Economy
Cooking Gas Supply Drops 20.5% as Import Efforts Fail in August
By Adedapo Adesanya
Nigeria’s supply of Liquified Petroleum Gas (LPG) also known as cooking gas declined by 20.5 per cent in August 2021 to 85,264.803 Metric Tonnes (MT) compared with the previous month.
This was disclosed by the Petroleum Products Pricing Regulatory Agency (PPPRA) in its LPG report released in Abuja.
The decline came as companies desperately sought suppliers in different countries including the USA, Algeria, Equatorial Guinea to meet the local shortfall.
The data showed that 38,040.457 MT was sourced locally by Ever Oil, Stockgap, NIPCO, 11 plc, Greenville Natural Gas, PNG Gas Ltd, Nigerian Petroleum Development Company (NPDC) Ltd, and Ashtavinayak Hydrocarbon Ltd.
It showed that 47,224.346 MT was imported by NIPCO, Matrix, Algasco, Techno Oil, Prudent, A.A Rano and Stockgap.
The report further revealed that 21,606.301 MT was imported from the USA, 13,044.266 MT imported from Algeria and 12,573.779 MT brought into the country from Equatorial Guinea.
The report noted that “The volume of LPG supplied in August suggests a decrease of about 21,959.781mt compared to 107,224.584 MT supplied in the month of July.
“In addition, 102,787.234 MT was also supplied in the Month of June.”
According to the report, out of the 38,040.457 MT sourced locally, 7,042.058 MT was sourced by Ever Oil, 9,429.761 MT by Stockgap, 7,687.112 MT by NIPCO, 4,761.626 MT by 11 plc and 440.380 MT by GreenvilleRumuji, Rivers State.
It stated that PNG Gas Ltd in Ebedei, Delta State supplied 651.490 MT into the market, while NPDC, Oredo, Edo State provided 1,055.310 MT and Ashtavinayak Hydrocarbon Ltd Kwale, Delta State, discharged 6,972.720 MT.
“Similarly, 11,262.04 MT of propane was sourced locally and supplied into the energy market by NPDC and Ashtavinayak Hydrocarbon,” it said.
The report revealed that since the declaration of the “Decade of Gas” by President Muhammadu Buhari and the Minister of State for Petroleum Resources, Mr Timipre Sylva, the nation had witnessed a significant increase in the volume of LPG produced locally.
This, it said, was due to the commitment of the federal government in promoting gas penetration, to ensure a clean source of energy for cooking, power generation and transportation.
It said that the Petroleum Industry Act (PIA), the first law that recognises the oil and gas midstream sector, would promote and protect gas-based investments and optimise the nation’s enormous gas potential while ensuring that Nigeria transits to become a net-zero emission nation.
The PPPRA reiterated its continued support for the federal government’s policy to deepen LPG penetration in the country and create a healthy life for Nigerians.
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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