Economy
Nigeria Eyes 10% Global LNG Sales
By Modupe Gbadeyanka
Nigeria is set to capture at least 10 percent of the global market share of Liquefied Natural Gas (LNG) as part of the concerted efforts to harness the nation’s gas resources which currently stand at 192 Trillion Cubic Feet, tcf, of proven reserve.
Group Managing Director of NNPC, Dr Maikanti Baru, who stated this while delivering a keynote address at the 2017 Society of Petroleum Engineers, SPE, Oloibiri Lecture Series and Energy Forum, said the projection was in line with the gas component of the NNPC 12 Business Focus Areas termed the 12BUFAs initiative which seeks to increase domestic gas supply to 5bscfd by 2020.
Providing details of the plan, the GMD said the initiative was anchored on: Growing gas supply to support the power sector, with a view to achieving at least a 3-fold increase in generating capacity within five years and stimulating gas-based industrialization with a view to positioning Nigeria as African regional hub for gas based industries such as Fertilizer, Petrochemicals, and Methanol etc.
He said these steps would position Nigeria for self-sufficiency in these sectors and at least 5 percent of global output.
The GMD explained that the gas component of the 12 BUFAs initiative would help to “selectively expand our export footprint in high value and strategic foreign markets, with a view to maintaining a 10 percent market share in global LNG trade and dominance in regional gas pipeline supplies.”
On domestic gas utilization architecture, the GMD enthused that measures have since been activated to ensure that the industry responds adequately to the new wave of demand necessitated by the Power Sector massive investments in new power plants and rehabilitation of existing PHCN Power Plants which has increased total gas requirement to 3billion standard cubic feet of gas per day.
“With Nigeria’s current production averaging at 8.0bscfd, of which 1.3bscfd is for domestic consumption, 3.5 bscfd for export, 2.5bscfd for re-injection/fuel gas use and about 0.7bscfd is flared, the need to encourage gas production to meet with the demand becomes paramount,” he said.
The GMD listed the pipeline infrastructure intervention projects that have been completed to include: the Oben-Geregu (196km), Escravos-Warri-Oben (110km), Emuren-Itoki (50km), Itoki-Olorunshogo (31km), Imo River-Alaoji (24km) and the Ukanafun-Calabar (128km).
He said that other projects like the strategic East-West Obiafo/Obirikom to Oben (OB3) pipeline (127km) is scheduled for completion by the end of 2017 while the looping of the Escravos-Lagos Gas Pipeline System from Warri to Lagos is scheduled for completion by July 2017.
“The Ajaokuta-Abuja-Kaduna-Kano pipeline (650km) is currently on tender. This project will soon be awarded under a contractor financing scheme,” he noted.
Dr Baru said Nigeria was on the path of maximizing its gas resources, having put in place a commercially sustainable framework for gas supply, developed an aggressive gas infrastructure blueprint and articulated a gas based industrialization programme that is currently under way.
This year’s SPE Oloibiri Lecture Series & Energy Forum has the theme: “Domestic Gas Utilization in Nigeria: From Producers to Users”.
Mr Saka Matemilola, Council Chariman of SPE, Nigeria, earlier in his opening remarks, called on oil and gas professionals to close ranks and ensure that the country reaps bountifully from its huge hydrocarbon resource base.
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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