Economy
Nigeria Signs Deal to Import Petrol from Niger Republic
By Adedapo Adesanya
The federal government has signed a Memorandum of Understanding (MoU) with the Republic of Niger for the importation of 15,000 barrels per day of refined petroleum products from the landlocked West Africa country’s 20,000 barrels per day refinery.
The deal was reached following a bilateral agreement between President Muhammadu Buhari and President Mahamadou Issoufou of Niger, according to a statement from the Special Adviser on Media to the Minister of State for Petroleum Resources, Mr Garba Deen Muhammad
Mr Muhammad stated that the pact was signed by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, and the Director-General of the Nigerien Petroleum Products Company (Societe Nigerienne De Petrole/SONIDEP), Mr Alio Toune.
He noted that agreement was sealed under the supervision of the two countries’ Ministers of State for Petroleum, Mr Timipre Sylva and Mr Foumakoye Gado, respectively, with the Secretary-General of the African Petroleum Producers Organisation (APPO), Mr Omar Farouk Ibrahim, in attendance.
He said talks had been ongoing between the two countries for over four months – through the NNPC and Niger Republic’s National Oil Company – on petroleum products transportation and storage.
He explained that Niger Republic’s Soraz Refinery in Zinder, some 260 kilometres from the Nigerian border, has an installed refining capacity of 20,000 barrels per day.
According to him, the country’s total domestic requirement is about 5,000 barrels per day thus leaving a huge surplus of about 15,000 barrels per day mostly for export.
Speaking shortly after the MoU signing, Mr Sylva expressed delight over the development, describing it as another huge step in developing trade relations between both countries.
“This is a major step forward. Niger Republic has some excess products which need to be evacuated.
“Nigeria has the market for these products. Therefore, this is going to be a win-win relationship for both countries.
“My hope is that this is going to be the beginning of deepening trade relations between the Niger Republic and Nigeria,” he said.
Also commenting on the development, APPO Secretary-General, Mr Ibrahim, said he could not be happier with what he witnessed in terms of co-operation and collaboration between the two APPO member countries in the area of hydrocarbons.
“I want to commend the Federal Republic of Nigeria and the Republic of Niger and their leadership for this milestone,” he said
Also, Mr Kyari said the two countries have had long engagements in the last four to five months with a view to restoring the importation of petroleum products (excess production) from Niger into Nigeria.
“With this development, we hope to have a long-lasting and sustainable commercial framework to have a pipeline from the Soraz Refinery in Zinder (Niger) into the most proximate Nigerian city so that we can develop a depot.
“We are happy that we have reached that conclusion and our two ministers have endorsed this framework. We are also working on detailed MoU between our two companies so that we can continue the execution process immediately,” he said.
The NNPC chief further noted that being the most experienced of the two oil companies, the NNPC would support SONIDEP in terms of training and capacity building.
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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