Economy
Food Prices Jump to 7-Year High
By Adedapo Adesanya
The global food commodity prices rose to a seven-year high in January 2021, the Food and Agriculture (FAO) has disclosed.
According to the United Nations agency, food prices led by cereals, vegetable oils and sugar, recorded their highest level since July 2014.
The FAO’s Food Price Index, which monitors and records monthly changes in the global prices of commonly-traded food commodities, averaged 113.3 points in January, marking a 4.3 per cent surge compared to December 2020, its highest level in nearly seven years.
The FAO noted in its recent statement that the rise in world food prices continued for the eighth consecutive month in a row with the hardest-hit commodities being “cereals, vegetable oils and sugar.”
The FAO Cereal Price Index for January indicated a 7.1 per cent monthly rise, led by international maize prices, which surged 11.2 per cent and currently stands at 42.3 per cent above their January 2020 level.
On the other hand, wheat prices rose 6.8 per cent, driven by strong global demand and expectations of reduced exports by the Russian Federation whose wheat export duty is expected to double in March 2021.
The FAO document also showed a 5.8 per cent increase in vegetable oil price Index in January, its highest level since May 2012.
According to the organisation, drivers included lower-than-expected palm oil production in Indonesia and Malaysia, due to excessive rainfall and on-going shortages in the migrant labour force, and prolonged strikes in Argentina reducing export availability for soy oil.
Similarly, the FAO Sugar Price Index recorded an uptick, as it rose 8.1 per cent higher than in December, the FAO Dairy Price Index also increased by 1.6 per cent, while the FAO Meat Price Index gained 1.0 per cent from December.
On the production side, FAO’s new estimates for 2020 point to record wheat and rice production.
Looking ahead to 2021 cereal output, early prospects indicate a likely modest increase for winter wheat crops in the northern hemisphere, buoyed by acreage increases in France, India, the Russian Federation and the U.S.A.
Maize output in the southern hemisphere is expected to decline somewhat in Argentina and Brazil from record highs but remain above-average levels. The production outlook in South Africa and neighbouring countries is favourable.
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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