Economy
Tinubu Goes to G20 Summit to Lure Investors for FDIs
By Adedapo Adesanya
President Bola Tinubu is attending the G20 Summit scheduled to take place from September 9 to September 10, 2023, in New Delhi, India, to attract private capital for the development of the nation’s critical infrastructure.
Mr Ajuri Ngelale, Special Adviser to the President on Media and Publicity, disclosed this in Abuja, saying the summit was predicated on the urgent need to attract Foreign Direct Investments (FDIs) into the country.
According to the National Bureau of Statistics (NBS), in the first three months of this year, FDIs contributed just $47.60 million or 4.2 per cent of the capital inflows into the country, from $81.72 million in the last quarter of 2022.
Generally, total capital importation into Nigeria in the first three months of 2023 stood at $1.13 billion, a 28 per cent slide compared to $1.57 billion recorded in the same period of last year.
The Group of Twenty (G20) is the premier forum for international economic cooperation. It plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.
Mr Ngelale said that the president would focus attention on meetings with business executives of the world’s most valuable companies to discuss investment in the critical sectors of the economy for the creation of employment.
“We are focused on engagements that will be dealing with critical sectors of the national economy, involving steel development, electricity generation, transmission and distribution, shipyard building capacity, and several other industries, which we know to be labour intensive.
“Mr President will be hosting a CEO roundtable, which will be made up of more than 20 chief executive officers of major industries across multiple sectors of the Indian economy to ensure that we leverage their interest in investing in the country.
“In addition, there will be at least five meetings with the CEOs of five major industries in India, including Jindal Steel and Power Company, among a few others that would have a very important impact on our ability to develop the steel sector in our country.’’
He said that Tinubu would also meet with the President of Brazil, President Lula da Silva, German Chancellor Olaf Schultz, Indian Prime Minister Mr Narendra Modi, South Korean President, Mr Yoon Suk Yeol, and a few other heads of state on the sidelines of the G20.
“The G20 is a major event for our country at this time, and we are going to ensure that we take maximum advantage of the opportunities presented to bring value to the country.
“To create jobs for our people and, ultimately, to generate and expand existing revenues in the country to ensure the government can effectively fund and sponsor its programmes and policies across sectors.
“When we arrive in India next week, there will be live updates from India, which I will be providing daily to ensure that Nigerians have full access to what our President is doing on their behalf,’’ he 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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