Economy
Nigerian Farmers Urge FG to Divert Fuel Subsidy Funds to Agriculture
By Adedapo Adesanya
Several Nigerian farmers’ groups have come together to call on the new administration of President Bola Tinubu to use the billions of Naira in savings from fuel subsidy removal to develop the nation’s agriculture sector.
They proposed the disbursement of these funds through the National Agriculture Development Fund (NADF).
The coalition’s position was contained in a statement signed by the President of the Young Farmers Network (YFN), Mr Abubakar Bamai, and a host of others on Thursday.
The group stated that investing the subsidy funds in the agriculture sector would enhance productivity and end food insecurity in the country.
“Recognising the critical role that agriculture plays in our nation’s economy, it is imperative that we invest in it for long-term sustainability.
“The diversion of the fuel subsidy payments to the National Agricultural Development Fund will enhance agricultural productivity, promote technological advancement and improve the livelihoods of farmers across the country,” Mr Bamai said.
The YFN president further suggested the areas to which the funds could be channelled to include research and development, farmers’ support programmes, infrastructural development, agricultural extension services and agribusiness development.
According to him, there should be support for agribusiness through access to credit facilities, training and market linkages, fostering entrepreneurship and creating employment opportunities in the agricultural value chain.
Mr Bamai, however, said that the call was not in any way aimed at undermining the need to address the concerns and welfare of Nigerians in the wake of the fuel price increase.
The statement also quoted the President of the Women Farmers’ Association of Nigeria (WFAN), Mrs Amina Kabir, as saying that NADF would address some lapses encountered in the Central Bank of Nigeria’s Anchor Borrowers Scheme.
She said this was achievable, particularly as the agency would be dealing directly with the farmers and not through the Private Finance Initiative (PFI).
“With National Agricultural Development Fund, I don’t think we will have a problem with PFI because we have another channel, the one that knows the importance of agriculture and is there for agriculture, to give us lasting solutions,” Mrs Kabir said.
On his part, the President of the Dates Farmers’ Association of Nigeria (DFAN), Mr Usaini Dikko, said that NADF, like Tertiary Education Trust Fund (TETFund), would go a long way in transforming the agriculture sector.
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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