Economy
SEPLAT Lauds Former Director for Contributing to Company’s Journey, Transformation
Seplat Energy Plc (SEPLAT) has commended Mr Xavier Rolet, KBE, a former Independent Non-Executive Director and Chairman of its remunerations committee (REMCO) for his contributions to the energy company’s journey and transformational vision.
Dr ABC Orjiako, Chairman of SEPLAT who lauded Rolet after he stepped down from the Board of Seplat Energy Plc effective Thursday, November 11 on personal reasons said, ‘We would like to thank Mr Rolet for his contributions and the wealth of experience he brought to the Board.”
Rolet joined SEPLAT board on October 1, 2020, as an independent non-executive director of the company.
In his decade at the helm of the London Stock Exchange (LSE), he grew its fortunes as the market valuation rose from £800 million to more than £15 billion.
“He showed great commitment and passion toward Seplat Energy’s journey and our transformational vision. We wish him well in his future endeavours,” Seplat Chairman added.
Seplat Energy’s focus is clear: “Reliable energy, limitless potential”. The leading Nigerian independent energy company listed on both the Nigerian Exchange Limited (NGX) and the London Stock Exchange reported a nine-month (Q3) 2021 revenue of N182.7 billion, representing a rise of 18.7 per cent year-on-year.
Seplat Energy Plc production has recovered strongly since the outage at Forcados Oil Terminal (FOT) and it has been averaging nearly 33kbopd liquids throughout October.
Now that its production has normalised, SEPLAT expects production to be in the range 48-50 kboepd for the year, provided uptime on the Forcados Pipeline and FOT remains above the budgeted 80percent. Its new wells at Gbetiokun are performing strongly, and the company will soon commence drilling the exciting Sibiri prospect on OML40.
SEPLAT business model is robust, despite setbacks in the third quarter, thanks to the prudent and flexible approach the company has taken to managing the business.
With an increased focus on efficiency in its operations, improving uptime by opening up the Amukpe to Escravos Pipeline and driving further cost reduction across its portfolio, this will provide the bedrock allowing SEPLAT to operate effectively in fluctuating commodity prices and generate returns for shareholders.
It paid shareholders an interim dividend of 2.5 cents ($0.025) as shown in its unaudited results for the nine months ended September 30, 2021.
SEPLAT reported an operating profit of N62.6 billion, representing a rise by 299 per cent year-on-year.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose to N105.7 billion from N71.9 billion recorded 9M 2020, depicting a growth of 29.6 per cent.
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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