Economy
NNPC December 2020 Trading Surplus Rises 80.1%
By Adedapo Adesanya
The Nigerian National Petroleum Corporation (NNPC) has announced an increase of 80.1 per cent in trading surplus for the month of December 2020.
In the December 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), the agency said it recorded a trading surplus of N24.2 billion in the period under review compared with the N13.4 billion achieved in November 2020.
Business Post reports that a trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue in the period under review.
In a press release issued by the Group General Manager, Group Public Affairs Division of the NNPC, Mr Kennie Obateru, it was stated that the operating revenue in December 2020 was N546.7 billion in contrast to N409.7 billion recorded in November 2020, indicating an increase by 33.4 per cent or N137 billion.
In the 65th edition of the NNPC MFOR, which highlights the corporation’s activities for the period of December 2019 to December 2020, it was noted that the expenditure for the month increased by 27.5 per cent or N112.8 billion to N522.5 billion from N409.7 billion, with the December 2020 expenditure as a proportion of revenue at 0.96 as against 0.97 in November 2020.
The report indicated that the 80.1 per cent increase was mainly due to the significant rise in the profit of NNPC’s flagship upstream entity, the Nigerian Petroleum Development Company (NPDC), amid improved market fundamentals and strong global demand for crude oil.
Other contributory factors to the robust trading surplus recorded in the month under review included the improved performance by the Nigerian Gas Marketing Company (NGMC), the Petroleum Products Marketing Company (PPMC), the National Engineering and Technical Company (NETCO) and Duke Oil Incorporated which recorded noticeable gains in their operations.
In the downstream, 2.26 billion litres of white products were sold and distributed by PPMC in the month of December 2020 compared to 1.72 billion litres in the month of November 2020.
This comprised 2.25 billion litres of petrol, translating to 72.7 million litres/day, 11.40 million litres of Automotive Gas Oil (diesel) and 0.48 million litres of kerosene.
Total sale of white products for the period of December 2019 to December 2020 stood at 18.5 billion litres and petrol accounted for 18.3 billion litres or 99.3 per cent.
In monetary terms, the volume translates to a value of N288.8 billion recorded on the sale of white products by PPMC in the month of December 2020 compared to N226.1 billion sales in November 2020.
Total revenues generated from the sales of white products for the period December 2019 to December 2020 stood at N2.2 trillion, where petrol contributed about 99.1 per cent of the total sales with a value of N2.2 trillion.
In December 2020, a total of 43 pipeline points were vandalized representing about an 18.6 per cent increase from the 35 points recorded in November 2020.
Mosimi Area accounted for 56 per cent of the vandalized points while Kaduna Area and Port Harcourt accounted for the remaining 33 per cent and 12 per cent respectively.
In the gas sector, natural gas production in December 2020 stood at 213.34 billion cubic feet (BCF) translating to an average daily production of 6,881.83 million standard cubic feet of gas per day (mmscfd).
The daily average natural gas supply to power plants increased by 3.5 per cent to 816 mmscfd, equivalent to power generation of 3,445 Megawatts (MW).
Out of the 208.6 BCF of gas supplied in December 2020, a total of 146.7 BCF was commercialised; consisting of 42.9 BCF and 103.8 BCF for the domestic and export market respectively.
This translates to a total supply of 1,383.9 mmscfd of gas to the domestic market and 3,349 mmscfd of gas supplied to the export market for the month.
This implies that 70.3 per cent of the average daily gas produced was commercialized while the balance of 29.7 per cent was re-injected, used as upstream fuel gas or flared.
The gas flare rate was 6.8 per cent for the month under review (i.e. 457.25 mmscfd) compared to the average gas flare rate of 7.2 per cent (i.e. 538.59 mmscfd) for the period December 2019 to December 2020.
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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