Economy
DPR Remits N673bn to Federation Account
By Modupe Gbadeyanka
Not less than N673.7 billion has been remitted to the coffers of the federal government by the Department of Petroleum Resources (DPR) in the first six months of this year.
The Director of DPR, Mr Sarki Auwalu, said the petroleum agency was committed to meeting its target for 2020, especially at a time the nation was struggling to survive because of the COVID-19 pandemic.
Speaking during a visit of the Federation Allocation Accounts Committee (FAAC) post-mortem sub-committee to the agency, he said efforts have been made to block all loopholes.
According to him, the DPR operates a cashless revenue system, which enables all revenue remittances to be paid directly to the federation account in compliance with the Treasury Single Account (TSA) policy.
He said the agency also conducts comprehensive quarterly and annual reconciliations of revenue payments to ensure accurate and timely remittances to the central government.
Recently, DPR incurred the wrath of the Senate when it was alleged that of the N2.4 trillion generated in 2019, the agency only remitted N44.5 billion into the Consolidated Revenue Fund (CRF), while N88 billion was removed as 4 per cent collection fee out of which N5.72 billion was also remitted, while the balance was used for overhead.
The DPR is a revenue-collection agency for revenues accruable to government from oil and gas industry operations, including oil and gas royalties which represent proportional value of oil and gas production and sales from oilfields.
The agency also generates revenue from the collection of gas flare penalties imposed for gas flaring, concession rentals paid for the grant of oil and gas acreages by exploration as well as production companies and miscellaneous oil revenue, which consists of statutory application fees, licence and permit fees and penalties.
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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