Economy
Adesina Wins $250,000 World Food Prize
By Dipo Olowookere
President of the African Development Bank (AfDB), Mr Akinwumi Adesina, has been announced as winner of the 2017 World Food Prize Laureate.
Mr Adesina, the immediate past Minister of Agriculture in Nigeria, clinched the prize due to his achievements in the area of boosting agriculture in Africa.
Specifically, his role in revamping the agricultural sector in Nigeria when he was a Minister under the administration of former President Goodluck Jonathan made him win the $250,000 monetary reward attached to the honour.
Announcing Mr Adesina as winner on Monday, the World Food Prize Foundation President, Mr Kenneth Quinn, noted that the AfDB boss was chosen for driving change in African agriculture for over 25 years and improving food security for millions across the continent.
According to Mr Quinn, Mr Adesina led a major expansion of commercial bank lending to farmers as Vice President of Alliance for a Green Revolution in Africa (AGRA) and as Minister of Agriculture in Nigeria, introduced the E-Wallet system.
He said Mr Adesina’s efforts made Nigeria self-sufficient in rice production, and also making cassava a major cash crop in the country.
“Our Laureate next played a leadership role in the development of AGRA, during which he led the effort to exponentially expand commercial credit for the agricultural sector and for farmers across the continent.
“And then, as Minister of Agriculture of his home country Nigeria, our Laureate introduced the E-Wallet system which broke the back of the corrupt elements that had controlled the fertilizer distribution system for 40 years.
“The reforms he implemented increased food production by 21 million metric tonnes and attracted 5.6 billion dollars in private sector investments, thus earning him the reputation as the ‘Farmer’s Minister’,” Mr Quinn said.
Mr Adesina will be presented the $250,000 prize and Laureate sculpture at a ceremony at the Iowa State Capitol on October 19.
The AfDB President was Nigeria’s Minister of Agriculture from 2011 to 2015.
He is the 46th person and the sixth African to win the World Food Prize.
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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