Economy
BREAKING: Nigeria’s Inflation Hits 13.22% in August
By Adedapo Adesanya
Inflation rate in Nigeria in the month of August 2020 rose by 13.22 per cent year-on-year, 0.40 per cent higher than the 12.82 per cent reached in the month of July.
This indicated that consumers in the country paid 13.22 per cent more than what they paid for the same goods and services in the same period of last year.
According to the data released on Tuesday by the National Bureau of Statistics (NBS), the increase in the inflation rate was due to the 16.00 per cent rise in the composite food index rose in August 2020 compared to 15.48 per cent in July 2020.
The rise in the food index was because of increases in prices of bread and cereals, potatoes, yam and other tubers, meat, fish, fruits, oils and fats and vegetables in the month under review.
Also in the month, there were increases in the prices of passenger transport by air, hospital services, medical services, pharmaceutical products, maintenance and repair of personal transport equipment, vehicle spare parts, motor cars, passenger transport by road, miscellaneous services relating to the dwelling, repair of furniture and paramedical services.
In the NBS report titled Consumer Price Index CPI/Inflation, it was stressed that increases were also recorded in all the 12 Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.
On a month-on-month basis, the headline index increased by 1.34 per cent in August 2020, 0.09 per cent higher than the rate recorded in July 2020 (1.25 per cent).
During the period under review, urban inflation rate increased by 13.83 per cent in August 2020 from 13.40 per cent recorded in July 2020, while the rural inflation rate increased by 12.65 per cent in August 2020 from 12.28 per cent in the seventh month.
On a month-on-month basis, the urban index rose by 1.42 per cent in August 2020, up by 0.15 from 1.27 per cent recorded in the preceding month, while the rural index also rose by 1.27 per cent in August 2020, up by 0.04 from 1.23 per cent in July.
In August 2020, the NBS said, all items index on a year-on-year basis was highest in Kogi (17.29 per cent), Bauchi (15.77 per cent) and Ebonyi and Yobe (14.71 per cent), while Lagos (11.45 per cent), Kwara (11.22 per cent) and Abuja (11.17 per cent) recorded the slowest rise in headline year-on-year inflation.
In August 2020, food inflation on a year-on-year basis was highest in Kogi (22.03 per cent), Kwara (19.11 per cent) and Edo (17.95 per cent), while Gombe (14.33 per cent), Kano (13.99 per cent) and Bauchi (13.42 per cent) recorded the slowest rise
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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