Economy
NUPRC Completes Regulatory Approval for Eni, Equinor Divestment Deals
By Adedapo Adesanya
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday announced the completion of all regulatory processes for the assets sale between Eni’s Nigerian Agip Oil Company (NAOC) as well as that between Equinor and Chappal.
The chief executive of NUPRC, Mr Gbenga Komolafe, disclosed this on the final day of the NOG Energy Week in Abuja and said the signing ceremonies for the two concluded deals would come up in a few days.
The regulator also stated that documents submitted by Shell Petroleum Development Company (SPDC) in its $2.4 billion deal were undergoing due diligence by the commission, pending approval.
On the Mobil Producing Nigeria (MPN) and Seplat $2.4 billion oil assets’ sale, Mr Komolafe, explained that the latter opted for ministerial consent before finalising pending issues with the commission.
In November last year, the Norwegian state-owned multinational energy company, Equinor, said it had inked a deal with Nigerian-owned Chappal Energies, allowing the latter to acquire its business in Africa’s biggest oil producer.
The transaction included Equinor Nigeria Energy Company’s 20.2 per cent stake in Chevron-operated Agbami, the country’s largest deep-water oilfields. Equinor holds a 53.9 per cent interest in oil & gas lease OMLs 128 and 129.
Also, in August 2023, Oando Plc reached an agreement with Eni on the acquisition of a 100 per cent stake in its subsidiary, Agip.
The transaction is expected to expand Oando’s current participating interests in oil mining leases (OMLs) 60, 61, 62, and 63, from 20 per cent to 40 per cent.
Mr Komolafe added, “As a matter of fact, I find it necessary to announce here this afternoon, how we are always very willing to inform the industry about the status of our activities. So, as regards the status of the four divestments, the first, the Oando divestment, I’m happy to announce that the exercise has been completed, as I speak to you, and the signing ceremony will be conducted in a few days.
“In a likewise manner, the divestment involving Equinor and Chappal is equally completed and the signing ceremony will be conducted in the coming days, equally. So, we can celebrate that.
“As regards the divestment of SPDC to the group for renaissance, the status is that the regulator has received the documentation and the transaction is currently underway in the industry. So, we hope that it will be gradually positioned to be announced in a few months.
“Then, regarding the divestment, the transaction involving Mobil and Seplat, currently, the company has expressed commitment to proceed to apply for ministerial consent to conclude the documentation to the commission.
“So, the position I’m expressing here is that the NUPRC, as the regulator, as we speak, is yet to receive the documentation for due diligence in respect of Mobil and Seplat transaction.”
He added that whereas Nigeria’s oil rig count fell to as low as eight in 2021, it had recently soared to as many as 34 as of June 24, underscoring the increasing activities in the upstream sector.
On the commission’s high-impact achievements, the NUPRC chief executive stated that it conducted an industry-wide integrated study on the re-activation of shut-in strings in Nigeria to unlock 700,000 barrels per day while approvals were granted for well interventions and re-entry operations with the potential to develop greater than six million barrels of oil and five trillion cubic feet (TCF) of gas.
Komolafe added that NUPRC approved field development plans for additional production from four fields with a peak potential of circa 125 thousand barrels of oil per day.
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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