Economy
128 Firms Bid for Nigeria’s Crude Import Scheme
By Dipo Olowookere
Not less than 128 indigenous and international oil and gas companies have indicated interest to participate in the Nigerian National Petroleum Corporation’s (NNPC) Direct Sale of Crude Oil and Direct Purchase of Products (DSDP) programme.
The DSDP arrangement is a model introduced last year and is carried out through direct sales of crude oil to refiners or consultants, who in turn supply NNPC with equivalent worth of products.
The batch over which the bids were opened is scheduled to last for the next one year, starting from April 1, 2017.
Addressing the interested bidders and other stakeholders at the NNPC Towers in Abuja, the Group Managing Director of the Corporation, Dr Maikanti Baru, said the DSDP had saved over $500 million, particularly through reduction in the amount paid on demurrage by the Corporation.
Dr Baru described the DSDP as a major component of the NNPC’s petroleum products supply portfolio, stressing that since inception, it has greatly helped in the stabilization of product supply to the nation.
He said, “The DSDP programme has ensured that the supply from the refineries is fully augmented to meet national supply and sustained over 30 days sufficiency of Premium Motor Spirit, PMS, otherwise known as petrol.”
Touting the transparency of the programme, Dr. Baru said the DSDP arrangement was a major instrument of partnership between NNPC and product suppliers, both local and international, adding that over the last one year, significant lessons have been learnt which have been incorporated into the tender process in order to improve quality assurance.
“One of the cardinal principles of NNPC under my leadership is the entrenchment of measures that will ensure transparency, accountability, performance and profitability in line with our FACTI principle of a Focused, Accountable, Competitive, Transparent Organization conducting its business with Integrity as enshrined in our 12 Business Focus Areas (BUFA)”, the GMD stated.
According to him, the DSDP programme was a major instrument for the attainment of this cardinal objective which he declared would be guided by the overriding public interest and in compliance with extant laws and regulations.
Earlier, the Group General Manager, Crude Oil Marketing Division, Mallam Mele Kyari said the tender process was to optimize revenue for the Federal Government in compliance with the anti-corruption drive of the Government, adding that yardsticks for successful bidders would include: possession of financial strength, cognate experience in crude oil business as well as competence to deliver on mandate.
Meanwhile, the Chief Operating Officer, Corporate Services, Mr Isa Inuwa has said the NNPC has set a trend of complying with the public procurement law of due process in the selection of bidders to execute any of its projects.
He stated this during the Invitation to Tender for prequalification of contractors for procurement, installation and commissioning of 4×4.687MVA and 1x635KVA dual engine generators at the NNPC towers.
Mr Inuwa said the Corporation was in search of the best supplier, installer and the best price on the basis of a transparent selection process, assuring bidders that they would all receive equal consideration based on the NNPC criteria and entries made.
General Manager, Supply Chain Management, Mrs Sophia Ndukwe, said 29 bids were submitted for the supply and installation of generators at the NNPC towers.
Representatives of the Nigerian Extractive Industries Transparency Initiative (NEITI), Bureau of Public Procurement (BPP) and the Nigerian Content Development and Monitoring Board (NCDMB) were on hand to ensure strict compliance to the bidding process.
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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