Economy
Nigeria, China Grow Trade Volume to $15bn
By Aduragbemi Omiyale
The trade volume between Nigeria and China increased in nine months to $15.1 billion, the Acting Consul General in the Chinese Embassy, Mr Jin Mingyu, has said.
“In 2023, bilateral trade between China and Nigeria reached $22.56 billion, with Nigeria ranking as China’s third-largest trading partner in Africa.
“From January to September 2024, China-Nigeria trade volume totalled $15.1 billion, with China’s imports from Nigeria increasing by 36.1 per cent year-on-year,” the diplomat stated at the arrival of the first vessel on COSCO’s new route to dock at Lekki Port, Lagos.
He also revealed that in the period under consideration, China’s imports from Nigeria increased by 36.1 per cent year-on-year, reaffirming the commitment of his country to the growth of Nigeria..
Mr Mingyu noted the growth of China-Nigeria trade relies mainly on collaboration, adding that the Chinese government hopes to see multinational enterprises working together to facilitate trade, build a modern port and logistics network in Nigeria, as well as share access to the vast Chinese market, and realise the benefits of development.
“The arrival of EA CENTAURUS marks a new breakthrough for Lekki Port in international shipping and will inject fresh momentum into Nigeria’s economic development, expanding the boundaries of cooperation between China and Nigeria in various sectors.
“It is a landmark project for Chinese companies in investment, and construction, as well as a successful model of multinational cooperation for shared success in Nigeria.
“COSCO, a global leader in the shipping and logistics industry, has launched a new route in partnership with Lekki Port, symbolising further breakthroughs in China-Nigeria collaboration in port construction and operation,” he added.
He also revealed that as of September, Lekki Port’s 2024 cargo throughput exceeded 160,000 twenty-foot equivalent units (TEUs), and that the Chinese government looks forward to seeing more merchant ships transporting unique Nigerian products to China.
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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