Economy
China-Nigeria Trade Hits $9.5b in 2016
By Modupe Gbadeyanka
Trade between China and Nigeria reached $9.5 billion in 2016, the Economic and Commercial Counsellor of the Chinese Embassy, Mr Zhao Linxiang, has disclosed.
Mr Linxiang gave the figure at a dinner to host participants of different training courses in China on last Friday in Abuja.
He said Nigeria remained China’s fourth largest trading partner in Africa despite challenges in bilateral relations between both countries.
“In the first 11 months of last year (2016), our bilateral trade reached $9.5 billion. It is a great achievement under the current condition the Nigerian economy is.
So far, China’s total investment in Nigeria reached $2.2 billion and Nigeria is China’s important destination in Africa. Our investment cooperation is expanding.” He said.
The counsellor noted that a large number of Chinese investors and entrepreneurs are involved in diverse areas of economic development in Nigeria.
Mr Linxiang reiterated China’s commitment to work with Nigeria to strengthen mutually beneficial cooperation and promote Nigeria’s industrialization and agricultural modernization.
He said implementation of the 10 major China-Africa cooperation projects initiated in 2016 is in progress noting that both countries can better enhance cooperation in the area of capacity building.
”We will provide more training and scholarship for Nigerians under the framework of `1000 People Plan’,” he said.
The envoy said the Chinese government offered training opportunities to 3,200 Nigerians in the last decade.
He stated that in 2016, 40 Nigerian officials and technicians were trained in the China-Nigeria Agricultural Technical Training programme held in Abuja while 260 officials participated in different training opportunities in China.
The Minister of State for Budget and National Planning, Mrs Zainab Ahmed, underscored the importance of the relationship between both countries.
“China has been in several developmental places in Nigeria.
“We will be reaching out to you to make sure that some of the projects that we have started discussing are crystallizing within the shortest possible time,” she said.
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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