Economy
Nigeria, 4 Others Ban ‘Dirty’ Fuels From Europe
By Dipo Olowookere
Five West African countries, including Nigeria, have decided to ban ‘dirty’ fuels from Europe, which are believed to contain higher sulphur levels.
This comes in response to concerns over vehicle emissions and in an effort to bring safer, cleaner air to more than 250 million people in the region, the United Nations Environment Programme (UNEP) said.
According to UNEP, last week, Nigeria, Benin, Togo, Ghana, and Côte d’Ivoire introduced strict standards that will ensure cleaner, low sulphur diesel fuels, and better emissions standards, thus effectively cutting off Europe’s West African market.
Earlier this year, a report by the non-governmental organization Public Eye exposed how European trading companies are exploiting weak regulatory standards in West African countries, thus allowing fuels with sulphur levels that are up to 300 times higher than those permitted in Europe.
“West Africa is sending a strong message that it is no longer accepting dirty fuels from Europe,” said Mr Erik Solheim, head of UNEP. “Their decision to set strict new standards for cleaner, safer fuels and advanced vehicle emissions standards shows they are placing the health of their people first.”
He hailed the move as an example for other countries, noting that air pollution kills millions annually.
“We need to ensure that all countries urgently introduce cleaner fuels and vehicles to help reduce the shocking statistics,” stated Mr Solheim.
In addition to new fuel standards, the group of West African countries has agreed to upgrade their own public and private refineries to meet the same higher standards by 2020.
UN Environment has been working with countries in West Africa to develop policies and standards that will stop the import of fuels with dangerously high levels of sulphur, as well as to introduce cleaner fuels and vehicles. Reducing such emissions around the world is essential to ensure levels of urban air pollution and climate emissions come down.
Combining low-sulphur fuels with advanced vehicle standards can lead to as much as a 90 per cent reduction in harmful emissions.
According to Nigeria’s Environment Minister, Mrs Amina Mohamed, “for 20 years, Nigeria has not been able to address the vehicle pollution crisis due to the poor fuels we have been importing. Today we are taking a huge leap forward: limiting sulphur in fuels from 3,000 parts per million to 50 parts per million. This will result in major air quality benefits in our cities and will allow us to set modern vehicle standards.”
Mrs Mohamed will meet with Lilianne Ploumen, Dutch Minister of Foreign Trade and Development Cooperation, in Hague, in order to take stock of the progress being made to improve the quality of fuels that have been exported from Dutch ports to countries in West Africa, as The Netherlands produces many of the exported dirty fuels.
“The recent report from the NGO Public Eye made abundantly clear that coordinated action is needed to stop the practice of exporting dirty fuels to West Africa. I am very pleased West African governments quickly decided to introduce standards that will help accessing European standard quality fuels. Their people deserve cleaner air, better health, and a cleaner environment. I commend UN Environment for their excellent work,” announced Minister Ploumen.
UNEP hosts the Secretariat of the Partnership for Clean Fuels and Vehicles (PCFV), a global public-private partnership that supports a shift to cleaner fuels and vehicles worldwide. When PCFV began its work in 2005, not a single low or middle income country used low sulphur fuels. Today, 23 countries have made that shift. Another 40 are on their way to doing the same.
In addition, UNEP is hosting the Climate and Clean Air Coalition, which recently adopted a global strategy for moving the world to clean, low-sulphur fuels and advanced emissions standards. Experts estimate that this measure will save an annual 100,000 premature deaths by 2030.
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