Economy
NNPC Rakes $472m From Export Receipts in July
By Dipo Olowookere
The management of the Nigerian National Petroleum Corporation (NNPC) has announced making a total of $471.90 million in export receipts for the month of July 2017 as against $219.34 million posted in June 2017.
According to the July edition of the Monthly Financial and Operations Report of the agency, which was made public on Thursday, contribution from crude oil amounted to $392.20 million while gas and miscellaneous receipts stood at $64.72 million and $14.98 million respectively. .
The report indicated that of the export receipt, $108.09 million was remitted to the Federation Account while $363.81 million was remitted to fund the Joint Venture cash call for the month of July, 2017, to guarantee current and future production.
Providing a broader perspective, the report noted that the total export of crude oil and gas receipt for the period of July 2016 to July 2017 stood at $2.77 billion. Out of that, the sum of $2.31 billion was transferred to JV cash call in line with the budget and the balance of $0.46 Billion was paid to Federation Account.
The NNPC observed that the low receipt was due to the twin effects of production disruption in Niger-Delta and low crude oil prices during the period.
On Naira payments to the Federation Account, the NNPC announced that the Domestic Crude Oil and Gas receipt during the month amounted to N145.83 billion, consisting of N5.56 billion from Domestic Gas and the sum of N140.27 billion from Domestic Crude Oil. It was noted that out of the naira receipt, the sum of N56.30 billion was transferred to Joint Venture Cash Call (JVCC) being a first line charge and to guarantee continuous flow of revenue stream to Federation Account.
In all, the Federation Crude Oil and Gas liftings are broadly classified into Equity Export and Domestic. Both categories are lifted and marketed by NNPC and the proceeds remitted into the Federation Account.
Equity Export receipts, after revision for Joint Venture (JV) Cash Calls, are paid directly into Federation Account domiciled in Central Bank of Nigeria (CBN). Domestic crude oil of 445,000 barrels per day is allocated for refining to meet domestic products supply. Payments are effected to Federation Account by NNPC after adjusting crude & product losses and pipeline repairs & management cost incurred during the period.
NNPC also lifts crude oil and gas, other than equity and domestic crude oil, on behalf of the Department of Petroleum Resources (DPR) and the Federal Inland Revenue Services (FIRS), proceeds of which are remitted into Federation Account.
The Third Party finance liftings are Crude Oil and Gas liftings from fields that are financed using alternative finance/loan facility which require the servicing of debt obligations before remitting the balance into the Federation Account.
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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