Economy
NNPC Trading Surplus Depletes 4.1% to N28.4bn
By Adedapo Adesanya
The Nigerian National Petroleum Corporation (NNPC) has said its trading surplus dropped 4.1 per cent to N28.4 billion in September 2020.
The national oil corporation disclosed this in its latest Monthly Financial and Operation Report (MFOR) for the month of September, released in Abuja recently.
The trading surplus was N1.22 billion lesser than the amount of N29.6 billion surplus recorded in August 2020.
The marginal reduction in surplus, according to the report, was as a result of lower contribution from the Nigerian Petroleum Development Company (NPDC) which recorded zero crude oil lifting from the Okono Okpoho facility during the month under review.
It added that the development further occurred as a result of ongoing repairs in the facility.
Giving a breakdown, NNPC noted that, “However, other NNPC subsidiaries namely the Integrated Data Services Limited (IDSL), National Engineering and Technical Company Limited (NETCO), Nigerian Gas Marketing Company (NGMC), Petroleum Products Marketing Company (PPMC) and NNPC Retail posted impressive trading results.
“They recorded 268, 234, 21, 422 and 41 per cent trading surpluses respectively over their previous month’s performance.”
The report further noted that the corporation also recorded a total export revenue for crude oil and gas valued at $120.49 million for the month of September.
“The $120.49 million crude oil and gas export revenue is a 16.28 per cent improvement on the $100.88 million posted in August 2020.
“Out of the figure, proceeds from crude oil amounted to 85.40 million dollars while gas and miscellaneous receipts stood at 25.31 million dollars and 9.78 million dollars respectively,” it revealed.
In the gas sector, a total of 223.82 billion cubic feet (bcf) of natural gas was produced in the month under review translating to an average daily production of 7,460.80million standard cubic feet per day (mmscfd).
For the period September 2019 to September 2020, a total of 3,039.05 bcf of gas was produced representing an average daily production of 7,730.35 mmscfd during the period.
“Period-to-date production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and NPDC contributed about 69.1, 20.3 and 10.6 per cent respectively to the total national gas production.
“Out of the 221.91 bcf of gas supplied in September 2020, a total of 140.45bcf was commercialised, consisting of 36.37bcf and 104.08bcf for the domestic and export markets respectively,” it said.
It further noted that the supply translated to a total supply of 1,212.17 mmscfd of gas to the domestic market and 3,469.45 mmscfd of gas supplied to the export market for the month.
This, it said implied that 63.3 per cent of the average daily gas produced was commercialised while the balance of 36.7 per cent was re-injected, used as upstream fuel gas or flared.
It noted that gas flare rate was 6.7 per cent for the month under review (i.e. 492.93 mmscfd compared with average gas flare rate of 5.84 per cent which accounts to 439.90 mmscfd for the period of September 2019 to September 2020).
To ensure effective supply and distribution of Premium Motor Spirit (PMS) across the country, a total of 0.59 billion litres of PMS translating to 19.6 million litres/day was supplied for the month in the downstream sector.
During the period under review, 21 pipeline points were vandalised representing about 43 per cent decrease from the 37 points recorded in August 2020.
Of this figure, it said that Mosimi Area accounted for 90 per cent of the vandalised points, while Port Harcourt Area accounted for the remaining 10 per cent.
It assured that the NNPC, in collaboration with the local communities and other stakeholders, continuously strive to reduce and eventually eliminate this menace.
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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