Economy
Dangote Refinery To Produce First Batch of Products in August
By Adedapo Adesanya
Mr Aliko Dangote has disclosed that the first batch of products of the Dangote Petroleum Refinery and Petrochemicals should be expected latest August as the country moves toward self-sufficiency in refined fuels.
Speaking on Monday, the billionaire said the first product from the mega-complex structure “will be in the market before the end of July, beginning of August this year”.
The President of Dangote Industries Limited stated this while giving the welcome address at the inauguration of the 650,000 barrels per day refinery in Lagos State today.
“Beyond today’s ceremony, our first goal is to ramp up production of the various products to ensure that within this year, we’re able to fully satisfy our nation’s demand for higher quality products,” he said.
“Beyond this, we intend to ensure that our plants are run at the highest capacity of utilisation and the highest efficiency to enable us to export competitively to other markets, especially in the ECOWAS and wider regions in which 53 countries out of 55 are dependent on imports to meet their petroleum products demand,” he added.
He also posited that the refinery would enable Nigeria to eliminate “the tragedy of import dependency” as well as halt toxic, substandard petroleum products from being dumped in Nigeria.
Currently the world’s largest single-train refinery and located in Ibeju-Lekki, Lagos, the facility has been touted to meet the needs of Nigerian consumers and those in neighbouring countries while allowing for exports beyond the African continent.
The refinery will also drive the promotion of the African Continental Free Trade Area (AfCFTA), as over 50 countries in the trade bloc depend on imported refined petroleum products.
Speaking about the magnificent plant, the CEO of Dangote Petroleum Refinery and Petrochemicals, Mr Sanjay Gupta, stated that “everything in this plant by way of size is the first. It is the largest single-train refinery in the world.
“There is no single column which can process 650,000 barrels per day anywhere else,” he bragged.
It has the capacity to meet 100 per cent of the Nigerian requirement of all refined products (gasoline, 53 million litres per day; diesel, 34 million litres per day; kerosene, 10 million litres per day, and aviation jet, 2 million litres per day) and also have a surplus of each of these products for export.
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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