Economy
NNPC Tasks Local Firms to Bid for 30 Marginal Fields
By Modupe Gbadeyanka
Members of the Independent Petroleum Producers Group (IPPG) have been urged to participate in the forthcoming bid round for about 30 marginal oil fields which would soon be flagged off by the Federal Government.
Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, made this plea when he received a delegation of IPPG led by its chairman, Engr. Ademola Adeyemi-Bero, at the NNPC Towers in Abuja.
He said members of the group should take advantage of the low crude oil price regime to develop their capacity and acquire technology.
Mr Baru stated that there were lots of opportunities in the marginal fields which would soon be available urging the IPPG to work hand-in-hand with the Department of Petroleum Resources (DPR) to ensure that they met the conditions that would be required from bidders.
“The marginal oil field lease renewal is an opportunity for your group. You will need to engage the DPR early in discussion to find out the conditions that the Federal Government is interested in. For example, the supply of gas to power plants and fertilizer plants and I think your group will be successful,” the GMD advised.
The NNPC GMD also tasked the IPPG members to ramp up their collective production from 10 percent of national production to 50 percent in the next 10 years in order to increase the footprint of indigenous companies in the upstream sub-sector as is the case in the downstream.
The NNPC helmsman stated that the agency was passionate about collaborating with the indigenous producers in order to grow their capacity and participation in the exploration and production sub-sector in line with government’s local content policy.
He said the corporation was very proud of them and was looking forward to a time when about ninety per cent of upstream operations in the country would be controlled by them.
Mr Baru applauded members of the group for their productive community engagement which had stemmed the incidence of pipeline sabotage along the Trans Forcados Pipeline and enjoined them to extend similar gesture to the communities around the other crude oil lines to help stabilize national production.
Earlier, Chairman of the Group, Engr. Adeyemi-Bero, who made a presentation to the NNPC management, said the group was made up of twenty five active indigenous producers and driven by the passion to support the 12 Business Focus Areas of the current management of NNPC and the Seven Big Wins of the Federal Government.
The Chairman praised the Federal Government for initiating the Joint Venture cash call exit programme, stressing that the move would bolster their activities in the upstream sub-sector.
The IPPG was formed a year ago with the mandate to promote and advance the collective interest of members in a coordinated manner as a unified advocacy platform for Federal Government policies in the upstream sub-sector of the oil and gas industry.
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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