Economy
NLNG Offsets $5.45b Loan, Generates $25b
By Modupe Gbadeyanka
The Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni have signed the Front End Engineering Design (FEED) contract of Train 7 of the Nigeria Liquefied Natural Gas Ltd (NLNG) on Wednesday in London.
The event also witnessed the commemoration of the successful repayment of $5.45 billion shareholders loan for Trains 1-6 by the NLNG Shareholders.
The NLNG T7 expansion project aims to increase NLNG production capacity from 22 MPTA to over 30 MTPA by the debottlenecking of T1-6 and the addition of train -T7 and associated infrastructure at an estimated cost of $4.3 billion. The target Final Investment Decision (FID) date is fourth quarter 2018.
Speaking at the occasion, NNPC Group Managing Director, Dr. Maikanti Baru, expressed the corporation’s readiness to support the Federal Government’s aspirations to actualizing Train-7 of project.
Jointly owned by the NNPC (49%), Shell (25.6%), Total (15%) and Eni (10.4%), NLNG’s successful journey started in 1999 with the commissioning of Train 2 ahead of Train 1 which was commissioned in 2000. The Company grew to a Six Train facility with the commissioning of Train 6 in 2007.
The company sourced a total principal amount of $4.043 billion from its shareholders in their respective shareholding proportions to partly fund the construction of Trains 1-6.
While the interest during the construction period was capitalised and added to principal for repayment from operational date of the financed trains, the total capitalised interest in the shareholders loan is $1.411 billion which, in addition to the total principal drawdown of $4.043 billion, accounted for the total loan amount of $5.45 billion repaid by the company.
The NNPC GMD said as 49 percent shareholder in NLNG, NNPC had immensely contributed to the success of the company over the years, supporting equity participation and contribution to shareholders loan.
“Through critical interface with relevant Government agencies, we have played a pivotal role in the actualization of Trains 1 to 6 (T1-T6). Given the success of T1-T6, NNPC is therefore fully committed and aligned with Government aspirations to replicate the success of this project. Therefore, our current focus is to kick start T7,” Baru noted.
Describing the NLNG as a jewel in the crown of Nigeria as well as a very strategic investment for the nation, Dr. Baru stated that the NLNG would continue to act as a catalyst for nation-building for years to come.
He said the prompt servicing of shareholders’ loan with accelerated repayments did not only demonstrate NLNG’s credit worthiness, it had also reiterated its robust financial position.
Dr. Baru, who lauded President Muhammadu Buhari and Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, for their support, also commended the tireless efforts of the various working teams – the Board and Management of NLNG as well as the Shareholders, the IOCs and the NNPC Finance & Accounts as well as Gas & Power Directorates for working hard towards achieving the feat recorded so far.
“Your sacrifices, faith in Nigeria and unflinching support in providing the required financing and technical support for the NLNG is commendable. It is our hope that this relationship opens a new vista of opportunities for all the Shareholders to play more active roles in the Midstream Oil & Gas business in Nigeria,” Baru added.
Dr. Baru described the company as a source of pride to the Government and people of the Country, the host communities, Shareholders, financial markets and several other stakeholders.
As at today, the GMD observed, the NLNG has generated revenues of more than US$25 billion to the Federal Government of Nigeria comprising Dividends of circa $17 billion and taxes of $7.2billion.
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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