Economy
Lagos Assembly Begs NNPC to Relocate Apapa Tank Farms
By Modupe Gbadeyanka
The Nigeria National Petroleum Corporation (NNPC) has been urged to relocate the tank farms in Apapa so as to decongest traffic in the area.
A member of the Assembly representing Apapa Constituency 1, Mrs Mojisola Miranda, lamented that the traffic congestion in the area has made live unbearable for residents, business owners as well as school children.
She noted that urgent steps must be made to restore sanity to Apapa.
Speaking on Thursday during plenary, the lawmaker said the activities of the trailer drivers in Apapa are not only affecting traffic in the area, but that it has extended to other parts of the state.
She urged the Assembly to invite the state’s acting Commissioner for Transport and the Managing Director of the Lagos State Traffic Management Authority (LASTMA) to brief the house on how they would handle the matter.
This was supported by the lawmaker representing Apapa Constituency 2, Mr Olumuyiwa Jimoh.
Mr Jimoh, who said that he had been having sleepless night on the matter, stressed that the residents of the area have been coming to him on the issue and that it should be resolved once and for all.
Speaker of the House, Mr Mudashiru Obasa, emphasized that the House should not wait until the necessary officials were invited to brief them, but that necessary steps should be taken urgently to handle the situation.
“It is better we caution the trailer drivers to stop parking on the roads and bridges in the area. We will definitely call on the officials of LASTMA and Lagos State Safety Commission on the matter.
“We also have to call on the Federal Ministry of Works and Housing to provide alternative roads to motorists, while the roads in Tin Can Island were being repaired,” he said.
Mr Obasa stated that the tank farms should be relocated from the area because, according to him, they were located in the area before the place became a densely populated area.
In his comment, Mr Rotimi Olowo from Shomolu Constituency 1 stated that the activities of the trailer drivers were affecting the economy of the state.
He said that the House had invited the people in charge of the road in the past and that the National Union of Petroleum and Natural Gas Workers (NUPENG) was a powerful union and that the House should meet the trailer drivers on the issue.
Also commenting, Mr Abiodun Tobun from Epe Constituency 1 wondered why the Federal Government that he said is collecting money in the ports was not doing the necessary things about the roads there.
Mr Tobun added that the government could get a location close to Tin Can Island Port to park the trailers and that Lagos State should be allowed to control the ports.
Mr Rasheed Makinde, in his contribution said that some of the trailers come from the eastern and northern parts of the country and that they disobey the laws of the state.
These views were supported by other lawmakers, who urged the House to urgently handle the matter, and the House adjourned sitting to Monday, September 25, 2017.
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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