Economy
Beta Glass Receives N12.4b to Upgrade Facilities
By Dipo Olowookere
A strategic partner to beverage brands throughout the world, Frigoglass, has announced planning to pump from €25 to €30 million (about N12.36 billion) into Nigeria-based Beta Glass Plc.
The fresh capital is mainly to expand the company’s furnace capacity at the Beta Glass Guinea plant, located in Agbara, Ogun State.
A statement issued by Frigoglass explained that the investment will increase capacity at the plant by 35,000 tons per year.
The money would be used to acquire a new furnace which will replace an existing one which has reached the end of its life, buy an additional production line, upgrade its existing production lines and also get new quality inspection equipment to strengthen the plant’s capabilities.
This strategic investment will drive continued growth in the company’s Glass business across the West African region, the firm said, adding that the new furnace, with an expected productive life of more than 12 years, demonstrates the commitment to both existing and new customers across West Africa.
Frigoglass said the plant will also pioneer the use of Narrow Neck Press and Blow (NNPB) technology, which will enable production of lighter weight non-returnable glass bottles for the first time in West Africa, stating that the project is expected to become fully operational in 2020.
Commenting on this development, the Chief Executive Officer of Frigoglass, Nikos Mamoulis, said, “This strategic initiative demonstrates our commitment to implement investments that will enable the
group’s future growth. It supports the growth of our international and regional beverage customers in the high growth potential West African region.”
Chairman of Beta Glass Plc, Abimbola Ogunbanjo, also said, “We continue to implement investments to better cater to the growing needs of our customers for glass packaging.
“This investment will significantly increase our annual capacity, allowing us to meet growing demand, not only in Nigeria, but in many countries across West Africa.” Darren Bennett-Voci, Glass Division Director of Frigoglass and Managing Director of Beta Glass Plc, commented that, “This new larger furnace secures the livelihoods of our existing employees in Agbara, and creates not only additional jobs but also shareholder value and contributes positively to the development of the local community.”
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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