Economy
Nigerian Breweries Plans N600bn Rights Issue to Ease Debt Burden
By Dipo Olowookere
One of the leading beer makers in the country, Nigerian Breweries Plc, intends to source about N600 billion from the capital market through a rights issue.
A notice from the brewer on Wednesday disclosed that proceeds from the exercise would be used to ease its “huge debt burden” arising from the devaluation of the Naira.
The decision of the Central Bank of Nigeria (CBN) to devalue the Naira has continued to have a negative impact on businesses in the country, with some packing up.
Nigerian Breweries has not been spared of this, and to return the firm to the “path of sustainable profitability in the near future,” the board wants about N600 billion to complement the other strategic steps taken to make the company viable, including increasing the prices of its products.
In the disclosure today, the board said the decision to raise the fresh funds was reached at “a specially convened meeting of the board of directors of the company” on Tuesday.
However, to achieve this, it would need the approval of the organisation’s shareholders at the Annual General Meeting (AGM) fixed for April 26, 2024.
The shareholders will also be required to approve an increase in the company’s share capital to accommodate the new shares to be allotted under the rights issue.
“Nigerian Breweries Plc hereby informs the Nigerian Exchange Limited and the investing public that at a specially convened meeting of the board of directors of the company held on April 2, 2024, the board resolved to recommend to shareholders at the next Annual General Meeting (AGM) the raising of up to N600 billion capital by way of rights issue, subject to regulatory approvals.
“Due to the negative impact of the devaluation of the Naira and the high cost of funds on the company’s capital structure, especially on the company’s debts, the proceeds from the rights issue will help to reduce the huge debt burden arising, thereby leading to a healthier balance sheet.
“Coupled with ongoing cost savings and other operational efficiency efforts, the board is optimistic about steering the company back to the path of sustainable profitability in the near future.
“The board also resolved to recommend to shareholders at the AGM scheduled for April 26, 2024, the increase in the company’s share capital to take care of the new shares to be allotted under the rights issue,” the statement stated.
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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