent of methanol so that you don’t have to make any adjustment to your vehicle.”
He disclosed further that “methanol can be used to replace diesel in trucks that we find on our highways because methanol is cheaper and it is environmentally friendly so that all the problems that are associated with the use of diesel, can be solved by the use of methanol”.
The Minister also stated that it will help provide cleaner fuel for Nigeria’s teeming rural populace.
“Our people in rural areas can use methanol for cooking so that it can replace kerosene because when you use kerosene you have soothes and it creates health problem for you but methanol does not have that, it’s very clean, safe and cheap,” he said.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn