Economy
Eni Declares Force Majeure After Oil Spill in Bayelsa
By Adedapo Adesanya
Eni, the parent company of Nigerian Agip Oil Company (NAOC), has declared a force majeure on expected oil output at its Brass terminal in Yenagoa. This means a shortfall of 25,000 barrels of crude oil and 13 million standard cubic metres of gas per day from the terminal.
A force majeure is a legal clause in contracts that absolves firms from legal liabilities due to circumstances beyond their control.
“An incident occurred on the Ogoda/Brass 24 oil line at Okparatubo in Nembe Local Government Area of Bayelsa. The incident was caused by a blast, consequently causing a spill.
“All wells connected to that pipeline were immediately shut whilst river booms and containment barges were mobilised to reduce the impact of the spill.
“Regulators for inspection visit and repair teams have also been activated. The Federal Government, Bayelsa and security authorities were notified,” Eni said in a statement.
The blast, which occurred a couple of days ago resulted from an attack on the facility, Eni stated.
It was the second attack in the last three weeks after a similar incident on February 28 at Eni’s Obama flow station.
The Obama incident led to a production shortfall of 5,000 barrels of crude oil per day.
“Force Majeure has been declared at Brass terminal, Bonny NLNG and Okpai Power Plant,’’ Eni stressed.
The National Oil Spills Detection and Response Agency (NOSDRA) confirmed that Joint Investigative Visits on the two incidents had been conducted.
It said that field officers assigned to the visits had not filed their reports, however.
Equally, the Shell Petroleum Development Company of Nigeria, SPDC – a local subsidiary of Shell Plc, on Monday declared force majeure on Bonny Light crude oil exports on Monday.
These disruptions mean Nigeria will not be able to meet up to expectations for its crude production for March under the agreement with the Organisation of the Petroleum Exporting Countries and allies known collectively as OPEC+.
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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