Economy
Cooking Gas Prices Dropped in May 2023—NBS
By Adedapo Adesanya
The cost of refilling the different sizes of liquefied petroleum gas (LPG), commonly known as cooking gas, went down in May 2023, providing some form of succour for Nigerians.
This is according to the latest data released by the National Bureau of Statistics (NBS), which showed considerable drops in the costs of refilling 12.5kg and 5kg cylinders.
In its May 2023 LPG report, the NBS revealed a 7.61 per cent month-on-month decrease in the average retail price for a 12.5kg LPG cylinder, selling at N9,537.89 in May 2023, in contrast to N10,323.33 in April 2023.
However, when compared with the same period of last year, the price increased by 9.30 per cent, as the size was N8,726.30 in May 2022.
The report also highlighted a decline in the average retail price for refilling a 5kg cooking gas cylinder.
On a month-on-month basis, there was a 6.07 per cent decrease, with prices falling from N4,642.27 in April 2023 to N4,360.69 in May 2023, though the cost rose by 11.20 per cent on a year-on-year basis from N3,921.35 in comparison to May 2022.
Nigerians in Cross River, Jigawa, and Akwa Ibom states paid the highest for a 12.5kg LPG refill during the highlighted period. People in Cross River paid N11,083, while those in Jigawa paid N10,975 and people in Akwa Ibom paid N10,174.29.
However, Nigerians in Adamawa, Zamfara and Borno paid the lowest cost for a 12.5kg LPG refill during the highlighted period. In Adamawa, a 12.5kg refill cost N7,925 and N8,128.57 in Zamfara.
Also, Bayelsa recorded the highest average price for refilling a 5kg cylinder of cooking gas with N5,016.67, followed by Zamfara with N5,000.00, and Abuja with N4,900.00.
Meanwhile, Ondo recorded the lowest price with N3,795.83, followed by Nasarawa and Edo with N3,800.00 and N3,837.14, respectively.
There are some indications that gas prices will further drop in the coming months. This is due to continued changes in the international markets, just as efforts to ramp up domestic supply increase.
However, domestic value chain factors like higher interest rates amid the continued fight to bring down inflation and the recent adjustments to foreign exchange operations can turn this around.
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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