Economy
NNPC to Site 4600MW Power Plants in Abuja, Kano
By Modupe Gbadeyanka
The recently approved contract for the construction of Ajaokuta-Abuja-Kaduna-Kano Gas Pipeline project, dubbed AKK Pipeline, has started yielding early benefits with the commitment by NNPC to build power generating plants with combined capacity of 4600 megawatts in Abuja, Kaduna and Kano States.
NNPC’s Group Managing Director, Dr. Maikanti Baru, who disclosed this during a courtesy call on him by the Executive Governor of Niger State, Alhaji Abubakar Sani Bello, Tuesday in Abuja, said the Corporation in partnership with private investors would build power generating plants to support the Federal Government’s effort to provide stable electricity in the Country.
“As part of the drive to establish power plants to augment the power supply to the nation, the Federal Executive Council has recently approved the AKK Gas Pipeline project to be financed through Public Private Partnership (PPP). The project comes with other auxiliary ones which include, 1350megawatts, 900megawatts and 2350megawatts of power generation plants in Abuja, Kaduna and Kano respectively,” Baru stated.
The GMD stated that the NNPC in partnership with private investors would also build fertilizer plants in some parts of the country, one of which would be located at Izzon, Niger State.
Dr. Baru informed the visitors that in line with the presidential mandate on oil exploration in all the frontier basins, the NNPC was well-focused on the exploration in the Bida Basin and would carry out the job professionally.
“We have contracted the geological mapping of the Bida Basin to Ibrahim Babangida University, Lapai and the job would be completed in three months,” Dr. Baru Stated.
He explained that once the geological mapping is completed, the NNPC’s Integrated Data Services Limited would be engaged to carry out the other aspects of the seismic activities, which would be completed by July 2018.
The GMD stated the Corporation would go into more detailed 2D seismic data acquisition in the Bida Basin by August 2018, to be followed by an Environmental Impact Assessment exercise in order to establish what the baseline is, which would signify the need or otherwise for the deployment of 3D acquisition facilities.
As part of efforts to decongest the highways, the GMD said the NNPC would encourage private investors to build tanker parking facilities around Minna Depot, Suleja Depot, Tegina, Mokwa, amongst others and charge the users of the facility appropriately.
Dr. Baru explained that talk was ongoing with the Federal Ministry of Works, Power and Housing to re-introduce weight bridges on the highways to checkmate the issue of excessive loading by tankers above the recommended 46, 000ton gross weight.
He said that the NNPC, on its part, had already directed all its Depots nationwide to stop loading tankers with loading capacity above 40, 000litres.
In his remarks, Governor Abubakar Sani Bello said that the NNPC, under the stewardship of Dr. Baru, was doing well, adding that what was being witnessed is a a new NNPC that is transparent in all its dealings.
He stated that the essence of their visit was to get first-hand information on NNPC’s plans on oil exploration in the Bida Basin and to also solicit NNPC’s support on finding alternative parking space for tankers parking along the highways and communities in the State.
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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