Economy
Infrastructural Deficit Slowing Nigeria’s Economic Growth—CBN
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has blamed the slow economic growth in Nigeria on the infrastructural deficit, noting that it was making efforts to address this issue.
The Governor of the CBN, Mr Godwin Emefiele, while speaking at the Finance Correspondents Association of Nigeria’s (FICAN) 30th-anniversary conference and awards, said part of the ways of tackling the issue was the release of N424.14 billion to improve the power and gas infrastructure in the country while reducing the nation’s estimated $100 billion annual infrastructure deficit.
At the event themed Financing Infrastructure & SMEs for inclusive growth in the post-COVID-19 economy, the apex bank chief, who was represented by the Director of Corporate Communications, Mr Osita Nwasinobi, said in Nigeria, the current level of infrastructure deficit was a major constraint to economic development and attainment of growth average rate of at least 5 to 7 per cent required to boost productivity and sustainable growth for businesses.
Quoting the World Development Indicators 2019 report, he said 56.20 per cent of Nigerians have access to electricity, while electric power consumption stood at 144.52 kWh per capita as of 2018, while the infrastructure deficit in Nigeria is estimated to be about 1.2 per cent of the gross domestic product (GDP).
To stem this gap, he said the CBN, in line with its developmental mandate to stimulate finance to infrastructure development in Nigeria, developed and introduced low interest and long-term finance interventions in tandem with the gestation periods of infrastructure projects.
He explained that “the design of the interventions was hinged on the need to develop enabling infrastructure in critical sectors to drive economic growth and development.
To support the resilience of the real sector, the Bank’s financing interventions include the Nigeria Electricity Market Stabilization Facility (NEMSF), which has disbursed N336.88 billion to support the development of enabling infrastructure in the energy sector by financing massive capital expenditure (Capex) in the sector.
“The intervention has also contributed to the increased electricity generation to 5,195 MW through the additional 1,403.3 MW of electricity generated, of which 944.3 MW new capacity was added from financed power projects.
“To provide liquidity support to electricity distribution companies (DisCos) and improve revenue collection efficiency, the CBN released N41.06 billion for the procurement and installation of 657,562 electricity meters across the country, under the National Mass Metering Programme (NMMP).
“Equally, N7 billion has been released under the Solar Connection Facility (SCF) to facilitate the procurement and installation of 100,000 solar home systems; and N39.20 billion to support the development of enabling infrastructure to optimize the domestic gas resources for economic development under the bank’s Intervention Facility for the National Gas Expansion Programme (IFNGEP).”
He, however, noted that, despite the efforts by the apex bank to address infrastructural challenges, “these are just a drop in the ocean, as the $100 billion annual investment required for infrastructure development cannot be solely financed by the CBN.”
“Bearing the importance of quality infrastructure to economic growth, the fiscal authorities and private sector have roles in the ecosystem, with innovative financing options explored.
“The Sukuk bond market has provided a substitute for the traditional interest-based financing options and has been used to finance critical infrastructural projects across the country.
“Public and Private Partnership (PPP) also provides an alternative to finance infrastructure projects, thereby easing budgetary constraints and improve operational efficiency by leveraging the private sector’s expertise and robust financing options.
“This PPP option is yet to be fully explored in Nigeria, despite its popularity in other emerging economies, particularly Brazil and India,” he pointed out at the programme held in Lagos.
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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