Economy
Nigeria’s Inflation Rises First Time in Three Months to 32.70%
By Adedapo Adesanya
Nigeria’s inflation rate rose in September 2024 for the first time in three months, advancing to 32.70 per cent from 32.15 per cent in August.
This beat analysts’ expectations from Meristem Research which noted that Nigeria’s headline inflation for September 2024 should rise by 0.06 per cent to 32.21 per cent in the period under review.
Looking at the movement, the September 2024 Headline inflation rate showed an increase of 0.55 per cent compared to the August 2024 headline inflation rate.
On a year-on-year basis, the headline inflation rate was 5.98 per cent points higher than the 26.72 per cent recorded in September 2023.
This shows that the headline inflation rate (year-on-year basis) increased in September 2024 when compared to the same month in the preceding year (i.e., September 2023).
Furthermore, on a month-on-month basis, the headline inflation rate in September 2024 was 2.52 per cent, which was 0.30 per cent higher than the rate recorded in August 2024 (2.22 per cent).
This means that in September 2024, the rate of increase in the average price level is higher than the rate of increase in the average price level in August 2024.
The food inflation rate in September 2024 was 37.77 per cent on a year-on-year basis, 7.13 per cent points higher than the rate recorded in September 2023 (30.64 per cent).
The rise in food inflation on a year-on-year basis was caused by increases in prices of the following items: guinea corn, rice, maize grains, beans, etc (bread and cereals class), yam, water yam, cassava tuber, etc (potatoes, yam & other tubers class), beer (local and foreign) (tobacco class), Lipton, Milo, Bournvita, etc (coffee, tea & cocoa class) and vegetable oil, palm oil, etc (oil & fats class).
On a month-on-month basis, the Food inflation rate in September 2024 was 2.64 per cent which showed a 0.27 per cent increase compared to the rate recorded in August 2024 (2.37 per cent).
The average annual rate of Food inflation for the twelve months ending September 2024 over the previous twelve-month average was 37.53 per cent which was an 11.88 per cent point increase from the average annual rate of change recorded in September 2023 (25.65 per cent).
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn