Economy
Nigeria’s Natural Gas Reserve Amounts to 206.53TCF
By Adedapo Adesanya
The Department of Petroleum Resources (DPR) has disclosed that Nigeria’s proven natural gas reserve stands at 206.53 trillion cubic feet.
This was disclosed by Mr Sarki Auwalu, Director, DPR, on Thursday in Abuja at the ongoing 2021 Nigeria International Petroleum Summit (NIPS).
The figure, which takes into cognizance from the beginning of the year, represents a marginal increase of 3.37 trillion cubic feet, 1.7 per cent higher than the 203.16 trillion cubic feet recorded in the corresponding date of January 1, 2020.
He said that the growth of gas reserves was a critical lever to achieving the federal government’s Decade of Gas Initiative aimed at transforming Nigeria into a gas-powered economy by 2030.
Mr Auwalu said: “Nigeria attained the target of 200tcf of natural gas reserves by the Reserve Declaration as at January 2019 before the 2020 target.
“Thereafter, the government set a target to attain a Reserve Position of 2020 trillion cubic feet by 2030.
“As a department, we have continued to drive industry performance to grow reserves via dedicated gas exploration, deep drilling, optimal appraisal, field studies and improved oil recovery.
“It is, therefore, my pleasure to formally declare the National Gas Reserves Position as at January 1, 2021, at this important forum.
“Nigeria’s Natural Gas Reserves as at January 1, 2021, stands at 206.53 trillion cubic feet. Associated Gas is 100.73 trillion cubic feet and Non-Associated Gas is 105.80 trillion cubic feet, making a total of 206.53 trillion cubic feet.”
He said the recent award of 57 marginal oilfields to indigenous companies was one of the strategies to increase their participation in the country’s oil and gas industry.
According to him, Nigeria’s human and natural resources, coupled with being Africa’s largest economy, places the country at a vantage position for investment and participation.
Mr Auwalu said: “Nigeria is positioned to optimally develop its oil and gas resources for the benefit of its 200 million shareholders. Indigenous operators have a significant role to play.
“Government’s aspirations and policy thrust of the Decade of Gas underpin the drive for investments across the value chain.
“Government will support indigenous and marginal field operators to grow, share and enhance participation in the sector for wealth and value creation”.
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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