Economy
Wike Approves N100m to Boost Water Supply
By Modupe Gbadeyanka
Governor Nyesom Wike of Rivers State has approved the immediate release of N100 million as second tranche counterpart fund for the Rivers State Government/European Union Niger Delta Support Programme (RSG/EU NSDP) for two local government areas.
The RSG-EU/NDSP Programme covers Opobo/Nkoro LGA; and Opobo,Nkoro and Kalaibiama (2) Akuku-Toru LGA : Abonnema,Kula and Abissa.
Mr Wike had earlier released the first tranche of counterpart fund of N100 million to the EU Development Partners.
Speaking during a courtesy visit by the Minister Counsellor of the European Union to Nigeria, Mr Kurt Cornelis, to the Government House, Port Harcourt on Thursday, Governor Wike noted that the fact that his administration paid the first tranche of 50 percent proved his commitment to the project.
“I have given the authority that by tomorrow the second tranche of N100 million be paid. Be rest assured that whatever needs to be done, would be done.
“I commend the EU for this programme. We will never be a state that will be backwards in water and sanitation projects,” the Governor said.
Mr Wike urged the implementers of the Niger Delta Support Programme component 3 to be transparent as they award contracts for the projects.
“Water and sanitation remain key because they are close to the health of our communities. After this project, we expect the EU to give the state more grants so that we can extend this to more local government areas,” Governor Wike said.
Earlier, the Minister Counsellor of the European Union to Nigeria, Mr Kurt Cornelis, called for firm commitment from the State Government on the payment of the remaining 50 percent counterpart fund for the RSG/EU NDSP Water and sanitation projects in Two LGAs.
According to him, the payment is required to determine the scope of the programme. He said that contracts for the programme would be signed on October 26, 2017.
He said: “In principle, we need confirmation of that payment, if we are to carry out 100 percent of the works. We need to take a decision today about the final scope of projects in Rivers State.”
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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