Economy
Ambode Urges FG, States to Copy Lagos’ Economic Policies
By Modupe Gbadeyanka
Lagos State Governor, Mr Akinwunmi Ambode has stressed the need for the Federal Government to emulate the template working for Lagos, which has made it to flourish despite the harsh economic situation in the country.
Mr Ambode, while receiving members of the National Economic Council (NEC) Implementation Monitoring Committee on Retreat on the Economy at the Lagos House in Ikeja on Monday, urged the committee to “observe it and document it also and use it to encourage other states to create that concentric cycle of growth and development in the country.”
According to the Governor, it is very important for states to learn from each other and explore their various areas of strength and strategic partnership to engender economic development.
Mr Ambode urged leader of the team, the Minister of State for Budget and National Planning, Mrs Zainab Ahmed, “urged the Federal Government to create a framework that would allow states to benefit from each other with the view to fostering concentric cycle of growth in the country.”
He thanked the committee for choosing Lagos as the first state to visit, saying that it was a confirmation of the success of the partnership between Lagos and Kebbi State on commodities production.
“The essence of this is that beyond the things that we say in NEC in terms of project, we should be able to find a common platform and a framework that allows every other State to benefit from the comparative advantage that each state is bringing to the table and the choice of Lagos as the first state to visit by the committee in terms of the project signified how serious we have been able to carry out most of the things we have been doing and what underscores that is what we have been able to achieve in our little time on the partnership with Kebbi State on commodities production in the country.
“We believe strongly that the way to go forward is for us to bring out our comparative advantages in our various States and be able to learn from each other.
“So, I want to recommend to this Committee that beyond the fact that you are doing visitation, let it end up to be part of the framework to work around peer-review mechanism amongst States and then for us to take advantage of what we are doing,” Mr Ambode said.
He noted that beyond partnership with Kebbi State, his administration has also significantly improved on the Gross Domestic Product (GDP) of Lagos in terms of improving on the productivity of citizens and making life more comfortable for them.
“We have improved so much on security to create that platform to allow people to do their business more comfortably and in doing that, the end result is that when more people are doing their trade and distributing goods and services, it is likely to touch on our IGR and that means more people will pay taxes which at the end of the day we would use to provide more infrastructures.
“So, I want to recommend this template to this Committee that you should observe it and document it also and use it to encourage other States to create that concentric cycle of growth and development in the country,” Governor Ambode said.
He also commended the Vice President, Mr Yemi Osinbajo, who also doubled as NEC Chairman for taking strong steps to actualize deliberations and conclusions reached at NEC meetings for the greater benefit of the people.
Earlier, Mrs Ahmed said her team was at Lagos House as part of the flag-off of the Implementation Monitoring Visit in line with NEC resolution and the retreat which the Vice President had with Governors in 2016.
She recalled that at the retreat, participants agreed to address 71 key items, noting that Lagos State, out of others, had already presented a good plan to the Committee.
The Minister also commended the partnership between Lagos and Kebbi States, especially the new Rice Milling Plant being developed, saying that the partnership was a sterling example of cooperation to expand growth.
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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