Economy
Nigeria’s September Inflation Jumps to 11.24% as Food Prices Rise
By Adedapo Adesanya
The headline inflation rate in Nigeria increased to 11.24 percent (year-on-year) in September 2019 from the 11.02 percent it recorded in August 2019, data from the National Bureau of Statistics (NBS) revealed on Tuesday.
Business Post reports that the inflation jumped by this higher margin as the effect of the border closure by federal government as well as stringent economic policies continue to bite hard on the nation, causing prices of goods and food items to rise at the market.
According to the stats office, the consumer price index (CPI), which measures inflation, rose in the period under review by 0.22 percent when compared with the previous month.
The border closure, which did not reflect much in the August figures because it was only captured for 11 days during the 31 days reference period, heavily impacted on the September figures.
In the report released this morning, the bureau noted that increases were recorded in all Classification of Individual Consumption According to Purpose (COICOP) divisions that yielded the headline index.
On month-on-month basis, the headline index increased by 1.04 percent in September 2019, which is 0.05 points higher than the rate recorded in August 2019 at 0.99 percent.
The data showed that the percentage change in the average composite CPI for the twelve months period ending September 2019 over the average of the CPI for the previous twelve months period was 11.268 percent, showing 0.003 percent point from 11.271 percent recorded in August 2019.
Increases also reflected in both urban and rural inflation as urban inflation rate increased by 11.78 percent (year-on-year) in September 2019 from 11.48 percent recorded in August 2019, while the rural inflation rate increased by 10.77 percent in September 2019 from 10.61 percent in August 2019.
On a month-on-month basis, urban index rose by 1.13 percent in September 2019, indicating a 0.09 rise compared to 1.04 percent recorded in August 2019, while the rural index also rose by 0.96 percent in September 2019, up by 0.03 from the 0.93 percent recorded in August 2019.
The corresponding twelve-month year-on-year average percentage change for the urban index is 11.63 percent in September 2019 which is higher than 11.62 percent reported in August 2019, while the corresponding rural inflation rate in September 2019 is 10.94 percent compared to 10.95 percent recorded in the previous month.
The data indicated that price of food such as bread and cereals, oils and fats, meat, potatoes, yam and other tubers, fish and vegetables all recorded increases in prices.
According to the NBS, the composite food index rose by 13.51 percent in September 2019 from 13.17 percent in August 2019.
It was stated that this rise in the food index was caused by increases in prices of Bread and cereals, Oils and fats, Meat, Potatoes, Yam and other tubers, Fish and Vegetables.
On month-on-month basis, the food sub-index increased by 1.30 percent in September 2019, up by 0.08 percent points from 1.22 percent recorded in August 2019.
The average annual rate of change of the Food sub-index for the twelve-month period ending September 2019 over the previous twelve-month average was 13.47 percent, 0.01 percent points from the average annual rate of change recorded in August 2019 (13.46) percent.
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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