Economy
NNPC Chief Tasks National Assembly Consultant on PIB
By Modupe Gbadeyanka
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, has challenged consultant to the National Assembly on Petroleum Industry Reform Bill to take a comprehensive look at the issues in the oil and gas sector and make bold recommendations that could engender enduring reforms.
The GMD gave the charge at a consultative meeting with the consultants to the National Assembly led by the lead consultant and former Director of the Department of Petroleum Resources (DPR), Mr Osteen Olorunsola.
He said with the passage of the Petroleum Industry Governance Bill which deals with the governance structure of the industry by the National Assembly, the remaining two segments of fiscal terms and host communities would require extensive consultation to aggregate views and opinions of industry stakeholders in order to strike a balance that could attract investments while ensuring a decent government-take in terms of oil and gas revenue.
Speaking specifically on the fiscal terms, Mr Baru said the major complaint by operators in the industry was that of multiple taxation which include statutory contributions to the Niger Delta Development Commission (NDDC) and Nigerian Content Development and Monitoring Board (NCDMB) as well as sundry expenses on security.
“We have to be able to design a system that works. If the 3%, 13% or any other statutory allocation for development is not working, then you should not be afraid to recommend a percentage that could work to replace the present system where operators pay multiple taxes and yet have to pay much more extra to secure their investments,” he said.
He said NNPC was interested in the segment of the PIB relating to the fiscal terms and was ready to spend considerable time and efforts to ensure that the National Assembly got it right in the interest of the nation.
He said NNPC would work very closely with the consultants to arrive at models that can respond to future challenges in the industry.
On his part, the lead consultant, Mr Osteen Olorunsola, thanked the GMD for the opportunity to rob minds on the critical issues surrounding the remaining segments of the Petroleum Industry Bill.
He said their mission was to seek input to come up with a comprehensive and balanced report to guide the National Assembly in its legislative work with regards to the Petroleum Industry Reform Bill.
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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