Economy
Reps to Summon Foreign Ship Owners over Surcharge Hike
By Adedapo Adesanya
The House of Representatives has disclosed that it will summon the European Community Ship Owners Association (ESCA) due to the recent hike in Peak Period Surcharge (PSS) on containers set for Nigeria.
Over the past few weeks, shippers have been complaining about the hike in PSS, which in addition to ocean tariff rates as well as bunker-related surcharges, security-related surcharges, terminal handling charges, among others have spiked the cost of shipping in Nigeria.
The PSS was $200 but jerked to between $1,000 and $1,500 per container, a situation that has drawn outrage from importers.
In an interview with a national daily in Abuja, the House Committee Chairman on Ports and Harbour, Mr Datti Garba Mohammed, said the 400 per cent PSS hike by the foreign shippers on goods headed to Nigeria was illegal and against the agreement earlier entered into with the Union of African Shippers Council.
He said, “We are in the midst of COVID-19 which has impacted the economy of the whole world. Suddenly, the European Community Ship Owners Association just imposed a unilateral increase in surcharges which they called peak season surcharge.
“This surcharge is about 400 per cent increment. This is aside from other charges that exist. This was done unilaterally, without consulting their host, the Nigerian Shippers Council, and other authorities that have to do with that.”
He said the economy will be deeply affected due to loss of revenue and inflation from the high cost of the imported goods.
“So, as a parliament, we feel the peak season surcharge is illegal. We have written to all the shipping companies operating in Nigeria. We are inviting them to come and explain the rationale for the unilateral increment,” he further said.
The Nigeria Shippers Council (NSC) had also previously written to ECSA describing the surcharges as economic sabotage. They noted that the surcharges were insensitive and discriminatory since such surcharges were not imposed on shippers in other neighbouring countries of Ghana, Togo and Benin Republic.
The body noted that it was wrong to have introduced such surcharges at a time the economy is just trying to recover from the effect of the coronavirus pandemic.
The NSC had last year identified about eight surcharges being imposed on shippers in Nigeria and other neighbouring countries with a negative impact on the economies.
The surcharges include: PSS; extra risk insurance (ERI)/carrier security fee (CSF) surcharge; congestion surcharge (CS); freight tax surcharge (FTS); operations cost recovery (OCR); low sulphur surcharge (LSS); Bunker adjustment surcharge (B.A.F) and C.A.F. (currency adjustment surcharge).
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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