Economy
FG Vows to Support Cotton Farmers, Textile Investors
By Dipo Olowookere
Stakeholders in the textile industry have been reassured by the federal government of adequate support so as to use the sector to create millions of jobs for Nigerians and help attain security and stability in the country.
Permanent Secretary in the Federal Ministry of Agriculture and Rural Development, Mr Mohammed Umar, who gave this assurance, reiterated government’s commitment to reviving the production of cotton and facilitating the restoration of the textile industry in Nigeria.
“We are ready and our farmers are ready to go back to the farm and the government is ready to provide the farmers with the enabling environment and materials to enhance their production capacity. The issue of raw materials for textile production will soon be rested,” he said during a stakeholder’s meeting with the Nigeria–Vietnam Chamber of Commerce and Industry on the revival of the Nigerian cotton, textile and garment sector.
According to Mr Umar, the meeting was part of the next level transformation agenda of the present administration aimed at repositioning the agricultural sector as a launching pad for rapid economic development. He assured that Nigeria is ready to work with the Vietnam-Nigeria Chamber of Commerce to facilitate the textile business.
In his presentation, President of the chamber, Mr Oye Akinsemoyin, who led the delegation, inferred that having carefully studied the situation in the cotton industry in Nigeria, the agency was conscious of the need for a shift in government’s over–reliance on oil.
He continued that this move can enhance other sectors of the economy, especially the agricultural sector such that the textile industry which has been laid comatose for so long can be revived.
Mr Akinsemoyin stressed that part of the diversification plan aims to promote made in Nigeria goods and encourage Nigerians to promote Nigerian products above the foreign ones.
He informed the meeting about the need for Nigeria to plan towards showcasing its made–in Nigeria products at the19th Vietnam International Textile and Garment Industry Exhibition scheduled to hold in Vietnam later in the year.
On his part, the Director of Agricultural Business and Marketing in the Ministry, Mr Azeez Olumuyiwa urged the stakeholders to deliberate and come up with a Nigerian position to be discussed with their Vietnamese counterparts on the needed areas of collaboration.
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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