Economy
Nigeria’s Total Oil Production Jumps 4.2% to 1.737mb/d in January 2025
By Adedapo Adesanya
Nigeria’s total oil production, including condensate, rose by 4.2 per cent to 1.737 million barrels per day, in January 2025, up from the 1.667 million barrels per day recorded in December 2024.
This is according to latest data by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Nigeria, which is Africa’s largest oil producer, saw its output record a 5.7 percent increase, reaching 1.737 million bpd in January 2025, compared to 1.643 million barrels per day in the same period of 2024.
In its latest report on Crude Oil and Condensate Production, the NUPRC stated, “Lowest and peak production in January was 1.66 million bopd and 1.79 million bopd, respectively. The average crude oil production was 103 percent of OPEC quota (1.5 mbpd).
“The daily average production in January was 1,737,480 barrels per day, comprising both crude oil (1,538,697 bopd) and condensate (198,783 bopd),” it stated.
This development confirms that Nigeria has once again met the Organisation of Petroleum Exporting Countries, OPEC, production quota of 1.5 million barrels per day but fell short of the 2.06 million barrels per day target set in the 2025 budget based on a projected oil price of $75 per barrel.
However, according to OPEC’s recently released February 2025 Monthly Oil Market Report (MOMR) Nigeria’s crude oil production, excluding condensate, grew by 6.3 per cent MoM to 1.539 million barrels per day in January 2025, up from 1.485 million barrels per day in December 2024.
On a Year-on-Year basis, the country’s crude oil output, excluding condensate, rose by 7.8 per cent from 1.427 million bpd in January 2024 to 1.539 million bpd in January 2025, according to OPEC.
The cartel stated that these figures were based on data obtained through direct communication. It also reaffirmed that Nigeria remains Africa’s top crude oil producer, while Equatorial Guinea ranks lowest with an output of 62,000 barrels per day.
The report further confirmed that Nigeria met OPEC’s quota of 1.5 million barrels per day.
Meanwhile, the Nigerian government is making efforts across investments and security to achieve the 2.06 million barrels per day production target outlined in the N52 trillion 2025 budget.
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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