Economy
FG Designs Online Portal to Monitor Agric Interventions to Farmers
By Modupe Gbadeyanka
An online portal aimed to ensure efficient and effective monitoring of federal government intervention in the agricultural sector has been designed by the federal government.
The Minister of Agriculture and Rural Development, Mr Muhammad Sabo Nanono, disclosed that the initiative will capture the biodata of about 10 million farmers and link it with geographical information of their farmed plots, crops and the volumes of production in the country.
Speaking during the opening ceremony of the 44th council meeting of the National Council on Agriculture and Rural Development (NCARD) held at the International Conference Centre, Abuja on Thursday, June 17, 2021, the Minister said the portal was initially designed to “capture the data of 2.4 million farmers across the country, the results from the exercise have encouraged the Economic Sustainability Plan team to expand the data capture to 10 million farmers.”
He stated that the database will be “a platform for the federal government interventions going forward, putting an end to ghost schemes and other unscrupulous practices in the agricultural industry.”
Mr Nanono noted that “a major hallmark of our agricultural interventions is inclusiveness. We have catered for the youths, women, and many demographic considerations in our implementation strategies.”
The Minister explained that “as a stop-gap intervention, we launched the Agric for Food and Jobs Program, originally conceived as an input loan for smallholder farmers across several commodities including maize, rice, cotton, groundnut, sorghum, cowpea, soybean, sesame, cassava and oil palm.”
“The scheme brought into a partnership with the Central Bank of Nigeria (CBN), Commodity Association and Agricultural Platform Companies for effective facilitation.
“This we believe will not only improve production significantly but also aid in the off–taking of produce while providing input at a reduced price due to economy of scale,” he said.
Mr Nanono noted that “the challenges brought by the emergence of the COVID–19 pandemic, floods and insecurity has galvanised the government into setting up a necessary structure to address the infrastructural deficiency, technology gaps, security challenges, and extension inadequacy.”
“This approach is believed to be the right one for achieving our desired economic diversification and national development,” the Minister added.
He noted that the NCARD would promote the existing policies, programmes, and projects at the national and sub-national levels for the purpose of entrenching synergy, best practices, entrepreneurship, livelihood, and growth in the sector.
Mr Nanono reemphasised that “agricultural productivity can only improve through the mechanization of production activities. In our effort to improve the agricultural production profile of the country, we have entered into a partnership with the government of Brazil through one of their foremost technology transfer, the Fundacao Getulio Vargas (FGV).”
He further said that “this partnership has yielded an agricultural mechanisation loan to the tune of €995 million. This shall be granted to Nigerian entrepreneurs to establish service centres across all the 774 Local Government of the country, selling services to all categories of farmers and thereby helping to improve their productivity.”
“The services centres shall be either a Type 1, supporting production activities or Type 2, supporting processing and packaging activities,” he explained.
The Minister informed that “the ministry in collaboration with the Nigerian Export Promotion Council (NEPC) has been working to exploit a strategic advantage in the production of commodities like sesame, hibiscus, cotton and sorghum to improve production protocols to conform with internationally acceptable standards, maintenance of an exporters’ directory and exporter certificate verification portal.”
He stressed that “the ministry has embarked on increasing the number of available extension workers in the different aspects of our operations. This year, about 1,200 extension workers have been trained.”
The Minister highlighted that “with the green imperative project launching soon, there is a component of it that will see the training of extension workers in agricultural mechanisation and other important aspects of crop and livestock operations.”
He pointed out that “the National Livestock Transformation Plan (NLTP), has been adjudged worldwide to be a well-conceived project which seeks to transform our livestock sector from the nomadic – dependent sector into an organised ranching one.”
“To this end, 22 states and Federal Capital Territory have registered with the NLTP Office. Seven of these 10 states have also earmarked about 19 grazing reserves for the implementation of the NLTP, with a total land size of approximately 400,000 hectares,” he said.
According to him, it is, therefore, safe to say, that NLTP, when fully implemented, will bring an end to the incessant clashes between the farmers and herdsmen at the same time introduce the herders to the modern way of raising cattle, with all added benefits of improved feeding, animal and human, genetic improvement, value addition and better socio-economic standing for all participants.
In his remarks, the Minister of Federal Capital Territory Administration (FCTA), Mr Mohammed Musa Bello, represented by the Special Assistant, Prof. Mohammed Usman, said that the theme of this year’s council meeting Agriculture and Food Security in the face of COVID-19, Floods and Insecurity is apt enough and a reminder to the effect that we are yet to win the fight on the pandemic.
He added there is a need for robust interaction and ideas among stakeholders on how to reposition the Agricultural sector.
In his welcome address, the Minister of State, Agriculture and Rural Development, Mr Mustapha Baba Shehuri, said that “Nigeria economy had its GDP contracted for two consecutive terms of the second and third quarter in 2020; leading to recession.
“It was in the fourth quarter of 2020 that the economy returned to positive growth with GDP expanding to 0.1 per cent from the contraction of 3.6 per cent (negative growth) experienced in the third quarter. The feat was achieved through the contribution mainly attributed to the performance of the agricultural sector.”
Mr Shehuri observed that “as a matter of fact, local production of maize, rice, cassava, potatoes, yam, and other staples steadily increased, it is also the same story in livestock, fisheries and dairy sector. The fact that we did not import food during the lockdown era was a testimony that we can grow what we eat and eat what we produce.”
In his goodwill message, the Chairman, House Committee on Agricultural Production and Services, Mr Muntari Mohammed Dandutse, stated the National Assembly would fast-track the bills being raised as an outcome or resolution of the NCARD towards achieving food security and job creation.
While giving a vote of thanks, the Permanent Secretary in the Ministry, Mr Ernest Umakhihe, thanked the stakeholders for their commitment and technical support during the 44th Regular Meeting of the National Council on Agriculture and Rural Development.
Economy
SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs
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.
Economy
Fidson Lists Additional 600 million Shares on Stock Exchange
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.”
Economy
FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure
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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