Economy
Cheap NPK Fertilizers: Minister Claps for Indorama
By Aduragbemi Omiyale
Indorama Eleme Fertilizer and Chemicals Limited (IEFCL), located at Eleme in Port Harcourt, Rivers State, has won the admiration of the Minister of Agriculture and Rural Development, Mr Muhammad Sabo Nanono.
Mr Nanono, who was at the company’s factory last Thursday, said he was impressed with the decision of the management to use its blending plants for the production of NPK fertilizers at a subsidized price to smallholder farmers.
He also expressed satisfaction with the massive supply of Urea fertilizers to over 70 per cent of farmers in Nigeria, saying this will increase food production in the country.
During the facility tour, the Minister commended Indorama for its environment, production capacity, employment creation and the provision of business opportunities for Nigerian graduates, artisans, farmers, and entrepreneurs.
The Minister used the occasion to advocate more strategic partnerships and robust collaborations with stakeholders in the fertilizer industry to boost production and develop the sector.
He said the effort would ensure its affordability, increased production, self–sufficiency, easy access to products by the farmers, and achieve food and nutrition security.
Mr Nanono acknowledged the company for being a strategic partner in the development of the agricultural sector, especially in the supply of fertilizer products like NPK, Urea, and DAP to farmers across the country.
“Indorama is deeply embedded in the agricultural transformation agenda of President Mohammed Buhari’s administration and the nation’s economic development in general,” the Minister said.
In his remarks, the Chief Executive Officer of Indorama, Mr Munish Jindal, stated that the vision of the company is to build the largest petrochemicals and fertilizer hub of Africa in Nigeria and to empower the Nigerian farmers by ensuring the production of quality fertilizers.
Business Post reports that Indorama boasts of two fertilizer plants with a production capacity of 3 million metric tons of Urea fertilizer per annum.
The factory has different sections of the Trains 1 and 2 fertilizer plants, including the state-of-the-art control rooms, the ammonia plants, urea plants, power plants and gagging section.
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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