Economy
Nigeria Closer to Getting Petroleum Industry Bill
By Adedapo Adesanya
Nigeria will get the long-awaited oil and gas reform bill aimed at boosting output and attracting foreign investment in the coming days, Reuters reported on Tuesday.
The Petroleum Industry Bill (PIB) has been in the works for 20 years and its need has become more urgent this year as low oil prices and a shift towards renewable energy have made the competition tougher to attract investment from oil majors.
According to the report, fiscal uncertainty has delayed a decision on a multi-billion-dollar expansion by Royal Dutch Shell and its partners, while Chevron, Total and ExxonMobil are selling various Nigerian assets.
The bill was supposed to have been presented to the Senate in February, according to Minister of State for Petroleum Resources, Mr Timipre Sylva, but coronavirus disruptions pulled the plug on it.
The revised edition combines 16 different Nigerian petroleum laws into a single-volume document. The first version of the bill was presented to the National Assembly in 2007.
Reuters, according to its source, noted that the bill will be presented in one piece with four chapters.
Senate President, Mr Ahmed Ibrahim Lawan, had expressed confidence on Twitter that the bill would be passed by both chambers of the National Assembly and sent to the president to sign it into law before the end of the year.
“We believe that this time around, the ninth National Assembly will break the jinx and should be able to pass the Petroleum Industry Bill,” he said in February.
The PIB when finally passed into law, will overhaul Nigeria’s petroleum sector with regards to taxation and other affairs.
It also proposes to boost the amount of money companies pay to local communities and for environmental cleanups.
The bill would also alter the dispute resolution process between companies and the government, though specifics of the changes were not included in the summary.
In addition, measures aimed at pushing companies to develop gas discoveries and a framework for gas tariffs and delivery for use in local power generation was also contained in the document.
Responsible for 90 per cent of foreign remunerations, oil has always been Nigeria’s major driver but changes late last year that hiked Nigeria’s take of oil earnings and increases in tax frustrated companies.
An effort to pass reforms by breaking them into several bills in 2018 fell flat; just one portion made it to President Buhari’s desk, and he never signed it.
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