Economy
Northern IPMAN Threatens Strike Over PEF Conflict
By Adedapo Adesanya
The Independent Petroleum Marketers (IPMAN) in the Northern part of Nigeria may shut down its operations following an unfavourable business environment occasioned by the failure of the Petroleum Equalization Fund (PEF) to implement its responsibilities as provided by law.
The petroleum marketers, who met in Kano at the weekend, consisted of all the leading players in the industry such as the proprietors of AA Rano Oil, Aliko Oil, Shafa Oil, Maikifi Oil, AMANSCO as well as the depot managers of Jos, Gombe, Kaduna, Gusau, Kano, Yobe, Maiduguri among other several other embittered stakeholders.
In a communique issued on Sunday, April 18 and signed by Auwalu Rimi and Audu Manager for the Northern IPMAN Stakeholders Forum, the petroleum marketers in the region insisted on the immediate payment of all their outstanding claims by PEF running into several hundreds of millions of Naira.
In addition, the body demanded that, “An overhaul of Aquilla II processes to ensure that payment of claims no longer exceeds 48 hours as it was originally designed.”
The independent oil marketers stakeholders forum also sought strict compliance with the enabling law of PEF Management Board Act No. 9 of 1975.
As a matter of urgency, they sought, “immediate implementation of the planned 26 per cent increase in the Freight Rate as agreed to mitigate rising truck maintenance costs and payment of the accumulated arrears”.
The oil marketers warned that the failure of the relevant authorities to take drastic steps to address the issues would leave them with no other option but to withdraw their services nationwide.
In the same communique, they had lamented the current situation in which the operation of PEF had led to untold hardship for their members and created a huge crisis in the business of petroleum marketing in the land- locked-Northwest and Northeast regions.
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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