Economy
Nigeria Loses N3tr In 2016 To Militants
By Dipo Olowookere
Vice-Chairman of the Security Subcommittee of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry (LCCI), Mr Shina Bankole, has revealed that Nigeria has lost about N3 trillion to militants in the oil Niger Delta region of the country.
Mr Bankole made this known while speaking in Lagos on Monday at the 17th Health Safety and Environment (HSE) Biennial Conference on the Oil and Gas Industry in Nigeria organised by the Department of Petroleum Resources (DPR).
He specifically said Nigeria has lost over 130 million barrels of crude oil from January to October this year to the activities of militant groups in the Niger Delta region, numbering about 32.
Going his assertion and using the estimate of $50 per barrel and exchange rate of N470/$, Nigeria has lost about N3 trillion within the period under review.
Mr Bankole, who doubles as the General Manager in charge of Security at Chevron Nigeria Limited, lamented that the oil and gas industry had known peace until things changed in 2015.
“Within the same period, the rate of sabotage on oil and gas assets has led to lost production opportunities by the oil companies.
“As of today, more than 130 million barrels of crude oil have been lost due to the inability of the oil companies to produce as a result of the activities of the militants,” Mr Bankole said.
According to him, the rehabilitation of about 30,000 ex-agitators, the Amnesty Programme introduced in 2009 by the federal government had successfully restored normalcy to the oil-producing region until 2015 when new militant groups began to emerge.
He lamented that the resurgence of militancy since 2015 has led to the proliferation of militant groups, stressing that as of today, no fewer than 32 of such groups have emerged in the Niger Delta, some with possible ethnic agenda, while others came with a criminal agenda.
However, he expressed confidence that the government would bring a lasting solution to the Niger Delta problem.
Also speaking at the event, Minister of State for Petroleum, Dr Ibe Kachikwu, said the insecurity in the Niger Delta had raised the cost of security by six times over the past 10 years.
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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