Economy
Global Food Prices Index Rises 1.2% in July 2020
By Adedapo Adesanya
Global food prices continued rising for the second consecutive month in July, led by vegetable oils and dairy products, according to the benchmark United Nations report released on Thursday by the Food and Agriculture Organisation (FAO).
The FAO Food Price Index, which tracks international prices of the most commonly traded food commodities, averaged 94.2 points in July, a 1.2 per cent increase from June and nearly 1.0 per cent higher than July 2019.
The FAO Vegetable Oil Price Index increased 7.6 per cent since June to reach a five-month high, with international quotations for the key oils rising amid the coronavirus pandemic. The agency noted that in the case of palm oil, it was caused by likely production slowdowns, revived global import demand and prolonged migrant labour shortages.
The FAO Dairy Price Index rose 3.5 per cent in the month under review, with all products from butter and cheese to milk powders rising.
The FAO Cereal Price Index was practically unchanged from June, although maize and sorghum prices registered a sharp increase – influenced by large purchases by China from the United States of America.
However, those of rice fell, reflecting prospects of large 2020 harvests while wheat prices changed little amid slow trade activity.
The FAO Sugar Price Index rose 1.4 per cent, as strong sugar crush numbers from Brazil only partly mitigated the effects of rising energy prices and the prospects of lower sugar production in Thailand due to a severe drought.
The FAO Meat Price Index, in contrast, declined by 1.8 per cent in July and averaged 9.2 per cent below its level of July 2019. Pig and bovine meat quotations both fell in the month as global import demand volumes remained below export availabilities, despite the coronavirus-induced disruptions to the industry in key exporting regions.
Poultry meat prices increased, influenced by production cuts in Brazil triggered by high feed costs and concerns over future demand.
The price coverage of the FAO Food Price Index was expanded and rebased in July 2020. The base period 2014–2016 was chosen as the new base as it was considered the most representative period for most markets in the past ten years.
Over time, the body noted that it is important to review price inputs when new conditions affect their availability, representativeness and timeliness. As trade patterns evolve, it is imperative to update the base period to ensure that the weighted basket remains relevant.
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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