Economy
Isidore Brightens Spirits of Smallholder Farmers Affected by Floods
By Modupe Gbadeyanka
Last year, Nigeria witnessed one of its worst floods after a similar occurrence a decade earlier. The flooding wreaked havoc on farmlands and destroyed the livelihoods of many smallholder farmers.
Just when victims are feeling like all hope to restart their lives is lost, a Nigerian agritech startup, Isidore, is brightening their spirits.
According to the founder of Isidore, Ms Karen Adie, smallholder farmers are very critical to Nigeria and its food security, and they must not be left alone because it would affect the nation.
Isidore, a member of the Founders Factory Africa startup portfolio, provides access to capital, market linkages, and value-add tools to smallholder farmers. This is so that smallholder farmers can maximise income from their labour. Many of their customers are in the states worst affected by this year’s flooding.
With smallholder farmers making up 85 per cent of Nigeria’s farming community, floods like the ones experienced in Northern Nigeria in 2022 highlight the delicate balance these farmers maintain in providing for their families and themselves while feeding their surrounding communities.
“For farmers in low-lying areas like Argungu in Kebbi state, the floods were a terrible jeopardy. Many have lost their livelihood and their homes. Suddenly, we were faced with a COVID-level humanitarian crisis,” Ms Adie stated.
“The daily realities of these communities, which are usually impoverished, are real. Yet, they are facing the brunt of climate change, which has created an uncertainty they live with daily.
“Without smallholder farmers, hunger would skyrocket in northern Nigeria. These farmers are our partners. As Isidore, we had to do something,” she added.
She stated that her firm has come up with an initiative, Habitats for Hope Program, to bring succour to smallholder farmers in the country.
Run out of Isidore’s Lagos head office, the Habitats for Hope Program was founded to provide welfare support to grain farmers in rural agrarian communities, with farmers able to join the program by registering on Isidore’s Jinja platform.
“To join the program, you need to be a grain farmer, a member of a farming community or association, and be willing to use the Jinja platform. The platform allows us to directly interact with program beneficiaries quickly, with its existing infrastructure allowing us to scale the program at speed,” Adie explains.
“In terms of what we’ve achieved so far, we identified a total of 44 homes that need to be rebuilt – we split this into 3 phases; we’re currently in phase 1, working on the homes of 6 farmers.
“So far, since the program’s inception in October 2022, we’ve identified 44 homes that need to be rebuilt. The building program has been split into three phases. We are currently in phase 1, working on six homes destroyed by the flooding in Kebbi state. We have 40 local volunteers helping us and our beneficiaries rebuild their homes, and by extension, their communities, as quickly as possible,” she disclosed.
Ms Adie hopes that from these seeds, the program can work with over 200 farming communities in Nigeria by December 2024. Beyond flood assistance, the Habitats For Hope Program focuses more broadly on housing and living conditions, education and skills development, and healthcare and disease prevention.
“We could not just limit the program to housing and living conditions. If a farmer gets sick and cannot tend to their land, it directly impacts that farmer’s ability to feed themselves, their family, and the surrounding community that relies on them. Worse, it directly impacts that farmer’s livelihood, with the sale of excess crops being their primary source of income.
“Coupled with this, education can play a vital role in allowing farmers to increase crop yield and use new ways to farm their lands. A larger yield means greater food security and can make a tangible difference in farmers’ lives through the money they make selling their produce,” she stated.
With the program in its infancy, Ms Adie and the Isidore team are searching for partners to enlarge the program’s impact. Partners could contribute financially to procure materials and extend the program’s ability to develop affected communities.
The provision of volunteers, building materials, equipment, farming inputs, and healthcare is just as critical. Furthermore, access to training, skills development and other service contributions are being sought.
Business Post recalled that between August and October 2022, floods ravaged thousands of homes across northern Nigeria, with the states of Kebbi, Jigawa, Kano and Sokoto significantly affected.
It is believed that at least 30 people died due to the flooding, with survivors now having to pick up the pieces.
Beyond the destruction of homes and loss of life, the flooding represents a mortal threat to the livelihoods and food security of farmers and people living in flooded areas, with vital farmlands ruined and critical roads and bridges washed away.
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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