Economy
Oando Secures $800m Afreximbank Loan for NAOC Acquisition
By Bliss Okperan
An $800 million loan has been secured by Oando Plc from the African Export-Import Bank (Afreximbank) at the ongoing Intra-African Trade Fair in Cairo, Egypt.
The syndicated duel credit facility is to be used by the Nigerian energy firm for a 20 per cent participating interest in the Nigerian Agip Oil Company (NAOC) Limited.
The lender, in a statement through its official X handle on Wednesday, said the loan comprises a $500 million Senior Secured Reserve Based Lending facility and a $300 million Receivables Backed Term Loan facility.
Recall that a few months ago, Oando, headed by Mr Wale Tinubu, announced that it had acquired a 100 per cent stake in the Nigerian subsidiary of Italian oil giant, Eni, for an undisclosed sum.
Since then, many stakeholders, including the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have kicked against the transaction.
A few weeks ago, some local contractors asked President Bola Tinubu to interfere in the matter, threatening to occupy all facilities belonging to Agip in the Niger Delta over contract debts.
This new funding support from Afreximbank may have come at the right time, as it would enable Oando to settle all financial issues arising from the acquisition.
“Afreximbank has confirmed the signing of a Mandate Letter for an $800 million Syndicated Dual Facility with Oando. This financial package comprises a $500 million Senior Secured Reserve Based Lending facility and a $300 million Receivables Backed Term Loan facility.
“The aim is to fuel a strategic acquisition of a 20% participating interest in the Nigerian Agip Oil Company Limited (NAOC). This includes Oil Mining Leases 60, 61, 62, and 63, as well as the entire issued share capital of NAOC, acquired from Eni S.A.
“This move perfectly aligns with the Afreximbank’s unwavering commitment to supporting indigenous African institutions. The facility underscores our dedication to financing transactions that not only boost Africa’s trade but also empower local companies by transferring capacity from foreign institutions to African hands.
“This acquisition is a pivotal moment for Oando, propelling it to new heights in the oil industry by significantly enhancing its production capacity. Beyond that, this financing is a shining example of Afreximbank’s prowess in mobilizing capital for robust transactions within its member nations,” the statement from the bank said.
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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