Economy
Nigerian, Chinese Firms Sign $1bn Gas Flaring Solutions Deal
By Adedapo Adesanya
NIGUS International, a Nigerian firm, has signed a $1 billion agreement with a Chinese firm, Beijing Zhogmin Xinjunlong New Energy Technology Company Limited, to fund and develop gas flaring solutions for Nigeria.
According to reports, the pact signing, held on Friday in Abuja, was in light of the directive of President Bola Tinubu to help end gas flaring and introduce Nigeria into the world of Green Sustainable Energy Production.
Speaking at the agreement signing, Mr Malik Ado Ibrahim, the Chief Executive Officer and Chairman of NIGUS, said the partnership with the Chinese company was aimed at imbibing its new state-of-the-art technology profile to convert flared gas for commercial use.
He said the new technology would create Gas-to-Liquid (GTL), synthetic diesel to galvanise energy mix, Liquefied Natural Gas (LNG) for export, and Liquefied Petroleum Gas (cooking gas), among others.
The GTL technology is a process that converts natural gas, the cleanest burning fossil fuel to high-quality liquid fuels such as gasoline, jet fuel, and diesel,
“The joint venture is about NIGUS, as a renewable energy company, joining forces with the technology that allows us to bring clean climate economy to Nigeria and create value from what we are wasting at the moment to generate lower pricing energy.
“We seem not to be contributing to the carbon footprint, we flare a lot of our gas, 90 per cent of what we produce in Nigeria is being flared, not utilising the gas.
“We are bringing to play a very modern, state-of-the-art technology by joining forces with China to create wealth and carbon neutrality and then generate lower-price energy.
“The project is to demonstrate the president’s wish to utilise flared gas, this technology will put his wishes into action.
“The GTL will allow us to turn the gas into liquid, to create LNG, the paradigm shift is that we will be able to imbed the technology where is needed rather than adding infrastructural cost,” he said, according to the News Agency of Nigeria (NAN).
He explained that the packaging would be beneficial to Nigeria in terms of job creation for economic growth and development.
“If Nigeria is able to push this technology, we can get some global green funds, we expect that our carbon footprint and neutrality profile will allow the joint ventures to assess the kind of funds Mr President put available for Nigeria,” he said.
On his part, Mr Yung Ruming, the Chief Executive Officer, Beijing Zhogmin Xinjunlong New Energy Technology Company Limited, while expressing readiness for the partnership, said his company’s technical team and equipment would be deployed to actualise the project.
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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