Economy
Nigeria Reaping Dividends of Economic Diversification—Awolowo
By Dipo Olowookere
Executive Director of the Nigerian Export Promotion Council (NEPC), Mr Olusegun Awolowo, has expressed his delight in the gains recorded by the country’s economy as a result of earning foreign exchange from other sources apart from oil.
Since the present administration of President Muhammadu Buhari came on board, there have been efforts made to diversify Nigeria’s economy.
According to Mr Awolowo, the Nigerian economy was beginning to record positive trade balance as a result of increase in exports.
The NEPC boss, while reacting to the recent release by the National Bureau of Statistics (NBS) on the Q2, 2017 report on Foreign Trade in Goods Statistics, stated that the 3.2 percent growth in export value in the second quarter of 2017 was a “proof that the economy has indeed recovered from recession and is on its way to sustainable growth as envisioned by the administration of President Muhammadu Buhari, in the recently launched Economic Recovery and Growth Plan (ERGP).”
He added that, “As expected, we therefore see a strong correlation between economic recovery and improved export trade i.e. as exports increase, the economy improves.
“Current efforts by the government to accelerate the development of a more diversified economy, with emphasis on non-oil exports, has started to yield positive results.”
The NBS, in its report, stated that Nigeria’s total export value at N3.1 trillion in the second quarter of this year, representing an increase of 3.2 percent over Q1 2017 and a very significant 73.48 percent over Q2 in 2016.
The report covered seven sectors, namely; Agriculture, Oil & Gas, Raw Materials, Solid Minerals, Manufactured Goods, Energy and other Oil related goods.
NEPC was established through the promulgation of the Nigerian Export Promotion Council Decree No. 26 of 1976, now an Act.
It was established to promote non-oil exports as the key driver of the Nigerian economy. It was also formed to position the export market as the growth opportunity of choice for private sector earnings and sustainable economic development.
However, Mr Awolowo has called for all hands to be on deck to build a stronger and more vibrant economy as the council would continue to leverage on the power of export to transform the economy.
He noted that, “NEPC focuses entirely on leveraging the power of exports to transform the Nigerian economy, create jobs, lift people out of poverty, and strengthen the government’s finances.”
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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