Economy
Edo Announces 40% Reduction in Market Levy
By Modupe Gbadeyanka
The levy paid by markets in Edo State has been reduced by Governor Godwin Obaseki.
The Governor made this announcement when he received members of the Market Women Association led by Madam Blackie Ogiamien, who paid him a courtesy visit at the Government House, in Benin City, Edo State.
Mr Obaseki explained that this decision was taken to boost the profit margin of traders in the state.
According to him, traders who would benefit from the cut are those whose businesses are not viable in Agbado, Oliha, Ogiso and Uwa markets in Benin City, the state capital, and declared that traders who were paying N5,000 before the announcement, will now pay N3,000.
He assured market women that his administration has made double ticketing and touting history in the state, noting that he would give priority to Edo citizens on job creation.
He said that in the coming months, the state government would ensure that power, water and sanitation issues receive the desired attention in all the markets within Benin metropolis.
Mr Obaseki said that traders who trade in densely populated areas would have access to health care services.
He urged the traders to support his administration’s effort to eradicate child labour in the state by reporting suspected cases to the appropriate authority.
Earlier, the leader of the traders, Madam Blackie Ogiamien, commended the governor for the steps taken to spread development across the state, adding that Mr Obaseki’s governance style is worth commending.
She lauded the governor’s resolve to address double taxation and touting which place much burden on the traders, noting that the gesture would increase their profit.
In a related development, members of the National Union of Road Transport Workers (NURTW) in the state have thrown their weight behind Mr Obaseki for delivering the dividends of democracy to the people.
State Chairman of NURTW, Mr Odio Olaye, who led other members of the union on a solidarity walk to the Government House in Benin City, commended the governor for what he called “the good work Obaseki has done within a short time in office,” and assured that members of the union are behind him.
He urged those peddling falsehood to distract the governor to desist from the act and maintained that the governor deserved to be praised.
The union leader said: “It is only those who are blind that will not see the good work you are doing. You are building roads, we are seeing the projects and our members are happy with you. We appreciate the good work you are doing with the Edo State Traffic Management Agency (EDSTMA), the vigilante group and the Public Works Volunteers (PUWOV) programme.”
In his remark, the Governor expressed appreciation to members of the union for their support and assured that: “My administration is determined to make life more meaningful for the average Edo person. My vision is to transform the economy and make the state viable for businesses to thrive. I have engaged contractors to rehabilitate and reconstruct roads across the 18 local government areas of the state.”
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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