Economy
How Nigerians Paid 3.5% More to Buy Diesel in July 2021
By Sodeinde Temidayo David
Nigerians had to cough out 3.5 per cent more than the price they purchased Automotive Gas Oil (AGO) also known as diesel in June 2021 for the product in July 2021, the National Bureau of Statistics (NBS) has said.
Last month, according to the data released by the stats office, a litre of diesel cost N250.82 on average compared with N242.43 in June 2021.
In its Diesel Price Watch Report, the NBS said the price of the product was 11.8 per cent year-on-year higher than N224.43 in July 2020.
Breaking down the data, it was stated that the highest cost for diesel was in Borno at N290.3 per litre, 13.7 per cent higher than N255.43 per litre it was sold in June.
In addition, filling stations in Adamawa sold diesel for N275.00/litre compared to N256.00/litre in the previous month, showing a rise of 7.4 per cent.
In Abia State, the product was sold for N274.25/litre in contrast to N238.46/litre it was sold in the preceding month, indicating a rise by 15 per cent.
However, states with the lowest average price for diesel were Plateau at N230.00 per litre; Anambra at N233.67 for a litre; and Kogi at N234.17 a litre.
Looking at the average prices of diesel across the six geo-political zones of the country, the North East and the North Central, which has seen spates of farmers-herders conflicts, banditry and kidnappings, recorded the highest rate at N261.90 and N252.29 respectively.
They were followed by the South East with N250.38, South West at N248.68, South-South at N247.27, and North West at N245.05.
In Lagos, the average price of diesel stood at N245 per litre, 2.8 per cent higher than N238.25 per litre in June 2021, while in Abuja, the price was N251/litre as against N246/litre in the preceding month, implying a 2.0 per cent increase.
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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