Economy
NCDMB Constructs 2,000bpd Modular Refinery in Bayelsa
By Adedapo Adesanya
The Nigerian Content Development and Monitoring Board (NCDMB) has announced the construction of a 2,000 barrels per day modular refinery, in Brass, Bayelsa State.
The modular refinery, according to NCDMB, is being developed by Atlantic International Refinery and Petrochemical Limited, in partnership with the board.
Speaking on this, the Manager, Corporate Communications, NCDMB, Mr Naboth Onyesoh, said the project includes a power plant and logistics jetty to provide support for oil and gas operations.
Mr Onyesoh disclosed that the modular refinery would be the fourth supported by NCDMB under the federal government’s plan to use modular refineries to drive the development of the Niger Delta region.
He said NCDMB had injected equity capital funds in three modular refineries with the Waltersmith 5,000 barrels per day modular refinery in Ibigwe, Imo State already in operation.
Others are the 12,000 barrels per day Hydroskimming modular refinery being constructed by Azikel Petroleum Limited in Gbarain, Bayelsa and the 2,500 barrels per day modular refinery being developed by Duport Midstream Company in Egbokor, Edo.
According to Mr Onyesoh, the Minister of State for Petroleum Resources, Mr Timipre Sylva, performed the groundbreaking ceremony of an Energy Infrastructure Park, last Saturday in Okpoama, Brass Local Government Area of Bayelsa State.
He quoted Mr Sylva as saying at the event that one of the best strategies to curb restiveness in the Niger Delta region is to create jobs and opportunities for youths.
The minister also said that part of his mandate is to collaborate with players in the private sector to establish oil and gas facilities, including modular refineries.
According to the minister, this would ensure value addition to crude oil, growing domestic refining capacity to improve products availability, create jobs in-country and curb pipeline vandalism.
He then urged the people of Okpoama Kingdom and other parts of the Niger Delta to create an investment-friendly environment that would attract other oil, gas and manufacturing facilities to the region.
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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