Economy
Nigeria’s Oil Production Jumps 14% to 1.35mbpd in September
By Adedapo Adesanya
Nigeria’s crude oil production rose by 14.4 per cent to 1.35 million barrels per day in September 2023, as the country pumped its highest volume of crude oil so far since this year.
This was contained in the latest data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) which showed that the nation’s output in September was 165,429 barrels per day more than 1.18 million barrels per day pumped in August.
Further analysis of the figures obtained from the NUPRC indicated that in January, February and March, the country’s oil outputs were 1,266,659 barrels per day; 1,292,240 barrels per day; and 1,266,737 barrels per day, respectively.
In the months of April, May, June, and July, Nigeria produced 1,004,392 barrels per day; 1,189,332 barrels per day; 1,260,928 barrels per day; and 1,089,089 barrels per day, respectively.
The crude oil production figures, therefore, showed that Nigeria’s oil production in September was the highest output so far recorded by the country this year. This excludes condensates, which are not often calculated.
Despite this relative development, the country’s oil production is still far below the about 1.8 million barrels per day quota approved for Nigeria by the Organisation of Petroleum Exporting Countries (OPEC).
This is caused by large-scale oil theft from pipelines and wells which coupled with underinvestment and pipeline vandalism is affecting the country’s output and exports which is having a ripple effect on Nigeria’s finances.
The triple whammy has affected the contribution of the commodity to the country’s gross domestic product (GDP) which slowed to 2.51 per cent in the second quarter of 2023. According to the National Bureau of Statistics (NBS), the oil sector’s contribution currently stands at 5.23 per cent.
In the second quarter, the oil sector which accounts for the bulk of government revenue and 90 per cent of foreign-exchange reserves, contracted 13.43 per cent. In the same quarter, Nigeria averaged a daily oil output of 1.22 million barrels per day.
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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