Economy
NNPC Insists ‘No Plan to Hike Fuel Price’
By Dipo Olowookere
For the umpteenth time, the Nigerian National Petroleum Corporation (NNPC) has maintained that it has no plan to raise upward the pump price of Premium Motor Spirit (PMS), otherwise called petrol.
This comes after reports suggested that the price of the commodity would be increase by the Federal Government any moment.
At the public hearing organised by the Senate last week, Minister of State for Petroleum, Mr Ibe Kachikwu, disclosed that with the present pump price of N145 per litre in the country, it was difficult for oil marketers to import the product and sell at that price because the landing cost of petrol was now N171 per litre.
He said the scarcity of petrol being experienced in the country was as a result of inability of the marketers to bring in the product.
The Minister had suggested that if the marketers must import petrol into Nigeria, they may have to sell above N170 per litre. He said another alternative was to give the oil marketers a special forex rate that would make them sell at N145 per litre.
But after the public hearing, there were reports that government was planning to increase price of the product, which Nigerians are not happy about.
However, the NNPC has urged citizens not to panic as there was no plan to execute an increase in the pump price of petrol.
In a statement, the state-owned oil firm assured motorists and other consumers of petroleum products that the pump price of petrol remains N143 per litre in NNPC Retail outlets and N145 per litre in other fuel stations, while PMS ex-depot price of N133.28k per litre to marketers is still being maintained.
The statement said in the last few weeks, the NNPC has increased its daily truck-outs of PMS per day to ensure petrol sufficiency across the states of the federation.
Motorists and other consumers of petroleum products are assured that NNPC has a robust sufficiency of petroleum products to cater for their daily consumption, the statement said.
“Marketers are hereby cautioned against hoarding or diversion, as law enforcement agencies have been enjoined to deal appropriately with defaulters.
“Again, NNPC affirms that it has no intention, whatsoever, to execute any increase in the pump price of petrol, as such the price of PMS stands at N143 per litre in NNPC Retail outlets and N145 per litre in other fuel stations,” it maintained.
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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