Economy
Fuel Scarcity: NNPC to Monitor Operations of Mega Petrol Stations
By Modupe Gbadeyanka
The Nigerian National Petroleum Corporation (NNPC) has disclosed that it would pay close watch on operations of its downstream retail subsidiary, NNPC Retail Limited, to optimize operational efficiency in the delivery of petroleum and allied products to customers across the country.
The state-owned oil firm said in a statement issued yesterday by its spokesman, Mr Ndu Ughamadu, that it was already activating fresh measures to achieve this goal.
“The target is to ensure that lessons garnered from the recent fuel availability challenge are imputed into the fuel supply and distribution matrix for greater efficiency and closer scrutiny of the operations of all our retail outlets to enforce stricter compliance with the rules of engagement for the good of consumers,” the corporation said in the press statement.
Last November, consumers of Premium Motor Spirit (PMS) commonly called petrol, suffered acute shortage of the product, forcing them to have horrible Christmas and New Year celebrations.
The fuel scarcity extended till late February before the commodity became surplus again across the country.
But the NNPC said to avoid this in the future, it the measures it was putting in place would entail closer scrutiny and supervision of the operations of NNPC mega and affiliate retail outlets strategically clustered in major cities and towns throughout the country.
The NNPC also disclosed that it had amicably ended its lease agreement with the owners of the Super Mega Petrol station along the Abuja Airport Road.
NNPC said with the cessation of the agreement which took effect from Sunday, April 15, 2018, NNPC Retail and the owners of the station are concluding the hand over process in line with the terms of the amicable pact.
While acknowledging the contribution of the station in providing products to teeming customers along the Airport Road during the trying period, the corporation assured motorists along the axis that seven other affiliate stations had been sufficiently mobilized to provide for their products consumption needs.
The oil agency also added that its retail subsidiary is working assiduously to expand its footprints in Abuja and adjoining towns as recently directed by the Group Managing Director, Mr Maikanti Baru.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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