Economy
Kwara Begins Pay-out of N850m for Community Projects
By Modupe Gbadeyanka
The Kwara State government has flagged-off an N850 million Community Development Programme with presentation of a N165 million to beneficiary communities in the state.
Speaking at the project launch and cheque presentation to 41 communities at the Banquet Hall, Ilorin, the state Governor, Mr Abdulfatah Ahmed said the first tranche of the counterpart-funded disbursement was released to promote all round development at the grassroot level.
Represented at the ceremony by the Chief of Staff, Government House, Mr AbdulWahab Babatunde Yusuf, Governor Ahmed said the aim of the programme was to enable all the 193 wards across the state have improved access to infrastructural services that will bring about development.
Under the scheme, ward-based community associations receive N5 million to implement water, education, health, energy and other micro-projects on provision of a ten per cent contribution.
He recalled that the sum of N50 million was injected into Community Development Projects in the State in 2015 with additional budgetary provision of #200 million in 2016 to consolidate government commitment to the project.
“The presence of counterpart fund of N200 million as contained in the 2016 Appropriation allowed for further draw-down of over N670 million to scale up the implementation of projects across the state,” the Governor stated.
He urged the communities to make judicious use of the funds and ensure proper retirement of receipts so as to facilitate the release of the second and third tranches. The Governor stressed that his administration will continue to put in place strategies to ensure all round development in the state, especially at the grassroot level.
Mr Ahmed commended the State Community and Social Development Agency (KWCSDA) and the World Bank for their efforts at ensuring rural development in the state.
Earlier, the Commissioner for Planning and Economic Development, Mr Wasiu Odewale said a total of 318 community micro projects have been implemented and are in use in different rural communities across the 16 LGAs in the state so far under the scheme
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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