Economy
NNPC Adopts AspenOne to Boost Refinery Operations
By Modupe Gbadeyanka
The Nigerian National Petroleum Corporation (NNPC) has adopted the ‘AspenOne Engineering’ Software to optimize its engineering operations as part of efforts to keep the nation’s three refineries up and running.
AspenONE software is an American product which enables process industry companies to optimize their engineering, manufacturing, and supply chain operations, giving AspenTech customers the benefit to achieve, increase capacity, improve margins, reduce costs, become more energy efficient, and achieve excellence in operational goals.
Group General Manager, Engineering and Technology Division of the NNPC, Engr. Farouk Sa’id, made this disclosure during a four-day AspenOne Engineering Software awareness workshop at the NNPC Towers in Abuja.
Represented by the General Manager, Capital Projects, Dr Adewale Ajayi, Mr Sa’id stated that the software would go a long way in stabilizing and optimizing the operations of the Corporation in the upstream, midstream and downstream sectors.
“The collaboration between NNPC and ApenOne Technology is geared towards exposing our engineers to the vast engineering processes in AspenOne Engineering Software and the knowledge would optimize the refineries and all the other Corporate Service Units (CSUs) and Autonomous Business Units (ABUs) of the Corporation,” Mr Sa’id noted.
He said the software was made up of 66 modules, adding that it offers engineering project process design, simulation, trouble shouting, optimization, and project management which when applied to the processes of the NNPC would enable profit maximization.
Participants at the workshop, drawn from the Corporation’s subsidiaries, were urged to take advantage of the session to develop their engineering capacity and ensure high utilization of the software for the benefit of the Corporation.
On his part, representative of AspenOne Technology and Software Licensor, Julian Cazenave, said his firm was focused on process engineering and optimization, stressing that most of the leading global Oil and Gas Companies use the software for their operations.
Meanwhile, the House of Representatives Committee on Petroleum Resources (Downstream) has commended the NNPC for a seamless supply of petroleum products during the last Yuletide and New Year festive period.
The Committee, in an interactive session with top management of the agency in Abuja, said that for the first time in recent memory, the Yuletide and the New Year were celebrated without fuel queues.
The Committee, which has Mr Joseph Akinlaja as Chairman, urged NNPC Management to continue to work hard and ensure uniformity in prices of petroleum products, particularly in the northern part of the country.
“This interactive session would be a continuous one to update relevant industry stakeholders on the development in the industry”, the Chairman said.
Speaking at the session, NNPC GMD, Dr Maikanti Baru, who was represented by the Chief Operating Officer, COO, Downstream, Mr Henry Ikem-Obih, thanked members of the House Committee for their support to the corporation, assuring it that relevant government agencies would be alerted to take appropriate actions on the disparity noticed in products prices in parts of the country.
Dr Baru told the Committee that NNPC would continue to cooperate with it in respect of its oversight functions, among others.
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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