Economy
Dangote Refinery May Start Petrol Production Next Month
By Adedapo Adesanya
Dangote 650,000-barrel-per-day refinery is undergoing test runs for the production of Premium Motor Spirit (PMS), also known as petrol, with full operations expected by mid-September.
This is according to a note by an industry monitor, IIR Energy.
The $20-billion Dangote refinery, built by Africa’s richest man, Mr Aliko Dangote, on the outskirts of Lagos, began operations in January after years of delays.
However, it has not been able to produce petrol, which is one of the most expected commodities from the project.
Dangote Refinery has so far only produced diesel and other distillate fuels.
The refinery had earlier said that petrol deliveries from the refinery would start in July, but it has not been able to get the necessary feedstock.
Before that the refinery had aimed to start making the motor fuel by May, according to its owner, Mr Aliko Dangote.
IIR also said in the note to clients that it is possible that there could be further extensions
Once fully operational, the refinery is set to change the Europe-to-Africa fuel trade and reduce Nigeria’s reliance on imported refined products.
Also, the federal government’s committee which was set up to ensure the implementation of crude oil sales to local refineries in Naira reached an agreement with the refinery for the rollout of petrol, in September this year.
The Federal Executive Council (FEC) had on July 29 okayed President Tinubu’s proposal for NNPC to halt the sale of crude oil to local refineries in foreign currency and opt for the Naira.
The Council approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as a pilot.
The move is to ensure the stability of the pump price of refined fuel and the dollar-naira exchange rate.
Reports show that Dangote Refinery, at the moment, requires 15 cargoes of crude oil yearly but it has no been able to get enough despite getting cargoes from the US and other sources.
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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