Economy
Attacks on Oil Assets Led to $2.75bn Loss in 2019 – P-PESPI
By Adedapo Adesanya
The activities of oil pipeline vandals and oil theft cost Nigeria a loss of $2.75 billion in 2019, Partner for Petroleum & Energy Sector Prosperity Initiative (P-PESPI) has claimed.
This was explained by the group’s Chairman, Mr Charles Ibiang, who noted in a statement on Sunday that criminal damage on the nation’s oil asset was affecting the nation’s revenue inflow.
According to him, industry information from NEITI, NNPC, NEC Adhoc Committee on Prevention/Control of Crude Theft and other sources revealed that Nigeria in 2019 recorded a loss of 22.64 million barrels of crude oil valued at $1.35 billion for the half-year and $2.7 billion for the full year at a global oil price of $60 per barrel.
Speaking on some of the country’s assets that faced this incessant damage, the group’s chief expressed concerns about consistent attacks on the AITEO E&P Nembe Creek Truck Line Pipelines (NCTL).
“The P-PESPI has observed with concern and condemns in strong term the persistent and deliberate sabotage of the AITEO E&P Nembe Creek Truck Line Pipelines and other critical national petroleum pipelines assets by criminals.
“These illegal activities around these critical national petroleum assets has caused a lot of disruptions in revenue inflow to government affected the environment of the host communities and Aiteo/Oil Companies commercial interests,” Mr Ibiang said.
He further gave a breakdown that Nembe Creek Trunk Line (NCTL) lost 9.2 million barrels throughout the year while others include: Trans Niger Pipeline (TNP) – 8.6 million barrels; Trans Forcados Pipeline (TFP) – 3.96 million barrels, and Trans Escravos Pipeline (TEP) – 877 thousand barrels.
P-PESPI then appealed to President Muhammadu Buhari to declare a security red alert over NCTL in particularly so as to stop the persistent and deliberate interference of these critical assets.
“Mr President Sir, the constant attack and disruptions of the NCTL is worrisome and seriously affecting the Environment of the host Communities along the Trunk of the Niger Delta, a Region your Govt is devoting so much attention and spending huge resources to clean up,” he said.
He noted that the disruptions on NCTL has seriously affected Crude Production, transportation from Eroton, NewCross, Belema Oil and SHELL Fields, pointing out that the illegal activities had a negative implication on the country’s revenue projection as well as posing and backing security challenges such as insecurity and terrorism
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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