Economy
IITA-Zambia to Get New Modern Maize Seed Storage Facility
By Dipo Olowookere
IITA-Zambia formally signed a contract with a local construction firm for the establishment of a modern maize seed storage and warehouse facility within the IITA Southern Africa Research and Administration (SARAH) campus in Kabangwe, Zambia, in the next 3 months.
The construction of the facility is being funded by the African Development Bank (AfDB) through its Support to Agriculture Research for Development of Strategic Crops (SARD-SC) project.
The contract signing was followed by a ceremonial ground-breaking at the facility’s future site on-campus.
Construction work for the storage facility will begin on 15 February and is expected to be completed by mid-May. The facility is estimated to cost some 1.1 million Zambian Kwacha, or about $110,000.
Mr David Chikoye, IITA Regional Director for Southern Africa, indicated that the storage facility will further boost our capabilities to more efficiently deliver much needed seed-related services to maize smallholder farmers not only in Zambia but also within the southern Africa region.
“One of the current challenges is that we lack a proper storage facility for seeds. Without proper storage, the viability of seeds suffers and consequently, lead to less-than-ideal crop productivity,” Mr Chikoye said.
“This seed storage facility—once completed—will help catalyse our efforts to realize IITA’s mission and vision in the country and in the region,” he added. Addressing the contractor, he emphasized, “With this construction job, you are actually contributing towards addressing hunger and poverty in Zambia. So do a good job.”
Mr Chikoye also revealed plans for further strengthening the SARAH research facilities in 2017.
“We moved to this campus barely a year ago, and while dealing with ‘teething’ issues we continue to augment our research infrastructure as expeditiously as we can with available resources,” Mr Chikoye explained.
“For example, we are just now putting the finishing touches on four screenhouses. And apart from the seed storage facility, we are also aiming to build a tissue culture laboratory within this year.
“Of course, none of these would be possible without the continuous support of our partners and donors.
“Specifically, I would like to thank the AfDB for funding the construction of the seed storage facility. It’s always a good feeling that we can always count on our partners to benefit our smallholder farmers.
“Indeed, exciting times are ahead for IITA-Zambia and SARAH, so keep watch,” he ended.
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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