Economy
Fee Regulations Will Consolidate Activities—NMDPRA
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulations Authority (NMDPRA) says its proposed fee regulations will consolidate fees prescribed for midstream and downstream activities into a single document.
Mr Ogbugo Ukoha, Executive Director for Distribution Systems, Storage and Retailing Infrastructure at NMDPRA, made this known at the opening of a stakeholders’ consultation forum on midstream and downstream petroleum fee regulations 2024.
”The consultation forum is being held in furtherance of Section 216 of the Petroleum Industry Act 2021 (PIA) which mandates consultation with stakeholders prior to the finalisation of regulations made under the Act.
”Section 33 (v) of the PIA is to the effect that the Authority may make regulations establishing fees payable to the Authority subject to section 3 (1) (j) of the PIA,” Mr Ukoha said.
He said the process had enabled the authority to review its licence and service fees to reduce the cost entry barrier into the midstream and downstream petroleum industry for prospective operators.
Mr Ukoha said it would encourage investments in the midstream and downstream petroleum industry and lower the operating cost of midstream and downstream petroleum facilities.
“The process will ensure consistency of fees and services across the regulatory space; and promote a competitive market for midstream and downstream petroleum operations.
“These proposed fee regulations are to be read in conjunction with other regulations of the Authority which provide for the technical, commercial and operational regulation of the midstream and downstream petroleum industry.
“The proposed regulations are also in consonance with President Bola Tinubu GCFR’s commitment to easing the cost of doing business in Nigeria,” he added.
Mr Ukoha, while thanking the stakeholders for their submissions and participation, expressed hope for a successful engagement, assuring them of the authority’s cognisance of the feedback to incorporate the same, where applicable, into the proposed fee regulations.
The midstream and downstream stakeholder’s representatives in attendance called for a gas distribution licence and transaction to be paid in Naira denomination to enable ease of doing business within the sector.
Speaking, the General Counsel for Greenville LNG, Mrs Ngozi Efobi, said imposing a petroleum products distribution licence in addition to the taxes, licensing fees and others already being paid could impede business.
Mrs Efobi recommended that the authority should exercise discretion to allow for payment to be made in Naira to enable ease of doing business promote efficient compliance and strengthen the Naira.
“Nigerian laws/regulations should not contain fee prescriptions in foreign currency of another country.
“We are a domestic downstream company selling in Naira, we should also pay in Naira,” she said.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn