Economy
NCDMB Partners India on Research, Development
By Olubori Oduntan
A partnership to develop the Nigerian oil and gas industry’s capabilities for research and innovation has been entered into between the Nigerian Content Development and Monitoring Board (NCDMB) and India.
The collaboration is aimed at leveraging on India’s advancement in Information and Communication Technology (ICT) to achieve the above target.
A statement issued by NCDMB explained that the agency would work together with the Indian Government and its relevant institutions.
Executive Secretary NCDMB, Mr Simbi Wabote, in company with some senior officials of the agency, held a crucial meeting with the Indian High Commissioner to Nigeria, Mr BN Reddy, in Abuja on Thursday.
During the meeting, both parties discussed the board’s plans to engage the Indian Institute of Technology (IIT), the Indian Chamber of Commerce and a host of other institutions.
The IIT, a leading university in India, has one of the most successful innovation and entrepreneurship eco-system, with over 160 start-ups over the last six years in various fields, including the oil and gas industry.
It also has ongoing relationship with major oil and gas companies including Exxon-Mobil, Shell among others.
Speaking at the meeting, Mr Wabote underscored the trade relations between India and Nigeria especially in the supply of crude oil and Liquefied Natural Gas (LNG). Nigeria supplies 10 percent of India’s crude oil needs.
He stressed that the relationship between the two Commonwealth countries can be deepened in the area of ICT, manufacturing and processing of hydrocarbons.
He explained that the Board is continually looking for ways to push the boundaries of Local Content practice, especially in key sectors of the economy that are linked to the oil and gas industry and have the capacity to create multiplicity of jobs for Nigerians.
He stated that “the way India has grown its technology companies is of interest to the Board and we will like collaborate with your institutions, exchange ideas so we can replicate your achievements in our Research and Development journey.”
The discussion also focused on fostering collaborations between Nigerian manufacturing firms and their Indian counterparts to domesticate the fabrication of modular refineries. The Board also hopes to attract investors from the South Asian country to establish LPG cylinder manufacturing factories in Nigeria and participate in the Nigerian Oil and Gas Parks Scheme (NOGAPS).
In his welcome comments, the High Commissioner noted that India has the highest rate of start-ups in the world and the feat was achieved through a programme called ‘Start-up India. He promised to facilitate the Board’s engagements with the Indian institutions, pointing out that the IIT had trained many Indians and impacted their nation’s economy significantly. He also advised the Board to engage the Indian Chamber of Commerce, which has cluster companies with specialty in ICT and R&D, an area NCDMB is eager to pursue.
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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