Economy
Tambuwal, Dangote, Sultan Flag off Rice Mill at Goronyo
By Modupe Gbadeyanka
Governor Aminu Tambuwal along with the President of Dangote Group, Mr Aliko Dangote flagged off a rice outgrowers’ scheme on Wednesday, which will cover 25,000 hectares of farmland across some selected local government areas of Sokoto state.
Speaking at the site of the event which held in Goronyo Dam, Mr Dangote said the project will within the next three years produce at least one million tonne of high quality parboiled rice for Nigerian market.
He said to achieve this, his company plans to cultivate 160,000 hectares of irrigable rice farmland in selected states, including Sokoto, which will be cultivated to grow paddy during two cropping-season per year.
“With this, we hope to achieve a minimum yield of five to six tonnes per hectare. Our plans are to off-take not less that 80 percent of the paddy produced by the outgrowers. We will also develop our own farm operations to include seed multiplication capabilities,” he added.
According to him, Dangote Rice Limited aims to boost the local economy, create jobs along the value and make a significant contribution to the transformation of subsistence farms into market-oriented agribusinesses.
In his remarks, Mr Tambuwal commended Dangote for siting the project in Sokoto State, saying the renewed efforts of his administration in the sector has started yielding the desired result.
The Governor said education and agriculture have remained the two top sectors in the priority list in the state in the last two years, revealing that this year, Sokoto has allocated more to agriculture than all states of the federation.
“We have had series of visits to different countries and signed various MoUs with many organisations and entities, Dangote inclusive, with a view to uplifting agriculture in the state.
“So the Dangote Rice Project in Sokoto State will not only provide food security and employment to our teeming unemployed youths, it would ensure the overall development of agricultural activities in the state,” he added.
Mr Tambuwal assured that all necessary incentives have been put in place to ensure smooth operation of the scheme.
In his remarks, Sultan of Sokoto, Mr Muhammad Sa’ad Abubakar, urged the people to embrace this opportunity to improve their farming technique and standards of living.
He said the people of Sokoto are grateful for the opportunity and will mobilise needed resources to ensure its success.
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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