Economy
Kachikwu, 8 Other Oil Ministers to Attend Africa Oil Week
By Dipo Olowookere
Nine Energy and Petroleum Ministers, including Nigeria’s Minister of State for Petroleum, Mr Ibe Kachikwu, have confirmed to attend Africa Oil Week 2018 taking place in Cape Town, South Africa on November 5—9, 2018.
With 88 upcoming oil and gas fields to receive more than $180 billion by 2025, having such strong government representation of nine Ministers attending to deliver bidding rounds and investment opportunities reinforces the unique value of Africa Oil Week as the annual transaction platform for Africa.
Over the course of the week, leading nations will take meetings and present proprietary information regarding up-and-coming projects exclusively at Africa Oil Week.
From shallow water licencing in Congo Brazzaville, to billion-dollar tenders in critical infrastructure, there is a growing anticipation from the global petroleum companies that Africa Oil Week 2018 is the most compelling opportunity to originate and win licences, farm down partnerships and finance within the African Oil and Gas sector.
With over 26 percent of the investment being given to Nigeria, it is noteworthy that Mr Kachikwu is attending Africa Oil Week to showcase and promote the most significant transformation projects in Nigeria.
“Attracting inward investment for upstream activities and field development is critical if Africa is to realise its full energy potential,” added Paul Sinclair, Conference Director for Africa Oil Week. It is in this context that Africa Oil Week will deliver a transactional based event that will see multi-billion-dollar deals agreed to which will advance national objectives across the continent.
Apart from Mr Kachikwu, other African Ministers expected at the conference are Mr Jeff Radebe, Minister of Energy, Republic of South Africa; Boakye Agyarko, Minister of Energy, Republic of Ghana; Jean-Marc Thystère Tchicaya, Minister of Hydrocarbons, Republic of the Congo; Pr Tiémoko Sangaré, Minister of Mines & Petroleum, Republic of Mali; Foumakoye Gado, Minister of Petroleum, Republic of Niger; Irene Nafuna Muloni, Minister of Energy and Mineral Development, Republic of Uganda; Fafa Sanyang, Minister of Petroleum and Energy, Republic of The Gambia; and Thierry Tanoh, Minister of Energy, Ivory Coast.
“We are truly honoured by the attendance of so many Government Ministers. In my view, this demonstrates that Africa Oil Week is the premier meeting point for the African Oil and Gas sector. It not only gathers the most senior community of Ministers and National Oil Companies, it remains the only true world class deal making event for the global private sector.
“The importance that global partnerships are now playing in developing Africa’s energy resources only underlines the need for Africa Oil Week.
“With 54 highly competitive countries looking to develop their vast resources we are delighted to be hosting 17 National Oil Companies who will also be undertaking their role to promote their petroleum sector within road shows and bidding rounds.
“The role of Africa Oil Week as a catalyst for deal making sets itself apart from talk shops, we are expecting unprecedented levels of investment and finance to be deployed into the African upstream as a result of the 2018 Africa Oil Week,” said Paul Sinclair, Conference Director, Africa Oil Week.
The event provides a platform for African nations and those operators to present deals, farm in opportunities, data rooms and basin insights in some of the most compelling basins across the continent. Attendees value the opportunity to get face time with Ministers, CEOs, Banks and operators at what is still regarded as the must attend event for the Africa hydrocarbon sector.
Economy
SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs
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.
Economy
Fidson Lists Additional 600 million Shares on Stock Exchange
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.”
Economy
FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure
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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